1. A big shout out to Dev from our team who created the superb graphics which has elevated the learning experience. 2. EPF is a vast subject and since most of us have it, it attracts many queries. Please type away your questions on EPF in the comments box below - we'll try to answer most of them. Also browse questions from other viewers as most people have similar queries .. and if you have answers to some of the questions then do share it with all others. Thanks!
Can you please cover more on EDLI. 1. How much is the cover? 2. All of 24% went into EPF and EPS, in that case are we getting insured without premium? 3. What does it insure? Eg: death/medical/accident? I've read in the comments that, EPS doesn't get any interest. If EPS is not beating today's inflation rate, it would never be able to beat post-retirement inflation. So, why should I contribute to EPS, what am I missing here? Do we have the provision to tune the composition? For eg, Let's say I'm already investing in a pension scheme, can I shift my EPS contribution to EPF?
If I merge my previous company PF closing amount. Does it included in current PF calculation? (Old closing amount) + Round(1:11)*8.5/1200 = ?? . Please clarify.
Can excess VPF contribution be claimed with its intrest accured( principle 2.5 lack/year upto 100% Basic would attract tax as per income slab on Interest earned/Year just like FD ....but now the money is compounding at effective PPF returns ( Post Taxation) in a safe government backed organization with much better Liquidity than PPF
The biggest benefit of EPF is its financial inclusiveness. In a country where financial awareness has only begun to improve, EPF by its default opt-in policy, ensures most of the working class has a corpus built for their raining days. I remember 20 years ago, when daily wages were far lower than they are today, the company my Dad used to work, used to deduct EPF (even though it was meagre) from their weekly wages. I only hope those people are getting some pension and got a good corpus upon retirement
Perfect! Exactly the information I was looking for. Thank You ET Money. Your videos are always informational, crisp and to the point. Waiting for the next one!
Nice narrated with complete frame about the epf, thanks, was having my own understanding the eps part is 3.67% of employer part and balance 8.33% is added to employee benefit from employer contribution. Certainly your narrative given the opposite dimension. Trust this may give better clarity to all. However if you can give narrative with an example for contributions and amount accumulated for a period of 5 years , 10 years with interest calculation on accumulated amounts.. 👍🙏
Nice video. Employer will deduct 12 percentage of employee basic and transfer to epf. Employee has an option to choose to transfer rest 88 percentage to epf.. It is called voluntary epf.. Many people do opt for volunteer EPF.. Bocz no other saving will give 8.5 interest.. It will impact people doing volunteer pf
Great info sharing mr Shankar Infact it is very useful and makes every one to know about EPF &EPS. Would be great get information on the interset part ,.prior to that if we withdraw our EPF on attainment of 58 years are we eligible to get the interest after withdrawal pl comment
Another informative video. The only concern I have with EPS is it's still relatively difficult to merge old PF accounts with the current one even if applied online. They reject it with random reasons, hope the government looks into it.
It's been 5 months and my earlier PF which was maintained with a trust is still not transferred to new organisation which maintain it with EPFO. This even after I had UAN and Aadhar linked with OTP coming on my mobile. The process is bad even after going online. Given an option now, I wouldn't be investing in EPFO, I would earn higher interest elsewhere and get more take home.
Thanks Shankar and ET money team. I had a very basic understanding of EPF. I was not aware there are so many things to it. Good learning of us. As requested by many members here, one video on EPS would be great.
Can you please cover more on EDLI. 1. How much is the cover? 2. All of 24% went into EPF and EPS, in that case are we getting insured without premium? 3. What does it insure? Eg: death/medical/accident? I've read in the comments that, EPS doesn't get any interest. If EPS is not beating today's inflation rate, it would never be able to beat post-retirement inflation. So, why should I contribute to EPS, what am I missing here? Do we have the provision to tune the composition? For eg, Let's say I'm already investing in a pension scheme, can I shift my EPS contribution to EPF?
A wonderful package of knowledge again... and this time it is about EPF... Much needed information for everyone... I already became a very good fan of Mr. Sankar Nath... Awesome presentation... Thank you...
