Employees' Provident Fund Organisation

The retirement fund body says drafting inconsistencies in the Employees' Provident Fund Scheme, 2026 created ambiguity and do not reflect any policy change for international workers

EPFO said nearly half of EPF members retire with just Rs 10,000-20,000 in their provident fund accounts, prompting the introduction of a mandatory minimum balance under the new scheme

While subscribers get greater flexibility in making partial withdrawals, they should exercise this freedom judiciously so that they don't deplete their retirement corpus drastically

From simpler withdrawal categories to a longer wait for final settlement, here's what the new EPF Scheme changes.

EPFO has launched the upgraded CITES 2.01 platform, enabling faster claim processing and service delivery, with FY26 provident fund interest set to be credited by July 15

The notified framework under the Social Security Code retains contribution rates, eases withdrawal rules, mandates digital compliance and strengthens governance for exempted provident fund trusts

Employees' Provident Fund Organisation plans an exit policy as exposure to downgraded corporate debt rises, aiming to streamline decisions on selling stressed securities

Employees' Provident Fund Organisation finance panel seeks roadmap to clear suspense account balances by March 31 amid concerns over rising unclassified funds

Pilot to cover 7.11 lakh inoperative EPFO accounts with ₹1,000 or less; funds to be auto-credited to Aadhaar-seeded bank accounts without fresh claims

The EPFO data is considered crucial as it reflects the state of the formal labour market, and only the formal workforce enjoys social security benefits and is protected by labour laws

Applications that do not adhere to procedures or lack necessary documentation are disqualified

In its updated version, the EPFO will allow employees to contribute amounts exceeding the prescribed limit at any time, offering greater financial flexibility to subscribers

PLFS data shows it rose to 9% from 8.5% in urban areas

The Employees' State Insurance Corporation (ESIC) added 19.42 lakh new subscribers in August, according to provisional payroll data. "The provisional payroll data of ESIC reveals that 19.42 lakh new employees have been added in the month of August, 2023," the Ministry of Labour & Employment said in a statement on Friday. According to the data, around 24,849 new establishments have been registered and brought under the social security umbrella of the Employees' State Insurance Corporation in the month of August, 2023, thus ensuring more coverage. Data revealed that more jobs have been generated for the youth of the nation, as out of the total 19.42 lakh employees added during the month, 9.22 lakh employees up to the age group of 25 years constitute new registrations, which is 47.48 per cent of the total employees. Gender-wise analysis of payroll data indicates that net enrolment of female members has been 3.73 lakh in August, 2023. The data shows that a total 75 transgender ...

the share of women gaining employment declined to 26.8 per cent (274,967) in July as compared to 27.6 per cent (286,984) in the previous month

The new procedure contains direction for the establishments, regional offices, zonal offices and head office

From more expensive third-party motor insurance to pricey E2Ws to new rules for safe deposit lockers, read it all here

However, the option to avail higher pension by the existing employees is still open till May 3

The EPFO has added 16.26 lakh net members in the month of November 2022. The data indicates an increase of 25.67 per cent net additions compared to the previous month in October 2022

Retirement fund body EPFO added 16.26 lakh subscribers on a net basis in November 2022, which is 16.5 per cent higher compared to a year ago, the labour ministry said on Friday. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Friday by the ministry highlighted that the EPFO has added 16.26 lakh net members in the month of November 2022. The data indicate a 25.67 per cent increase in net additions compared to the previous month in October 2022, a labour ministry statement said. Of the total 16.26 lakh members added during the month, around 8.99 lakh new members came under the ambit of EPFO for the first time thus, showing that new members joining EPFO has increased by 1.71 lakh, from 7.28 lakh in October 2022. Among the new members, the highest enrolment is registered in the age-group of 18-21 years with 2.77 lakh members, followed by age-group of 22-25 years with 2.32 lakh members. The age group of 18-25 years constitutes 56.60 per cent of