EPFO
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EPFO
EPFO stands for Employees’ Provident Fund Organisation. It is a retirement fund body which on a mandatory basis provides Universal Social Security Coverage to all salaried employees in India.The EPFO is one of the world's largest social security organisations in terms of clientele and the volume of financial transactions undertaken. According to the EPFO website, at present it maintains 24.77 crore accounts (Annual Report 2019-20) pertaining to its members. The Employees' Provident Funds & Miscellaneous Provisions Act, 1952 and Schemes framed are administered by a tri-partite Board known as the Central Board of Trustees, Employees' Provident Fund, consisting of representatives of Government (Both Central and State), Employers, and Employees.The Central Board of Trustees administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India – namely EPF Scheme 1952, Pension Scheme 1995 (EPS) and Insurance Scheme 1976 (EDLI). The EPFO’s Central Board of Trustees after consultation with the Ministry of Finance reviews the interest rate of EPF every year, for a financial year.
EPFO urges companies to facilitate e-nomination of women employees
Establishments that filed an e-nomination for December 2021 and January 2022 are eligible for this declaration, according to an EPFO tweet.
EPFO may consider more govt bonds and equity investments
The proposals are aimed at ensuring high returns for provident fund subscribers and they come after the EPFO cut the interest rate for 2021-22 to 8.10%, the lowest in four decades.
EPFO interest rate better than other schemes, reflects today's realities: Nirmala Sitharaman in Rajya Sabha
Replying to a debate in the Rajya Sabha on the supplementary spending for the current fiscal, she said the decision to lower interest rate was taken by the central board of the provident fund managing body, EPFO, which has representatives of all stakeholders including employees' unions.
Labour market witnesses uneven recovery in January
Payroll data from the Ministry of Statistics and Programme Implementation, released on Friday, show the net new subscriber addition under the EPFO in January at 1.52 million, or 20.6% more than the previous month's addition of 1.26 million. Net new subscribers under ESIC fell by 16.2% to 1.28 million from 1.53 million in December 2021.
Splitting of provident fund accounts may be delayed
The EPFO is likely to split accounts only at the time of crediting the interest for FY22, which generally happens between September and December of the following fiscal year, they added. The EPFO had declared an interest rate of 8.1% for FY22 at its central board of trustees meeting last month.
EPFO interest rate for 2021-22 slashed from 8.5% to 8.1%, lowest in over 4 decades
The decision was taken in EPFO's central board of trustees meeting. This rate was 8.5 percent last fiscal.
BMS demands hike in pension; holds nationwide protest in front of EPFO offices
Bharatiya Mazdoor Sangh tweeted from its official Twitter account: “BMS demands pension should be 50% of last drawn wages for all workers. Chalo pf office on 20th January 2022,"
Quess Corp CEO Guruprasad Srinivasan on new hiring trends in India
“Monster index shows almost 7% upsurge in terms of hiring year on year, based on our database. There is a positive impact post Union Budget. A few specific sectors – BPO, IT, ITES – are almost 11% up. We get more escalations on hiring in these segments and Nasscom is also alluding to it.”
Rs 1,000 minimum monthly pension for EPFO members inadequate, says Par panel
The panel said it becomes imperative on the part of the Ministry of Labour and Employment to pursue the matter with the Ministry of Finance for obtaining adequate budgetary support as recommended by the High-Empowered Monitoring Committee, besides impressing upon the EPFO (Employees' Provident Fund Organisation) to make an actuarial assessment of all its pension schemes so that the monthly member pension is enhanced to a reasonable extent.
PF tax rule: EPFO members await clarity
EPFO and organisations that manage contributions of employees in-house are looking for information on issues such as the withholding tax liability and the timing of the taxation. There is also ambiguity on whether the taxable portion of interest is required to be offered to tax each year on an accrual basis or taxed lumpsum at the time of withdrawal of the corpus on retirement.
You can file EPF e-nomination after Dec 31 too
The Employees' Provident Fund Organisation (EPFO) has said that members can e-file EPF nominations beyond December 31, 2021. This facility can be availed from the EPFO's member sewa portal.
