- Is EPF tax free?
- Can I open EPF account online?
- What happens if UAN is not activated?
- Why do we need to activate UAN?
- How much is PF of basic salary?
- What is UAN number in Cashbean?
- How can I get my PF without UAN number?
- How can I get UAN number by SMS?
- Is PF mandatory above 15000?
- Can I pay EPF myself?
- How can I generate UAN number?
- What is the minimum salary to deduct PF?
- How can I get my old UAN number?
- Is PF mandatory?
- What is new PF rules?
- What is CTC salary?
- How can I register my PF account?
- What is the eligibility for PF registration?
- How can I register my pf no online?
- How is PF calculated?
Is EPF tax free?
Employee contributions to the EPF and interest* are tax-free.
Section 80C allows for a tax deduction up to a limit of 1.5 lakhs.
If an employee receives interest on a contribution to the EPF or similar funds of more than Rs 5 lakh per year, he or she will have to pay tax if the employer does not contribute..
Can I open EPF account online?
For EPF Registration procedure, an employer can choose to register either offline or online, with the online option being the preferred mode for registration today. The registration form can be downloaded from the website of the Employees’ Provident Fund Organization (EPFO).
What happens if UAN is not activated?
Once you have activated the UAN, it is also mandatory for you to link it with Aadhaar and bank account number. You can make a partial withdrawal from your EPF account balance for illness, marriage, education and buying a house.
Why do we need to activate UAN?
Individuals will need to activate or register their Universal Account Number (UAN) in order to access various facilities on the Employees’ Provident Fund Organisation (EPFO) portal. … It is mandatory for employers who have more than 20 employees working for them to register with the EPFO.
How much is PF of basic salary?
PF contribution has to be made both by the employees and the employer. The contributions get accumulated in the provident fund in the name of the employee. The contribution of the employer is 12% of the basic wage plus dearness allowance or DA.
What is UAN number in Cashbean?
Universal Account Number (UAN) is a 12 digit number which is provided to each member of the Employees’ Provided Fund Organisation (EPFO) through which he can manage his PF accounts. This number is issued by the Ministry of Employment and Labour under the Government of India.
How can I get my PF without UAN number?
PF account holders also have the option of checking their EPF balance without UAN number by logging in at passbook.epfindia.gov.in. For withdrawing PF money, employees can either submit a physical application or an online one but for the latter, an activated UAN number, linked to one’s Aadhar card, is mandatory.
How can I get UAN number by SMS?
To get the PF account balance through SMS type EPFOHO UAN
Is PF mandatory above 15000?
EPF eligibility criteria If you receive a salary above Rs. 15,000 per month, you are considered as an ineligible employee and it is not compulsory for you to become a member of the EPF, although you can still register with the consent of your employer and the approval of the PF Assistant Commissioner.
Can I pay EPF myself?
We can pay EPF or KWSP ourselves (self contribution) online using Maybank2U. A person or a owners who do not get salary (own business) is encouraged to participate the “EPF Self Contribution”.
How can I generate UAN number?
How to generate your UAN?a) Step 1: Go to the UAN member portal.b) Step 2: Click on the online Aadhar verified UAN allotment link, near the bottom right of the page.c) Step 3: Enter your Aadhar number and wait for a One Time Password (OTP) to be generated and sent to your registered mobile number.More items…
What is the minimum salary to deduct PF?
Rs 21,000They said the deduction as per Employees Provident Fund (EPF) should be done for those persons receiving Rs 21,000 as monthly salary. Meaning, the minimum criteria or salary for which deduction under EPF is being done should be increased to Rs 21,000.
How can I get my old UAN number?
Steps to know your UAN numberStep 1 : Go to https://unifiedportal-mem.epfindia.gov.in/memberinterface/Step 2 : Click on the know your UAN status link as shown below.Step 4 : Click on “Get Authorization Pin” to get the authorization pin to your mobile number.More items…•Oct 20, 2019
Is PF mandatory?
It is mandatory to own a EPF account if you are in job and draws a salary of up to Rs. 15,000 per month. EPF is optional for individuals drawing salary more than Rs. 15,000 per month.
What is new PF rules?
As per the new PF rules, the deposit threshold limit has been raised to Rs 5 lakh per annum in provident fund for which interest would continue to be tax exempt. In simple terms, the interest on contribution to Provident Fund for up to Rs 5 lakh per annum will be tax-free.
What is CTC salary?
Cost to Company (CTC) is the yearly expenditure that a company spends on an employee. CTC is calculated by adding salary and additional benefits that an employee receives such as EPF, gratuity, house allowance, food coupons, medical insurance, travel expense and so on. …
How can I register my PF account?
For registration on Member Portal, the member should click on the link “Member Portal” under category “FOR EMPLOYEES” on the Home page of EPFO website www.epfindia.gov.in . The following screen would appear: Click “Register” to continue. Following screen would appear: Page 2 Please enter the details.
What is the eligibility for PF registration?
EPF eligibility criteria 15,000 per month, it is mandatory for you to be opened an EPF account by your employer. Organizations with 20 or more employees are required by law to register for the EPF scheme, while those with fewer than 20 employees can also register voluntarily. If you are drawing a salary higher than Rs.
How can I register my pf no online?
How to Register Mobile Number in EPF AccountVisit EPF Member Portal.Click on “Activate UAN”Enter your UAN, name, date of birth, mobile number and email id.Now click on “Get Authorization Pin”An OTP will be sent to your mobile number.More items…•Sep 10, 2020
How is PF calculated?
– If you are a man, you must contribute 10% or 12% of your basic salary. – In case you are a new woman employee, it is 8% of your basic salary for the first 3 years. Thereafter, it becomes 10% or 12% of your basic salary. – Your employer has to contribute an amount equal to 10% or 12% of your basic salary towards EPF.