The FinTech Hub
Source: Live Mint EPFO: Are you an EPF subscriber looking to check your account details with just a missed call? You can do that easily, but first, ensure your Universal Account Number (UAN) is linked to at least one of the following: your bank account, Aadhaar or PAN. In such a case, the subscriber only…
Source: Live Mint Employees Provident Fund Organisation (EPFO) has simplified the process of transferring the claims by revamping the form 13 functionality while incorporating the bifurcation of taxable and non-taxable components of PF accumulations. With the changes in force, the provident fund transfer claim does not need to be processed again by the destination office…
Source: Live Mint To simplify and to make the process of allotment and activation of UAN stronger, EPFO (Employees Provident Fund Organisation) has launched a number of features in the UMANG app while leveraging the face authentication technology (FAT). Now, EPFO subscribers can use this technology for allotment and activation of Universal Account Number (UAN)….
Source: Live Mint The government on Thursday announced two major reforms to ease claim settlement process for employee provident fund (EPF). Members had to furnish a chequebook or a bank passbook to apply for the claim. You don’t have to do it anymore. Also, you no longer require the employer’s approval to link your bank…
Source: Live Mint While this flexibility is a great relief during critical times, it’s important to understand the rules, limits, tax implications, and the overall impact of such withdrawals on long-term financial security. EPF withdrawal for marriage and higher education To access EPF funds for marriage or higher education, the rules are quite strict. Sanjay…
Source: Live Mint The Central government’s Employees Provident Fund Organisation (EPFO) has decided to likely increase the auto settlement of the advanced claim (ASAC) limit to ₹5 lakh, compared to its current levels of ₹1 lakh, reported the news agency ANI, citing people aware of the development on Monday, March 31. Sumita Dawra, Secretary of…
Source: Live Mint He was told he could withdraw the VPF anytime after a five-year lock-in period. Fast-forward to 2025, and he needed to withdraw funds to purchase a flat. To his surprise, there was no separate VPF accounting in his account. He could only see his EPF balance, and withdrawals, too, had limitations. “It…
Source: Live Mint Long queues, time-consuming documentation, rejections in requests, and constant delays, these are typically the images that come to mind when one considers taking advantage of your Employees’ Provident Fund (EPFO) corpus in India. All of this could be a thing of the past soon. Union Labour Minister Mansukh Mandaviya made the announcement…
Source: Live Mint The Employees’ Provident Fund Organization (EPFO) has revised the rules for updating the profile of the members. With the recent revision, EPF members can update their Aadhaar-linked Universal Account Numbers (UAN) with personal details without the need to upload documents. EPF members can update their profiles with personal information such as name,…
Source: Live Mint The Employees’ Provident Fund Organisation (EPFO) board on Friday retained fixed 8.25 per cent interest rates on employees’ provident fund deposits for 2024-25, reported PTI citing sources. The development is likely to dampen the spirits of EPFO subscribers who were expecting a rate hike amid rising inflation and general economic distress. The…
