June 2, 2021 | by C-Quel Legal Research TeamEPFOlatestEPFnewsPF Contribution
EPFO has notified that with effect from June 2021 PF contributions cannot be remitted by the employer without Aadhaar seeding and verification of all employees.
Immediate actionable: Employees need to login to their UAN Portal and do the following:-
1. How to seed your Aadhar details under UAN KYC
2. Verify that their name and DOB in the PF portal should match the name and DOB in the Aadhaar/ UIDAI portal
3. In case of mismatch in PF record you can directly rectify the same on the UAN portal (see the process below)
March 12, 2021 | by C-Quel Legal Research TeamEPFOESICPF Contribution
From 1st April 2021, interest incurred on PF/EPF contribution beyond Rs 2.5 lakh in one financial year will become taxable.
To calculate the income tax rate, the EPF interest earned during the year will also be added to deduce the income tax slab of a PF account holder.
The Central Board of Direct Taxes (CBDT) has clarified, whatever is in excess to 2.5 lakhs towards PF contribution will be taxable.