what are pf rules in india?
481566
As per the rules, in EPF, employee whose 'pay' is more than Rs 15,000 a month at the time of joining, is not eligible and is called non-eligible employee. Employees drawing less than Rs 15000 per month have to mandatorily become members of the EPF.
1392103
PPF account is safe in whichever bank you open it. As you might know it is a long term tax saver investment plan backed by Govt of India. The funds deposited in the scheme are transferred to Govt almost immediately. Banks act as only agents for mobilizing this business on behalf of GOVT. .
650647
A public provident fund (PPF) account is an investment option that provides income tax deduction u/s 80C for the amount invested (subject to a limit of Rs 1.5 lakh a year). Interest received is exempt from tax and there is no tax on the amount received on maturity of the account either.
1051547
Those earning a basic salary of more than Rs 15,000 a month will now contribute 10 per cent instead of the mandatory 12 per cent contribution towards the PF for the next 3 months till August 2020. ... As an employee, one is allowed to enhance the contribution to up to 100 per cent of the basic pay.
473502
The investment can be made in lump sum deposits or 12 installments in a financial year. The lock-in period of a PPF account is 15 years. After the completion of the said term, the account holder can choose to extend the tenure in blocks of 5 years. The government of India determines the interest rate of PPF.
1213457
Summary You can open the PPF account in your wife's name and invest Rs 1.5 lakh per annum on her behalf. However, the money given to your wife will be clubbed to your income. The interest and maturity amount of PPF is exempted from Tax.
1144862
Short Title: The Employees Provident Funds and Miscellaneous Provisions Act, 1952. Long Title: An Act to provide for the institution of provident funds pension fund and deposit-linked insurance fund for employees in factories and other establishments.
1269465
Public Provident Fund ( PPF ) was introduced in India in 1968 with the objective to mobilize small saving in the form of an investment, coupled with a return on it.
167441
Both these amounts are, typically, a part of the cost to company (CTC). If you earn more than ₹15,000 per month in basic salary plus dearness allowance, employers can limit the PF deduction to 12% of ₹15,000 ( ₹1,800) under the proviso to Para 26A of the Employees Provident Fund Scheme, 1952.
101375
1) Marriage: An EPFO member can withdraw up to 50% of the money from the EPF account for his or her own marriage, the marriage of his or her daughter, son, sister or brother. However, the person should have completed contribution to EPF for seven years.
60041
RPFC stands for "Regional Provident Fund Commissioner" this is the quasi judicial authority appointed in every region to take care of rights and duties given under the PF Act. PF Trustee is a trustee appointed to take care of PF funds.
386160
PPF is a government-backed long-term investment scheme which offers income tax benefits and guaranteed returns. For those who are not aware, VPF is merely an extension of EPF. While EPF restricts the contribution to 12% of the basic salary, VPF allows an employee to contribute more than 12% towards the PF account.
1147437
Contributions of up to 100% of the Basic salary and Dearness Allowance can be made to this provident fund. The rate of interest is the same as EPF. Here are some of the basic VPF Rules & Guidelines: You cannot discontinue or withdraw out of a VPF scheme in the middle of the year.
900086
Besides these investments, the payments towards the principal amount of your home loan are also eligible for an income deduction. Your PF contribution is covered under the Rs 1,00,000 limit of Section 80C, provided it is made to a recognised provident fund. To better understand Section 80C, read All about Section 80C .
1402302
Eligibility: Any Indian citizen can open a PPF account either in his own name or on behalf of a minor. But, you can't open a joint account or one for a Hindu Undivided Family (HUF). Also, an individual can have only one account in his name.
544739
PPF provides income tax deduction under section 80C for the amount invested (subject to a limit of Rs 1.5 lakh a year). Interest received is exempt from tax and there is no tax on the amount received on maturity of the account.
449345
Policy and Charging Rules Function (PCRF) is a node which functions in real-time to determine policy rules in a multimedia network. As a policy tool, the PCRF plays a central role in next-generation networks/LTE.