Provident fund withdrawal: Avoid these 5 mistakes while taking out EPFO PF money
Provident fund withdrawal: To claim your PF, avoid these 5 mistakes.
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Updated: Jul 12, 2021, 06:39 AM IST
Mostly, a salaried person contributes around 10% of salary every month to the Employees’ Provident Fund (EPF). EPF is a saving scheme that is introduced by the Employees Provident Fund Organisation (EPFO). The EPF is also referred to as Provident Fund (PF), which is a government-backed scheme where the deduction is compulsory for salaried individuals. The employer and the employee contribute 10 per cent of the employee s basic salary each month to the Employee Provident Fund Organisation (EPFO).
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The labour ministry made amendments to Section 142 of the Code of Social Security 2020 to implement this new rule.
Outlook Web Bureau 09 July 2021, Last Updated at 7:27 am File Photo Outlook Web Bureau 2021-07-09T00:17:50+05:30 EPFO Alert! You Won’t Be Getting PF Money If You Fail To Follow This Rule outlookindia.com 2021-07-09T07:27:35+05:30
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Government or private sector employees who are subscribers to the Employees Provident Fund (EPF) will have to link their Aadhaar card with their Provident Fund (PF) accounts by September 1, 2021, to continue receiving funds into their account without any hiccups.