Page 10 - Epfo

EPF members now receiving FY 2023-24 interest payments: Here's how to check

Pension manager says it has settled more than 2.304 mn claims and disbursed an amount of Rs 9,260 crore

SpiceJet faces new financial crisis over unpaid provident fund dues

SpiceJet faces new financial crisis: The last provident fund deposit by SpiceJet was made in January 2022 for 11,581 employees, as revealed by a query sent to the EPFO

EPFO gross new members addition dips 4% to 10.9 mn in 2023-24: Mospi report

Retirement fund body EPFO's gross new subscribers addition declined by over 4 per cent to 1.09 crore in 2023-24 compared to a year ago, as per a report by Ministry of Statistics & Programme Implementation (MoSPI). According to the report 'Payroll Reporting in India: An Employment Perspective January to April, 2024', the Employees' Provident Fund Organisation (EPFO) recorded 1,09,93,119 gross addition of new members in 2023-24 compared to 1,14,98,453 in 2022-23. The gross addition of new members was affected due to the pandemic and declined from 1,10,40,683 in 2019-20 to 85,48,898 in 2020-21. It bounced back to 1,08,65,063 in 2021-22. The Centre as well as states had imposed lockdown restriction in 2020 and 2021 to curb the spread of deadly coronavirus in the country, which had hit economic activities as well as employment. The data shows that in the last five fiscal years till 2023-24, the gross new members addition by EFPO had not recovered to pre-covid level of 2018-19. The ...

EPF withdrawal benefits extended to members with under 6 months of service

The move is expected to benefit more than 700,000 EPS members every year who leave the scheme with less than six months of contributory service

Government employee to get more salary as EPFO discontinues GIS

EPFO scheme acts as a social welfare programme under the Ministry of Labour and Employment

Fresh formal hiring at seven-month high in April, shows EPFO data

Earlier, in Sept 2023, 950,527 fresh formal employees had joined EPF. The EPFO data is considered crucial as only the formal workforce enjoys social security benefits and is protected by labour laws

EPFO discontinues Covid-19 advance facility: Check details of other options

A non-refundable advance was provided to the EPF members during the outbreak of the first wave of Covid-19 and another advance in the second wave

CITU opposes govt's move to lower penal charges on defaulting employers

Earlier on Saturday, the ministry of labour and employment issued a notification that significantly lowered the penal charges applicable on employers

Provident fund nomination: How it helps your family in getting pension

Members can now update their nominations online through the EPF members' portal

EPFO: How to add nominee to EPF account online? Here's a step-by-step guide

EPFO: Only spouse, children, and parents are considered family. Siblings can be nominated only if 'no' is selected under the 'Have Family' section

SBI MF assets top Rs 10 trn; becomes first fund house to achieve milestone

Becomes first fund house to reach the benchmark

Want to change/update your PF details online: EPFO has made it easier

The EPFO has operationalised a new software functionality on its website for PF members to update/correct their profile online

Gratuity hike setback, wellness retreat: Top personal finance stories

Our top stories this week tell you about EPFO's decision and the best well retreats in the country

Widow, orphan, and more: Know about various EPFO pension scheme types

Provident fund subscribers, their families, and nominees are eligible for various types of pensions under the EPFO

Hike in gratuity amount deferred: What it means for your financial planning

Private sector and government employees must review their retirement portfolio and track EPFO's announcements

EPFO update: Now, EPF death claims can be processed without seeding Aadhaar

EPFO's field offices encounter difficulties in updating or correcting Aadhaar details after a member's death

Jump in passive fund inflows in 2024 on new launches, EPFO boost

Passive funds attract Rs 37,200 crore inflows in 2024

New formal hirings at a 34-month low in March, shows EPFO payroll data

Share of youth, women slightly increased; net payroll additions down by 7%

Retirement fund body EPFO adds 1.44 million net members in March 2024

Retirement fund body EPFO has recorded a net addition of 14.41 lakh members in March this year, according to the latest payroll data released on Monday. The payroll data highlighted that approximately 11.80 lakh members exited and subsequently rejoined the EPFO (Employees' Provident Fund Organisation), a labour ministry statement said. According to the statement, these members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, safeguarding long-term financial well-being and extending their social security protection. The EPFO's provisional payroll data released on Monday also showed that the body has added 14.41 lakh net members in March 2024, the ministry stated. The data indicates that around 7.47 lakh new members have been enrolled during March 2024. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 56.83 pe

Explained: EPF auto-settlement rules for medical, education, housing claims

To ease the life of Employees' Provident Fund (EPF) members, the EPFO has eased the rules of auto-settlement for medical claims, education, marriage and housing