The Employees’ Provident Fund Organisation (EPFO) has announced new amendments for the Employees’ Deposit Linked Insurance (EDLI) scheme, aimed at strengthening financial protection for families of deceased EPF members. These changes, announced in a meeting on February 28, 2025, are expected to benefit thousands of families annually by enhancing insurance payouts and extending coverage. EPFO … Read more
Union Labour Minister Mansukh Mandaviya announced that the Employees Provident Fund Organisation (EPFO) is set to introduce its advanced software system, EPFO 3.0, by June this year. Speaking to reporters on Thursday, Mandaviya said that the new system will offer a level of efficiency comparable to the banking systems in the nation, with a more … Read more
EPFO Update: The Centre was recently requested to provide details regarding the investment of provident fund money by the Employees’ Provident Fund Organisation in the last five years. Lok Sabha member T. Sumathy Alias Thamizhachi Thangapandian inquired about EPFO’s investments in debt instruments and Exchange Traded Funds (ETFs) and requested specific information. In response, Minister … Read more
Now, members and subscribers can withdraw Rs 1 lakh from their PF account instead of previous limit of Rs 50,000. Union Labour minister Mansukh Mandaviya announced this earlier this week on the occasion of the government’s 100 days in office. The Employees’ Provident Fund Organisation (EPFO) oversees various employee-related schemes, such as provident fund, pensions, … Read more
The Employees’ Provident Fund Organisation (EPFO) has announced some concessions for processing physical claims of dead claimants who didn’t have their Aadhaar seeded with their accounts. The May 17 circular amended its previous order on September 9, 2020, regarding claim settlement in the absence of the Universal Account Number (UAN) in the case of an … Read more
The Employees’ Provident Fund Organisation (EPFO) has a system in place that can simplify the process of transferring provident fund (PF) balances after changing jobs. Before this, employees changing jobs had to manually request a transfer of their PF balance to their new employer’s account. Under the automatic transfer system, the PF balance can be credited … Read more
The Employees Provident Fund (EPF) investment is a retirement savings scheme. However, its contributions offer several tax benefits, making it an effective tool for saving on taxes. Contributing a portion of your salary to the EPF account every month allows you to enjoy multiple tax benefits and ensure a financially secure future. Investing in EPF … Read more
The Employees’ Provident Fund Organisation (EPFO) has removed Aadhaar from the list of acceptable documents for proof of date of birth (DoB). In a circular (No: WSU/2024/1/UIDAI Matter/4090) issued on January 16, the employment body said that the decision has been taken following a directive from the Unique Identification Authority of India (UIDAI) as detailed … Read more
The Employees’ Provident Fund Organisation has invested Rs 27,105 crore in exchange traded funds between April and October this fiscal, which is about 51% of its investments in the instrument in the whole of last fiscal. In all, the EPFO has invested Rs 2.55 lakh crore in ETFs between 2016-17 and October 31, 2023. It … Read more
Formal job creation under the Employees’ State Insurance Corporation remained flat in June when compared to May with addition of 2.02 million new subscribers. ESIC had added 2.02 million subscribers in May and 1.78 million formal workers in April. As per the provisional payroll data of ESIC, released by the ministry of labour and employment … Read more