Diabytes
PF rules News
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The EPFO Board of Trustees adopted a centralised IT system of PF account.
When an employee changes jobs, the PF account number remains intact, and the employee does not have to worry about PF account transfer.
After quitting a job, the PF holder is required to file documentation at both the former and new employers.
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The interest on contribution to Provident Fund for up to Rs 5 lakh per annum will be tax-free.
Earlier, the limit was Rs 2.5 lakh which was introduced in the Finance Bill proposal.
However, finance minister Nirmala Sitharaman doubled the limit where there was no employer contribution.
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Minister of State for Labour and Employment Bandaru Dattatreya said at present, these provisions are applicable only to establishments which employ 20 or more people.
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