Minister of State for Labour and Employment (Independent Charge), Santosh Gangwar attended felicitation program for regional officials of CLC, EPFO and ESIC in Delhi.
The Employees' Provident Fund Organisation (EPFO) is expected to credit the first instalment of the 8.5% interest to its subscribers by Diwali, a report by Live Hindustan said.
A part of 8.5 percent interest on employees provident fund (EPF) for 2019-20 into the account of its around 6 crore subscribers, retirement fund body EPFO said today.
Data shared by the Employees' Provident Fund Organisation (EPFO) has shown employees working with major IT companies have availed the maximum EPF advances. Following the coronavirus pandemic, EPFO offered members the opportunity to avail advance not exceeding three months’ basic wages and dearness allowances or up to 75% of the amount standing to the credit of their respective accounts.
The Employee Provident Fund Organisation (EPFO) has made significant progress in Updating KYC of its Subscribers During July 2020 despite the coronavirus pandemic. In a big success that is likely to make things easier for people availing employee provident fund services, the EPFO has updated 2.39 Lakh Aadhaar Nos, 4.28 Lakh Mobile numbers & 5.26 Lakh Bank Accounts in the UAN of its subscribers.
Net new enrolments with retirement fund body EPFO rose to 6.55 lakh in June from 1.72 lakh during May 2020, according to its latest payroll data, providing a perspective on employment in the formal sector amid the COVID-19 crisis.
Provisional payroll data released by the EPFO last month had shown that net new enrolments stood at 3.18 lakh in May this year. The figure has now been revised to 1,72,174.
Retirement fund body EPFO updated KYC details of 73.58 lakh subscribers in April-June, which enabled them to access a host of its online services, the Labour Ministry said on Monday.
The Employees' Provident Fund Organisation (EPFO), the retirement fund body, has registered 3.18 lakh net new enrolments in May, a significant improvement from April figures which saw a little over 1 lakh new enrolments.
Net new enrolments with retirement fund body EPFO rose to 3.18 lakh in May from 1 lakh during April 2020, according to its latest payroll data, providing a perspective on employment in the formal sector amid the COVID-19 crisis.
Retirement fund body added 1.39 crore new subscribers in last two financial years, the Ministry of Labour & Employment said on Monday. "Recently published provisional payroll data by the EPFO highlights the ever growing trend of increasing subscriber base for EPFO, since the collation of payroll data from September 2017," the ministry said in a statement.
Retirement fund body EPFO has updated KYC details of its 52.62 lakh subscribers during the April-May period, according to a labour ministry statement.
The Ministry of Labour & Employment has implemented new rules that allow for reduced employees' provident fund (EPF) contributions for three months till July. Here are key points to know about new EPF rules:
Finance Minister Nirmala Sitharaman on Sunday said around 12 lakh members of the Employees' Provident Fund Organisation (EPFO) withdrew Rs 3,360 crore retirement savings during the coronavirus-induced lockdown.
Finance Minister Nirmala Sitharaman on Sunday said around 12 lakh members of the Employees' Provident Fund Organisation (EPFO) withdrew Rs 3,360 crore retirement savings during the coronavirus-induced lockdown.
Private steel player Jindal Steel and Power Ltd (JSPL) has said its consolidated crude steel production remained flat at 6. 5 lakh tonne (LT) during April 2020.
Retirement fund body EPFO on Thursday allowed employers to file monthly PF returns without making simultaneous payment of dues, giving a relief to about 6 lakh firms amid lockdown to combat the COVID-19 crisis.
Retirement fund body EPFO settled 3.31 lakh PF withdrawal claims worth around Rs 950 crore in last 15 days to give relief to the members during the lockdown.
Retirement fund body EPFO will accept online its subscribers' Aadhaar card as a valid proof to rectify their date of birth to ensure that the account is KYC compliant, the labour ministry said on Sunday.
EPFO has made a change in its EPF rule to allow subscribers non-refundable withdrawal of PF money. EPFO subscribers will be allowed to withdraw 75 per cent of PF balance or three months' wages, whichever is lower. EPF account holders can claim for 'advance' withdrawal via EPFO's unified portal -- unifiedportal-mem.epfindia.gov.in. Here's a step-by-step guide to withdraw EPF money citing COVID-19 outbreak.
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