EPFO clears Aadhaar no longer valid as date of birth proof; birth certificate, marksheets to be submitted as documents 

EPFO clears Aadhaar no longer valid as date of birth proof; birth certificate, marksheets to be submitted as documents 

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

EPFO extends time for employers to upload wage details for higher pension till May 31, 2024

EPFO extends time for employers to upload wage details for higher pension till May 31, 2024

The Employees’ Provident Fund Organisation (EPFO) on Wednesday extended time for employers to upload wage details for higher pension by five months.  Extension of time for the employers for uploading wage details online etc. is till 31st May, 2024, said Ministry of Labour & Employment in a statement.  More than 3.6 lakh applications for validation … Read more

EPFO payroll data: 772,000 new entrants in October, lowest this fiscal

EPFO payroll data: 772,000 new entrants in October, lowest this fiscal

New members joining the Employees’ Provident Fund Organisation fell to a low of 772,000 in October, which was the lowest this fiscal, despite robust festive demand.   While this represented a 6.07% increase over October 2022, it was a 16.7% drop compared to September 2023. Before this, new entrants to the EPFO were below the … Read more

EPFO invested Rs 27,105 crore in ETFs between April and October 2023 

EPFO invested Rs 27,105 crore in ETFs between April and October 2023 

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 female workforce more than doubles under EPFO in 5 years

Formal female workforce more than doubles under EPFO in 5 years

India witnessed a surge in formal job creation for women since 2018-19 with net new addition of female employees under the Employees’ Provident Fund Organisation (EPFO) more than doubling in the last five years as companies become more inclusive and move towards greater gender parity. The payroll data for EPFO showed net new addition of … Read more

EPFO board approves framework for timely dissemination of information

EPFO board approves framework for timely dissemination of information

EPFO has approved a Communication Framework Document which will help in the timely dissemination of information within the retirement fund body and its stakeholders, an official statement said on Wednesday. The EPFO board also approved the Draft Audit Manual which will help standardize audit procedures, provide a training resource for employees, facilitate decision-making, and consolidate … Read more

Scheme for formal employment generation falls short of target

Scheme for formal employment generation falls short of target

The government has fallen short of its target for employment generation in the formal sector under the Aatmanirbhar Bharat Rojgar Yojana (ABRY), launched in 2020 at the time of the pandemic. As per latest government data, enrolments under ABRY stood at 6.04 million as on July 22, 2023, well short of the revised target of … Read more

EPFO looks to increase equity investments

EPFO looks to increase equity investments

The Employees’ Provident Fund Organisation is considering enhancing its equity exposure and reinvesting redemption proceeds from its investments in exchange-traded funds back in equity or related instruments, people familiar with the move told ET. The retirement fund body will soon approach the finance ministry to seek its clearance for investing the proceeds from ETFs in … Read more

Formal job creation under EPFO falls in February

Formal job creation under EPFO falls in February

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

Centre asks states to include statutory obligations in contract of employees hired through outsourcing agencies

Centre asks states to include statutory obligations in contract of employees hired through outsourcing agencies

Centre has asked states to include statutory obligations, like timely payment of minimum wages and mandatory contribution to social security funds among others, in the contract of employees hired through outsourcing agencies to protect the interest of the workers. Expressing concerns over underpayment to contractual workers, delayed payments and low deposits to EPFO and ESIC, … Read more