The EPFO reviews the interest rate offered on the amount collected in employees’ EPF account every year. The interest rate is decided after discussion between the Central Board of Trustees of EPFO and the Ministry of Finance at the end of every financial year. The EPF contribution rate for th...
The amount of pension is meager. If one would have invested Rs 541 in a recurring deposit at the rate of 8% for 35 years one would get 12,49,263 as maturity amount. If this maturity amount is put in buying the Pension plan say LIC’s Jeevan Akshay VI and put the above amount Rs ...
The interest rate on EPF is typically higher (8.5 percent) rather than other small savings schemes such as public provident fund, senior citizen savings scheme, Kisan Vikas Patra, and Sukanya Samriddhi and fixed deposit. This higher rate prompts employees to put higher corpus in EPF, which in ...
For unpaid outstanding contributions, payments can be made using Form A (Online). Late Payment Charges: The lower dividend rate between Simpanan Konvensional and Simpanan Shariah for each respective year with an additional one (1) percent. The minimum late payment charge imposed is RM10. The la...
balance in the account of Mr.A during the preceding 12 months. Assume his EPF balance for the last 12 months is Rs.1 lakh. Then 50% of this is Rs.50,000. However, the maximum ceiling is Rs.1.75 lakh. Hence, his nominee will receive Rs.50,000 as a bonus but not Rs.1.75 lakh....
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