Finance Minister Nirmala Sitharaman has announced in the Union Budget 2021-22 to levy income tax on interest earned on employee's contribution towards the Employee Provident Fund, or EPF, if the sum is above Rs 2.5 lakh a year starting 1 April 2021. This has created confusion amongst people regarding whether they should continue contributing towards a voluntary provident fund (VPF) that earns the same interest as that of EPF and enjoys the same tax treatment. Earlier the contributions wer..
The coronavirus (COVID-19) pandemic has impacted the whole trade and business world. The government of India has announced a sharp cut in the interest rate offered for small saving schemes for the quarter of April to June of the FY 2020-21. Due to lockdown, the government has relaxed a few rules on PPF and small saving schemes like 5-year National saving certificate, Kisan Vikas Patra, Sukanya Samridhi Yojana, etc. This article focus on one of the most popular small saving schemes - Public..
What is UAN? No one can deny the benefits that Provident Fund(PF)has to offer. The provident fund of all employees is managed by the Employees Provident Fund Organisation (EPFO). The EPFO allots each individual a 12-digit Universal Account Number which allows them to link multiple Member IDs to the same UAN. Thus, when an employee changes his job, his Member ID will change but he will be able to link all Member ID’s together. This helps him to view all the details of his PF account unde..