Mon, Jun 17, 2024
EPF is also a tax saving scheme under Section 80C of the Indian Income Tax Act. Under this scheme, both employer and employee contribute 12 per cent of the employee's basic salary every month. The Employees' Provident Fund Organisation (EPFO) has set the interest rate for the fiscal year 2023-24 at 8.25 per cent, up from the previous year's rate of 8.15 per cent. This judgement affects millions of EPF members around the country.
More >
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.
Tue, Oct 10, 2023
Savings: PF is like a savings account, where you deposit money and can withdraw it when needed. But it is different from savings account. Because, there are some conditions for withdrawing money here. Know the tax responsibilities of the employee in this special offer of Money Guru.
By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
