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Companies which had not earlier enrolled their employees under the EPF scheme can now do so, against payment of a minimal damage fee of Re 1 per year of default.

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The investor will have to provide a valid reason for the same which includes expenditure towards higher education or medical treatment.   

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GOI has proposed to bring EPF at par with NPS, which has a tax rebate on 40 per cent of the corpus while the remaining 60 per cent is taxable.

 

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