Thu, Mar 07, 2024
EPF Contribution Update: In its tweet, EPFO says that if the duration of default (of not contributing to EPF) is less than two months, the employer has to pay 5 per cent per annum of the total contribution to the employee's fund. Those who default for two to four months will have to pay damages at 10 per cent per annum.
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Wed, Jun 28, 2023
The Employee Provident Fund (EPF) is a vital retirement savings tool, but problems can arise if employers fail to deposit the deducted contributions into employees' PF accounts. From interest charges and penalties to criminal charges and imprisonment, the consequences for employers can be severe.
Thu, Feb 21, 2019
The Central Board of Trustees (CBT) headed by Labour Minister is the apex decision making body of the EPFO which finalises rate of interest on PF deposits for a financial year.
Tue, Jan 10, 2017
"As of now, about seven PSUs came forward to take investments from us (EPFO). We received a communication from the Ministry of Finance to increase our investments in PSUs. The return may be higher than what we are getting now," said Labour Minister.
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