Rules Changed In 2025: From withdrawals from PF account to GST, big change in the new year

New Delhi| New Year 2025 has started. This is special in many ways, because many such changes are going to happen in it, which will have a direct impact on our everyday life, financial situation and needs. Some of these changes will make it easier for us, while some may loosen our pockets.

Cars will become costlier by four percent
Almost all the big vehicle manufacturing companies including Maruti and Hyundai are going to increase the prices of vehicles by four percent from January 1, 2025. Companies have taken this step to pass on the burden of increased costs due to inflation to customers. Companies like Tata Motors, Mahindra, Toyota and Kia have already announced to increase the prices of cars. Luxury cars of BMW, Audi and Mercedes will also have to pay higher prices.

UPI123pay limit on feature phones increased
RBI has increased the transaction limit under UPI123pay to Rs 10,000 for feature phones. Earlier this limit was Rs 5,000. The new rule is coming into effect from January 1, 2025. This will benefit small businessmen as well as people in areas where there is not adequate internet facility.

GST: Multi-factor authentication mandatory
Multi-factor authentication has become mandatory for all taxpayers using the GST portal from January 1, 2025. This will help in improving the digital security of GST and make GST filing easier.

Loans up to Rs 2 lakh to farmers without guarantee
In a relief to farmers, RBI has increased the limit of non-guaranteed agricultural loans from Rs 1.6 lakh to Rs 2 lakh. This change is coming into effect from January 1, 2025. Its objective is to provide cheap and accessible loans to small and marginal farmers amid rising costs. For this, necessary guidelines have been given to all the banks.

Now PF withdrawal can be done from ATM
PF account holders are going to get the facility of withdrawal through ATM in the new year. Apart from this, subscribers of EPFO and ESIC will also soon be able to take their claim amount directly into the e-wallet. The Labor Ministry is upgrading the IT system to implement these services.

Change in contribution limit of PF account holders also
There may also be a change in the contribution limit of PF account holders. Right now employees contribute 12% of their basic salary to EPF account, which can be increased.

Monthly expiry of Sensex and Bankex
From January 1, the monthly expiry of Sensex, Bankex and Sensex-50 will be on the last Tuesday of every month instead of Friday. The expiry date of quarterly and half yearly contracts has also changed.