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EXPLAINED: Epf - The Real Truth

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 EPFO cannot retain appeal money for nearly 11 years after a PF assessment order was set aside, depriving the assessee of its use and…

The Economic Times

EPFO: When can EPF interest be credited to your account? Check here

EPFO subscribers are awaiting their FY 2025-26 interest credit, despite the 8.25% rate announcement in March. While delays are common due to government approval and account reconciliation, experts assure members that interest accrues monthly and won't be lost. EPFO calculates interest on the running balance, ensuring full credit even with…

The Economic Times

EPFO member alert: Your nominee may lose provident fund, pension, other benefits if you make this little mistake

EPFO members are warned that e-nominations are invalid without e-signing via Aadhaar authentication. This crucial step ensures family members can receive EPF, EPS, and EDLI benefits without delays. Failure to e-sign means the nomination won't be processed in case of the member's death.

The Economic Times

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Can salary-linked SIPs transform mutual fund investing for salaried Indians? Experts weigh in

Sebi has proposed a framework allowing salaried employees to invest in mutual funds through salary deductions, similar to EPF and NPS. This initiative aims to simplify investing for first-time users, potentially reducing SIP stoppages and boosting monthly inflows by offering a disciplined, automated savings channel.

The Economic Times

NPS growth, performance, market-linked annuities; Sriram Iyer, CEO of HDFC Pension, talks about India’s changing retirement landscape

India's retirement planning is evolving with rising private sector NPS participation and evolving annuity products. While government contributions still dominate, private sector growth is steady. In an interview with Sriram Iyer, MD & CEO of HDFC Pension, he spoke about the growing role of NPS in retirement planning, NPS performance…

The Economic Times

EPFO to launch WhatsApp service for PF updates; government targets faster resolution of pending legal disputes

The Employees’ Provident Fund Organisation (EPFO) is set to launch a WhatsApp service for PF updates, allowing members to interact with the organization by sending a 'Hello' message.

The Economic Times

From Rs 17 lakh education loan to Rs 50 lakh net worth in 4 years: Can you replicate this Reddit success story?

A 29-year married Reddit user has shared his story of how, just four years into his job, he not only paid off his education loan but also created a corpus of Rs 50 lakh, starting his investment journey from scratch with no family inheritance.

The Economic Times

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Hungary sues EU over frozen Russian assets being used to provide Ukraine aid

Hungary's government, which maintains warm relations with Russia, has a history of regularly blocking EU support for Ukraine, which has strained relations between Budapest and several other EU countries.

Euronews

‘I'm very worried about the coarseness of language,’ Irish PM tells Euronews

In an exclusive interview with Euronews, Irish Taoiseach Micheál Martin shares his concerns about Hungary’s position within the EU, the deterioration of public discourse, and the future of Ukraine’s membership to the bloc.

Euronews

Karnataka High Court’s verdict cancelling EPF benefits for international workers and its implications | Explained

Karnataka High Court strikes down amendment allowing foreign workers in EPF, citing constitutional violations, potential impact on SSAs - The Hindu explains.

The Hindu

EPFO evaluates course of action on Karnataka HC judgement on foreign workers

EPFO evaluating response to Karnataka High Court judgement on inclusion of foreign workers in provident fund.

The Hindu

TSERC advises government to wind up CESS Sircilla, merge it with Northern Discom

TSERC advises merging CESS Sircilla with TSNPDCL to curb revenue losses and improve services for consumers.

The Hindu

Pension concerns: On the EPFO recommendation

The doubling of minimum pension will not result in a strain

The Hindu

Malaysia to Appoint PNB Chief to Lead Biggest Pension Fund

Malaysia is reportedly set to appoint the chief of Permodalan Nasional Berhad (PNB), the country's largest institutional fund manager, as the head of the E...

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The Hindu

Kharge lashes out at BJP, says only 12.2 lakh formal jobs added in 5 years

Congress president Mallikarjun Kharge on August 4 claimed that India under the Modi government has added only 12.2 lakh formal jobs in the past five years, and said that for the survival of the poor and middle class, the BJP needs to be “thrown out of power”.

The Hindu

Data | The contours of India’s ‘formal jobs’ crisis

The Indian government has been using the Employees Provident Fund (EPF) scheme’s data as a measure of payroll employment and formal job creation since 2017. The monthly data released from this initiative has generally shown an increase in the number of contributors, which is portrayed as evidence of employment creation…

The Hindu

Union government approves 8.15% interest rate for PF deposits

The CBT had recommended an increase to 8.15% from 8.10% interest to the deposits on March 28, 2023. Read more on The Hindu.

Dynamite News

Govt ratifies 8.15 pc interest rate on Employees Provident Fund for 2022-23

The order came after the Finance Ministry’s concurrence to the EPF rate of interest approved by EPFO trustees earlier in March this year. Read further on Dynamite News:

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Reuters

Hungary blocks next tranche of EU off-budget military support for Ukraine

Hungary did not approve the disbursement of the next tranche of military support for Ukraine provided under the EU's European Peace Facility (EPF), a government spokesman's office said on Tuesday.

The Hindu

Extend deadline by 6 months for online submission of consent for higher PF pension: Kerala MP

With the period stipulated by the EPFO expiring on May 3, 2023 for sections of employees and pensioners to exercise joint option along with their employers for higher PF pension, the demand has been made by John Brittas, MP from Kerala, for extending the deadline by six months.

Al Jazeera

Malaysians face poverty after retirement as pension crisis looms

Many Malaysians dipped into their pension during pandemic, but 81 percent of contributors face poverty in retirement.

The Guardian - UK

EU seals deal to supply Ukraine with a million rounds of shells

Estonian defence minister says agreement ‘shows me one thing: if there is a will there is a way’

Tribune News Service

EU to propose three-track plan to boost Ukraine ammo supplies

The European Union is set to propose a three-track plan to provide Ukraine with much-needed ammunition in response to some member states’ calls to ramp up the continent’s production capacity, but the amount of funding remains unclear.

Reuters

EU states to top up fund used for Ukraine arms purchases by 2 billion euros

European Union countries will replenish a fund that has been used to pay for military support for Ukraine with another 2 billion euros ($2.10 billion), two diplomats told Reuters on Thursday.

The Times of India

No loss of interest for EPF subscribers: Finance ministry

NEW DELHI: The finance ministry has said there is no loss of interest rate for EPFO subscribers and the delay in crediting interest for the last fiscal is due to software upgrade being conducted.

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