public provident fund

Investments which qualifies for deduction u/s. 80C

Income Tax - Under this section, you can invest a maximum of Rs 1.50 lakh (1 Lakh upto AY 2014-15) and if you are in the highest tax bracket of 30%, you save a tax of Rs 45000. The various investment options under this section include:PPF; Life Insurance Premium, Equity Linked Savings Scheme (ELSS), Provident Fund (PF) & Voluntary Provident Fund (VPF)...

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PPF (Public Provident Fund) Account

Income Tax - What is PPF (Public Provident Fund) Scheme ? The full form of PPF is Public Provident Fund Scheme. Public Provident Fund scheme of the Central Government was framed under Public Provident Fund Act, 1968. ...

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10 Things you may not know about PPF

Income Tax - One of the popular, preferred, and preeminent tax saving investments is PPF – Public Provident Fund. We all know about PPF. Do we know all about PPF? Let us discuss in detail about PPF in this article and understand it comprehensively and completely....

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Falling interest rates and plight of senior citizens

Income Tax - Before the previous last RBI meet,  there was an increased expectation of rate cuts by RBI as a measure of providing impetus to the economy after a demonstration.  That RBI maintaining status quo on repo rates at 6.25% is a negative thing for most people but senior citizens in India. Citing increased liquidity available and […]...

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Budget 2016: No change in existing tax treatment of PPF

Income Tax - There is no change in the existing tax treatment of Public Provident Fund (PPF). Currently there is no monetary ceilings on the employer contribution under EPF with only ceiling being that it would be 12% of the salary of the employee member. Similarly, there is no monetary ceiling on the employer contribution under NPS, except that it wo...

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Rate of interest w.e.f. 01.01.2018 to 31.03.2018 on small savings schemes

Income Tax - The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme for the 4th Quarter of financial year 2017-18 is as below:...

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Government of India makes Amendments in Small Savings Act

Income Tax - As per PPF Act, the PPF account can’t be closed prematurely before completion of five financial years. If depositor wants to close PPF account before five years in exigencies, he can’t close the account. To make provisions for premature closure easier in respect of all schemes, provisions could now be made through specific scheme noti...

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Public Provident Fund (PPF) Scheme for unorganised sector

Income Tax - Subject to the provisions contained in section 16, the Employees’ Provident Funds & Miscellaneous Provisions Act., 1952 applies to scheduled establishments employing 20 or more persons. The establishments which are not coverable statutorily could be covered on voluntary basis if a majority of the employees and employer are willing. For ...

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PPF, MIS, and other Post office Deposit Scheme to earn higher interest from 1st December, PPF limit raised to 100000

Income Tax - The finance ministry has notified rules which will pave the way for small savings account holders to earn higher returns from December 1. Earlier this month, the government had accepted the recommendations of a panel which would help investors earn higher interest on small savings schemes.An expert panel, headed by former RBI deputy gover...

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No fixed return on PPF

Income Tax - Ministry of Finance, Department of Economic Affairs (Budget Division)Government has vide its office memorandum No. No. 6-1/2011-NS.II (Pt.) Dated 11th November, 2011 announced increase in interest Rates on small saving schemes which includes interest rate on Public Provident Fund and other schemes. To address the issue of asset-liability...

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Regularisation of PPF accounts opened in Joint names

SB Order No. 06/2018 - (28/05/2018) - As per the Public Provident Fund Scheme, 1968, a PPF account can not be opened in joint names, i.e. in the names of more than one individual. Ministry of Finance has been receiving references from various Banks and Post Offices seeking regularization of irregular PPF accounts opened in joint capacit...

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Enrollment of member under Employees’ Pension Scheme- Reg.

No :Pension-1/17(10)2016-17/Jeevan Parman/23945 - (26/03/2018) - It has been decided to make available following additional route for allotment of UAN for enrollment as member of EPS, 1995 in the event of non-possession of aadhar number to facilitate immediate enrollment as member and to avoid delay in remittance of contributions in respect of the new employees....

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EPFO Instructions for payment of erroneous contributions deposited for certain periods

No. WSU/9(1)2013/Settlement of Claims/Pt /1985 - (23/03/2018) - References have been received in Head Office for furnishing guidelines on belated refund of contributions received by EPFO owing to wrong coverage, voluntary or erroneous deposits etc....

