The government said it wants to stop misuse of the facility by high-income earners who were depositing big amounts in EPF and that the move would impact less than 1% of contributors. Also read: Tax on EPF interest will not impact these salaried people Also read: How will interest on PF contributions above Rs 2. 5 lakh be taxed? Also read: Will tax on PF interest also cover contribution to PPF account? The government found in a study carried out before the budget that about 123, 000 people had a combined EPF corpus of ₹62, 500 crore in FY19, finance ministry officials said. While the top 20 high net worth individuals had about ₹825 crore in their accounts, the top 100 contributors had more than ₹2, 000 crore. The EPF has 63. 3 million contributing members. Read this article in: Hindi (Click here to know how to save on taxes for the financial year 2020-21. ) Download The Economic Times News App to get Daily Market Updates & Live Business News. 7 Comments on this Story Rahul Kerney 68 days ago 1163 Cr People Money in EPFO lost as companies like DHFL, Reliance Capital, ILFS defaults on payment.
More than 50 million Americans have cast ballots in the US presidential election with 11 days to go in the campaign, a pace that could lead to the highest voter turnout in over a century, according to data from the US Elections Project on Friday. The eye-popping figure is a sign of intense interest in the contest between Republican Donald Trump and Joe Biden, his Democratic challenger, as well as Americans' desire to reduce their risk of exposure to Covid-19, which has killed more than 221, 000 people across the United States. Many states have expanded in-person early voting and mail-in ballots ahead of election day on 3 November, as a safer way to vote during the coronavirus pandemic. The high level of early voting has led Michael McDonald, the University of Florida professor who administers the US Elections Project, to predict a record turnout of about 150 million, representing 65% of eligible voters, the highest rate since 1908. In Texas, the level of voting has already surpassed 70% of the total turnout in 2016.
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