Awesome Explanation. One point to add, on who can check EPF details on EPFO website and who cannot and what online servivlces does EPFO provide to the subscribers .
@@gvamsi55 I know this. I wanted this to be communicated in the video. Also, not everyone can find the EPF data on EPFO website even if they contribute as the contribution happens through Employer Trusts.
Beautifully explained and illustrated with nice visuals.. always looking forward to listening to you and your insights on various financial features which are at our disposal and can be leveraged well with proper guidance and knowledge.. Thanks for uplifting us.
One question. How will be the pension paid ? Will it be monthly ? Also, why EPS accumulation not transferred when I transfer my epf from one PF account to another which is the case on job change ? Will I lose the amount?
Excellent demonstration. I wanted to know more about the Passbook where various components are displayed eg employee share , employer’s share etc . Also which amount needs to be considered while withdrawing amount
In my knowledge, there are at least 2 things about EPF which should've been included in the video. 1. We're not enrolled in EPS if our very first Basic + DA exceeds 15,000. So a person with more than 15k salary at the time of first salary will only have EPF from employer contribution and not EPS. However, once enrolled in EPS, we cannot revert it back even if our salary increases. EDIT: and EPS does not earn any interest. our money will be stagnant, not growing even a single percent, and we won't be able to withdraw it either. 2. Withdrawal of EPF while being unemployed has lots of conditions. Only if we're employed for more than 5 years in a row, will we be allowed to take out the money without paying any tax (EEE). If we withdraw before completing our 5 years of continuous service, all the interests earned from EPF will be taxed. Moreover, all our previous years' Tax deductions under 80C due to EPF will be reversed. These were important points and would've made the video complete.
Thanks for contributing Aseem Sharan. Yes .. these and a lot more points did come up in our research but we could not fit everything in a single video of 17 mins. There will be a follow-up video certainly .. but nothing works better than viewers doing their own research as you have done here.
@@gd5546 yes you will get.. just keep transferring old pf to a new one while changing the employer. Also, be assured your UAN is not changing everytime you switch your job.
If i have epf account which started 5 years before, now am initiating the contribution towards vpf. So while withdrawal, interest paid on that savings will be taxable?
I regularly watch your videos on personal finance 101. Explained with amazing clarity, great graphics and examples. Please keep them coming. You are doing such a great job.
i would like to say as a HR student the contribution of employer is now 13% which split into 4 parts 1: 8.33 into EPS 2: 3.67 into EPF 3: 0.5 into Admin charges 4: 0.5 into EDLI
Shankar ji , thanks a lot and request you to post a video on EPS as well which will certainly help us gain knowledge as to how it works and the benefits of it such as interest & insurance etc. Thanks a lot once again
Again a nice video.. 1. What happens to EPS component? When can I get it ? Only after 58 years? What would be pension amount and duration? 2. Some big organization have trust, how are they different from epf? Will EPF and EPS components be different in trusts and normal EPF
Mr. Hemanth, EPS can be availed only after attaining age of 58 years. The pension amount would depend on your last drawn basic salary and has a specific formulae to calculate the same.
Dear team, Can you throw some light on applicability of tax if EPF is withdrawn by an employee due to not into service for more than 2 months and age of employee is less than 55 years?
Did you forget to cover EDLI? How does it provide insurance? Most helpful part of the video is the 2.5 lakh rule which consists only employee contribution and not employer's contribution because this rule has created lot of confusion.
I had restructured my salary components by opting for 1800 pf contribution instead of 12%. Now I have understood I'm loosing on tax benefit from employer contribution. Can I restructure again back to 12%?
My new employer doesn't contribute anything to EPS and puts the entire 12% in EPF only. However, my previous employer uses to contribute a small sum to Pensions - is that normal? I saw in my EPF passbook on the UAN portal and the amount under the pensions header is 0 while Employer Contri for EPF is complete 12%
I am also seeing the same.. My prev organization was following this 8.33% or Rs1250 (whichever is lower) into EPS rule but current org is contributing all 12% into EPF only. Is there any rule or form which I opted by mistake?
