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If any amount is withdrawn during the current financial year, then the interest amount is taken from the beginning of the year to the month immediately before the withdrawal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