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 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 Employees’ Provident Fund Organization (EPFO) has made updates to the member profile updation process to simplify it, benefiting 3.9 lakh members with pending requests. These members now have the ability to cancel pending requests and resubmit them under the new streamlined process. The EPFO system has undergone many updates. The latest is that members … Read more
The Employee Provident Fund Organisation (EPFO) emphasizes the importance of linking your bank account to your Universal Account Number (UAN) for quick access to your EPF balance, seamless transfers, and easy withdrawals. Ensuring that your UAN is seeded with your bank account is vital for the effective management of Employees’ Provident Fund (EPF) contributions and … Read more
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