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  • How to Check Your PF Status Online

    Employees’ Provident Fund Organisation (EPFO)

    The Employees’ Provident Fund Organisation (EPFO) is a statutory body under the Ministry of Labour and Employment, Government of India. The Employees’ Provident Fund Organisation administers three schemes, namely, the Employees' Provident Fund Scheme, 1952, Employees' Deposit Linked Insurance Scheme, 1976 and Employees' Pension Scheme, 1995. The Employees’ Provident Fund Organisation is currently one of the biggest social security organisations in the world by virtue of its volume of transactions.

    Established in the year 1952 by the Government of India, the Employees Provident Fund Organisation was set up to help citizens recognise the need to save for their retirement or for the future. The EPF (Employees’ Provident Fund) is controlled by the Ministry of Labour and Employment, Government of India, and since 2013, the EPFO launched its own portal enabling subscribers to carry out all processes such as - checking the status of their PF account, making withdrawals or even taking a loan against their PF corpus.

    PF Claim Status

    As already mentioned, subscribers to the EPF scheme can carry out all processes on the EPFO member portal. Subscribers can make their PF final settlement, partial withdrawal and check the status of their withdrawal or final settlement online. That said, to make a final settlement or partial withdrawal from one’s PF corpus, subscribers now do not need the attestation of their employer. All that the subscriber needs to do is to activate their UAN and ensure that their Aadhaar card details are seeded with their PF and UAN account. Before getting into how a subscriber can track a PF claim status, let’s first discuss how one can make a partial or complete withdrawal from their PF account.

    How to Check PF Claim Status

    Subscribers can make a complete PF withdrawal under the following circumstances:

    • If the member has reached the age of retirement.
    • If they have been unemployed for a duration of more than 60 days or two months.
    • If they wish to move permanently abroad.
    • If a female employee is resigning due to reasons such as pregnancy, childbirth, getting married, etc.

    If not for a complete withdrawal, PF members can also partial withdrawals until the completion of 15 years in the scheme. Note, partial withdrawals before completion of the 5 years in the scheme are subject to tax. Partial withdrawals made after completion of 5 years in the scheme are free of tax.

    Steps to Check PF Claim Status Online:

    Once the employee has submitted a withdrawal claim, he/she can go ahead and check the claim status.

    • Visit the EPFO member portal.
    • Click on the “our services” tab and choose “for employees”.
    • Click on the “services” tab.
    • Select the “know your claim status” tab.
    • You will be directed to the claim status link.
    • Enter the state of your PF office once you are on the claim status link.
    • Choose your PF office from the list displayed.
    • Enter your establishment code.
    • Enter your EPF account number.
    • Click on the “submit” button to check your PF claim status.

    Steps to Check PF Status using UMANG app:

    Set up recently by the Government of India, the UMANG (Unified Mobile Application for New-Age Governance) app helps the citizens of India manage most government services seamlessly. Through the app, customers can subscriber to different Government of India schemes and can manage their contributions and withdrawals (if required) efficiently. All that customers have to do is to download the app and link their Aadhaar card when registering themselves. In addition, customers can facilitate the use of the UMANG customer service between 8am and 8pm for any grievance redressal, complaints, requests or help using the app. That said, customers can even check their PF status on the UMANG app. They can download their EPF Passbook, make a claim (for withdrawals or settlements), track the status of your claim and so on using this app. Subscribers can also claim their PF final settlement, make a partial pf withdrawal or a pension withdrawal. That said, in the case of claim settlement, subscribers need to update their Aadhaar to carry out the process.

    Subscribers to the EPF can also check their claim status through the Government service app - UMANG app. To do so, they would first need to download the app and integrate their KYC details - Aadhaar card, PAN, mobile number, etc. - when registering. Once they have raise a withdrawal claim, subscribers can then go ahead and track their PF claim status on the UMANG app. Follow the instructions listed below:

    • Visit the UMANG app.
    • Click on “EPFO services”.
    • Select the “employee centric option”.
    • Click on “track claim” from the other two options of “view passbook” and “raise claim”.
    • Enter your claim reference number.
    • An OTP will be sent to your registered mobile number.
    • Enter the OTP.
    • Click on “track claim”.
    • The app will then display your PF claim status.

    Steps to Follow Withdraw PF:

    To ensure the process of making a withdrawal is seamless, subscribers have to meet the below listed requirements if they wish to carry out a withdrawal without the attestation of their employer.

