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EPFO reports highest monthly payroll additions in July 2024

EPFO reported a record monthly payroll addition of 19.94 lakh in July 2024, showcasing the impact of government initiatives on job creation.

The EPFO data indicates that of the new additions, 10.52 lakh are first-time employees, marking a 2.66 per cent increase over June 2024 and a 2.43 per cent rise compared to July 2023.
Published on Sep 23, 2024 02:07 PM IST
ANI |

Govt may raise EPFO wage ceiling to 21,000, retire with 1 crore: Report

The current wage ceiling of ₹15,000 (Which used to be ₹6,500 in 2014) for employees’ contribution may get raised for investing more into the EPFO corpus

Both the employee and the employer contribute 12% of the employee's salary each if the employee earns <span class='webrupee'>₹</span>15,000 or less each month currently.(HT Photo)
Updated on Sep 21, 2024 04:20 PM IST

Tax on EPF: How employees provident fund interest and withdrawals are taxed

While EPF gives tax benefits during the contributing phase, there are tax implications when withdrawing it, depending on the employment purpose and duration

Employees Provident Fund (EPF) is a retirement savings scheme for employees.(HT)
Updated on Sep 18, 2024 01:29 PM IST

Govt hikes PF withdrawal limit to 1L

The new withdrawal limit was raised because the older cap had become outdated in view of changing consumption expenditures

Provident funds offer retirement income to over 10-million employees in the organised sector. It often is the key corpus of lifetime savings for working people. (HT Photo)
Published on Sep 18, 2024 07:43 AM IST

EPF Ludhiana sets up call centre for grievance redressal

Regional provident fund commissioner Saurabh Swami said that the regional office in Ludhiana is committed to resolving complaints within 48 hours, or at most within five days

Regional provident fund commissioner Saurabh Swami said that the EPFO Ludhiana encourages members, pensioners, and employers to use the call centre for grievances, avoiding unnecessary visits to the office. (HT Photo)
Updated on Sep 10, 2024 05:50 AM IST
By, Ludhiana
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