Page 9 - Epfo

Ensure employees' UAN is active to avail ELI scheme benefits: Govt to EPFO

The Ministry of Labour & Employment has directed the EPFO to ensure the Universal Account Number (UAN) of employees is active to avail the benefits of Employment Linked Incentive (ELI) Scheme. EPFO will involve their zonal and regional offices for effective outreach, the ministry said in a statement. "To ensure that maximum number of employers and employees benefit from the ELI Scheme, it has directed EPFO to work in a campaign mode with employers and ensure activation of UAN of employees," the Ministry said. UAN activation provides employees with seamless access to EPFO's comprehensive online services, enabling them to efficiently manage their Provident Fund (PF) accounts, view and download PF passbooks, submit online claims for withdrawals, advances, or transfers, update personal details, and track claims in real time. This allows employees 24/7 access to EPFO services from the comfort of their homes, eliminating the need for physical visits to EPFO offices. In the first stage,

EPFO net member addition rises 9.33% to 1.88 million in September

Retirement fund body EPFO logged 9.33 per cent growth in net member additions in September at 18.81 lakh compared to the year-ago month, showed payroll data released on Wednesday. Employees' Provident Fund Organisation (EPFO) enrolled around 9.47 lakh new members in September 2024, representing an increase of 6.22 per cent over September 2023, the labour ministry said. This surge in new memberships can be attributed to growing employment opportunities, increased awareness of employee benefits and EPFO's outreach programmes, it noted. According to the statement, EPFO has released provisional payroll data for September 2024, revealing a net addition of 18.81 lakh members. This represents a 9.33 per cent year-on-year (YoY) growth compared to September 2023, signifying increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO's effective outreach initiatives. A noticeable aspect of the data is the dominance of the 18-25 age group, which ...

EPFO board to meet on November 23 to approve central pension payment system

The board, which is chaired by the labour minister, is also expected to approve the EPFO's account statement and Annual Report 2023-24 during the meeting

Insurance benefits for EPFO members extended up to Rs 7 lakh

Till April 2021, maximum benefits to legal heirs of a deceased employee was capped at Rs 6 lakh

Insurance benefits for EPFO members extended retrospectively from April 28

Union Labour Minister Mansukh Mandaviya on Thursday announced extension of the enhanced insurance benefits for all members of retirement fund body EPFO under Employees' Deposit Linked Insurance (EDLI) scheme. The move will ensure up to Rs 7 lakh of life cover to more than 6 crore EPFO members. The scheme has been extended with retrospective effect from April 28, 2024 onwards, Mandaviya told reporters here. EDLI Scheme, launched in 1976, seeks to provide insurance benefits to members of the Employees' Provident Fund Organisation (EPFO) in order to ensure some financial assistance to each member's family in case of the member's death. In 2018, the minimum insurance cover of Rs 1.5 lakh was introduced under the scheme. Till April 2021, the maximum benefits to the legal heir of the deceased employee was capped at Rs 6 lakh as per the criteria defined in the EDLI Scheme. Later, the government, through a notification issued on April 28, 2021, enhanced both minimum and maximum benefits

Centre to create a database of citizens moving abroad for work, education

During a high-level meeting chaired by Union Labour Minister Mansukh Mandaviya, discussions focused on improving coordination between the Ministry of External Affairs and NITI Aayog

Unblocking inactive EPF account: What employees must do

An EPF account is deemed inoperative if there have been no contributions for 36 consecutive months

Fresh formal hirings increase in July by 2.5% to 1.05 million: EPFO data

The EPFO data is considered crucial as only the formal workforce enjoys social security benefits and is protected by labour laws

Centre to integrate EPFO, e-Shram database to track workforce formalisation

Move aims at tracking workforce formalisation in India

Now, withdraw up to Rs 1 lakh from your PF, even within 6 months of joining

If you are an EPFO contributor and there's a family emergency, you can now withdraw a higher amount

Labour ministry to launch revamped Shram Suvidha portal by year-end

The portal will leverage AI and machine learning to facilitate ease of doing business

EPFO officials meet EPS-95 NAC members to discuss pension, other demands

A delegation of pensioners' body EPS-95 National Agitation Committee on Tuesday met with senior officials of the Employees' Provident Fund Organisation to press for their long-standing demand for a minimum monthly pension of Rs 7,500. The members also demanded full medical coverage for EPS members and their spouses, EPS-95 National Agitation Committee (NAC) said in a statement. "An invitation came to us from Employees' Provident Fund Organisation (EPFO) for a meeting. The objective of the meeting was to resolve the pending demands of the pensioners," EPS-95 NAC President Ashok Raut said. The EPS-95 NAC members have been protesting to press for their demand of Rs 7,500 as monthly pension instead of an average monthly pension of only Rs 1,450 at present, he said. Raut said the pensioners have been demanding an increase in the minimum pension for the past eight years, but the government has not addressed their demands. Earlier this month, Union Minister for Labour and Employment Mans

EPFO will migrate to new IT platform in 3 months: Labour minister

Over the next few months, the implementation of the EPFO 2.01 Project will ease the processes and turnaround time for various member and employer transactions

June sees rise in female workforce participation amid 1.92 mn new EPFO jobs

Around 59.14% of new members in June 2024 were aged 18-25, reflecting an ongoing trend where the majority of individuals entering the organised workforce are young, mostly first-time job seekers

EPFO issues new rules for inoperative, inactive accounts to combat fraud

An EPF account becomes inoperative after 58 years, or 36 months, after a subscriber's retirement age of 55 years

Mega meeting on Friday to plan central database for jobs, workforce

According to the labour ministry, policy reforms across sectors and government programmes have generated employment

FM announces EPFO-Linked schemes: Boost jobs & reward first-timers employee

These schemes will be based on enrolment in the EPFO, focusing on recognizing first-time employees

Youth hirings in formal sector witness upswing in April-May: EPFO data

EPFO data says women subscribers also rose after falling last year

Formal job creation hits 10-month high with 985K new subscribers: EPFO data

Surge in young and female subscribers signals recovery in labour market

EPFO officers raise concern over inadequate IT infra, seeks intervention

Employees' Provident Fund Officers' Association has sought the Union Labour Minister's intervention to improve the information technology infrastructure of the retirement fund body. In a letter to the minister earlier this week, the EPF Officers' Association (EPFOA) said it has been regularly submitting requests for urgent interventions to upgrade the EPF IT systems software, hardware, IT manpower - which are causing acute strain on EPF manpower and adversely affecting EPFO services. The situation has now turned serious with officers and offices reporting significant system deficiencies on a daily basis, the association said. Severely inadequate EPFO IT systems and resultant service bottlenecks are adversely affecting EPF services, it added. The EPFO application software serves as the foundational component of its service delivery infrastructure. The body said it is the primary platform through which our regional offices process and adjudicate member claims. In recent times, the