Govt has taken 'satisfactory' steps to increase employment rate: Minister
Union Minister Bhupender Yadav told Lok Sabha that there has been an increase in the rate of employment as the government has taken "satisfactory and proper" steps for it. "Various schemes and programmes are being run by the government under different ministries," the minister said during Question Hour.
ESIC scheme adds 12.84 lakh new members in January
The NSO report showed that gross enrolments of new subscribers with ESIC were 1.15 crore in 2020-21, compared to 1.51 crore in 2019-20 and 1.49 crore in 2018-19. From September 2017 to March 2018, around 83.35 lakh new subscribers joined the ESIC scheme.
Formal job creation up in January; EPFO sees 1.52 million new subscriber addition
The payroll data by the ministry of statistics and programme implementation, released on Friday, shows net new subscriber addition under the EPFO stood at 1.52 million in January 2022, 20.6% more than 1.26 million added in December 2021.
EPFO seeks to transfer ₹100 crore of unclaimed deposits to elders' fund
The proposal will be taken up for consideration by the central board of trustees of EPFO at its upcoming meeting on Saturday, people familiar with the development told ET.
Tax on EPF, NPS, Superannuation fund: Here's all you need to know about it
Employer contributions to retirement funds such as Employees Provident Fund (EPF), National Pension System (NPS), or any other superannuation fund that exceed Rs 7.5 lakh in a financial year will be taxed in the hands of the employee beginning in FY 2020-21.
EPFO goes long on top PSU bonds
The Employees' Provident Fund Organisation (EPFO) is estimated to have invested at least ₹ 10,000 crore in top-rated public-sector company bonds including that of Indian Oil, Hindustan Petroleum and National Bank for Agriculture and Rural Development (NABARD), some of which have offered rates up to 9 basis points less than similar maturity government bonds, three people with the knowledge of the matter told ET.
FM Nirmala Sitharaman and Shiva Sena's Priyanka Chaturvedi spar during discussion on Appropriation Bills
"The kind of Budgets which have been presented have restricted the level of growth... these are headlines from the last two months and from this, you would come to know whether it is appropriation or misappropriation. I would not like to go into details regarding this," Chaturvedi noted while opposing the Bills.
How to transfer EPF account from EPFO to employer’s EPF trust and vice versa
While changing your job, it may happen that your new employer runs a private EPF trust whereas the old employer used to deposit the money with EPFO. In such a scenario, can you transfer your EPF account?
EPFO Payroll data: 14.6 lakh subscribers added in December 2021, a rise of 16.4% YoY
The Employees' Provident Fund Organisation (EPFO) added 14.6 lakh net subscribers in December 2021, up 16.4 per cent compared to the corresponding period of the previous year. Comparison shows an increase of around 2.06 lakh in net payroll additions in December 2021, as compared to 12.54 lakh net subscribers added during the corresponding month of the previous year. On a month-on-month basis, the net subscriber addition increased by 19.98 per cent, as compared to November 2021.EPFO Payroll data: 14.6 lakh subscribers added in December 2021, a rise of 16.4% YoY
EPF interest rate cut will force India's salaried class to rework their retirement math
An estimated 64 million members of the Employees’ Provident Fund Organisations will be affected by the recommendation of its central board of trustees to cut the interest rate to 8.1%, the lowest in four decades, from 8.5% for the last fiscal year, due to market pressures.
Minimum pension under EPS must be enhanced: Standing committee on labour
The committee has also suggested that the Employees Provident Fund Organisation (EPFO) take up an actuarial assessment of all its pension schemes so that the monthly member pension is enhanced to a reasonable extent.
How to update bank account details in EPF account
There may be a delay in processing withdrawal claims if the EPF account's mentioned bank account number is closed or inactive. Here are simple steps to update bank account details in EPF records
How your UAN details can help in transferring EPF account to new employer
Individual employees can effortlessly transfer their EPF with the help of their UAN numbers. Before completing an account transfer application, members must remember to link their Aadhaar and seed their bank data against their UAN in order to make PF transfer claims online.
