Latest EPFO HR Trends, workforce insights, and expert analysis. Stay updated with the latest news on EPFO.
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Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya, unveiled the Employees’ Provident Fund Organisation (EPFO)’s provisional payroll data for the month of July 2024. This release marks a historic milestone, as it represents the highest recorded increase in net members since payroll data tracking began in April 2018. Overall […]
In a significant move aimed at providing financial flexibility to subscribers, the Indian government has raised the withdrawal limit for the Employees’ Provident Fund (EPFO) to ₹1 lakh. Additionally, there are indications that the salary ceiling for EPF contributions may also see an upward revision. Enhanced Withdrawal Limit and Eligibility for New Employees Union Labour […]
The Centralized Pension Payment System (CPPS) for the Employees’ Pension Scheme (EPS) 1995 has received government approval. Union Minister of Labour and Employment, Dr. Mansukh Mandaviya, announced this landmark decision. This will allow EPS pensioners to receive their pensions from any bank, branch, or location across India starting from January 1, 2025. What Is the Centralized […]
The Employees’ Provident Fund Organisation (EPFO) has witnessed a significant surge in net member additions during June 2024. This growth reflects both increased employment opportunities and the effectiveness of EPFO’s outreach programs. Key Findings from EPFO Total Net Members Added: In June 2024, EPFO added a remarkable 19.29 lakh net members, marking a substantial increase […]
The Ministry of Labour and Employment has put forth a significant EPF proposal that could impact millions of employees across India. The government is considering raising the wage ceiling for calculating provident fund contributions—from the existing Rs 15,000 to Rs 21,000. Let’s delve into the details: Background and Context Since September 1, 2014, the maximum […]
In a significant move aimed at streamlining EPFO processes and enhancing member convenience, Union Minister for Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya, inaugurated the ‘Online Facility for Surrender of Exemption from EPF Scheme’ in New Delhi. This cutting-edge online module, part of the EPFO Central IT System 2.01, promises to […]
The Employees’ Provident Fund Organisation (EPFO) continues its commitment to educating members and pensioners by organizing its 5th live session. Scheduled for 13th August 2024 at 12 noon, this interactive event will focus on the crucial topic of “EPF Transfer.” Whether you’re a working professional, a retiree, or someone planning for the future, understanding EPF transfer processes is […]
The Employees’ Provident Fund Organisation (EPFO) has reported a substantial surge in new establishment registrations from the financial year 2019-20 to 2023-24. This upward trend reflects the success of government policies and initiatives aimed at promoting business formalization and generating employment opportunities across India. Impressive Growth Figures The EPFO’s data reveals a remarkable trajectory: Digitization […]
In a legal clash, Tata Motors finds itself at odds with the Employees’ Provident Fund Organisation (EPFO) regarding the transfer of its pension funds. The automaker, which maintains its own exempted pension fund, had initially sought to relinquish this exemption status and transfer its employee provident fund corpus to the EPFO. However, the EPFO has […]
The Union Budget 2024-25 was released on July 23, 2024 with major initiatives for EPFO employees. In her Budget speech, Union Finance Minister Nirmala Sitharaman announced three employment-linked incentive schemes. These are aimed at increasing hiring and recognizing the contributions of first-time employees. These schemes are closely tied to enrolment in the Employees’ Provident Fund […]
In a significant development, the Employees’ Provident Fund Organisation (EPFO) has reported the highest-ever net addition of 19.50 lakh members during May 2024. This remarkable surge in membership marks a pivotal moment for India’s organized workforce and underscores the growing awareness of employee benefits and social security programs. Key Highlights It is significant to note […]
The EPFO Association has urgently appealed to the Union Labour Minister to enhance the IT infrastructure of the retirement fund body. In a letter sent earlier this week, the EPFO officers highlighted ongoing requests for upgrading the EPF’s IT systems, including software, hardware, and IT manpower. These deficiencies have severely strained EPF personnel and negatively […]
