Provident Funds (PF) PF stands for Provident Fund, a mandatory savings scheme in India for employees and employers. It aims at ensuring financial security for employees after their retirement. It also includes contributions from both the employee and employer towards a dedicated provident fund account. Overview of the Public Provident Fund: Purpose:The primary goal of… Read More »
Senior Citizen Schemes In India, various schemes and benefits are available for senior citizens, aimed at providing financial security, healthcare support, and other assistance. Here’s an overview of some key senior citizen schemes in India: Pradhan Mantri Vaya Vandana Yojana (PMVVY): 1. PMVVY is a pension scheme for senior citizens (aged 60 years and above),… Read More »
Pre-close an NPS Yes, you can pre-close a National Pension System (NPS) account under certain circumstances. If the NPS account has been active for at least three years, you are allow to make a partial withdrawal of up to 25% of the contributions made. This withdrawal is tax-free. If you wish to close the account… Read More »
How do I find out my UAN number from my PAN The UAN (Universal Account Number) is a unique identification number assigned by the Employees’ Provident Fund Organization (EPFO) of India exclusively to each account holder. If your UAN is not linked to your PAN in any way. Therefore, you cannot find out your UAN… Read More »
Advantages of EPF and EPS Advantages of EPF and EPS, The Employees’ Provident Fund (EPF) and Employees’ Pension Scheme (EPS) are social security schemes designed to provide financial security to employees during retirement or in the event of their unfortunate demise. These schemes offer several benefits, including: Retirement benefits: Upon retirement, employees receive a… Read More »
Payments under the National Pension Scheme The National Pension System (NPS) is a pension system regulated by the Pension Fund Regulatory and Development Authority (PFRDA). It provides two types of accounts: Tier I and Tier II. To make payments under the National Pension Scheme, follow these steps: 1.Open an NPS account: Visit a Point of… Read More »