Employee Provident Fund Organization: HR News, Trends & Workplace Insights

Latest Employee Provident Fund Organization HR Trends, workforce insights, and expert analysis. Stay updated with the latest news on Employee Provident Fund Organization.

Updated on: Sep 2023

EPFO

EPFO Salient Features of Employees Deposit Linked Insurance

Sep 29, 2023

EPFO asked zonal offices to prepare budgets for pension schemes

The Employees Provident Fund Organisation EPFO has asked for Revised Estimates for the year...

EPFO

Sep 22, 2023

EPFO highest payroll addition . lakh net members in July

EPFOs provisional payroll data released highlights that EPFO has added . lakh net members in th...

EPFO

Sep 21, 2023

CBI court sentences PF office staffer to years jail for accepting bribe

The Central Bureau of Investigation CBI court has sentenced a staff of the Provident FundnbspPF...

Industry

Sep 18, 2023

CBI court sentences PF office staffer to years jail for accepting bribe

EPFO

Employers will pay damages & interest on amount due, @Rate…

One of the World’s largest Social Security Organisations, The Employees’ Provident Fund Organisation (EPFO) employers defaulting on contributions are liable to pay damages and Interest on the amount due. The Employees Provident Fund Organisation said that employers defaulting on contributions are liable to pay Damages u/s 14B and interest u/s 7Q on the due amount. The employers […]

Sep 11, 2023

EPFO

EPFO Benefits Payable to Widow/Widower & Children under EPS-95

There are several schemes under the Employees’ Provident Fund Organisation. Under this scheme, EPFO announces benefits payable to children, widows & widowers under EPS’95. The EPFO shared in a Tweet the benefits payable to the widows/ widowers and children under this particular scheme. The Tweet said, “Benefits payable to Widow/Widower & Children under EPS’95.” Benefits payable […]

Sep 8, 2023

EPFO

EPFO issues fresh guidelines for granting exemption to establishments

The Employees’ Provident Fund Organisation (EPFO) has issued a fresh standard operating procedure (SOP). These SOPs describe the process and proposals of establishments seeking exemptions from the operation of the Employee Provident Fund (EPF) scheme. INTRODUCTION Establishments that seek to maintain their own Provident Fund Trusts apply for a grant of exemption under Section 17 […]

Sep 7, 2023

EPFO

EPFO issues new process to update/correct name, date of birth etc

Employees’ Provident Fund Organization (EPFO) has issued a new procedure for Employees’ Provident Fund (EPF) members to correct or update their details. According to the circular issued by EPFO, a Standard Operating Procedure (SOP) has been issued to correct many other details including name, date of birth and gender of EPF members. Joint Declaration is […]

Sep 4, 2023

EPFO

EPFO adds 17.89 lakh net members in June 23 highest since Aug 22

EPFO provisional payroll data released on 20th August, 2023 highlights that EPFO has added 17.89 lakh net members in the month of June, 2023. The data reveals that 3,491 establishments have extended social security cover of EPFO to their employees by remitting their first ECR during the month. Month-on month comparison of payroll data shows […]

Aug 21, 2023

EPFO

EPFO: Employers defaulting on contributions are liable to pay damages

Aug 17, 2023

EPFO

Central Government Ratifies 8.15% Interest Rate on EPFO

Recently, The Central Government has ratified the interest rate of employees’ provident fund (EPF) subscribers to 8.15% which will cover over 6 crore subscribers. The circular said, “The Ministry of Labour and Employment, Government of India, has conveyed the approval of the Central Government under para 60(1) of Employees’ Provident Fund Scheme, 1952 to credit […]

Jul 24, 2023

EPFO

EPFO adds 16.30 lakh net members during the month of May, 2023

EPFO’s provisional payroll data released on 20th July, 2023 highlights that EPFO has added 16.30 lakh net members in the month of May, 2023. The data reveals that 3,673 establishments have extended social security cover of EPFO to their employees by remitting their first ECR during the month. The data indicates that around 8.83 lakh new […]

Jul 21, 2023

Industry

CBI books EPFO official, 13 Jet Airways employees: PF fraud case

The Central Bureau of Investigation (CBI) has registered an FIR against an EPFO official, and 13 ex-employees of Jet Airways in the PF claims fraud case. The FIR Copy read, “Bamne was found to be involved in various fraudulent activities. While working as Dealing Assistant in Accounts Section in Kandivli, Bamne received illegal gratification in his […]

Jul 14, 2023

EPFO

ESP-95 Higher Pension: EPFO sets a deadline for validation of joint declaration

One of the World’s largest Social Security Organisations, The Employees’ Provident Fund Organisation (EPFO) sets 20 days deadline for field offices for validation of joint applications under EPS-95, higher pension. EPFO has issued a circular dated June 2, 2023, that has provided the information regarding the joint declaration option. The EPFO aims to streamline the […]

Jun 12, 2023

EPFO

EPS-95 Higher Pension: important factors to consider before opting

The EPS-95 Higher Pension has faced a lot of confusion and explanation on its calculations. Further, Hon’ble Supreme Court held the requirement of the members to contribute at the rate of 1.16% of their salary to the extent such salary exceeds Rs.15000/- per month as an additional contribution under the amended scheme to be ultra vires […]

May 27, 2023

EPFO

Higher Pension: Employer’s contribution to EPS will be 9.49%

The Hon’ble Supreme Court, in its judgment dated 04.11.2022 in Civil Appeal No. 8143-8144 of 2022 titled the Employees Provident Fund Organisation & Anr. etc. Vs. Sunil Kumar B. and Ors. etc., while upholding the validity of the amendments made to the Employees’ Pension Scheme,1995 (EPS,1995) vide G.S.R 609 (E) dated 22.08.2014 (effective from 01.09.2014) had […]

May 12, 2023