What about the inbuilt insurance plan? What kind of insurance is this? What will be the coverage? How can we avail it? Can you please throw some light to it?
Great video.Thank you for your comprehensive explanation. One doubt is you haven't elaborated on life insurance after mentioning it at the beginning of the video. Do we pay for life insurance too or not?
Hello sir, I was working with a bank and my PF was being deducted. I worked in that bank for 4.5 years. Now I switched bank and in this bank i have nps. Total corpus accumulated in my EPFO is more than 5 lakhs. I come under 30% tax bracket. Kindly advice the how to save tax on my epfo withdrawal
Sankar Sir, Hats off your beautiful narration. I have one doubt about the withdrawal. 1. Can Provident fund corpus be retained even after retirement at 60 years? 2. In such a case, will it continue to end interest? And tax on such continuation? 3. The Recent amendment- the excess contribution over 2.5 lakhs- will it be taxed in the subsequent years also? Keep posting on such relevant topics.
Very nicely & meticulously explained the EPF concept Sir. Please make similar kind of a video on NPS as well, regarding understanding of Tier-I, Tier II, Age wise asset allocation automated & manual, withdrawal rules, benefits, different schemes etc. That would a great favour if you make it. 👍👍👍
I have received an offer letter, where the employer contribution is written as 1800. My basic is around 45k. I hope the deduction from my salary towards employee contribution will also be the same as of employer (1800).
It's really a very informative video.kindly make a video on different types of provident funds like Public provident fund, Employee Provident fund , statutory Provident fund , National Pension Scheme and other money market instruments.
Thanks Sir for explaining this complex topic in very simple terms. Just one request, can you also make videos on EPS and EDLI so that we understand how one can get the EPS amount after retirement and what are the benefits given in EDLI
Can you please make a detailed video on delay in epf interest credit. This delay is happening every year. There are few points which are confusing. 1) What is the impact on compounding due to delay in interest credit. 2) Why EPFO interest credit process is delayed. 3) Can subscribers/contributors of epf can do something regarding this (is there any law to govern it)
Thank you Sir for sharing this information. All ET Money videos are very informative. I would appreciate it if you could share some insights on Voluntary provident fund.
Hello Sir..can u plz share ur insights on how will the subscribers can withdraw the amt from epf on age of 58 or more and what happens to 8.33% contributed to EPS - how is that taxed or what are the rules for withdrawal on that amt
Requesting pls clarify why EPF interest rates are declared at the end of the Financial year. It is the only product where a investor doesn't know the rate of interest beforehand !
There is a beautiful line in a Hindu Businessline article which we are just copy-pasting here : _The annual 'interest' declared by the scheme is in reality a dividend resulting from the surplus left with the fund, after deducting its running expenses from its investment income and fees collected from member institutions_
Great video on EPF👍, lots of information...could you guys also do one on the impact of the new wage code or bill that comes into effect on 1st April 2021...I have heard/read articles saying that take home salary will take a hit since retirals like EPF contribution will increase.
Questions from my side: 1. How do I check the current value / corpus of my EPF account? 2. If I change my employer (get a new job), the PF account will be same or a new account will be made? If yes, Can I tell my new employer to use my previous EPF account?
Hi Shankar, If someone left the job who has already PPF and after left the job he is planning to start business but initial few month he has only 2 people in his own company, how he will manage his PPF account with any stop.
I want to stop my contribution in EPS , which is a part of EPF . it started because in my FIRST job my basic salary was less than 15k . EPS is not good investment as i won't earn any interest on it over years and i''l only receive very less pesnion on it . Not earning any interest on EPS for 30-35 yrs is a financial sin according to me . Is there any way can i opt out of EPS ? Even if i manage to earn 8.1% CAGR on EPS amount of 1250/month by contributing in EPF instead , it can be great . Otherwise i want this money inhand so that i can invest in equity and earn 15% CAGR . It can create a difference of 35 lac-1.5 crores . Now i am losing on this money for next 35 yrs if i remain in the job .
