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
Retirement fund body EPFO has made equity investment of Rs 7,715 crore in the first quarter of this fiscal, Parliament was informed on Monday. The EPFO can invest up to 15 per cent of investment in equity as per the Pattern of Investment notified by the central government and the internal guidelines of the EPFO … Read more
The rate of unemployment in India for persons 15 years and above stood at 6%, 5.8% and 4.8% respectively for 2017-18, 2018-19 and 2019-20, minister of state for labour and employment Rameswar Teli said. “The government of India has taken a number of initiatives for promoting employment generation in the country,” the minister said in … Read more
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
Net new enrolments with retirement fund body EPFO grew 27.79 per cent to 13.36 lakh in January compared to the same month in 2020, according to the payroll data released on Saturday, providing a perspective on formal sector employment amid the pandemic. “The provisional payroll data of EPFO published on 20th March, 2021 highlights a … Read more
Net new enrolments under the retirement fund body Employees Provident Fund Organisation grew by 24% to 12.54 lakh in December compared to the same month in 2019, providing a perspective on formal sector employment amid the coronavirus pandemic. The provisional payroll data of EPFO, released on Saturday, highlights a positive trend for net subscribers base … Read more
Retirement fund body EPFO has settled 56.79 lakh COVID-19 non-refundable advance claims, and has disbursed Rs 14,310 crore till December 31, 2020, reflecting the adverse impact of the pandemic on the formal sector workforce. When the coronavirus-induced lockdown was imposed in March, the central government had allowed over 6 crore subscribers of the Employees‘ Provident … Read more
In a move aimed at improving the ease of doing business, government has allowed bulk transfer of provident fund from exempted establishments to the Employees‘ Provident Fund Organisation in one go. The move is expected to benefit 1500 exempted establishments of EPFO. Till now exempted establishments had to approve and transfer the funds one-by-one for … Read more
New Delhi: India could throw open its key social security scheme — the Employees’ Provident Fund to individuals, a top government official told ET. The move is expected to help the government expand social security coverage to more than 90% of workers not falling under any social security scheme at present. Lawyers, doctors, chartered accountants … Read more
NEW DELHI: As much as Rs 30,000 crore has been withdrawn in under four months starting April by 8 million subscribers of the Employee Provident Fund Organisation. EPFO manages a corpus of Rs 10 lakh crore built on mandatory contributions from nearly 60 million salaried people and their employers. The huge outgo is likely to … Read more