    • Subscribers have to ensure that their UAN is active and their mobile number is seeded with their PF account.
    • The PF member should also seed his/her Aadhaar card details with their PF account.
    • The member’s bank account details and the bank’s IFSC code has to be integrated as well.
    • For final settlements prior to completion of 5 years in the EPF scheme, the member will be required to seed his/her PAN details.

    Steps to Make PF Withdrawal Claim:

    • Visit the EPFO member portal.
    • Login using your UAN and password.
    • Click on the “manage” tab and check your KYC details to ensure they are correct/
    • Click on the “Online service” tab to proceed with the withdrawal if all the KYC details are correct.
    • Choose “claim” from the drop down menu.
    • Select the “proceed for claim” tab on the claim screen that includes one’s KYC and PF details.
    • On the “I want to apply for” option, choose the type of withdrawal you wish to make - final settlement, partial withdrawal, pension withdrawal, etc.
    • Once you select the type of claim you wish to make, fill in the relevant form and authenticate using your Aadhaar card details.
    • Enter the OTP sent to your registered mobile number.
    • Once your claim for a withdrawal or final settlement has been made, you can check your claim status by click on the “track claim” tab.

    Downloads

    You can also download your epassbook which has details of your transactions (month-wise) in your PF account.

    Inoperative Account

    If your receive a message that your account is operative, you have to send a request to the EPFO inoperative account help desk at http://59.180.231.60:9091/INOPHelpDesk.

    Complaints/Grievances

    If you wish to lodge a complaint online, you may do so by filling up a grievance registration form (online) in addition to providing details of your EPF account. You can also regularly check the current status of your complaints at http://epfigms.gov.in. You can also send reminders of your complaint.

    Steps to Check PF Balance Online:

    Since 2011, subscribers to the EPF can check their PF status online in a just a few steps on the EPFO member portal. To do so, PF subscribers have to follow the steps mentioned below:

    • Visit the EPFO website - http://www.epfindia.gov.in/
    • Click on “our services” and from the drop down option choose “For employees”.
    • Click on the “PF balance” option or “member passbook”. th
    • Enter the EPF regional office closest to you or holding your account - the first two letters of your PF number represent your EPF regional office and the next three letters is the code for the PF office.
    • Enter your name, registered mobile number and your PF number. Note, your PF number is displayed on your salary slip - in case of any doubt.
    • Enter the PF number in the following format - TN/MAS/0054222/000/0000111.
    • Click on “submit” once all the required fields have been entered.
    • Once that is done, your PF status (balance) will be sent to your registered mobile via SMS. The message should reach you within 5 minutes.
    • Click on “download EPF passbook” if you wish to view a detailed statement of the contributions made towards your account.

    Steps to Check PF Balance via UAN

    Following the introduction of the UAN (Universal Account Number), employees can manage all their PF accounts as one and can also make withdrawals from their PF accounts without the attestation of their employers. For those wishing to check their PF status using their UAN, they can follow the steps mentioned below:

    • Visit the EPF portal.
    • Click on “our services” and from the drop down option choose “For employees”.
    • Click on the “PF balance” option or “member passbook”.
    • Click on “activate your login”.
    • Click on the box “I have understood the instructions”.
    • Enter your UAN.
    • Enter your registered mobile number.
    • Type in your regional EPF office code.
    • Enter the captcha code
    • Click on “submit”.
    • Once this is done, the status of your PF account will be sent by SMS to your registered mobile number within a few minutes.
    • Click on “view passbook” or “download passbook” if you wish to view a detailed statement.

    Steps to Check EPF Balance using PAN

    If for some reason the subscriber’s username and password isn’t working, the subscriber can login to his/her PF account either by entering their registered mobile number or any of their KYC details - including PAN. For this to be a possibility, the subscriber has to ensure that their his/her PAN number is seeded with their PF account. Once that is done, they can follow the steps mentioned below to check their EPF balance using their PAN.

    • Visit the EPFO member portal.
    • Click on “our services” and from the drop down option choose “For employees”.
    • Click on the “PF balance” option or “member passbook”.
    • As soon as the “member balance” option is displayed, type in your PAN.
    • Click on “submit”.
    • As soon as this is done, you will receive an SMS containing your full balance statement and the status of your account.
    • Click on download “PF slip”.
    • As soon as the PF slip has been downloaded, you can take a print out (if required).