Second part of Budget session of Parliament to resume today; CPI seeks to discuss EPFO interest rate
The second part of the Budget session of the Parliament will resume on Monday. Union Finance Minister Nirmala Sitharaman will table the Jammu and Kashmir budget for the financial year 2022-23 in Parliament on Monday.Second part of Budget session of Parliament to resume today; CPI seeks to discuss EPFO interest rate
Budget session of Parliament resumes from Monday
Top on the government's agenda would be getting Parliament's approval to the budgetary proposals and presentation of the budget for the Union Territory of Jammu and Kashmir. Finance Minister Nirmala Sitharaman is set to present the budget for Jammu and Kashmir in the Lok Sabha on Monday and it is expected to be taken up for discussion in the post-lunch sitting of the House.
Mamata slams Centre for slashing interest rates on EPF
West Bengal Chief Minister Mamata Banerjee on Sunday slammed the Centre for slashing interest rates on Employees' Provident Fund (EPF), sarcastically stating that it was "gift card" from the BJP government after the party's victory in Uttar Pradesh. Banerjee called for united protests to thwart this "anti-people step, which has been taken at the expense of farmers, workers and the middle class".
Reduction in EPFO interest rate BJP's 'return gift' to people following assembly poll win: Congress
Interest rate on employees' provident fund deposits on Saturday was proposed to be cut to a four-decade low of 8.1 per cent for the current 2021-22 fiscal from 8.5 per cent in the previous year, sources said.
EPFO mulling new pension scheme for formal workers getting over Rs 15K basic wage
At present, all those employees in the organised sector whose basic wage (basic pay plus dearness allowance) is up to Rs 15,000 per month at the time of joining service are mandatorily covered under EPS-95.
Karnataka's back on the job, and more
Karnataka has been at the forefront, with new subscribers to the EPF scheme climbing from over 10% of the nationwide figure in 2019-20 to 11.4% in April-October 2021.
Jobs: Karnataka bounces back, adds 3 million new jobs since September 2017
The 2021-22 saw the addition of net new payrolls surpass the pre-pandemic levels of 2019-20, according to the latest Economic Survey.
EPFO to take call on interest rate for 2021-22 in March
Asked whether EPFO would maintain the 8.5 per cent interest rate for 2021-22 as decided for 2020-21, Yadav, who also heads the CBT, said the decision would be taken on the basis of income projection for the financial year.
TDS on EPF: When TDS is applicable on EPF withdrawal, how to avoid it
If an EPF balance is withdrawn before 5 years of service, TDS is deducted at a rate of 10%. TDS will be deducted at the highest slab rate of 30% if PAN is not provided during withdrawal.
Ukraine war, pandemic and things like that: What should equity investors do in a volatile market?
Indian markets are much more resilient to such shocks than earlier. As an investor, keep reading the news but don’t let it affect your investment outlook. The more the geopolitical scenario gets volatile, the less volatile our approach to investing needs to be.
EPFO meet next month to finalise interest rate
The Finance Investment and Audit Committee of the EPFO will meet on Wednesday and is expected to discuss the earnings of EPFO till now, based on which it will recommend a rate of interest to the CBT.
Formal job creation surged in December 2021, shows new payroll data
The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, the Employees' Provident Fund Organisation (EPFO) and Pension Fund Regulatory and Development Authority (PFRDA). It has been releasing such data of these bodies since April 2018, covering the period starting from September 2017.
How to register or update mobile number, email ID in your EPF account
The correct mobile number must be updated/registered in your Employees' Provident Fund (EPF) account. This is because an OTP is sent to the mobile number to submit online claims for withdrawals, filing nominations, changing passwords etc.
CBI books EPFO officials for sharing data of subscribers with private PF consultants; receiving bribes
On getting an input that some EPFO officials are indulging in gross misconduct, the central probe agency had carried out joint surprise check with EPFO vigilance department in regional office in Guntur during which it seized the mobile phones of some employees with their consent.
