EPFO is set to revolutionise the PF withdrawal process with e-wallet access and ATM withdrawals. Know about this employee-friendly initiative's latest updates, benefits, and expected rollout.
Starting in 2025, EPFO subscribers can withdraw their provident fund (PF) directly from ATMs. Know how this seamless feature works, its benefits, and the Ministry of Labour’s plans to modernise social security in India.
Provident fund big update: The Labour Ministry said it is upgrading its IT systems to enhance services to the country's massive workforce.
Amazon India, on its website, said its efforts in digitising MSMEs and boosting e-commerce exports from India are helping support hundreds of thousands of livelihood opportunities.
In a statement calling for the probe, the Ministry of Labour and Employment cited the Equal Remuneration Act of 1976, saying the law "clearly stipulates that no discrimination (is) to be made while recruiting men and women workers."
Employees Provident Fund Organisation news: Around 2,861 new establishments have started complying under the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 ensuring social security cover to their employees.
National Labour Conference 2022: This conference is being organised to seek the feedback of state counterparts after 2014, the official added. Earlier such conferences were held in a different format before 2014.
All workers in the unorganised sector, including migrant ones, can now take the benefits of various social security and employment-based schemes through registration on the e-Shram portal.
E-Shram portal: Workers will be provided with an e-SHRAM card which will have a 12 digit unique number. A national toll free number 14434 will also be launched to help and address queries of the workers who are seeking to get themselves registered.
The hike, which will be effective from April 1, 2021, will also result in an increase in rate of minimum wages for central sphere employees and workers.
As many as 29 central labour laws governing occupational safety, minimum wages, and social security have been consolidated into four labour codes.
The Ministry of Labour and Employment is likely to give a shape to the National Employment Policy by December this year following the implementation of four labour codes and completion of four major surveys, including one migrant workers.
Retired employees of Air India have said that the absence of pensions is causing them hardship.
As many as 25 officials of the Ministry of Labour and Employment tested positive for COVID-19 this week, taking the number of infected employees in the ministry to 36, according to a source.
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 labour ministry on Tuesday said employees can contribute more than the newly set limit of 10 per cent of basic wages to their provident fund (PF) for the next three months, but employers don't need to match the higher contribution.
The labour ministry will soon notify 8.65 per cent rate of interest on Employees' Provident Fund (EPF) for 2018-19, said Labour Minister Santosh Gangwar on Friday. He also added that the finance ministry does not disagree on this rate.
The EPFO has over four crore subscribers and receives 1 crore claims every year including that of EPF withdrawal, pension fixation and insurance claims.
New Delhi: The Labour Ministry has directed retirement fund body EPFO and health insurance provider ESIC to exempt startups from inspection and filing returns for 3 years.In line with Prime Minister Narendra Modi's vision to
New Delhi: The Labour Ministry is working on a new policy framework to provide social security coverage to domestic help and a proposal in this regard would be moved to Cabinet soon, an official said.A
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