EPFO

Inclusion of foreign workers in PF unconstitutional, says High Court

The move, which is likely to be challenged by govt and the Employees Provident Fund Organisation (EPFO), will impact thousands of expatriates who have contributed to the social security scheme or are currently part of it.

Life certificate: 6.6 lakh pensioners submitted Jeevan Pramaan through face authentication; how you can submit it

Employee Pension Scheme (EPS): 6.6 lakh EPS users submitted their Jeevan Praman through the face authentication method which reflects a 200% year on year growth when compared to FY 2022-23. In FY 2022-23 2.1 lakh pensioners used the face authentication method. Do note that you need a Aadhaar enabled mobile number to use this method.

Labour Secretary Sumita Dawra chairs review meeting on EPFO reforms

Labour & Employment Secretary Sumita Dawra praised the EPFO's automation of claim settlements to reduce rejections, as per an official statement. In a review meeting, she emphasized the need for close coordination among officials to enhance social security. The EPFO's reforms aim for faster claim settlements and streamlined processes, significantly improving efficiency.

Non-refundable Covid advance no longer available under EPFO

According to an EPFO circular dated June 12, since Covid is no longer a pandemic, the competent authority has decided to discontinue the said advance with immediate effect and this would be applicable to even exempted establishments.

New EPF account rules in May: EPFO made these four major changes to the EPF account, claims process in May 2024

New EPF rules: The changes include an extended facility of auto-settlement, multi-location claim settlement, faster New rule for EPF death claim. Let us take a closer at each of these four changes.

EPFO made these four major changes to the EPF account, claims process

Recently, the Employees' Provident Fund Organisation (EPFO) has relaxed several regulations to make life easier for Employees' Provident Fund (EPF) members. While, it has also withdrawn one of the benefits offered before.

Capacity boost for EPFO, ESIC to pave way for labour reforms

The Social Security Code, 2020, passed by Parliament in 2020, entails extending social security to gig and platform workers. Some of the changes envisioned for retirement fund body EPFO in the short, medium, and long term include restructuring of its offices, business process re-engineering, and leveraging IT for automatic settlement of claims and cadre restructuring.

Formal job creation under EPFO at 72-month high in April at 1.89 million

Provisional payroll data, released by the ministry of labour and employment on Thursday, shows new formal job created under EPFO was 31.3% higher than 1.44 million net members added to EPFO in March 2024, attributing the surge in membership to various factors, including increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO's outreach programs.

New EPF rules: EPFO relaxes mandatory uploading of cheque leaf image, attested bank passbook for these cases

EPFO eases the requirement to upload image of a cheque leaf and an attested bank passbook. This move will help to expedite the settlement of claims filed online and reduce the number of claims that are rejected

EPFO lowers penal charges on employers defaulting on PF, pension and insurance deposits

The notification issued by the ministry of labour and employment said the penal charges across three schemes of EPFO will be uniform and at the rate of 1% per month or 12% per annum from the date of notification as against 25% per annum until now for default period of six months and above. This will reduce the penal burden on employers.

EPFO undertakes multiple systemic reforms to enhance ease of doing business; improve ease of living

EPFO rules: At a review meeting, chaired by labour secretary Sumita Dawra, EPFO said the number of auto transfers generated by the retirement fund body has increased threefold from two lakh in April 2024 to six lakh in May 2024 while more than 25 lakh advance claims have been settled on auto mode.

EPF account withdrawal rule changed: EPFO discontinues Covid-19 advance facility

During the Covid-19 pandemic, a non-refundable advance was provided to the EPF members during the outbreak of first wave of Covid-19 and another advance was also allowed in view of second wave

Can you transfer EPF account from unexempted trust to EPFO, exempted trust?

EPF account transfer from unexempted trust: Many salaried individual have Employees' Provident Fund account either with EPFO or exempted trusts. However, what if you have an EPF account with unexempted trusts? Does EPF scheme rules allow an EPF member to transfer the unexempted trusts to EPFO or exempted trusts? Read on to know about it.

How to raise EPF-related complaints or grievances on EPFO portal: A step-by-step guide

EPFiGMS is a tailored EPFO platform designed to resolve complaints about EPFO services. Grievances can be submitted anywhere and will be sent to the appropriate office. A grievance can be lodged by a PF member, EPS pensioner, employer, and others. The EPFiGMS portal also lets EPF subscribers check the status of open complaints and requests.

