Page 25 - Epfo

Here are all the schemes announced in the Cabinet briefing today

Govt will invest Rs 12,750 crore in recapitalising the three state-owned insurance companies- Oriental Insurance, National Insurance and United India Insurance

Covid-19: Cabinet okays extension of PF contributions by govt till August

Finance Minister Nirmala Sitharaman had announced the extension of the benefit in May this year under the Pradhan Mantri Garib Kalyan Yojana

YES Bank files prospectus with RoC to raise up to Rs 15,000 cr via FPO

Restates accounts for last three years, but no impact on bottom line

EPFO may slash interest rate over falling returns, slow cash flow: Reports

The 8.5 per cent interest rate, which was declared in March this year is yet to be approved by the Finance Ministry

EPFO records 133,000 new enrolments in April amid Covid-19 lockdown

The government had imposed lockdown from March 25 to fight Covid-19 in the country.

EPFO allows regional offices to settle PF claims from other centres

Since April 1, EPFO has been settling claims for withdrawal of special Covid-19-related advances within three days. It has settled over 80,000 claims amounting to Rs 270 cr on daily basis since April

EPFO launches multi-location claims settlement facility to expedite process

The facility will bring a paradigm shift by allowing EPFO offices to settle online claims from any of its regional office across the country, the labour ministry said in a statement.

EPFO settles 3.6 mn claims of Rs 11,540 cr in April-May; 1.5 mn under PMGKY

The Covid-19 advance has been a great help to EPFO members during these difficult times, especially for the members with monthly wages of less than Rs 15,000

More regular-income labour denied social security before Covid-19 hit India

Though more firms were switching to formal sector and paying workers regular wages, that didn't necessarily mean they were passing on social security benefits to them

ESIC social security scheme sees around 821,000 enrolments in March

The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, retirement fund body EPFO and pension fund regulator PFRDA.

Net enrolments with EPFO dip to 5.72 lakh in March from 10.21 lakh in Feb

The data also showed that during September 2017-March 2020 period, the number of net new subscribers was around 1.55 crore

Claiming advance EPF is easy, but withdraw it only if you are in dire need

There is no income-tax on the advance, but withdraw only in dire need

Govt may soon allow firms to delay EPF contributions or pay in installments

EPFO CEO tells companies they are legally obliged to make provident fund contribution on basic pay of up to Rs 15,000

Covid-19 impact: Companies facing cash crunch can delay EPF contribution

The EPFO said that companies are facing liquidity or cash crunch in paying their mandatory provident fund dues "even though they are retaining the employees on their rolls"

Rs 65,000 cr package needed for poor, target is doable: Raghuram Rajan

Former RBI Governor responds to Rahul Gandhi's question, says GDP is Rs 200 trillion, and out of that 65,000 crore is not a huge amount

It's a better option to take advance EPF than a loan during tough times

The usual advice is that one should not withdraw from their EPF account because it hurts the retirement corpus

Covid-19 impact: NLC, TCS employees top EPF advance withdrawal list

The top firms which saw the highest amount of applications for EPF advance withdrawal were TCS (9,373 employees), HCL Technologies (6,938) and NLC (3,255)

EPFO defers March dues payment till May 15; provides break to 600,000 firms

The contributions towards social security schemes - run by Employees' Provident Fund Organisation (EPFO) - for March was due till April 15, which has been extended till May 15

Covid-19: Cabinet may approve proposal on EPFO contribution, withdrawals

The proposal to allow subscribers to withdraw 75% of their EPF contribution or three months wages

EPFO puts in place mechanism to credit govt's share to EPF, EPS under PMGKY

The PMGKY package is aimed at preventing disruption in the employment of low wage-earning EPF members and extending support to the eligible EPF covered establishments.