UAN activation is a must for online withdrawal of PF

UAN activation for PF

Provident Fund (PF) can be withdrawn after retirement or after two months of unemployment. For online withdrawal of PF, it is necessary to have UAN activated, linked with Aadhar and a bank account. The retirement fund body has recently enabled employees to generate UAN without the involvement of their employers.  Employees’ Provident Fund Organization (EPFO) also allows partial withdrawal of PF during the service period and even permits non-refundable advance under specific conditions. An employee can partially withdraw PF citing specific conditions such as illness, marriage, buying house, education, etc.…

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GPF interest rate for Jan-March 2020 declared

General Provident Fund

The government of India revises the applicable interest rate on small savings schemes, GPF and other similar schemes at the beginning of each quarter of the financial year. The interest rate for GPF for the last quarter of the financial year 2019-2020 has been declared by the Department of Economic Affairs, a wing of the Ministry of Finance. The Department vide a notification has announced that the applicable rate of interest on GPF and other similar schemes for the last quarter ending March 2020 will be 7.9 percent compounded annually.…

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EPFO: Update your exit date online!

EPFO Update

One must keep the EPF account updated as it is helpful in several ways, especially while applying for EPF withdrawal. Also, keeping the EPF status updated helps in showing and tracking continuity of service. Exit date is the date when you had quit your last employer, which is important information that EPFO seeks. Erstwhile, employees were dependent upon previous employers for updating their exit date, who may not cooperate. To take care of this problem, EPFO has facilitated employees with the freedom to update their exit date online. How can…

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