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In a major step to improve pension services, the Employees Provident Fund Organization EPFO succe...
EPFO is set to undergo several significant changes in , impacting millions of salaried individua...
In October , formal job growth in India experienced a significant slowdown, as reported by MoSPI...
EPFO has reported a significant increase in its membership numbers for October 2024, with a net addition of 13.41 lakh members. This growth is indicative of increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives. EPFO: New Membership and Youth Dominance Out of the total new members, 7.50 lakh […]
Employees’ Provident Fund Organization (EPFO) is set to revolutionize provident fund (PF) withdrawal process by introducing e-wallet access and ATM withdrawals. This employee-friendly initiative aims to make withdrawals faster and more convenient for millions of employees across India. EPFO PF Withdrawal: Current Process and Challenges Currently, employees have to rely on EPFO portal to receive […]
EPFO has announced an extension of the deadline for employers to process and upload pending applications for higher pensions under EPS 1995. This extension comes as a response to multiple requests from employers and their associations for additional time to complete the required submissions. The final deadline for employers to upload wage details and process […]
On Monday, NK Premachandran of the Revolutionary Socialist Party (RSP) called for the immediate implementation of the enhanced pension scheme, as approved by the Supreme Court. The Court’s ruling on November 4, 2022, allowed existing employees to opt for a higher pension under the Employees’ Pension Scheme (EPS) of 1995. Premachandran emphasized that employees are […]
Ministry of Labour and Employment has announced that over 30.4 crore informal workers have registered on e-Shram portal as of December 1, 2024. This massive registration drive aims to create a comprehensive National Database of Unorganised Workers (NDUW), providing these workers with a Universal Account Number (UAN) on a self-declaration basis. Significance of e-Shram Portal […]
Supreme Court Ruling and EPFO’s Higher Pension Rollout The Employees’ Provident Fund Organisation (EPFO) has issued approximately 16,282 pension payment orders under EPS-95 Higher Pension following the Supreme Court’s November 2022 ruling. The judgment upheld amendments to the EPS, allowing members who were part of the scheme as of September 1, 2014, to contribute 8.33% […]
The Employees’ Provident Fund Organisation (EPFO) is set to introduce EPFO 3.0, a new initiative that will allow employees to increase their provident fund contributions. This move aims to enhance the retirement savings of employees and provide them with greater financial security in their post-working years. EPFO 3.0: Enhancing Retirement Savings With the introduction of […]
The Labour Ministry has directed the Employees Provident Fund Organization (EPFO) to enhance its IT infrastructure and capacity in preparation for the launch of the Employment Linked Incentive (ELI) Scheme. This initiative is part of a broader government effort to boost employment, as announced by Finance Minister Nirmala Sitharaman in the Union Budget. ELI Scheme: […]
Ministry of Labour and Employment has issued a directive to Employees’ Provident Fund Organisation (EPFO) to ensure the activation of Universal Account Numbers (UAN) for employees using Aadhaar-based One-Time Password (OTP). This initiative is part of the government’s broader push for 100% Aadhaar-based biometric authentication and aims to streamline access to EPFO services. EPFO UAN […]
EPFO has announced a significant increase in its membership numbers for September 2024, with a net addition of 18.81 lakh members. This marks a notable 9.33% year-on-year growth compared to the same month last year. EPFO: New Membership, Growth and Rejoining Members In September 2024, EPFO enrolled around 9.47 lakh new members, representing a 6.22% […]
Employee Provident Fund (EPF) is a valuable savings tool for employees. Contributions aim to ensure future financial security. In EPF accounts, both employees and employers contribute 12% of the employee’s salary each month. Staying updated on your Provident Fund (PF) balance is essential for effective financial planning. To check your EPF balance, ensure your Universal […]
The Secretary of Labour & Employment chaired the 109th Meeting of the Executive Committee of Central Board of the Employees’ Provident Fund Organisation (EPFO). The meeting, held in New Delhi, addressed various key issues and initiatives aimed at enhancing the welfare and benefits of EPFO members. Key Highlights of EPFO 109th Meeting The committee discussed […]
