The Employees’ Provident Fund Organisation (EPFO) has introduced a novel relief measure enabling employers to settle old EPF dues through a one-time payment via demand draft. The EPFO recently announced that it will now be accepting one-time payments of past dues via demand draft, deviating from the standard online process where employers submit Electronic Challan-cum-Return … Read more
In a move aimed at improving the efficiency of its processes, the Employees’ Provident Fund Organisation (EPFO) has introduced two significant changes to its claim settlement procedure. These changes are designed to enhance the ease of living for EPF members and facilitate smoother operations for employers. Uploading images of cheques The first measure eliminates the … Read more
In a move to bolster the welfare of gig workers, the government is set to introduce a pension scheme requiring platform aggregators to contribute 2% of each worker’s income. This contribution will be deposited into the Employee Provident Fund Organisation (EPFO) account of each gig worker, ensuring additional financial security. The scheme is expected to … Read more
The Employment Provident Fund Organisation (EPFO) has achieved a significant milestone by resolving 60% of advance withdrawal claims through an automated payment mode. This approach has led to the settlement of 2.16 crore cases in the current financial year, surpassing the previous year’s settlement of 89.52 lakh claims. These details were shared by the Minister … Read more
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
PF interest rate for 2025: The EPFO Board announced on Friday that an 8.25 per cent interest rate has been fixed for employees’ provident fund deposits for the financial year 2024-25, sources cited by news agency PTI said. Earlier, in February 2024, the EPFO had raised the interest rate on EPF to 8.25 per cent … Read more
Surabhi Returns on provident fund contributions are likely to remain close to the 8.25% interest rate announced for last fiscal with a downward revision of a few basis points likely. The Central Board of Trustees of the Employees’ Provident Fund Organisation is set to meet on February 28 to discuss the interest rate on provident … Read more
The deadline for activating the Universal Account Number (UAN) and linking bank accounts with Aadhaar has been extended by the Employees’ Provident Fund Organisation (EPFO) to February 15, 2025. This extension allows employees to comply with the mandatory requirements for accessing benefits under EPFO’s Employment Linked Incentive (ELI) Scheme. The Ministry of Labour and Employment … Read more
The Central Board of Trustees of the Employees’ Provident Fund Organisation is set to meet on February 28 with the interest rate on provident fund deposits for 2024-25 likely to be the top agenda item.The formal agenda for the meeting is yet to be circulated; sources indicated that finalising the interest rate for the current … Read more
The Employees’ Provident Fund Organisation (EPFO) has introduced reforms to streamline the process of online transfer claims in certain cases. The implementation of this change is anticipated to streamline the PF transfer process, minimizing delays and enhancing efficiency. By utilising Aadhaar and maintaining consistent member information, EPFO is striving to offer a seamless transition for … Read more