Formal job creation jumped by 16.4% in December 2021
Month-on-month, EPFO registered a growth of 19.9% in December compared to November 2021 with the labour ministry revising down the net new additions in November from 1.39 million earlier to 1.21 million now.
EPFO onboards over 7000 Air India employees
According to the statement, the employees of Air India will now be entitled to receive an extra 2% employer’s contributions in their provident fund accounts at 12% of their wages. Earlier they were covered under the PF Act of 1925, where the contributions to the Provident Fund was at 10% by employer and 10% by employee.
Over 25 crore informal workers registered on e-Shram platform
Over 25 crore informal sector workers involved in 400 different occupations have registered on the e-Shram portal, Labour Minister Bhupender Yadav said on Thursday. The government had estimated that informal sector workers are involved in 160 occupations.
BMS to hold nationwide protest outside EPFO offices on Jan 20; demands Rs 5000 pension
“We have resolved to organize a nationwide dharna or a protest demonstration on January 20, 2022 in front of all EPFO offices and submit a memorandum addressed to the finance minister on long pending issues related to EPS-95 pensioners,” BMS said in a statement on Monday.
Different indicators on employment bounce back after dipping in April-June 2020: Economic Survey
The document stated that, as per quarterly Periodic Labour Force Survey (PLFS) data, up to March 2021, employment in urban sector affected by the pandemic has recovered almost to the pre-pandemic levels.
EPFO data suggests a significant acceleration in formalisation of the job market: Economic Survey
The net additional subscription witnessed a decline again in November 2020 and also during the second wave of Covid-19 (April-June 2021). However, the magnitude of decline in both the cases was less compared to that during April-May 2020. The monthly net additional EPF subscription during May 2021 was 5 lakh as against minus 2.9 lakh in May 2020.
EPFO onboards Air India, takes into fold 7,453 airline employees for social security benefits
"EPFO (Employees' Provident Fund Organisation) onboards Air India for social security coverage to service the social security needs of their employees. Air India Ltd applied for voluntarily covered u/s 1(4) of the EPF & MP Act, 1952 which has been allowed vide gazette notification on January 13, 2022 -- with effect from December 1, 2021," the ministry statement said.
Air India PF asset sale to weigh on bond market
Two provident-fund trusts at the Tata-bound carrier are selling an estimated ₹4,500-5,000 crore of bond portfolio, including debt sold by states, the Centre and some corporates, as the management of the corpus will now shift to the Employees' Provident Fund Organisation (EPFO) after the Tata Group takeover.
Formal job creation under ESIC fell by 17.1% to 1.02 million in November 2021
The formal employee addition under the Employees Provident Fund Organization, however, went up in November 2021 by 25.6% to 1.39 million compared to 1.11 million net new subscribers added in October 2021.
How to update date of exit in EPF account online
This facility is based on Aadhaar based one-time password (OTP). Thus it can be utilised by those who have activated their UAN and linked their UAN with a verified Aadhaar number and have mobile linked with Aadhaar number for receiving the OTP sent for verification
Formal job creation in India jumped by 37.9% in November 2021: EPFO data
Month-on-month, EPFO registered a growth of 25.6% in November or 0.28 lakh more subscribers added compared to 1.11 million net new subscribers added in October 2021.
When is EPS pension credited into pensioner's bank account?
The EPS ensures that private sector employees receive a pension once they reach the age of 58 years. The employee and employer each contribute 12% of the employee’s basic salary towards EPF.
How to withdraw money twice from EPF account for coronavirus emergencies
The provision to withdraw money from EPF accounts was first announced last year in March 2020 under the Pradhan Mantri Garib Kalyan Yojana (PMGKY).
EPFO adds 12.73 lakh subscribers in October
EPFO provides provident fund, pension benefits to the members on their retirement and family pension and insurance benefits to their families in case of untimely death of the member.
