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
Formal job creation under the Employees’ Provident Fund Organisation (EPFO) was a tad lower in February 2023 at 1.39 million compared to 1.41 million in February 2022, shows the labour ministry data. As per the provisional data, released on Thursday, formal job creation fell slightly when compared month-on-month with net new employees added to the … Read more
The Centre of Indian Trade Unions (CITU) has urged Central Provident Fund Commissioner Neelam Shami Rao for a “substantial extension of time” beyond March 3 for workers to submit joint options with employers to the Employees’ Provident Fund Organisation (EPFO) for receiving higher pension. CITU general secretary Tapan Sen, in a letter, said the circular … Read more
Employees Providend Fund Organisation building at Bandra. | Photo Credit: Surpreet Sapkal Implementing the recent Supreme Court order on higher provident fund pensions, the Employees’ Provident Fund Organisation (EPFO) has made a provision in the member’s portal so that retired workers can opt for higher pension. The EPFO has started taking registration requests from employees … Read more
Employees’ Provident Fund Organisation headquarters in New Delhi. File | Photo Credit: KAMAL NARANG Without any guidelines to implement the recent Supreme Court order on higher Provident Fund (PF) pension, the staff in various offices of the Employees’ Provident Fund Organisation (EPFO) have asked their head office for a “direction” to address the queries from thousands … Read more