Splitting of provident fund accounts delayed

Ask the Community Statutory Compliance
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The Employees’ Provident Fund Organisation (EPFO) has not yet split the Provident Fund (PF) subscriber accounts into two for the members who have contributed more than Rs.2.5 lakh last financial year, resulting in tax complications and filing issues.

Experts stated that the EPFO is likely to split accounts only when crediting the interest for FY22, which generally takes place between September and December of the following financial year

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It is correct that the EPFO has not yet started splitting the accounts. The interest for FY 2022 will be credited as soon as it is notified in the Gazette, and not necessarily between September and December.

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Employee contribution in excess of Rs 2.5 lakhs pa.pdf (7.9 MB)

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