Do you know that Income Tax authorities have your income data and taxes paid data even before you file your returns ? It might sound shocking at first but the fact remains -
They get all this data...
Employees Provident Fund Organisation (EPFO) started the facility of online transfer of EPF balance in 2014. Online Transfer Claim Portal (OTCP) is the portal where you can apply for online transfer of EPF balance. EPFO has made the process pretty simple. Let us look into it.
To avail this facility, there are only 2 prerequisite conditions -
This is a basic EPF balance (PF balance) calculator which will answer your question - "How much EPF amount (including interest) will I get if I withdraw my EPF now?" This calculator will work in the case when both Employee and Employer Contribution remain fixed throughout the period of employment (i.e. not a percentage of basic salary). Please note that in this basic EPF calculator it has been ...
Being a salaried employee, Employee Provident Fund (EPF) is an integral part of our lives. And why not, a part of our salary is deposited every month to the Employees Provident Fund Organisation (EPFO) so that we have access to a decent amount at the time of retirement. Despite being such an important investment tool, there are many facts and processes about EPF on which not much clarity is there...
Time of the year again when we have to file our income tax. E-filing at IncomeTaxIndiaEfiling is made mandatory for people with annual income above Rs 5 lakh. The last date for filing of individual income tax return this time is 31st July 2014. The first question that comes to mind when we think of filing income tax is - what are ...
For quite sometime I was thinking of getting a safe deposit locker but somehow it kept on slipping down the priority list. I thought it will be better to get one in a public bank as fees would be low comparative to private banks. But there were no availabilities in the banks where I tried. So when a new branch of SBI got opened near my house, I grabbed the chance and went there to ask the ...
If your FDs in a particular bank are earning interests exceeding Rs 10000/- in a year, that bank will cut TDS(Tax deducted at source) @ 10% on the interest amount. Now if your total income is below 2 Lakhs (basic exemption limit currently), you are not liable to pay any taxes and hence you need to tell the bank not to cut TDS on FD interest. Form 15G/H is the way to tell this to your bank. If you ...
It is a common knowledge that a salaried employee has to contribute 12% of his basic salary towards EPF. But do you know that you can opt to contribute more than the mandatory 12% ? I did not know this until recently and when I researched about it, I found it to be a good tax saving tool for risk-averse-me. Lets discuss the details.
While reading on net I came to know that there have been some cases where the employer has deducted the EPF (Provident Fund / PF) money from employee's salary and then did not deposit that money to EPFO.
If you want to be sure that your EPF contribution has been deposited to EPFO (Employee Provident Fund Office), here are some of the ways to check it online -
Update: Finance Ministry has approved the EPF interest rate of 8.75% for the financial year 2013-14. EPFO has proposed to raise the interest rate on EPF deposits to 8.75% for the financial year 2013-14. The interest rate in the previous financial year was 8.5%. This proposal was made on January 13, 2014 ([related news](http://www.business-standard.com/article/pf/epfo-raises-interest-rate-to-8...