EPFO JOINT DECLARATION OPTION
Up to Rs 10 lakh relief in train accident: How a 45 paisa IRCTC travel insurance can be a huge help for your family in case of death or disability
IRCTC travel insurance: Do you know that IRCTC offers an optional travel insurance policy at just 45 paisa premium per passenger. This policy offers coverage up to Rs 10 lakh in cases of death and permanent disability. God forbid if you perish in a train accident, atleast your family will get the required financial assistance.
Nomination now optional for joint mutual fund portfolios; what MF investors must know
The deadline for all current individual unit holders who own mutual fund units, either alone or jointly, nominate or opt out of nomination is June 30, 2024; otherwise, the folios will be blocked for debits.
Philippines to hold joint naval drills with US, Japan, Australia
The Philippines is set to conduct joint naval drills with the United States, Japan, and Australia in the disputed South China Sea. The exercises, aimed at countering China's influence in the region, will take place days before a trilateral summit involving the leaders of the Philippines, Japan, and the US. The move comes as tensions rise in the region, with China asserting its claims over the South China Sea. The US has been strengthening its alliances in the region, including with treaty allies Japan and the Philippines, to counter China's actions.
EPF joint declaration: List of acceptable documents required to make corrections, updations in UAN profile
Correction, updations to EPF account: The Employees' Provident Fund Organisation (EPFO) has made changes to the standard operating procedure (SOP) for collecting joint declarations to address inaccuracies in members' and employers' Universal Account Number (UAN) profiles. Here is a look at more details regarding making changes to one’s EPF account’s UAN profile.
EPF members can do KYC, correction in provident fund account online: Here is a step-by-step guide to do it
Correction in EPF details online: It may happen that an employee details such as name, gender, date of birth, father/mother's name etc. in the EPFO records are wrong. This may be due to spelling errors or wrong details mentioned in the EPF records. The EPFO has launched an online facility to correct KYC details online. Here is a step by step guide on how to use online KYC facility to correct details.
EPF joint declaration: How many times can you make changes to member name, date of birth, marital status in EPF account
Making changes to EPF account: 11 parameters can be changed by an employee during his or her employment to their EPF account. Here is a look at how many times one can make changes to each of these parameters.
EPFO gives relief to these EPF members from submitting joint declaration form
EPFO Joint declaration form submission: EPF scheme rules require mandatory submission of this form if an EPF member wants to contribute on basic pay exceeding statutory limit of Rs 15,000 per month. The EPFO has also started sending SMSes to the EPF members to submit the joint declaration form as soon as possible.
EPFO issues SOPs for handling joint declaration application for higher pension under its Employees’ Pension Scheme
The retirement fund body EPFO, on Monday, issued the standard operating procedures (SOPs), listing out the valid documents for correction in employees’ profile while fixing timelines for processing the correction-related applications and allowing subscribers to online monitor their application.
EPFO latest rules on submission of digital joint requests to increase EPF contribution
The Employees’ Provident Fund Organisation (EPFO) subscribers who wish to contribute more than the statutory limit must submit a joint request and permission under EPF Scheme, 1952, Paragraph 26(6).
EPFO Interest Rate Hike: EPFO declares 8.25% as EPF interest rate for FY 2023-24
EPFO Interest Rate Hike: The Employees Provident Fund is a mandated contribution for salaried employees. An employer is also obligated to make a matching contribution to the EPF account. On a monthly basis, an employee contributes 12% of his earnings to his EPF account. The employee's whole contribution is placed into the EPF account. In the case of the employer, just 3.67 percent is deposited into the EPF account. The remaining 8.33% goes to the Employees Pension Scheme (EPS).
EPFO plans to set up actuary, hire more staff
EPFO plans to overhaul its pension division by setting up an in-house actuary and hiring more staff due to the increased workload from the Supreme Court's order on higher pensions. The retirement fund body may ask exempted establishments to pay for administrative charges. The EPFO has received 1.74 million applications for higher pension validation, with 1.17 million pending.
Employers get 5 months of extra time to upload wage details for higher pension
The Centre has extended a five-month extension for employers to upload wage details for employees seeking higher pensions. The facility, enabled by the Employees' Provident Fund Organisation, was granted after a Supreme Court order in November 2022. Over 3.6 lakh applications remain pending.
EPFO outreach to central board of trustees to build consensus on contentious issues
The first round of meetings, held twice with the central provident fund commissioner on November 9 and 14 and with labour minister Bhupender Yadav on Tuesday, saw the tripartite body discussing more than a dozen EPFO staff-related issues as the retirement fund body struggles to resolve administrative, human resources as well as infrastructure challenges, a CBT member of the trade union told ET.
EPFO extends deadline to upload details by employers for higher pension option by 3-month till December 31
The deadline for uploading wage details which was ending on September 30 has been extended following representations from Employers & Employers' Associations, according to a labour ministry's release.
EPFO declares 8.15% as EPF interest rate for FY 2022-23
The EPFO has announced the interest rate for EPF accounts for the financial year ended on March 31, 2023. The interest rate for FY 2022-23 has been hiked by 0.05%
Higher EPS pension: EPFO sets 20 days deadline for field offices for validation of joint application
The EPFO claimed in its circular that this action was taken in response to observations made during regular revives that Demand Letters or Communications to Employers has not been issued promptly for cases said to have been scrutinized.
Does eligible employee have an exit option to get out of higher EPS pension application?
The circular issued by the Employees' Provident Fund Organisation (EPFO) on May 11, 2023, clarifies that how dues will be calculated to be paid for higher EPS pension. Further, a written consent is mandatory for diversion or depositing funds for higher pension from EPS. However, what will happen if written consent is not provided by the EPFO?
EPFO gives option to withdraw/modify higher EPS pension application online till this time
The EPFO has received several requests from pensioners and members asking for an online capability to upload materials and amend problems in their applications for joint options and option validation.
How employees can submit joint application for higher EPS pension sans documents post Kerala High court order
Employees who are eligible to apply for higher pension under the Employees' Pension Scheme (EPS) are confused about how they can submit joint application form on the Member Sewa portal if they do not have necessary documents. The Kerala High Court judgement dated April 12, 2023 has asked EPFO not to insist on the proofs. Here's how an employee can submit the form to apply for higher pension.
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