Page 14 - Epfo

Under new labour laws, unused leaves beyond 30 will be paid for by employer

The new regulation will do away with the system where unused leaves used to lapse beyond a certain time limit

EPFO issues fresh guidelines for granting exemption to establishments

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

7.58 million benefit from ARBY employment scheme, exceeding initial goal

The Aatmanirbhar Bharat Rozgar Yojana (ABRY) was launched in October 2020 to incentivise employers to create more jobs

EPFO holds talks with Ministry of Finance on reinvesting ETF money

EPFO will move the final proposal for the finance ministry's assent once the finance and labour ministries decide on the matter

Short-term govt bond rates harden after incremental CRR guidelines

The yield on the one-year and two-year government bonds has edged up 8 basis points and 4 basis points respectively since August 10

Nippon India, IPru MF's EPFO play gets going; move to help shore up AUM

Join public sector-linked peers SBI and UTI MF

Fresh formal job creation touches 9 month high in June, shows EPFO data

The monthly data released by the EPFO is part of the government's ongoing effort to monitor formal-sector employment using payrolls as a metric

Top headlines: Jio Financial shares to debut, big techs seek relaxation

Business Standard brings you the top headlines at this hour

EPFO to appoint actuary to get consultancy for insurance, pension scheme

The proposal to elicit response from the interested actuarial firms was issued on Friday and the process is slated to commence by August 17

Govt ratifies 8.15% interest rate on Employees Provident Fund for 2022-23

The government has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23. Retirement fund body EPFO on March 28, 2023, had marginally raised the interest rate on employees' provident fund (EPF) deposits to 8.15 per cent for 2022-23 for its over six crore subscribers. As per an official order issued on Monday, the EPFO has asked the filed offices for crediting the interest at 8.15 per cent on EPF for 2022-23 into the accounts of members. The order came after the finance ministry's concurrence to the EPF rate of interest approved by EPFO trustees earlier in March this year. Now the EPFO field offices will start the process of crediting the internet into subscribers' accounts. In March 2022, Employees' Provident Fund Organisation (EPFO) had reduced the interest rate on EPF deposits for 2021-22 to a four-decade low of 8.10 per cent from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when t

Process of applying for higher pension on unified portal simple: Ministry

The process of applying for higher pension on the unified portal of EPFO is "simple and easy to understand" and as per the Supreme Court's order last year, Parliament was informed on Monday amid the criticism of unfeasible requirements on the portal. Following the Supreme Court order in November 2022, the Employees' Provident Fund Organisation (EPFO) had given option to subscribers and their employers to jointly opt for higher contributions as per the actual basic wages (higher than threshold of Rs 15,000 per month) on the unified portal. "The process in unified portal for submission of joint options for higher pension is simple and easy to understand and contains simple requirements as per provisions of Employees' Provident Fund (EPF) Scheme, 1952, Employees' Pension Scheme (EPS), 1995 and the judgment of the Supreme Court on November 4, 2022," said Minister of State for Labour and Employment Rameswar Teli in a written reply to the Lok Sabha. The minister said that for convenience

Centre approves 8.15% interest for 60 million EPFO subscribers in FY23

FY23 interest rate is marginally higher than 8.1% for FY22. After the 8.15% payout, EPFO will be left with a surplus of Rs 663.91 cr

You have time till 11 July to opt for higher pension: All you need to know

Subscribers should use the additional time to take a well-considered decision regarding whether to go for this option or stay with the current one that offers a higher lump sum

EPFO extends deadline to apply for higher pension for members till July 11

Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11. This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, 2023. The last opportunity of 15 days is being given to remove any difficulty faced by the eligible pensioners/ members, the Employees' Provident Fund Organisation said in a statement. "Accordingly, the last date for submission of Applications for Validation of Option/ Joint Options by employees is extended to July 11, 2023," it added. "Online facility has been made available by EPFO for submitting Applications for Validation of Options/Joint Options for pension on higher wages. The facility is for eligible pensioners/members in compliance with the Hon'ble Supreme Court order dated November 04, 2022," the statement said. "Timeline for applying for higher pension has been extended by 3 months for the employer and 15 days for the ...

Byju's yet to pay provident fund for several months to many ex-employees

Byju's made contributions for December 2022, January, February and March on June 19 and then too all employees did not receive the payment

EPF: When can you withdraw, how is the money taxed, and how to avoid it

Withdrawals before five years are tax-free in cases of serious illness, employer discontinuation of operations, withdrawals not authorized by the employer, and advances under the EPF Scheme

Anti-Corruption Bureau arrests EPFO officer for taking Rs 7 lakh bribe

ACB in Gurugram arrested an enforcement officer of the Employees' Provident Fund Organisation (EPFO), and a private person red-handed for taking Rs 7 lakh as a bribe

In debate over NPS and EPFO returns, one retirement fund edges ahead

India's lagging pension savings may need a leg-up as the economy grows

How To Withdraw PF Advance Online? Here's A Step-By-Step Guide

Employees Provident Fund or EPF is a mandatory savings and retirement scheme for employees of an eligible organisation, which can be used as a corpus post-retirement.

Pan-Aadhar link to bank locker agreement: 6 deadlines to remember in June

There are several financial deadlines that taxpayers and bank customers must keep in mind or they lead to fines and penalties