EPFO adds 12.73 lakh subscribers in Oct
Retirement fund body EPFO has added 12.73 lakh net subscribers in October, registering an increase of 10.22 per cent compared to the same month last year, according to the latest payroll data. "The provisional payroll data of EPFO released on 20th December 2021 highlights that EPFO has added 12.73 lakh net subscribers during the month of October 2021," a labour ministry statement said.
Is there a last date to file e-nomination in EPF account?
It is important to ensure that an individual makes a nominee in his/her EPF and EPS account so that after their demise, monetary proceeds can be easily given to the nominee.
EPFO moots entry of former members with minimum contribution of Rs 500 a month
A top government official told ET that work has started within the EPFO to work out a model that will enable individuals, who were earlier members of the organisation, to join back with a minimum monthly contribution of ₹500 or 12% of their monthly income.
Air India & Indian Airlines employees to come under the ambit of EPFO from January 1
The government is in the process of disinvesting its stake in Air India with Tata Group having won the bid to acquire the national carrier.
EPFO invested Rs 2,500 crore in Reliance Capital's bonds; asked Centre to initiate insolvency process, says FinMin
Ministry of Labour and Employment has informed that as the maturity date of these investment has not become due till date, there is no default on principal as on date, he said.
Maharashtra tops the list of Atmanirbhar Bharat Rozgar Yojana beneficiaries
The total beneficiaries under the scheme stands at 3.97 million spread across 0.11 million establishments and the total benefits granted as on December 4, 2021 stands at Rs 2612.10 crore, the minister said in response to a question in Lok Sabha on Monday.
How to correct/update date of birth in EPF online?
According to the tweet by EPFO, EPF members can update by submitting Aadhaar or e-Aadhaar on the Unified Member Portal if the difference in DOB is less than 3 years.
EPFO board to meet on Nov 20; investment options likely to be discussed
The finance, investment and audit committee of EPFO is expected to meet before the CBT meeting to take stock of the investments of EPFO till date and returns thereof. Sources told ET that the agenda of the meeting, shared with the CBT members, shows only regular, administrative issues that will be put up before the board members for information or approvals.
EPF withdrawal: How to file Covid-19 claim using Umang app
You can get a non-refundable withdrawal up to three months' worth of basic pay and dearness allowances, or up to 75 percent of the balance in your EPF account, whichever is less.
EPFO credits 23.34 crore EPF accounts with interest of 8.5% for FY2020-21: How to check PF balance
Employees who contribute to an EPF account can check their account balance using these methods: Umang App, EPFO Member e-Sewa online, SMS, or a missed call.
How to withdraw EPF money using Umang app?
The Umang app is one of the routes an Employees’ Provident Fund (EPF) member can take to withdraw money from their PF account.
EPF portal glitch: EPF members finding it difficult to e-file nomination; many take to Twitter to complain
Many EPF members took to Twitter to vent their grievances. Some said they haven’t been able to access the portal itself while other have said that they have not been able to add nominations.
EPFO adds around 1.54 million net subscribers in September
On a month-on-month basis, this is 0.18 million more compared to August 2021 when EPFO registered a net new addition of 1.36 million subscribers.
EPFO approves public sector InvITs, bonds as investment options
The government is of the opinion that if EPFO wants to give a high rate of returns to its subscribers year-after-year, it will have to follow the investment pattern notified by the finance ministry.
EPFO should stick to established PSU InvITs, REITs to maximise return: Analysts
Last week, the top decision-making authority of the EPFO permitted the body to invest up to 5 per cent of its annual deposits in alternative investments, including infrastructure investment trusts (InvITs) of public sector entities.
What is the last date for submitting annual life certificate or jeevan pramaan patra?
The last date to submit an annual life certificate or Jeevan Pramaan Patra for Employees' Pension Scheme, 1995 pensioner and government pensioner is different. February 28, 2022 is not the last date for submission of life certificate for every pensioner.
Formal job creation on the rise: MoSPI
As per the govt data, 1.33 million new subscribers were added under the ESIC, while the addition under the NPS stood at 72,923.
Automatic transfer of your EPF accounts on job change to happen soon
The Central Broad of Trustees, EPF has approved the development of a centralised IT-enabled system. This will help in the automatic merger/transfer of EPF accounts from the old employer to the new one.
