Page 21 - Epfo

EPFO pension scheme holders' data exposed online, says security researcher

A Ukraine-based researcher has claimed that about 288 million personal records of the EPS holders in the EPFO, were exposed online before being taken off the Internet.

EPFO launches face authentication for pensioners to submit certificates

Retirement fund body EPFO on Saturday introduced a facility to allow its over 73 lakh pensioners to submit digital life certificate using face authentication technology from anywhere. This face recognition authentication will aid aged pensioners who face difficulties in getting their bio-metrics (Finger print & Iris) captured due to old age for filing the life certificate. Union Minister of Labour and Employment Bhupender Yadav who also chairs EPFO's apex decision making body the Central Board of Trustees, launched the face authentication technology for pensioners, stated a labour ministry statement. Earlier in the day, the CBT in its 231st meeting gave in-principal approval for centralized disbursal of pension for further improving the EPFO services for pensioners. The roll out stages and modalities will be further evolved, it stated. Yadav also launched a pension and employees deposit linked insurance scheme calculator providing online facility to pensioner and family members to

EPFO in a jam: Why meaningful pension reforms are not moving ahead

Instead of reforms, in many ways, 2022 is showing signs of walk back on pension reforms

EPFO adds 1.68 mn net subscribers in May, an 83% rise YoY: Govt data

Retirement fund body EPFO added 16.82 lakh new subscribers in May 2022, nearly 83 per cent more than 9.2 lakh enrolled in the year-ago month, according to official data. The provisional payroll data of EPFO released on Wednesday showed an increase of 7.62 lakh net subscribers in May 2022 as compared to the net subscription in the month of May 2021 last year, the labour ministry said in a statement. The EPFO had added 9.2 lakh net new subscribers in May 2021, it said. Out of the total 16.82 lakh subscribers added during May 2022, around 9.60 lakh new members have been covered under the ambit of EPF & MP Act, 1952 for the first time. Approximately 7.21 lakh net subscribers exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to continue their membership under the EPF Scheme, by transferring their funds instead of applying for final PF withdrawal, it stated. The new enrolment during the month is higher than the monthly average recorded .

EPFO likely to enhance investment limit in equities to 20%: Report

The proposal is expected to be considered and approved during the EPFO trustees' meeting scheduled to be held on July 29 and 30, according to a source

Employees may have to wait longer for new wage code rules to kick in

The changes under the new wage code can only be implemented across the country once the centre receives draft guidelines from all the states and UTs

EPFO to soon disburse pension to over 7.3 mn pensioners in one go

EPFO will approve a proposal for setting up a central pension disbursal system on July 29 and 30, paving the way for crediting the benefit into over 7.3 million pensioners' bank accounts in one go

EPFO adds 1.7 mn net subscribers in April, an increase of 35% YoY

Out of the total 17.08 lakh subscribers added during the month of April, around 9.23 lakh new members have come under the social security cover of EPF and MP Act, 1952, for the first time.

How to file EPFO e-nomination online via UAN; check steps and features

There is no deadline for filing e-nomination and it isn't mandatory for filing advance claims; but it speeds up online claim settlement by nominees

Increasing equity exposure

EPFO should first fix the basics

EPFO equity push: Stock returns more than 2x those of bonds, shows data

Retirement fund also invests in CPSE index, which has been a laggard among ETFs

EPFO mulls increasing equity investment limit to 25% to bridge shortfall

Earlier on Saturday, the government approved 8.1% rate of interest on EPF deposits for 2021-22, which is an over four-decade low, for about 50 million subscribers of EPFO

Govt ratifies 8.1% EPF interest rate for 2021-22, lowest in 4 decades

The 8.1 per cent EPF rate of interest is the lowest since 1977-78, when it stood at 8 per cent.

EPFO e-Passbook: How to download, check balance and other details

The current EPF interest rate is 8.1%

IBC regime: NCLAT directs MCA, IBBI to amend statutory claims rule

The directive comes after observing gaps in the current IBC regime that deals with statutory claims

EPFO adds 1.41 million subscribers in February, 14% increase from last year

According to the statement, the month-on-month comparison of payroll data reflects a slight increase of 31,826 net subscriber addition in February, 2022 compared to January, 2022

Ad-hoc panel backs raising the wage ceiling under EPFO to Rs 21,000: Report

The increase in the limit to Rs 21,000 under EPFO will bring more workers under the retirement scheme

CBI searches EPFO offices in Nagpur over irregularities, seizes documents

The Central Bureau of Investigation's (CBI) anti-corruption branch in Nagpur and the EPFO's vigilance team from Mumbai started the searches on Tuesday morning in the EPFO offices

TDS will not apply to EPF balance till FY21: Here's what experts suggest

If EPF account is linked to PAN, 10% TDS rate will apply, else 20%

EPF continues to beat inflation even with interest rate at four-decade low

The scheme also offers better returns than other most other investment avenues