Despite pandemic's impact, EPFO added around 62.49 lakh subscribers during the first tens month of the ongoing fiscal year
The new rule will affect various components from salary structure, EPF contribution, LTC vouchers to ITR filing
The EPFO, which has more than five crore active subscribers, manages social security funds of workers in the organised/semi-organised sector in India
Details like previous PF account number, bank account details, office details will be needed
In comparison to other fixed-income instruments, EPF is the most attractive bet.
Retirement fund body Employees' Provident Fund Organisation (EPFO) on March 4 maintained interest rate of 8.5% for 2020-21
There is a possibility of a decision on interest rates for the FY20-21 following the CBT meeting on March 4
If any amount is withdrawn during the current financial year, then the interest amount is taken from the beginning of the year to the month immediately before the withdrawal
With the government looking to bring more people under social security net, it may take a decision on increasing the Basic pay ceiling
"There can always be a discussion on the Rs 2,5 lakh limit. I can go back and review it. But it is a matter of principle. We are only touching those who are putting far more (in EPF) than what an average Indian's earnings is per month," she said
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