The corporate affairs ministry would introduce the form -- SPICe+ -- to offer 10 services.
So far, the EPFO has blocked the provident fund accounts of these employees and has recovered Rs 222 crore from the employers concerned
According to the SBI research report- Ecowrap, there is a decline in remittances in a few states like Assam and Rajasthan, reflecting downsizing of contractual labourers.
A decision on the interest rate is expected by the end of January.
Employees' Provident Fund Organisation (EPFO) is undertaking several digital initiatives including online Universal Account Number (UAN) generation facility for subscribers and e-inspection system for employers.
Under the commutation, monthly pension used to be cut by one-third for the next 15 years and the reduced amount was given in lump sum. After the 15 years, pensioners were entitled to get the full pension.
The Employees' Provident Fund Organisation (EPFO) is investing in ETFs based on Nifty 50, Sensex, Central Public Sector Enterprises (CPSEs) and Bharat 22 Indices.
In the past five years ETFs have seen their assets under management (AUM) jump more than 30-fold to Rs 1.47 lakh crore
You can nominate more than one person and also fix the share for each nominee online
This amount is only till March 2019 and the dues have since risen in the following months as the government faces continued financial pressure
The PFRDA regulates the NPS and the Atal Pension Yojana. The NPS is a voluntary contribution retirement scheme.
The big missing component in the draft social security code is ways to take care of unemployment in a proactive way
The unions have demanded that the proposed amendment should be deleted.
The proposal was sent for the concurrence of the finance ministry, and the labour ministry was waiting for its approval.
The Labour Minister said that ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 percent interest for 2018-19.
In case of liquidation, EPF money should get priority over other debts, says a labour ministry proposal. EPFO is seeking to recover Rs 574 crore from IL&FS and Rs 700 crore from DHFL.
Increasing take home salary by lowering employees’ mandatory contribution to PF is like enjoying today and leaving little for the rainy days
The worker's eligibility would depend on their age, gender or pay grade, while the employer's share will remain unchanged
The release quoted EPFO officers as saying that the process of claim has evolved from offline filing to digital and app-based platform and the next phase of advancement will be based on big data analytical platform that utilises artificial intelligence and machine learning to trigger all activities.
The move would benefit the pensioners who had opted for commutation and got a lump-sum amount at the time of retirement before 2009.
The Central Board of Trustees administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector
The proposal to double minimum monthly pension Rs 2,000 under the Employees' Pension Scheme, 1995, was deferred as employees' representative demanded for higher amount, the source added.
Raising the issue in the Lok Sabha during zero hour, Congress’s Manickam Tagore said the move if implemented will affect 60 million non-government employees in the country.