    Things to Remember when Checking PF Status

    • Employees can use only their registered mobile number to login to their account.
    • Only one PF account can be viewed by a single mobile number (that has been registered with the account).
    • Employees can submit multiple proof of identity when registering their account. In this way, any of their identity numbers can be used to login to their account.

    EPF Balance Transfer using UAN

    The process to transfer one’s PF account is no more tedious as one can make the PF transfer through the auto-transfer option that has been recently introduced by the EPFO. To initiate the process, subscribers have to follow the steps mentioned below:

    • Submit the Composite Form 11 that includes vital details and along with that, submit your personal details, PF number held with previous employer, UAN, etc.
    • If your UAN is seeded with your Aadhaar card details, as soon as your current employer enters the details, the process of auto-transfer will be initiated.
    • As soon as the auto-transfer process has been initiated, the subscriber will receive a message on his/her registered mobile number.
    • The process completed within 10 days and when the first PF contribution of the new employer has been made.
    • The subscriber will receive a message as soon as the PF fund has been deposited.

    Steps to Make the PF Auto-transfer Offline:

    If the subscriber has not seeded his/her Aadhaar card with the UAN online, they can carry out the process of auto-transfer offline. To do this, the employee needs to submit Form 13 to the new employer and furnish details of one’s Aadhaar card. Once the Aadhaar card has been seeded to the UAN of the employee, he/she can initiate the process of transferring funds from one’s past PF account to the current PF account.

    EPF Balance for Inoperative Accounts

    In 2011, the government of India decided against paying interest for inoperative PF accounts. Accounts that failed to have any contributions for over 36 months were deemed inoperative or dormant. This year -2016- the government reversed their decision and agreed to pay interest to even dormant accounts. The decision got people holding inoperative accounts logging into the EPFO site to check their balances. If you do not already know, listed below is the step by step procedure to checking the balance of inoperative accounts:

    • The first step is to get your UAN activated and then log on to epfindia.com
    • Once on the site, click on the ‘Inoperative helpdesk’.
    • Next, skip the introduction and press the ‘first time user’ button.
    • Fill in your employer details such as establishment code, state, address, your PF number, date of joining and leaving, and click on search establishment to locate your employer.
    • Enter your personal details such as name, date of birth, parents names, address, mobile number and preferred language.
    • Next, enter details of your KYC documents - PAN card number, Aadhaar card number, Bank account number and IFSC code.
    • Once you have entered all the details, generate the PIN. The PIN will be sent to your mobile, use it to proceed to check your details of the inoperative account - the outstanding amount and the last contributions and so on.
    • Send the details to your current employer - including the activated UAN - to carry on making contributions, thus making your account an active one.

    EPF Balance form

    With technology taking the front seat, over the past few years most processes have been made hassle-free through digitization. With the introduction of UAN and the EPFO’s self-service portal, balance forms have become obsolete. Balance forms back then were issued once every financial year for employees to check their outstanding savings amounts in their PF accounts. Now, just by logging in to the EPFO’s portal, one can check their balance with just a few clicks.

    PF Balance Full Statement

    Subscribers to the EPF can check their PF status or balance in the account on the EPFO member portal. If required, the subscriber can even download the passbook to view the full statement - containing the contributions as well as the withdrawals (if any). To do this, subscribers will have to follow the steps mentioned below.

    • Visit the EPFO member portal.
    • Click on “our services” and from the drop down option choose “For employees”.
    • Click on the “PF balance” option or “member passbook”.
    • As soon as the “member balance” option is displayed, enter the details of the PF office holding your account.
    • Type in your PF number, registered mobile number and your name.
    • Click on “submit”.
    • As soon as this is done, you will receive a text message containing your full balance statement and the status of your account.

    EPF Balance for Railway Employees

    The EPF covers employees falling under the bracket of private sector. For employees belonging to the public or government sectors such as the railways, the government has formalized a State Railway Provident Fund to aid such employees. For employees who have joined the railways post 01.01.2004, provident fund rules are not applicable. Every month, voluntarily, a railway employee contributes 8.5% of Pay + GP to their Railway Provident Fund. The account holder is then given a balance statement by the State Railway Provident Fund Organisation at the beginning of the year containing their outstanding balance, their contributions and withdrawals if any.

    EPF Balance last updated

    For those holding an active PF account, as soon as the contribution from you and your employer is made for the month, the account is updated. The procedure to check your updated balance is the same as checking for your balance. Listed are the steps you need to take:

    • Visit the EPF balance page - http://www.epfindia.com/site_en/KYEPFB.php
    • Click on PF balance tool button at the bottom of the page.
    • Once the new page for ‘member balance information’ has propped up, select the state your PF office is located in.
    • Enter your EPF account number, mobile number and your name.
    • Click on submit after you have done so and you will get an SMS stating your balance and the full balance statement will appear on your screen, including your last contribution.

