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Our News - Apr 2021
- 2021-02-02 : Interest on employee contribution to PF above ₹2.5 lakh a year is now taxable
FM proposed to restrict tax exemption for the interest income earned on the employees’ contribution to various provident funds for high income employees. This restriction shall be applicable only for the contribution made on or after 01.04.2021. - 2020-12-16 : EPFO settles 52 lakh Covid-19 non-refundable advance claims
The retirement body, EPFO reported that it has settled 52 lakh Covid-19 non-refundable advance claims. Further, it has disbursed ₹13,300 crores. - 2020-12-14 : EPFO subscribers to get 8.5% interest for 2019-20 at one go
EPFO is likely to credit 8.5% rate of interest for 2019-20 in the EPF accounts of around six crore subscribers in one go by the end of December. The labour ministry has proposed to notify the interest rate at one go. The recommendation is pending approval of the finance ministry which is expected to come within a week. - 2020-11-23 : EPFO data reveals more women in the workplace
The proportion of women in new formal employment increased from 18-22 % to a peak of 26 % in Sep. In comparison to previous months, when new female EPFO subscribers were between the ages of 22-25, more than one lakh or 38% of recent female EPFO subscribers were over the age of 35 in September. Of the total of 10,47,167 new subscribers who joined the EPF in Sep, there were 2,72,395 women and men were 7,74,751. - 2020-11-23 : EPF subscribers registers highest increase in current fiscal
The net addition to the EPF subscription base was not only the highest so far in the current fiscal year at 14.9 lakh in Sep this year, but also more than double the monthly average net addition of 6.55 lakh reported in 2019-2020. The addition of net subscriptions in September 2020 is 70 % higher than the updated previous month rate.
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