Epfo

EPFO to soon auto-process final PF withdrawals, speeding up payouts

EPFO will soon automate the process for settling final provident fund withdrawal claims, fast-tracking the money transfer to the applicant's bank accounts

EPFO plans risk-based inspection to replace discretionary checks

New framework will replace discretionary inspections with technology-driven compliance checks based on data analysis and risk profiling

Withdrawal of retirement provident funds to soon be automated: EPFO

Retirement fund body EPFO will soon automate the process for settling final provident fund withdrawal claims, fast-tracking the money transfer to the applicant's bank accounts, a top official said on Wednesday. The Employees' Provident Fund Organisation (EPFO) has more than seven crore members. At present, partial or advance withdrawal claims of up to Rs 5 lakh are settled through auto mode, and the deadline for the auto-settlement mode is three days from filing the claim. Speaking at the ASSOCHAM's National Seminar on New Labour Codes, Central Provident Fund Commissioner, EPFO, Ramesh Krishnamurthi, said, "We are also going to initiate, as far as feasible, auto-settlement for now...which was (available) only for advances. Now we are going in for auto-settlement of final withdrawals." He further added that the EPFO is going in for auto-settlement and auto-transfer of provident fund accounts in case a member shifts employers. "You don't have to file a form anymore. We try to ...

J&K staff integration: EPFO sticks to 2019 cutoff, sparks concern

The proposals also seek to withdraw a decision taken at the 235th CBT meeting in Feb 2024, which had recognised one such promotion, citing the need to maintain consistency with the earlier framework

EPFO's E-PRAAPTI portal explained: How to find old PF accounts without UAN

EPFO is launching a new portal, E-PRAAPTI, to help users track and access old or inactive PF accounts with ease. In this video, we explain how the new system by Employees' Provident Fund Organisation

EPFO to launch Aadhaar-based portal to unlock dormant PF accounts

EPFO will launch an Aadhaar-based portal, E-PRAAPTI, to help members access inactive PF accounts, retrieve unclaimed balances, and streamline account activation

EPFO replaces Form 15G/15H with 121: What it means for withdrawing money

EPF TDS exemption moves to Form 121, allowing simpler filing process but with stricter data checks and verification norms

BS Opinion wrap: India must harness its untapped services trade potential

From services trade trends and POSH gaps in IT firms to rupee volatility, labour reforms, and Arctic geopolitics, here are the key insights from today's Business Standard Opinion page

EPFO, ESI overhaul required to unlock India's formal jobs potential

The EPFO and ESI have resisted radical reinvention since 1991, illustrating how self-interested bureaucracies preserve their own interests by creating improbable scenarios of chaos

EPFO can't reject higher pension claims for employer lapses: Bombay HC

Court's order means the social security body must independently verify retirement claims using all available evidence rather than penalising workers for their firms' administrative failures

EPFO shifts recruitment to IBPS after NTA exit, eyes annual hiring cycle

Body signs MoU with IBPS for recruitment exams as NTA exits; plans annual hiring cycle to address staffing gaps and streamline processes

EPFO delays UPI-linked PF withdrawals to May-end amid final testing

EPFO to enable UPI-based PF withdrawals by May-end under CITES 2.0 upgrade, promising faster access but requiring a brief system shutdown during migration

EPFO looks to frame exit strategy amid rising stressed debt exposure

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

EPFO keeps interest at 8.25% for FY26: What it means for your savings

The Employees’ Provident Fund Organisation has recommended an 8.25% interest rate on EPF deposits for FY2025-26. This is the third straight year at the same level.

SC to hear challenge against EPF rules governing international workers

Supreme Court issues notice on plea challenging EPF Scheme provisions requiring foreign nationals working in India to contribute to provident fund

EPFO panel flags rising unclassified balances, seeks March-end roadmap

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

EPFO retains employees' provident fund interest rate at 8.25% for 2025-26

This is the second year in a row that the EPF interest rate has been kept unchanged at 8.25%

EPFO fixes 8.25% interest rate on employees' PF deposits for 2025-26

In February last year, the retirement fund body retained the 8.25 per cent rate of interest for FY2024-25

EPFO panel clears new SOP for exempted establishments, CBT to take call

EPFO's Exempted Establishment Committee has approved a consolidated SOP to streamline regulation of exempted establishments, replacing annual audits with risk-based reviews; CBT will review it next

Labour Ministry to auto-refund small balances in inoperative EPFO accounts

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