Tag: Epfo

Taking to the Twitter, EPFO shared the benefits of filing e-nomination and why one should file the same.

If the retirement fund body accepts the proposal, it will enable EPFO to credit pension to the bank accounts of over 73 lakh pensioners throughout the country in one go. 

State-wise comparison of payroll figures highlights that the establishments covered in the states of Maharashtra, Karnataka, Tamil Nadu, Gujarat, Haryana, and Delhi remain in lead by adding approximately 10.14 lakh net subscribers during the month, which is 66.18 per centA of total net payroll addition across all age groups.

The Employees’ State Insurance Corporation (ESIC) has provided one-time relaxation for the employers to deposit contribution for the month of March 2022.

The EPFO has proposed cutting down the interest rate on provident fund deposits from 8.5 per cent in 2020-21 to 8.1 per cent for 2021-22.

In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.

It is pertinent to mention here that the Centre had notified new Income Tax (IT) rules in the month of September last year. The new rule for two separate accounts has been introduced to operationalise the new tax on PF income arising out of employee contributions exceeding Rs 2.5 lakh a year.

As per the EPFO's new rule, a subscriber can withdraw Rs 1 lakh for hospitalisation from the provident fund under ‘Medical Advance Claim’ without any paper work.

In a tweet, EPFO informed that the date for ABRY registrations has been extended till March 31, 2022.

The centralized system will facilitate de‐duplication and merger of all PF accounts of any member. The field functionalities will move on a central database in a phased manner enabling smoother operations and enhanced service delivery.

In March last year, the EPFO had lowered interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent in 2018-19.

EPFO said that the representations for extension of time beyond September 1, 2021 have been considered as it was noted that overall 94 percent of contributory EPF members’ UAN have Aadhaar seeding. But there is less percentage of Aadhaar seeding in UANs of contributory members in EPFO’s administrative zone of North Eastern region and in certain class of establishments, industries such as Beedi making, building and construction and plantation.

The EPFO had registered 12.83 lakh net payroll additions during the month of June, 2021.

New Delhi: With the recent ruling of the Supreme Court over hike in pension of crores of private sector employees, hopes are high that the pensions of the Employees’ Provident Fund Organisation (EPFO) members may rise by about 10 times. However, the hike can be materialised only if EPFO gives nod to extend the additional […]

New Delhi: The Employees’ Provident Fund Organisation is likely to consider a proposal to credit the subscribers’ share of its exchange traded funds (ETF) investments to their provident fund accounts which can be redeemed at the time of withdrawal. EPFO’s decision making body Central Board of Trustee (CBT) headed by Labour Minister Santosh Gangwar will […]