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Aadhar based identification of pensioners under EPS 1995 – reg

No: Pension-I/7(10)2016-2017/Jeevan Praman/30479 - (23/03/2018) - It has come to the notice of Head Office that payment of pension has been stopped in some cases by the field offices due to the reason of non submission of Digital Jeevan Praman....

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Aadhaar not mandatory for new EPS 1995 members till 31.03.2018 in Assam

No: Pension-I/17(10)2016-17/Jeevan Pramaan /27583 - (06/03/2018) - As difficulties are still being faced in submission of Aadhar as identify document by the pensioners & Members of EPS 1995 in the state of Assam, the issue is again re-examined & it has been decided that Aadhar may not be insisted from new members who join EPS 1995 till 31.03.2018 in Assam....

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Recent Posts in "public provident fund"

Investments which qualifies for deduction u/s. 80C

Under this section, you can invest a maximum of Rs 1.50 lakh (1 Lakh upto AY 2014-15) and if you are in the highest tax bracket of 30%, you save a tax of Rs 45000. The various investment options under this section include:PPF; Life Insurance Premium, Equity Linked Savings Scheme (ELSS), Provident Fund (PF) & Voluntary Provident Fund (VPF)...

Read More

Regularisation of PPF accounts opened in Joint names

SB Order No. 06/2018 (28/05/2018)

As per the Public Provident Fund Scheme, 1968, a PPF account can not be opened in joint names, i.e. in the names of more than one individual. Ministry of Finance has been receiving references from various Banks and Post Offices seeking regularization of irregular PPF accounts opened in joint capacity. ...

Read More

Enrollment of member under Employees’ Pension Scheme- Reg.

No :Pension-1/17(10)2016-17/Jeevan Parman/23945 (26/03/2018)

It has been decided to make available following additional route for allotment of UAN for enrollment as member of EPS, 1995 in the event of non-possession of aadhar number to facilitate immediate enrollment as member and to avoid delay in remittance of contributions in respect of the new employees....

Read More

EPFO Instructions for payment of erroneous contributions deposited for certain periods

No. WSU/9(1)2013/Settlement of Claims/Pt /1985 (23/03/2018)

References have been received in Head Office for furnishing guidelines on belated refund of contributions received by EPFO owing to wrong coverage, voluntary or erroneous deposits etc....

Read More

Aadhar based identification of pensioners under EPS 1995 – reg

No: Pension-I/7(10)2016-2017/Jeevan Praman/30479 (23/03/2018)

It has come to the notice of Head Office that payment of pension has been stopped in some cases by the field offices due to the reason of non submission of Digital Jeevan Praman....

Read More

Rate of interest w.e.f. 01.01.2018 to 31.03.2018 on small savings schemes

The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme for the 4th Quarter of financial year 2017-18 is as below:...

Read More
Posted Under: Company Law |

Aadhaar not mandatory for new EPS 1995 members till 31.03.2018 in Assam

No: Pension-I/17(10)2016-17/Jeevan Pramaan /27583 (06/03/2018)

As difficulties are still being faced in submission of Aadhar as identify document by the pensioners & Members of EPS 1995 in the state of Assam, the issue is again re-examined & it has been decided that Aadhar may not be insisted from new members who join EPS 1995 till 31.03.2018 in Assam....

Read More

Government of India makes Amendments in Small Savings Act

As per PPF Act, the PPF account can’t be closed prematurely before completion of five financial years. If depositor wants to close PPF account before five years in exigencies, he can’t close the account. To make provisions for premature closure easier in respect of all schemes, provisions could now be made through specific scheme noti...

Read More
Posted Under: Company Law |

PPF (Public Provident Fund) Account

What is PPF (Public Provident Fund) Scheme ? The full form of PPF is Public Provident Fund Scheme. Public Provident Fund scheme of the Central Government was framed under Public Provident Fund Act, 1968. ...

Read More
Posted Under: Company Law |

Guidelines for Processing of Partial EPF Withdrawal Request

Cir. No PFRDA/2018/40/Exit. (10/01/2018)

A partial withdrawal of accumulated pension wealth of the subscriber, not exceeding twenty-five per cent. of the contributions made by the subscriber and excluding contributions made by employer, if any, at any time before exit from National Pension System subject to the terms and conditions, purpose, frequency and limits specified below:...

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