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Posted under Get Ahead on 18 Mar,17 9:14p.m.
Soon you may be able to withdraw 90% of your PF amount for the down payment for the home purchase.The labour ministry, which controls the Employees’ Provident Fund Organisation (EPFO), informed the Rajya Sabha on Wednesday that it intends to amend the law to allow subscribers to withdraw up to 90% of their savings to buy or build homes.EPFO subscribers will also be able to pay their home loan....
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Posted under Get Ahead on 09 Mar,17 4:20p.m.
The relaxed rule for GPF withdrawal will benefit around 50 lakh central government employees as subscribers can withdraw the outstanding money for purpose of education - including primary, secondary and higher education, covering all streams and institutions. Money can also be withdrawn for expenses such as marriage and other ceremonies of self or family members and dependants, illness of sel....
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Posted under Get Ahead on 07 Mar,17 10:44p.m.
More than eight crore members of the Employees’ Provident Fund, can now opt to move their retirement savings to the National Pension System overseen by the Pension Fund Regulatory and Development Authority (PFRDA) – over two years after Finance Minister Arun Jaitley had promised such an alternative for employees in the Budget for 2015-16.The PFRDA notified the procedure for EPF members to transfer....
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Posted under Get Ahead on 20 Feb,17 7:37p.m.
The Employees' Provident Fund Organisation or EPFO is expected to soon launch an online facility for withdrawal of provident fund (PF) money and pension fixation. The launch of this facility will not only ease the process for subscribers but also speed up the processing time. "The process of connecting all field offices with a central server is going on. We may introduce the facility for online su....
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Posted under Get Ahead on 16 Feb,17 8:55p.m.
According to provident fund norms, 12 per cent of an employee's salary goes into the fund along with a matching contribution from the employer. The PF money can be withdrawn after two months from the cessation of employment. The application form in this regard can be filed with PF authorities, or through the employer.Here are five things to know:If the withdrawal from a recognised PF happens after....
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Posted under Get Ahead on 12 Feb,17 8:07p.m.
With some tinkering in the income tax rates for 2017-18, Finance Minister Arun Jaitley reduced the tax rate for income between Rs. 2.5 lakh and Rs. 5 lakh to 5 per cent in the Union Budget, while adding a surcharge of 10 per cent on tax for income between Rs. 50 lakh and Rs. 1 crore. Although the basic income tax exemption limit remains the same at....
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Posted under Get Ahead on 23 Jan,17 9:21p.m.
The Central Board of Direct Taxes (CBDT) made it mandatory for a banking company or a cooperative bank to report high value transactions. The CBDT has also set up an e-platform for the purpose of effecting such reporting. The following transactions will be reported as per the latest notification from the tax department. Banks have to report cash deposits aggregating to Rs 10 lakh or more....
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Posted under Get Ahead on 30 Dec,16 7:04p.m.
What is BHIM app?With the BHIM app, anyone can send or request money through the app to make a digital payment. The app is linked to your bank account, so you don't have to load money in it unlike a wallet, and a merchant does not have to worry about transferring the money back to their bank account.How can I get it on my phone?Download the BHIM app by the National Payments Corporation of India (N....
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