    EPF Balance Name Mismatch

    Occasionally, you may face problems logging into your PF account. It may state that there is an ID/name mismatch. In such cases, check if you have spelt your name correctly as stated in your PF account and retry. Next, check to see if your office or regional code has changed. Lastly, it’s most probable that the EPFO website or server is down. Try again after a while.

    EPF balance refund

    Every contribution, withdrawal, and refund is mentioned in the balance sheet. When checking your balance on the EPFO’s member portal, everything is accounted for on your balance sheet. To check your refund, the same procedure to check your balance is followed. On checking your balance, you will see your refund claim updated on the balance sheet. Steps to check your balance and refund:

    • Visit the EPF balance page - http://www.epfindia.com/site_en/KYEPFB.php
    • Click on PF balance tool button at the bottom of the page.
    • Once the new page for ‘member balance information’ has propped up, select the state your PF office is located in.
    • Enter your EPF account number, mobile number and your name.
    • Click on submit after you have done so and you will get an SMS stating your balance and the full balance statement will appear on your screen, including your last contribution, refund, etc.

    How to Download EPF Balance Slip

    Subscribers to the EPF can follow the steps mentioned below to download their PF slips if they wish to have a detailed description of their EPF balance. To do so, they should follow the steps mentioned below:

    • Visit the EPFO member portal.
    • Click on “our services” and from the drop down option choose “For employees”.
    • Click on the “PF balance” option or “member passbook”.
    • As soon as the “member balance” option is displayed, enter the details of the PF office holding your account.
    • Type in your PF number, registered mobile number and your name.
    • Click on “submit”.
    • As soon as this is done, you will receive an SMS containing your full balance statement and the status of your account.
    • Click on download “PF slip”.
    • As soon as the PF slip has been downloaded, you can take a print out (if required).

    Steps to Check PF Balance Refund

    If the subscriber has received a refund of his/her balance, they can follow the steps mentioned below to check if the refund has been deposited.

    • Visit the EPFO member portal.
    • Click on “our services” and from the drop down option choose “For employees”.
    • Click on the “PF balance” option or “member passbook”. .
    • As soon as the “member balance” option is displayed, enter the details of the PF office holding your account.
    • Type in your PF number, registered mobile number and your name.
    • Click on “submit”.
    • As soon as this is done, you will receive a text message containing your full balance statement and the status of your account.

    EPF Withdrawal without Employer’s Signature

    Getting your employer’s signature to process a withdrawal from a PF account can sometimes be a daunting task as ex-employers can be quite in-cooperative. Thankfully, now you do not need their attestation to carry on the procedure. Here’s how you can do it:

    • Having an active UAN is a must along with your bank number and Aadhaar card number filled in the UAN database.
    • Your previous employer should have already verified your Aadhaar number.
    • Download the new forms - Form 10C and Form 31- apart from the regular Form 19 from the EPFO’s member portal.
    • Fill in your personal details in this form, your address, UAN, PAN card number, date of joining and reason for leaving, and bank account number.
    • Attach a cancelled cheque along with the form for the bank to verify your bank account number.
    • Submit the forms and cancelled cheque in your regional EPF office.
    • Make sure that your details on the form match those on the UAN database.
    • For those without an Aadhaar card, the forms need to be attested by an authority - Gazette officer, bank manager, designated member of the EPFO - before submission.

    EPF Customer Care

    For those looking to answer queries with the EPFO, all one needs to is to access the EPFO’s member portal. Once you have done that, click on the customer care service tab on the top of the screen and dial the toll free number of one’s regional customer service.