A welcome shift in retirement savings
The EPFO will have the option to invest in AIFs whose corpus is equal to or more than ₹100 crore, with maximum exposure to a single AIF capped at 10% of the AIF size.
Aadhaar-UAN linking deadline extended till November 30, two and half months after expiry of old one
In May 2021, the government made it mandatory for UAN to be linked with the Aadhaar number. This was done under section 142 of the Code on Social Security, 2020 through a gazette notification dated April 30, 2021.
3.29 million jobs created in 10 months under Aatmanirbhar Bharat Rojgar Yojana: EPFO data
Under the scheme, the government reimburses 24% - 12% each for employees and employers - for two years for all new formal jobs created in enterprises having up to 1,000 employees between October 1, 2020 and March 31, 2022. The scheme is applicable for employees earning less than Rs 15,000 a month.
How to find your UAN
The EPFO has a portal where subscribers can view account details, download EPF passbook and carry out transactions such as withdrawal of funds or transfer of PF money from one employer to another.
New players entering mutual fund space is good news for investors: N.S. Venkatesh, AMFI
"New entrants are welcome as it fosters a competitive spirit within the industry. These players will bring a diverse set of ideas. Other entrants will adapt newer technologies that will bring down the cost of operations which could be passed on to the investor," says N.S. Venkatesh CEO, AMFI .
EPFO adds 14.81 lakh net subscribers in August
Net subscriber addition increased by 12.61% as compared to July 2021, a labour ministry statement said. Nearly 5.62 lakh net subscribers exited EPFO, due to job change, but later rejoined.
Right Venture, LIC and EPFO
If more startups could be funded, the number of successes could climb. And LIC and EPF would secure higher returns for those who have put their savings in them.
Finance ministry approves 8.5% return on PF deposits for FY21
The move is expected to leave EPFO with a surplus of Rs 300 crore compared to the preceding financial year when it had a surplus of Rs 1000 crore.
EPFO subscribers may feel the pinch
Interest rate for FY21 may be cut further due to higher withdrawals, dip in contributions
Formal jobs creation higher in August; 1.46 million net subscribers added to EPFO: Mospi
Payroll data released by MOSPI today shows that 1.48 million formal jobs were created under the EPFO compared to 1.31 million created in July.
EPFO defers Aadhaar seeding with UANs for Northeast states, certain industries till Dec 31
“Considering the low Aadhaar penetration in the EPFO's administrative zone of north east region, time for mandatory seeding of Aadhaar in universal account number (UAN) for filing electronic challan cum return (ECR) is extended till 31.12.2021,” it said in a notification dated September 11.
LIC, EPFO may fund startups
As the government readies a strategy to bring investors and startups on a common platform, LIC and Employees’ Provident Fund Organisation (EPFO) are among those willing to fund startups.
Formal sector jobs created by EPFO jumps by 48% in August 2021: Payroll data
The increase in net new subscribers in August is, however, 12.9% higher compared to the revised net addition in July at 1.31 million. The provisional data for July last month had pegged the new subscribers at 1.46 million. Net new enrollments under EPFO stood at 0.83 million in April, 0.59 million in May and 1.01 million in June.
India Inc may rush to bond street amid signs cost of funds to rise
Companies including Indian Railway Finance Corporation, State Bank of India (IRFC), Punjab National Bank and IndusInd Bank are likely to raise about Rs 15,000 crore in one or two weeks.
EPFO may soon credit interest for 2020-21 in accounts of 60 mn subscribers
Another official said the finance ministry had raised issues about the rate of interest being higher compared with that of other government schemes, including public provident fund or small saving schemes.
Borrowers hasten plans to raise bonds after RBI's steps to cut easy money
Companies including Indian Railways Finance Corporation, State Bank of India, Punjab National Bank and IndusInd Bank are likely to raise about Rs 15,000 crore in one or two weeks, market sources told ET.