My current employer that I joined 2 years back opened a new EPF account under the same UAN. I have not received any interest in my old account for FY 20-21 so far. Questions: 1) will I get interest on old account? 2) What happens to the interest amount if I transfer base amount in the middle of the year?
Wondering if there is a retirement plan where in funds contributed by both employee and employer are invested in instruments that are determined by the employer or employee. According to the video it is EPFO that determines how money collected from its members is invested.
-It was beautifully explained. required more details on interest calculations of EPF... How check the interest has been credited or not?? I have not received for the past FY 19-20.. can anyone help me out
Hi sir, please answer these queries: 1) How to sum up all the EPS amount from different organisations? 2) Do we get the 8.5 percent interest for the EPS amount as well ? we are unable to check the above mentioned 2 points in the EPFO website.please guide
Please make detailed video on comparison between NPS and PPF. Only ur channel can explain such detailed and easy to understand video. #ETmoney Thanks 🙏
1. A big shout out to Dev from our team who created the superb graphics which has elevated the learning experience.
2. EPF is a vast subject and since most of us have it, it attracts many queries. Please type away your questions on EPF in the comments box below - we'll try to answer most of them. Also browse questions from other viewers as most people have similar queries .. and if you have answers to some of the questions then do share it with all others. Thanks!
Can you please cover more on EDLI.
1. How much is the cover?
2. All of 24% went into EPF and EPS, in that case are we getting insured without premium?
3. What does it insure? Eg: death/medical/accident?
I've read in the comments that, EPS doesn't get any interest. If EPS is not beating today's inflation rate, it would never be able to beat post-retirement inflation. So, why should I contribute to EPS, what am I missing here?
Do we have the provision to tune the composition? For eg, Let's say I'm already investing in a pension scheme, can I shift my EPS contribution to EPF?
@@GK-rl5du Yes EDLI need to be explained
If I merge my previous company PF closing amount. Does it included in current PF calculation? (Old closing amount) + Round(1:11)*8.5/1200 = ?? . Please clarify.
Can excess VPF contribution be claimed with its intrest accured( principle 2.5 lack/year upto 100% Basic would attract tax as per income slab on Interest earned/Year just like FD ....but now the money is compounding at effective PPF returns ( Post Taxation) in a safe government backed organization with much better Liquidity than PPF
One of the best videos on the net for someone to understand every aspect of Provident Fund. Kudos to you Sir and the ET Money team.
Thank you!
The biggest benefit of EPF is its financial inclusiveness. In a country where financial awareness has only begun to improve, EPF by its default opt-in policy, ensures most of the working class has a corpus built for their raining days. I remember 20 years ago, when daily wages were far lower than they are today, the company my Dad used to work, used to deduct EPF (even though it was meagre) from their weekly wages. I only hope those people are getting some pension and got a good corpus upon retirement
Perfect! Exactly the information I was looking for. Thank You ET Money. Your videos are always informational, crisp and to the point. Waiting for the next one!
Great to hear! Thank you for the appreciation, Pramod Balakrishnan
Now explain the meaning of crisp pramod Bala krishnan
Simply superb.. every presentation you are comming with is explaining in very systematic way and understandable
Thank you so much 🙂
Nice narrated with complete frame about the epf, thanks, was having my own understanding the eps part is 3.67% of employer part and balance 8.33% is added to employee benefit from employer contribution. Certainly your narrative given the opposite dimension. Trust this may give better clarity to all. However if you can give narrative with an example for contributions and amount accumulated for a period of 5 years , 10 years with interest calculation on accumulated amounts.. 👍🙏
Nice video. Employer will deduct 12 percentage of employee basic and transfer to epf. Employee has an option to choose to transfer rest 88 percentage to epf.. It is called voluntary epf..
Many people do opt for volunteer EPF.. Bocz no other saving will give 8.5 interest.. It will impact people doing volunteer pf
Thanks Shankar! I really admire you for all the knowledge you impart to all of us.
