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New Delhi According to a notification attached, Government has provided more time to submit their...
The Employees Provident Fund Organisation EPFO has decided to extend the minimum assurance benefi...
New registration for EPFO, ESIC stopped on Shram Suvidha Portal, now it is to be done on the ministr...
EPFO cuts interest rate on deposits to 8.50% for FY20; move to affect 6 crore salaried employees The Employees’ Provident Fund Organisation (EPFO) on Thursday lowered the interest rate on provident fund deposits to 8.50% for FY20 (2019-20) from 8.65% in FY19 (2018-19), Labour Minister Santosh Gangwar said on Thursday. The new rate is 15 basis points below the figure for […]
Salaried employees could face a cut in interest on their provident fund (PF) deposits in the Finacial year 2020. After the cut, the interest rates on PF deposits would drop to 8.5%. EPFO is considering slashing the interest rates on the provident fund by 15 basis points. If that follows through, employees would face a […]
The Government on February 20, 2020, has notified the restoration of full pension after 15 years of retirement for pensioners under the Employee Provident Fund (EPF) Scheme who have commuted part of their pension at the time of retirement. The move is expected to result in a substantial increase in pension for those Employees Provident […]
The central government has decided to make life easier for Senior Citizens to submit their Annual Life Certificate for the continued pensions. Now pensioners under the EPFO can submit their life certificates online anytime during the year. The retirement fund body said the reforms initiated in submission of life certificate or Jeevan Pramaan Patra benefits […]
EPFO will launch an e-inspection system across the country for monitoring voluntary compliance of the EPF scheme by employers. The EPFO is a firm believer in voluntary compliance and wants to understand the industry issues in case of default and non-compliance of the scheme, Central Provident Fund Commissioner Sunil Barthwal said. “The EPFO will start an e-inspection system to […]
The Labour and Employment Ministry said procedures and policies are being streamlined to ensure speedy redressal of grievances related to EPFO, ESIC and other entities under it. In 2019, there were a total of 9,02,203 complaints on the EPFi Grievance Management System (EPFiGMS) and out of them, 8,38,579 complaints were disposed of, as per official […]
The ESI Corporation has decided to increase Confinement Expenses paid to pregnant women, who are not able to avail maternity services of ESIC dispensaries from Rs 5,000 to Rs 7,500. The decision was taken at the 181st meeting of the corporation held on Thursday under the chairmanship of Labour Minister Santosh Kumar Gangwar. “Keeping in […]
While the government has decided to rejig the tax structure by introducing new slabs and reducing tax rates in almost all categories, your contribution towards employees provident fund, national pension system, and other investment instruments might become taxable. “Employer’s contribution to provident fund, NPS and superannuation worth more than 7.5 lakh a year will be […]
The government has found 9 lakh beneficiaries in as many as 80,000 companies took benefit of the Centre’s job formalization scheme, Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), even though they were not eligible, leading to around Rs 300 crore loss to the exchequer. According to a report published in the Business Standard, These companies allegedly […]
Ministry of Labour and Employment has taken a number of initiatives for bringing transparency and accountability through reforms and enforcement of Labour Laws, with the objective of strengthening the safety, security, health, social security for every worker and bringing ease of compliance for running an establishment to catalyze the creation of employment opportunities. These initiatives […]
Ministry of Labour and Employment has taken a number of initiatives for bringing transparency and accountability through reforms and enforcement of Labour Laws in 2019. Based on data received from The Ministry of Labour and Employment, below are major steps taken by ESIC in 2019. Rate Reduction in ESI Contribution The ESI Corporation has reduced […]
Ministry of Labour and Employment has taken a number of initiatives for bringing transparency and accountability through reforms and enforcement of Labour Laws in 2019. Here are the major initiatives were taken in EPFO. Three new apps to improve service delivery of subscribers were launched by Shri Santosh Kumar Gangwar, Minister of State (I/C) for […]
