Withdrawal from PF is not allowed in general circumstances. There are certain conditions in which PF can be withdrawn. However one should consider the taxability aspect before withdrawal. When PF is Taxable? When PF is withdrawn after completion of continuous service of 5 years – In this case, it is not taxable. When PF is…
DetailsAnnual Information Report (AIR) is an report submitted by specified persons to Income Tax Department about the specific transactions related to an financial year. In simple words, AIR is an report which includes some high value transactions done by a person and it is reported to the Income Tax Dept. It helps IT Dept. to…
DetailsThere are many persons from whom I have received query regarding how to know the AO code. Below I am sharing you a link through which you can know your AO code and PAN no. You just need to provide your name, DOB and your father name for this. Know Your Pan/ AO Must Read…
DetailsOne can withdraw from EPF prematurely in some specific situations. Following are the situation in which you can withdraw from EPF subject to conditions mentioned against them: Medical treatment for Self or family (spouse, children, dependent parents). Conditions: For major surgical operations or for TB, leprosy, paralysis, cancer, mental or heart ailments. The maximum amount…
DetailsLike PF balance, EPFO provides the facility to know the claim status for PF withdrawal. This facility was started on 18th Apr-11. To know claim status, just visit http://www.epfindia.com/ClaimStatus_New.html Click on the link given at the bottom of the page. You will get the webpage like this. Now, select your State and PF Office. Enter…
DetailsEPFO provides the facility to know the balance in your EPF account. This facility was started on 1st Jul-11. To know your balance, just visit http://www.epfindia.com/MembBal.html. Click on the link given at the bottom of the page. You will get the webpage like this. Now, select your State and PF Office. Enter your PF no.,…
DetailsEPFO vide its notification dt. 2nd Mar-15 has reduced the PF administrative charges from 1.10% to 0.85% of the pay. This change will be effective from 1st Jan-2015. Must Read : Some facts about EPF : EPF Facts 1 – Nomination and Insurance Facility …
DetailsRBI vide its circular dt. 11th Mar-2015 has provided following two forms: Account Opening Form Passbook Format Must Read : Sukanya Samriddhi Account – Features : Banks Authorised by RBI for Sukanya Samriddhi Account : Sukanya Samriddhi Account – Govt. Notification : Sukanya Samriddhi Account…
DetailsOn 11th Mar-2015, RBI has issued a circular to authorize 28 banks to open the Sukanya Samriddhi Account. RBI has also asked these banks to follow rules and regulations provide in the notification. Click here to read circular. List of Bank Authorized by RBI is as follows: S.No. Authorised Banks 1 State Bank of India…
DetailsOpt of EPF If a person’s salary is less than INR 15,000, he has an option to opt out of PF. But he will have to opt out of it at the time of joining the job. Once the contribution to PF has started, you cannot opt out of it unless you leave that job.…
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