Most welcome, Abhishek Arora. I'm learning aswell in the process and it's the research part that is most exciting. Glad its working for all.
Great info sharing mr Shankar
Infact it is very useful and makes every one to know about EPF &EPS.
Would be great get information on the interset part ,.prior to that if we withdraw our EPF on attainment of 58 years are we eligible to get the interest after withdrawal pl comment
Good information about EPF and deduction rules i like it
This is the best explanation I could find on the internet. keep loading such amazing informative videos.
Thanks, will do!
Another informative video. The only concern I have with EPS is it's still relatively difficult to merge old PF accounts with the current one even if applied online. They reject it with random reasons, hope the government looks into it.
Mr. Mohit Jha, will be able to help you with any assistance that you may require with respect to merging of your PF accounts.
@@srikanthvislawath1937 Thanks Srikanth, I am already in touch with the concerned organization to get it sorted.
Thank you Mohit Jha. We haven't tried the online approach ourselves but I understand things are much better now.
Yess even offline process is complicated
It's been 5 months and my earlier PF which was maintained with a trust is still not transferred to new organisation which maintain it with EPFO. This even after I had UAN and Aadhar linked with OTP coming on my mobile. The process is bad even after going online. Given an option now, I wouldn't be investing in EPFO, I would earn higher interest elsewhere and get more take home.
Thanks Shankar and ET money team. I had a very basic understanding of EPF. I was not aware there are so many things to it. Good learning of us. As requested by many members here, one video on EPS would be great.
Please cover EPS... As EPS is highly confused....
Sure, will do in another video.
@@ETMONEY Yes we need a video on EPS please.... It's highly confusing
ETMONEY’s ShankarNathGuruji, We Are Grateful For Your Guidance
Thank you Pavan Medam
Can you please cover more on EDLI.
1. How much is the cover?
2. All of 24% went into EPF and EPS, in that case are we getting insured without premium?
3. What does it insure? Eg: death/medical/accident?
I've read in the comments that, EPS doesn't get any interest. If EPS is not beating today's inflation rate, it would never be able to beat post-retirement inflation. So, why should I contribute to EPS, what am I missing here?
Do we have the provision to tune the composition? For eg, Let's say I'm already investing in a pension scheme, can I shift my EPS contribution to EPF?
EPS is the worst possible scheme which is sadly compulsory if you have to contribute to EPF, so no going back on that.
A wonderful package of knowledge again... and this time it is about EPF... Much needed information for everyone... I already became a very good fan of Mr. Sankar Nath... Awesome presentation... Thank you...
You are most welcome, Nandan Banerjee. Glad to know these content videos are helping
Thank you Soo much I had doubts in EPF ... But it's cleared now😊😊😊
Awesome Explanation. One point to add, on who can check EPF details on EPFO website and who cannot and what online servivlces does EPFO provide to the subscribers .
Pls use umang app
@@gvamsi55 I know this. I wanted this to be communicated in the video. Also, not everyone can find the EPF data on EPFO website even if they contribute as the contribution happens through Employer Trusts.
@@gvamsi55 Thanks for contributing
Beautifully explained and illustrated with nice visuals.. always looking forward to listening to you and your insights on various financial features which are at our disposal and can be leveraged well with proper guidance and knowledge.. Thanks for uplifting us.
Most welcome and thanks for the kind words, Sanjiv Y
One question. How will be the pension paid ? Will it be monthly ? Also, why EPS accumulation not transferred when I transfer my epf from one PF account to another which is the case on job change ? Will I lose the amount?
Great information. So many videos we find in RUclips but no one mentioned 2.5 limit is in employee contribution. Thank you ETMoney !!👍👌
Thank you very much, Venkat Rao
Excellent demonstration. I wanted to know more about the Passbook where various components are displayed eg employee share , employer’s share etc . Also which amount needs to be considered while withdrawing amount
So happy to see a video in English😍.
Thank you soo much
Subscribing from now on for more English videos🥰
Wow i never knew the calculations behind it.. thank you ET Money and Shankar Sir❤️
You're most welcome
This is interesting for person for USA to understand the retirement in India.