    EPFO Digital Signature

    Since most agreements are made online now, digital signatures have become imperative to prove the authenticity of the person or an organisation. The signature contains your identity - name, APNIC account name, country, email Id and your public key. In order to attest claims made on the EPFO, an employer first needs to register their class 2 and class 3 Digital Signature Certificate with the EPFO. To do so, here are the steps:

    • On the EPFO’s homepage, click on the Online transfer portal - registration of digital signatures - on the top bar.
    • On clicking on the digital certificate button, choose ‘Register certificate’.
    • Once you have done that, you will need to fill the form - Name of authorised signatory, designation and phone number. Click next when you have filled the form.
    • You will then have to choose your type of Digital Signature Certificate:
      • Sign with you USB token
      • Sign with .PFX file
    • Submit your choice and the system will run a Smart CardApplet (Java applet). Run the application.
    • Next, a message box containing the type of Digital Signature will appear. Click ‘select this certificate’.
    • Enter the PIN generated in the box and click Ok.
    • The message box will then say “Digital certificate selected successfully”
    • Click on the submit button.
    • It will then say ‘Digital Signature Generated successfully’. Take the Pdf copy and make a print out. It then needs to be submitted to the EPFO office for authentication, following which you can authorize transfer claims.

    EPFO Grievance

    To raise a grievance with the EPFO, all one needs to do is to access the EPFO’s member portal, login using their username or identification number and click on the EPFO grievance button. From there they can register a grievance, send a reminder if there is no response and and check the status of your complaint.

    EPF Joint Declaration Form

    A joint declaration form is issued when the wages of an employer exceed the wage ceiling limit of Rs.6,500 per month. The declaration is by both - the employer and the employee. Subscribers can download the form from the EPFO member portal or get their hands on a physical copy from the regional EPFO office.

    EPF Login for Employer

    For those wanting to sign in as an employer, one needs to login to the EPFO member portal and enter their unique username and password or establishment ID. In order to make transfers transparent, claims can be viewed by both the employers and employees. Employers will have to have a registered digital signature to authorise transfers and claims.

    EPF Tax Exemption

    EPF falls under a triple E (Exempt, Exempt, Exempt) tax bracket, making it tax-free for employees who have withdrawn their savings after five years of holding the account or continuous employment. For those making premature withdrawals (below 5 years), they will attract tax as under the TDS (Tax deducted at source).

    News About PF Status Online

    • With employees in the unorganised sector amounting to 43% of the work force in the country,

      With employees in the unorganised sector amounting to 43% of the work force in the country, the Government of India is pushing to give them the benefits of insurance and PF (Provident Fund). Labour Minister Bandaru Dattatreya said that there are around 43 per cent of the total employees in the country are in the unorganised sector and 47 million of them were in the construction sector. He added by saying that the ministry of labour and employment is committed for the social security of the labour force in the country, and included that the major steps taken by the ministry in this regard include increased maternity benefits, special schemes to enrol left out employees including contractual, casual and temporary workers among others, the minister said.

      1st August 2017

    • EPFO encourages PF members to consolidate their accounts.

      The Employees’ Provident Fund Organisation (EPFO) has launched various tools to help PF members to consolidate all their existing accounts into one account. This single account can be conveniently managed online by subscribers. This initiative named “One Employee-One EPF Account” was launched on May 1st, 2016, with a Universal Account Number (UAN) activated with the subscriber’s mobile number and current ID. Members will have to validate their credentials after which the EPFO will allow the member to register all previous PF accounts. Employers can get the Universal Account Number (UAN) from new employees along with bank account details and PAN card details, while doing KYC procedures.

      24th May 2016

    • Central Government Proposes to bring amendments in EPF Act

      Union Labour Minister Mr.Bandu Dattatreya said that the Ministry has been working to ensure “Sabka Saath, Sabka Vikaas”. He also noted that the Centre is increasing the quantum of financial assistance being offered under rehabilitation scheme from Rs. 20, 000 to Rs. 3 lakhs. Also, the EPF interest rate has been set at 8.8 per cent this year and all EPF investors will be given a UAN (Universal Account Number) to get complete details about EPF on their mobile phones. Also, there are about three crore EPF accounts which will all be revived next year.

      5th May 2016

    • Government under fire from trade unions for EPF blunders

      Trade Unions all over the country are going on strike to protest the decision by the Finance Ministry to lower the EPF Interest Rate.

      The EPF is a government scheme that was implemented to enable the working middle class of India to save for their retirement.

      Earlier this year, the government announced its intention to block a portion of withdrawals from the EPF scheme, which the people had rightfully earned and saved for years as per government directives.

      After agitation and protests by trade unions and labourers alike, the government decided to repeal that clause, and has now instead decided to lower the EPF interest rate to 8.7% from 8.8%.

      This move has been called undemocratic, and even a scam by financial and labour experts.

      Moves such as this are calling into question other government savings schemes like PPF, small savings accounts, etc. on which the government has total control over interest rates, etc.

