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EPF LIABILITY
EPFO held on to Rs 10 lakh for 11 years: Patna HC orders it to refund the deposit with 6% interest for ‘unjust enrichment’The Patna High Court has ordered the EPFO to pay 6% annual interest on a Rs 10 lakh deposit, citing unjust enrichment. The court ruled that...
New income tax regime: Don’t miss out on these 3 key deductions that will reduce your taxable income & help save more taxMany taxpayers mistakenly believe the New Tax Regime offers no deductions. However, salaried employees and pensioners can claim a Rs 75,000...
NPS growth, performance, market-linked annuities; Sriram Iyer, CEO of HDFC Pension, talks about India’s changing retirement landscapeIndia's retirement planning is evolving with rising private sector NPS participation and evolving annuity products. While government contri...
Tax-free allowances rise, so do employer costs: The salary structuring dilemma under the Social Security CodeEnhanced tax-free allowances under the Income-Tax Rules, 2026 can improve employees’ take-home pay. However, the expanded definition of “wa...
Rs 15 lakh PF deducted but not deposited: HC allows criminal case to continue against director of company that turned insolventThe Orissa High Court ruled that a company director will face a criminal case for failing to deposit Rs 15 lakh deducted from employee sala...
India Inc salary restructuring: How new labour codes and income tax rules will impact take-home pay and retirement savingsSalaried employees face uncertainty as new labor codes and tax rules loom. Companies are preparing for changes, but widespread implementati...
EPFO wants to ease pressure on pension fundsEPFO must vastly improve its fund management, and ensure robust governance. Over 85% of its corpus - at about ₹12 lakh crore - is invested ...
Employer obligated to pay damages for delay in payment of EPF contribution: SCA bench of Justices Ajay Rastogi and Abhay S Oka said Employees Provident Fund & Miscellaneous Provisions Act is legislation for providing ...
EPFO extends challan filing date for employers by a month to May 15"The employers disbursing the wages for March 2020 not only get relief of extension of due date for payment of EPF dues for March, 2020 but...
EPFO to take action against firms not factoring special allowance for EPF computationThe apex court in its judgement has ruled that special allowance is part of the basic wages for computing the employees provident fund (EPF...
Will I be taxed if I don't withdraw EPF amount after retirement?There is no tax on EPF balance till the date of retirement. However, according to a recent ruling, any interest credited to EPF account aft...
Withdrawing EPF before completion of five years? Here's how you will be taxedAccording to EPF rules, one can withdraw up to 75% of corpus after 1 month of quitting job. The remaining 25% if he/she remains unemployed ...
How taxing interest portion of EPF impacts youAt a time when everybody was expecting NPS to be EEE, govt has made EPF similar to NPS. But, the final word on EPF taxability is still not ...
Proper accounting requires EPF to be unitised: Find out why this is crucialGovt should now get moving on accounting and governance so that the real benefits of the liberalised asset allocation devolve to members of...
Budget 2016: How tax on EPF will pinch young subscribers mostThe tax on the EPF is proposed only on the corpus created after April 2016. So, it will have a greater impact on young subscribers.
- CAG discovers Rs 1,336 crore gap in EPFO books
The PF office has admitted that such negative balances resulting from "overdrawal" of funds are "adjusted" while calculating the next year'...
- MoF shoots down plan for 9.5% return on EPF
The stalemate on returns to members of the employee provident fund continues. The Finance Ministry has fired a fresh missive to the Labour ...