Hello, pls explain how pension amount is determined upon his retirement at 58 yrs and what would be the pension amount per month in detail.
Hi, great demonstration. Requesting details of EPS.
Thank you. Yes, we'll cover EPS in a separate video
yes, I too want same please
Yes..!!
In my knowledge, there are at least 2 things about EPF which should've been included in the video.
1. We're not enrolled in EPS if our very first Basic + DA exceeds 15,000. So a person with more than 15k salary at the time of first salary will only have EPF from employer contribution and not EPS. However, once enrolled in EPS, we cannot revert it back even if our salary increases.
EDIT: and EPS does not earn any interest. our money will be stagnant, not growing even a single percent, and we won't be able to withdraw it either.
2. Withdrawal of EPF while being unemployed has lots of conditions. Only if we're employed for more than 5 years in a row, will we be allowed to take out the money without paying any tax (EEE). If we withdraw before completing our 5 years of continuous service, all the interests earned from EPF will be taxed. Moreover, all our previous years' Tax deductions under 80C due to EPF will be reversed.
These were important points and would've made the video complete.
Very well noted!
Thank you Sir 🙏
Thanks for contributing Aseem Sharan. Yes .. these and a lot more points did come up in our research but we could not fit everything in a single video of 17 mins. There will be a follow-up video certainly .. but nothing works better than viewers doing their own research as you have done here.
@@gd5546 yes you will get.. just keep transferring old pf to a new one while changing the employer. Also, be assured your UAN is not changing everytime you switch your job.
If i have epf account which started 5 years before, now am initiating the contribution towards vpf. So while withdrawal, interest paid on that savings will be taxable?
I regularly watch your videos on personal finance 101. Explained with amazing clarity, great graphics and examples. Please keep them coming. You are doing such a great job.
Thank you!
Perfectly explained. Thank you
Thank you
excellent video, cleared all my doubts..
Most welcome
As usual very very clear explained video, thanks
Glad it was helpful!
Very Crystal clear explanation 👍 Requesting a video on PF advance withdrawal and the process
So nicely explained.❣️
i would like to say as a HR student the contribution of employer is now 13% which split into 4 parts
1: 8.33 into EPS
2: 3.67 into EPF
3: 0.5 into Admin charges
4: 0.5 into EDLI
It's very well educated , and easy understanding
Thanks
Shankar ji , thanks a lot and request you to post a video on EPS as well which will certainly help us gain knowledge as to how it works and the benefits of it such as interest & insurance etc. Thanks a lot once again
Thank you Anilkumar Chanda ji. Yes, we'll do a followup session answering the EPF questions asked in this video comments plus EPS
Good video, good job ET Money. Very succinct and easy to understand. Keep them coming please.
Again a nice video..
1. What happens to EPS component? When can I get it ? Only after 58 years? What would be pension amount and duration?
2. Some big organization have trust, how are they different from epf? Will EPF and EPS components be different in trusts and normal EPF
Mr. Hemanth, EPS can be availed only after attaining age of 58 years. The pension amount would depend on your last drawn basic salary and has a specific formulae to calculate the same.
Very informative and educational video
Thanks a lot for giving such kind of information
Most welcome. Thanks for liking
Amazing... I love the way you speak and your explanations...
Thank you so much 😀
Excellent narration and very clear. Thanks Sir
Thank you for your kind words
Dear team,
Can you throw some light on applicability of tax if EPF is withdrawn by an employee due to not into service for more than 2 months and age of employee is less than 55 years?
Thank you for this very informative article. Very beautiful conceptualized.
Please explain how does the corpus gets returned after retirement or after attaining the age of 58 yrs
Our pleasure! Thanks for your kind words
Did you forget to cover EDLI? How does it provide insurance?
Most helpful part of the video is the 2.5 lakh rule which consists only employee contribution and not employer's contribution because this rule has created lot of confusion.
The way you are explained is good sir
Thank you
Always a quality content.. great efforts by ET Money team
Much appreciated! Thank you
Very precise n informative.. Thank you!