      4th May 2016

    • Withdrawal norms on PF put on hold post protests

      Amidst increasing pressure from various quarters including unions and workers, the government has deferred the move to restrict withdrawal of corpus from PF for another three months. Labour unions in various parts of the country has protested against the move along with online campaigns being launched against this. There was a massive protest that turned violent in Bengaluru by garment factory workers. Bandaru Dattatreya, the labour minister said that a meeting of the central Board of Trustees would be called to discuss this issue further.

      Allowing withdrawal of corpus by EPFO subscribers for reasons such as healthcare, purchase of houses, marriage and education of children is being considered and has been referred to the Law Ministry for further clearance. The ministry had issued a notification in February restricting the complete withdrawal of PF corpus by subscribers after unemployment of more than 60 days. After concerns were raised regarding this, the implementation was deferred. The new proposal allows subscribers who are members of a government organization or an old age pension scheme or contributory provident fund to withdraw the accumulation.

      It has also been stipulated that the unemployment period of more than 60 days is not applicable to women resigning in cases of pregnancy or for the purpose of marriage. The previous ruling allowed subscribers to withdraw 90 percent of their savings when turn 55 years old.

      25th April 2016

    • Central government circular on PF deposits draws flak from senior citizens

      A recent circular from the Centre stating that inactive provident fund deposits would be transferred to a fund for senior citizens has drawn flak from a portion of the community. The new circular aims to utilise funds which have been inactive for over 7 years, using it to benefit the senior citizen community. Members protesting this decision termed it as unethical and illegal.

      7th April 2016

    • PF accounts will now be portable?

      In order to make provident fund accounts from portable, the government has urged factory inspectors to ensure to link Aadhaar or PAN of workers with the Universal Account Numbers (UAN) that is assigned to their provident fund accounts. Doing this activity, workers can transfer their provident fund deposits if and when they switch jobs all over the country. But the catch that lies here is, the UAN with the bank accounts have to mandatorily linked to either the Aadhaar or PAN details. So far there is only 17% of the 6.36 crore UAN accounts, have have been made portable.

      16th March 2016

    • Provident Benefits May Be Available to Contract Employee's as Well

      The Indian government has come up with the decision to have stricter laws for large employers who are relying on contract workers which allows them to pay these workers their statutory dues such as employees’ provident fund contribution. As an initiative for this, the Employees Provident Fund Organisation (EFPO) has requested public sector firms to upload their websites the details of project contracts awarded to various agencies to make sure contract workers get provident fund benefits.

      A similar directive is expected to be sent soon to 4,700 private companies employing over 1,000 workers each.

      15th March 2016

    • Working Class in Relief as Tax on 60% EPF Withdrawal Rolled Back by Modi Government

      The working class of India has some relief after Arun Jaitley, the country’s Union Finance Minister made amendments to the budget proposal and now aims to tax 60% of EPF withdrawal on retirement. Narendra Modi, the nation’s Prime Minister made an intervention in the Lok Sabha recently and Jaitley, amidst protest from trade unions and opposition parties said that the intention behind the proposal was to urge working class individuals in the private sector to join the NPS. However, the tax NPS tax proposal was retained and Jaitley revealed that paragraph 138 as well as paragraph 139 of the budget speech associated with tax on EPF have been withdrawn.

      10th March 2016

    • Government will Announce the categories of employees Who EPF tax exempted

      The government will be announcing the categories of employees who will be exempted from the controversial tax proposal on EPF withdrawals, according to an official’s report from the Finance Ministry today.

      Finance Minister of India, Arun Jaitley has proposed his Budget for 2016-17 with taxing 60% from the Employee Provident Fund (EPF) on the contributions that are to be made after April 1, with the exception that the sum is reinvested in pension products such as an annuity plan.

      The official was heard saying in the statement, "We have put an excluded employees category in the Finance Bill 2016. The government will notify the excluded category of employees to whom this new regime will not apply”.

      The excluded employees would generally be people who are drawing statutory wages of up to Rs 15,000 every month.

      9th March 2016

    • Rollback of EPF tax proposal announced

      Mr. Arun Jaitley, the Finance Minister who proposed taxing EPF withdrawals in his recent budget gave in to pressure from the public to rollback this highly controversial proposal. The initial proposal to tax 60% of the corpus on withdrawal drew flak from salaried members across the country, as the tax would’ve eaten into a chunk of their savings. This decision to roll back the tax came as a big relief, with people lauding it. The Finance Minister, however made no changes to existing tax norms under the NPS.

      8th March 2016

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