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Provident Fund alert! EPF withdrawal before retirement capped at 75%

Wednesday, December 19, 2018, 3:10 PM

A jobless Employees' Provident Fund subscriber who hasn't crossed the retirement age(60-years) will now be able to withdraw only up to 75% of the accumulated EPF deposits, as against 100% earlier. A month without a job will make a subscriber eligible to withdraw the deposits. Earlier, pre-retirement withdrawal of EPF funds required the subscriber to be without job for a continuous period of two-months.
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Aadhaar not mandatory for EPF but for your convenience

Tuesday, October 30, 2018, 4:05 PM

Do you or do you not need Aadhaar to open, maintain and exit your EPF account? The Employees' Provident Fund Organisation (EPFO) issued a circular on 18-October instructing regional provident offices to not coerce employers by way of prosecution in the light of the SC-order on Aadhaar. The circular is important because EPFO was asking employers to seed UAN of the employees with Aadhaar.
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EPFO cuts administrative charges; firms to save Rs 900 crore

Sunday, May 27, 2018, 2:22 PM

Now over 5 lakh employers together would save around Rs.900 crore annually following the retirement fund body EPFO's decision to cut administrative charges, with effect from June 1, 2018. The Employees' Provident Fund Organisation's (EPFO) trustees had decided to cut the administrative charges to 0.50 percent from 0.65 percent of total wage paid by employers in its meeting on February 21, 2018.

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