Glad it was helpful!
I had restructured my salary components by opting for 1800 pf contribution instead of 12%. Now I have understood I'm loosing on tax benefit from employer contribution. Can I restructure again back to 12%?
Very well explained or presented
Thank you
My new employer doesn't contribute anything to EPS and puts the entire 12% in EPF only. However, my previous employer uses to contribute a small sum to Pensions - is that normal? I saw in my EPF passbook on the UAN portal and the amount under the pensions header is 0 while Employer Contri for EPF is complete 12%
No. It's uncommon for that to happen. Do seek an explanation on this from your company HR on this.
I am also seeing the same.. My prev organization was following this 8.33% or Rs1250 (whichever is lower) into EPS rule but current org is contributing all 12% into EPF only.
Is there any rule or form which I opted by mistake?
Excellent details with more clarity.
What about the inbuilt insurance plan? What kind of insurance is this? What will be the coverage? How can we avail it? Can you please throw some light to it?
Very informative.. Some information on EPS functioning could have helped more
Thank you shankar nath sir.Your explanation is awesome
Interest is not contributed to EPS should have been mentioned too. Great content ntl
Thank you for this easy to understand and informative video.
You are welcome!
hii, it was really good, can you prepare latest status on EPFO, it will be great full
Great video.Thank you for your comprehensive explanation. One doubt is you haven't elaborated on life insurance after mentioning it at the beginning of the video. Do we pay for life insurance too or not?
Well done! Very informative. superb.
Hello sir,
I was working with a bank and my PF was being deducted. I worked in that bank for 4.5 years. Now I switched bank and in this bank i have nps. Total corpus accumulated in my EPFO is more than 5 lakhs.
I come under 30% tax bracket. Kindly advice the how to save tax on my epfo withdrawal
Very informative video
Must watch
Very informative video. Kindly make video on transfer and widrawal of pf when switching from one company to another with procedure to be followed.
Thank you. Yes, we'll do a follow up session very soon which will be aimed at answering the many questions our viewers are asking here.
This is an awesome video thank you
You are so welcome! Thanks for the appreciation
Thank you for explaining it in detail 🙏
Glad it was helpful! Thank you
Great Sir, Thanks!
Most welcome!
Sankar Sir, Hats off your beautiful narration. I have one doubt about the withdrawal. 1. Can Provident fund corpus be retained even after retirement at 60 years? 2. In such a case, will it continue to end interest? And tax on such continuation? 3. The Recent amendment- the excess contribution over 2.5 lakhs- will it be taxed in the subsequent years also? Keep posting on such relevant topics.
Just discovered your channel. you are a doing a great job. Keep up the good work
Very nicely & meticulously explained the EPF concept Sir. Please make similar kind of a video on NPS as well, regarding understanding of Tier-I, Tier II, Age wise asset allocation automated & manual, withdrawal rules, benefits, different schemes etc. That would a great favour if you make it. 👍👍👍
I have received an offer letter, where the employer contribution is written as 1800.
My basic is around 45k. I hope the deduction from my salary towards employee contribution will also be the same as of employer (1800).
Really, very good in detailed analysis.
Thanks
It's really a very informative video.kindly make a video on different types of provident funds like Public provident fund, Employee Provident fund , statutory Provident fund , National Pension Scheme and other money market instruments.
Very well explained 👍
Thank you
Thanks Sir for explaining this complex topic in very simple terms. Just one request, can you also make videos on EPS and EDLI so that we understand how one can get the EPS amount after retirement and what are the benefits given in EDLI
Sure, will do. Thanks for the appreciation, Saurav Kumar.
V informative video. Ty
Thank you
Hello Sir,
Why my company is deducting only 1800/- while my basic is more than 15000 per month?
Can you please make a detailed video on delay in epf interest credit. This delay is happening every year. There are few points which are confusing.
1) What is the impact on compounding due to delay in interest credit.
2) Why EPFO interest credit process is delayed.
