EPFO wage ceiling may be indexed to inflation gauge

The government is considering indexing the wage ceiling under the Employees’ Provident Fund Organisation (EPFO) to an inflation gauge or some other measure to allow periodic revision. The last revision in EPFO wage ceiling was done in 2014 when it was raised to ₹15,000 from ₹6,500. The issue was deliberated at the ad-hoc committee on … Read more

ESIC scheme adds 15.26 lakh new members in December

Around 15.26 lakh new members joined the ESIC-run social security scheme in December 2021 against 10.39 lakh in the previous month, official data showed on Friday, giving a perspective on formal sector employment in the country. The latest data is part of a report released by the National Statistical Office (NSO). Gross new enrolments with … Read more

EPFO should stick to established PSU InvITs, REITs to maximise return: Analysts

NEW DELHI: It is well known that real interest rates in India are currently deep in the negative territory, which is a key reason why investors looking for optimal returns rush to the equity markets. The quest for higher returns now has a new entity in its ranks — the Employees’ Provident Fund Organisation (EPFO). … Read more

EPFO adds around 1.54 million net subscribers in September

Formal job creation in the country continued to register month-on-month growth signalling a pick up in economic activity in the country as Covid cases remained low and business activities resumed to pre-Covid levels. The provisional payroll data of Employees’ Provident Fund Organisation, released on Saturday, shows EPFO added around 1.54 million net subscribers in September … Read more

Formal sector jobs created by EPFO jumps by 48% in August 2021: Payroll data

Formal sector jobs created under the Employees Provident Fund Organisation jumped by 48% in August 2021 at 1.48 million compared to 1 million created in August 2020 while it is 37% more than pre-Covid levels, shows the provisional payroll data by EPFO. Net new enrollments under EPFO stood at 1.08 million in August 2019. The … Read more

EPFO raised demand of Rs 33.97 cr from Sahara Group companies, matter sub-judice: Rameswar Teli

The Employees Provident Fund Organisation has raised a demand of Rs 33.97 crore from the Sahara Group companies and the matter is now sub-judice, state labour and employment minister Rameswar Teli said in response to a question in the Lok Sabha on Monday. “A demand for an amount of Rs 33, 97, 30,000 has been … Read more

Labour ministry defers mandatory Aadhar verification for filing monthly PF returns by 3 months

The labour ministry has deferred by three months the mandatory Aadhar verification for filing of monthly provident fund returns by employers. The move is aimed at ensuring statutory deposits are not held back because of this and comes as a breather to both employers and employees. “The date of implementation for filing ECR with Aadhaar … Read more