Simplifying Taxation in India
The Employees’ Provident Fund Organisation (EPFO) will launch the online facility for submitting provident fund withdrawal claims in December, which would quicken such settlements and benefit its over five crore subscribers. At present, subscribers of the retirement fund body have to file PF settlement claims manually after they leave a job or after their retirement. … Read more
1. How do I apply for the Public Provident Fund (PPF) Scheme, 1968 through Bank?To apply for the PPF Provident Fund (PPF) scheme, 1968, you have to fill Form A and submit it at any Bank branch with relevant documents. The PPF account will be opened in one of the branches.. Please mention the name of branch where you … Read more
Prime Minister Narendra Modi on October 16 launched provident fund portability through the Universal Account Number (UAN). This new facility will help over 4 crore subscribers to transfer the funds lying in their provident fund accounts when they change jobs. Top 10 facts: 1. The Universal Account Number is key to provident fund portability and … Read more
Under this section, you can invest a maximum of Rs l lakh and if you are in the highest tax bracket of 30%, you save a tax of Rs 30,000. The various investment options under this section include:Public Provident Fund (PPF): Interest earned is fully exempt from tax without any limit. Annual contributions qualify for … Read more
Know your PF Balance in Online PF is the only big saving for many of us. PF remains the only amount on which we relied at the time of retirement. Hence it must be dear to you and you should be concerned about it also. You should know if your employer depositing PF contribution regularly. … Read more
PF Investment Increased to ₹1,50,000PF Investment Increased from 1 Lakh to ₹1.5 Lakh PUBLIC PROVIDENT FUND (AMENDMENT) SCHEME, 2014 – AMENDMENT IN PARAGRAPH 3 AND FORM-ANOTIFICATION NO. GSR 588(E) [F.NO.1/2/2014-NS.II], DATED 13-8-2014 In exercise of the powers conferred by sub-section (4) of Section 3 of the Public Provident Fund Act, 1968 (23 of 1968), the … Read more
EPF vs PPF Vs VPFThere are three (3) types of provident fund amounts that are associated with a salaried person. They are:Employer Provident Fund or Provident Fund (EPF): Employers in India with an employee base of 20 or more employees are required to comply with the Employee provident fund schemes run by government. This scheme’s … Read more