3) Can subscribers/contributors of epf can do something regarding this (is there any law to govern it)
Thank you...very informative 🥰
Most welcome
Thank you Sir for sharing this information. All ET Money videos are very informative. I would appreciate it if you could share some insights on Voluntary provident fund.
Thank you Sandeep Choudhari.
Very Informative 👍
Thanks!
Hello Sir..can u plz share ur insights on how will the subscribers can withdraw the amt from epf on age of 58 or more and what happens to 8.33% contributed to EPS - how is that taxed or what are the rules for withdrawal on that amt
Excellent and very detailed lecture....
Insurance component was not covered
Requesting pls clarify why EPF interest rates are declared at the end of the Financial year. It is the only product where a investor doesn't know the rate of interest beforehand !
There is a beautiful line in a Hindu Businessline article which we are just copy-pasting here : _The annual 'interest' declared by the scheme is in reality a dividend resulting from the surplus left with the fund, after deducting its running expenses from its investment income and fees collected from member institutions_
Thanks a lot for such great information
Thank you
Great video on EPF👍, lots of information...could you guys also do one on the impact of the new wage code or bill that comes into effect on 1st April 2021...I have heard/read articles saying that take home salary will take a hit since retirals like EPF contribution will increase.
Thank you. Sure. We are still trying to understand it. We'll want to extract those parts that impact investing or wealth accumulation though
Questions from my side:
1. How do I check the current value / corpus of my EPF account?
2. If I change my employer (get a new job), the PF account will be same or a new account will be made? If yes, Can I tell my new employer to use my previous EPF account?
Very informative . Very well explained
Thanx
Pls make vidoe EPS & EDLI
Hi Shankar, If someone left the job who has already PPF and after left the job he is planning to start business but initial few month he has only 2 people in his own company, how he will manage his PPF account with any stop.
Hi you did not cover that how it can be consolidated if you have worked with different organisations
Great information sir , Thank you
I want to stop my contribution in EPS , which is a part of EPF . it started because in my FIRST job my basic salary was less than 15k . EPS is not good investment as i won't earn any interest on it over years and i''l only receive very less pesnion on it . Not earning any interest on EPS for 30-35 yrs is a financial sin according to me .
Is there any way can i opt out of EPS ?
Even if i manage to earn 8.1% CAGR on EPS amount of 1250/month by contributing in EPF instead , it can be great . Otherwise i want this money inhand so that i can invest in equity and earn 15% CAGR .
It can create a difference of 35 lac-1.5 crores .
Now i am losing on this money for next 35 yrs if i remain in the job .
Basic question. How to covert EPF to EPS? Is it possible? If so how much pension one can get for typical EPF amount?
My current employer that I joined 2 years back opened a new EPF account under the same UAN. I have not received any interest in my old account for FY 20-21 so far. Questions: 1) will I get interest on old account? 2) What happens to the interest amount if I transfer base amount in the middle of the year?
Wondering if there is a retirement plan where in funds contributed by both employee and employer are invested in instruments that are determined by the employer or employee. According to the video it is EPFO that determines how money collected from its members is invested.
Is there any interest on EPS contribution? How much is it?
@@ETMONEY oh God then inflation will make the contribution to quite lower right. Then how come it's better retirement corpus tool ?
@@venkatraohyd Ppf Nps is way better than this for retirement
-It was beautifully explained. required more details on interest calculations of EPF... How check the interest has been credited or not?? I have not received for the past FY 19-20.. can anyone help me out
Hi sir, please answer these queries: 1) How to sum up all the EPS amount from different organisations? 2) Do we get the 8.5 percent interest for the EPS amount as well ? we are unable to check the above mentioned 2 points in the EPFO website.please guide
Please make detailed video on comparison between NPS and PPF.
Only ur channel can explain such detailed and easy to understand video. #ETmoney
Thanks 🙏
Hi. We have discussed NPSvPPF earlier. Check out ruclips.net/video/w0ih8scnEz4/видео.html and watch from 12 mins 20 secs
Very informative video.
Thank you very much