Great news: PF withdrawal from ATMs starting 2025

Bank News

The Employees’ Provident Fund Organisation (EPFO) will introduce dedicated PF withdrawal cards to PF subscribers. The PF withdrawal cards will function similarly to regular bank ATM cards. Withdrawals will be capped at 50% of the PF balance to ensure fund availability for emergencies. According to various news reports, Labour Ministry Secretary Sumita Dawra announced the…

Impact of Ind AS on Financial Statements

Accounting

The Indian Accounting Standards (Ind AS), as notified under section 133 of the Companies Act 2013, were first implemented voluntarily in India on April 1, 2015. They became mandatory for certain companies on April 1, 2016, and were later extended to other companies and sectors. The main objective of Indian accounting standards (Ind-AS) is to…