The Employees' Provident Fund Organisation (EPFO) is the statutory body under the Government of India's Ministry of Labour and Employment, which is responsible for regulation and management of provident funds in India. The EPFO administers the mandatory provident fund. It also manages social security agreements with other countries. International workers are covered under EPFO plans in countries where bilateral agreements have been signed. As of May 2021, 19 such agreements are in place. The EPFO's top decision-making body is the Central Board of Trustees (CBT), a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF More
The deadline for employees to file their joint applications to claim pension on their actual, instead of statutory salary, is June 26.
Among the newly joined members, the highest enrolment is registered in the age group of 18-21 years with 2.35 lakh members, followed by the age group of 22-25 years with 1.94 lakh members.
The extension comes a day before the current deadline for the submission of applications was set to expire.
From opting for higher pension to strengthening the conduct of investment advisers and research analysts, and e-wallets to comply with KYC norms for investing in mutual funds to SBI card reducing benefits to credit cardholders, a lot is happening. Here’s what to watch out for in May.
While higher pension is desirable, numerous rules and grey areas make the decision-making process a complex affair. Here is a list of things you need to be aware of.
Employees opting for a higher pension contribution will be required to make the additional contribution of 1.16 percent to be moved from the employee’s share of the Provident Fund to the Pension Scheme.
All other online services, including the UMANG app, have been restored, says the social security organisation. The EPFO e-passbook facility is very popular as users frequently access it to ascertain their EPF balance and the status of interest credit for the financial year.
The provisional payroll data of the Employees' Provident Fund Organisation released on Thursday highlighted that EPFO has added 13.96 lakh net members in February 2023.
EPFO had declared 8.1 percent as the rate of interest for 2021-22, which is the lowest in four decades. The last time the interest rate slipped to 8 percent was in 1977-78
The EPFO board is meeting on March 27 and 28 to discuss the higher salary-linked pension, FY23 interest rates and annual financial estimates. Its investment in Adani stocks could be taken up for discussion
The decisions taken by the board will affect around 6 crore active EPFO subscribers. Here’s a look at the issues that will likely be taken up during the two-day meeting of the Central Board of Trustees
Around 3.54 lakh members exited the fold of EPFO which was the "lowest exit" in the last four months, the ministry said.
The interest rate is anticipated to remain close to 8 percent as the EPFO calculates its earnings
Employees and employers have to submit a joint declaration before May 3 for employees to be eligible for higher pension in line with the Supreme Court’s November 2022 verdict.
A new process was introduced by EPFO last week, which allows both employees and their employers to apply together for an increased pension under the Employees' Pension Scheme (EPS).
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A higher pension, however, reduces your Employees’ Provident Fund corpus at retirement.
The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Monday highlighted that the body has added 14.93 lakh members in the month of December, 2022.
Hind Mazdoor Sabha General Secretary Harbhajan Singh Sidhu said, "About ten days ago, I raised the issue of non-crediting of interest rate of 8.1 per cent for 2021-22 with the EPFO officials. They told me that there is some issue with the system (software) and it would be resolved soon."
Earlier in November 2022, the Supreme Court had upheld Employees Pension (Amendment) Scheme 2014.
The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Friday by the ministry highlighted that the EPFO has added 16.26 lakh net members in the month of November 2022.
After more than a week of being inaccessible to employees’ provident fund (EPF) passbook, the facility was finally restored, allowing members to check their balance and interest credit details
Several ex-employees have alleged that the company has been deducting TDS and PF from employees' salaries but not depositing the same.
The e-passbook facility provided by the Employees’ Provident Fund Organisation is a popular one where subscribers can check monthly contributions being by their employers as well as employee contribution and their overall EPF balance.
The apex court in its order gave four more months to eligible subscribers to opt for higher pension under EPS-95.