Formal job creation rebounded in June: EPFO data
“The impact of the second wave of COVID-19 pandemic waned during June 2021, leading to tremendous growth in net payroll additions as compared to April and May 2021,” EPFO said on Friday.
EPFO adds 14.65 lakh net new subscribers in July
The provisional payroll data of EPFO, released on Monday, shows of the total 1.46 million net subscribers added during the month, around 0.90 million new members have come under the social security coverage of Employees’ Provident Funds Scheme for the first time.
EPFO adds 1.28 million members in June
Provisional payroll data released by the EPFO showed that of the total 1.28 million net new subscribers, about 0.81 million came under the social security net of the EPFO for the first time.
EPFO decides to retain 8.5% rate of interest on EPF deposits for 2020-21
Retirement fund body EPFO on Thursday decided to retain 8.5 per cent rate of interest on provident fund deposits for the current financial year. EPFO has more than five crore active subscribers.EPFO decides to retain 8.5% rate of interest on EPF deposits for 2020-21
Delhi HC extends till November 31 deadline to seed Aadhaar with UAN
The court said that for employees whose Aadhaar numbers have already been provided to the EPFO, the provident fund shall be permitted to be deposited by the employers without awaiting verification from the Unique Identification Authority of India while the process of verification goes on.
July witnessed surge in hiring across establishments and industries: Mospi
1.46 million net new subscribers were added to the retirement fund body EPFO in July. This is the highest enrollment in this financial year so far and is 31.28% higher than in June when 1.11 million net new subscribers were added to the EPFO.
Linking EPF with Aadhaar mandatory now: How to check if UAN is linked with Aadhaar number
The government has made it mandatory for UAN to be linked with Aadhaar so that employers are able to file Employee Cum Return (ECR) challan and deposit the money into your EPF account from September 1, 2021. Here's how you can check if your UAN is linked to Aadhaar.
LIC, EPFO make no headway in efforts to sell Reliance Capital papers
Almost the whole Rs 15,000 crore of Reliance Capital’s credit are supposedly secured lending, mostly through bonds (or non-convertible debentures). The unsecured share of credit is estimated to be at Rs 3,000 crore.
EPFO scam: 3 officials booked by CBI for multi-crore fraud
The Central Bureau of Investigation (CBI) has registered a case against three officials of the Employees’ Provident Fund Organisation (EPFO). The case is registered for corruption and cheating for allegedly diverting 2.71 crores between March last year and June when the pension fund organization had relaxed certain norms due to Covid unemployment rates. According to the sources, the accused knew the system and its loopholes well and used the data of migrant workers to defraud the organization during the pandemic. The case has been registered based on a complaint received from the vigilance department of the EPFO. EPFO scam: 3 officials booked by CBI for multi-crore fraud
EPFO raises Rs 1,181-cr demand on Sahara for unpaid PF, pension dues
The development comes nearly eight years after the issue of compliance failure was brought up by the EPFO in 2013.
About 12% EPFO subscribers yet to get interest payment for FY20
Every year, the EPFO credits interest on establishment basis and not on individual basis. If the details of even one employee in the establishment do not match, payments to the entire establishment get stuck resulting in delays. This year, this glitch has impacted a considerable number of establishments.
No formal sector job loss during Covid as per EPFO payroll data, says government
“It is observed that there is addition in net payroll as represented by EPFO subscriber base in each month of 2020-21 except for the month of April and May 2020,” state labour minister Ramesawar Teli said.
EPFO extends deadline for mandatory UAN-Aadhaar for establishments in North East to December 31
The labour ministry on May 5 specifically clarified that the government has only notified the particular clause – “Section 142” of the Code on Social Security and as other provisions of the Code were pending, Aadhaar should not be made mandatory at this stage.
EPFO likely to declare rate of interest on EPF deposits for 2020-21 on March 4
Speculation is rife that the EPFO may lower interest on provident fund deposits for this fiscal (2020-21), from 8.5 per cent it provided for 2019-20,in view of more withdrawals and lesser contribution by members during this fiscal mainly due to the COVID-19 pandemic.