The FinTech Hub
Source: Live Mint “I enquired with my company and they informed me that the account was transferred successfully. I ran helter skelter for one month trying to figure out whether my job change had impacted interest credit or if there was another reason. On not getting a response from EPFO support, I went to their…
Source: Live Mint If you have already accumulated a considerable chunk of corpus in your EPF (Employees Provident Fund) account then you can use the money for any of the purposes given in the rules. As an EPF subscriber, you are supposed to fill form 31 to be able to withdraw the money. First of…
Source: Live Mint If you are an EPF (Employees Provident Fund) subscriber and keen to check the account balance and/or the last contribution made, the process is super easy. You need to only give a missed call. The only condition is that the member’s mobile number must already be registered on the UAN portal. So,…
Source: Live Mint I plan to opt for the new tax regime when filing my ITR for AY 2025-26. Currently, I am on the old tax regime, so the 12% of my salary to the Employee Provident Fund (EPF) will continue through the rest of the financial year. Is it correct that I cannot claim…
Source: Live Mint “Is the 30% hike on your in-hand salary?” the father asked. “It’s on the CTC. Increase in take-home can’t be too off-the-mark,” Sanjay replied. “Well, it depends on how the CTC is structured. How many components does it have?” “About ten. Five of these are new if I compare them to my…
Source: Business Standard 3 min read Last Updated : Oct 02 2024 | 11:44 AM IST The Employee Provident Fund (EPF) is a crucial retirement savings scheme designed to provide financial security for employees in the organised sector. However, accounts can become inactive if there are no contributions for three years. This may happen…
Source: Live Mint The Employees Provident Fund Organisation (EPFO) has issued a circular highlighting the allotment of funds for the year 2024-25 towards welfare activities of employees. The total budget for welfare activities, reads the circular, is ₹13.10 crore — out of which ₹74.37 lakh belong to the holiday homes alone. Excluding the budget for…
Source: Live Mint “This tax is as high as 35%, the same as what people earning above ₹1 crore pay,” said Harsh Roongta, founder of Fee Only Investment Advisers. How so? That’s because of compulsory contributions to state insurance schemes and pension funds that are “akin to a tax” because of the difficulty in accessing…
Source: Business Standard 3 min read Last Updated : Sep 13 2024 | 2:14 PM IST The Employees’ Provident Fund Organisation (EPFO) has set up a process to make corrections in Universal Account Number (UAN) profiles, aiming to make employee records accurate and prevent fraud. Here’s an overview of what corrections can be made…
Source: Business Standard 2 min read Last Updated : Sep 11 2024 | 11:39 AM IST Understanding taxation is essential for effective personal finance management, and one area that frequently causes confusion is Tax Deducted at Source (TDS). This concept becomes particularly important when withdrawing money from your Employee Provident Fund (EPF) account. Let…
