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Take-home salary for Indian workers to fall from April 2021, but PF and gratuity will likely rise

As per the draft rules of the Code of Wages, 2019, the basic salary component, which is used to calculate gratuity and provident fund contributions, have to be at least 50 percent of an employees' total pay or compensation

EPFO provisional data reveals 3.18 lakh new enrolments in May, up from one lakh recorded during April 2020

The net new enrolments with the EPFO hover around 7 lakh every month on an average. It had had dropped to 5.72 lakh in March 2020 from 10.21 lakh in Feb

Employees' Provident Fund contribution can go higher than 10%, not of employers: Labour ministry

Last week, Finance minister Nirmala Sitharaman had announced the reduction of statutory provident fund contribution by both employers and employees for the next three months to 10 percent of basic wages from 12 percent.

Coronavirus Lockdown: Govt implements cut in employees' provident fund contribution to 10% for May, Jun, July

The Ministry of Labour & Employment has implemented the decision to cut employees' provident fund (EPF) contributions to 10 per cent from the existing 12 per cent for three months till July

Urgent relief needed for survival of restaurant industry; unemployment pay cover for employees needed: NRAI

NRAI also recommended that the benefit of PF contribution scheme should be extended wherein the state bears the PF contribution of both employees and the employers, to companies employing up to 1,000 persons.

Coronavirus Outbreak: Govt allows partial withdrawal for NPS subscribers for covering expenses related to treatment of COVID-19

The Pension Fund Regulatory and Development Authority of India (PFRDA) on Friday said NPS subscribers will now be allowed partial withdrawal for covering expenses related to treatment of COVID-19

Coronavirus Outbreak: EPFO settles 1.37 lakh PF withdrawal claims worth around Rs 280 cr to ease lockdown woes

Retirement fund body EPFO on Friday said it has settled 1.37 lakh provident fund withdrawal claims worth Rs 280 crore to provide relief to subscribers during the lockdown

EPFO advises beneficiaries to avail online services and not to visit its offices in view of coronavirus spread

The Employees' Provident Fund Organization (EPFO) on Friday asked pensioners and employers to avoid visiting its offices and avail online services like raising claims for PF, view balance, and make payments etc from their homes

Labour ministry keen to retain 8.65% interest rate on employees provident fund deposits for 2019-20

The labour ministry is keen to retain an interest rate of 8.65 percent paid on provident fund deposits to around six crore subscribers of retirement fund body EPFO for the current financial year, a source said

Budget 2020: New tax structure gives option to save tax; people can stay in current regime or switch to proposed plan, says revenue secretary

In the new regime, 5 percent tax is levied on an annual income between Rs 2.5 lakh and Rs 5 lakh. The tax rate rises to 10 percent, 15, percent, 20 percent and 25 percent for every Rs 2.5 lakh addition.