Latest on DA hike: 25% increase in gratuity due to dearness allowance hike kept on hold; here’s why

Dearness allowance hike: The EPFO has opted to keep in "abeyance" the retirement and death gratuity increase for workers, which is a blow to those employed by the government and organised sector. In March 2024, the Central government raised the Dearness Relief (DR) and Dearness Allowance (DA) by 4%.

Faster EPF claim settlement: EPFO multi-location claim settlement to speed up member claims

Faster EPF claim settlement: By allowing for multi-location claim settlement, this feature will speed up member claims processing and replace the current geographical jurisdiction structure along with productivity in offices nationwide.

When should EPS pensioner submit annual digital life certificate; how to submit using face authentication

Submission of life certificate: The person must be an Employees’ Provident Fund Organisation (EPFO) member. EPS members can submit a life certificate at Pension Disbursing Bank, online, Common Service Centre, IPPB, Indian Post Office, Postman, Umang app, Nearest EPFO office.

EPFO created 11.4% more formal jobs in 2023-24 at 15.4 million, shows payroll data

The provisional payroll data, released by the ministry of labour and employment on Monday, shows 1.44 million net members were added to EPFO in March, 2024 vis-a-vis 1.54 million added in February out of which 0.74 million were new members.

Do international employees still have to make EPF contributions after Karnataka High Court ruling?

Karnataka High Court's April 25, 2024 ruling deemed special provisions for International Workers under EPF Scheme unconstitutional, affecting EPF contributions, retirement age eligibility, and equality before law for these workers.

New rule for EPF death claim: Now physical claims can be processed without seeding Aadhaar

EPF death claim: The EPFO stated that it has received specific references from field offices indicating that they are unable to seed and authenticate Aadhaar in cases of death of EPF members. Note that Aadhaar details cannot be updated or corrected after a member passes away, which presents challenges for the field offices.

You could lose section 80C tax benefit on EPF contribution; here's why

Section 80C tax benefit on EPF: Many salaried individuals claim Section 80C tax benefit on their own Employees Provident Fund (EPF) contribution. However, not many are aware that if the EPF trust does not meet certain specified conditions, then both the employer and employee contribution will be taxable in the hands of an individual.

How to check EPF balance through SMS: A step-by-step guide

EPFO extends auto claim settlement facility to education, marriage and housing advance

As per the statement issued by the retirement fund body on Monday, the auto claim settlement facility will bring down the settlement time from 10 days to within three-four days. EPFO expects around 22.5 million of its subscribers to reap the benefits of this facility.

Will higher EPS pension dream collapse due to EPFO's new calculation rules?

There have been reports that EPFO has adopted a new rule for calculating higher EPS pension for members who have retired on or after September 1, 2014. As per reports the services period is getting divided into two parts and pension is calculated on pro rata basis which is likely to result in reduced pension for these members.

EPFO to challenge HC ruling against inclusion of foreign workers under its ambit

In a recent judgement, the high court termed the EPF scheme provisions covering 'international workers' unconstitutional if international workers earning several lakhs are required to contribute to provident fund on their full salary, whereas the contribution is capped at Rs 15,000 for Indians working overseas.

EPFO evaluates course of action on Karnataka HC judgement on foreign workers

"While holding the highest regard for the Court's decision, the EPFO (Employees' Provident Fund Organisation) is actively evaluating the course of action in response to this judgement," the EPFO said in response to the queries pertaining to the judgement.

HC strikes down inclusion of foreign workers in PF, calls it unconstitutional

HC's call will likely face resistance from the govt and the PF body because already a large number of expats have either contributed to or are currently enrolled in the social security program.

Growth momentum likely to stay in Q1FY25: FinMin

The finance ministry's April report predicts strong economic activity in FY25, with rising industrial activity and fixed investments. Positive macro-economic indicators include a bright manufacturing outlook and improved services sector, supported by increased capacity utilization and EPFO data.

India's employment data: PM Modi's naukri numbers appraisal spars with Congress in election fray

Narendra Modi: India is in the final stages of a significant election campaign, with a focus on job discussions taking precedence. The ruling BJP, led by Prime Minister Narendra Modi, highlights positive employment indicators. However, the opposition, particularly Congress leader P. Chidambaram, challenged these claims and demanded transparency on job creation data.

New rule for EPF death claim: Is Aadhaar seeding mandatory for physical claims?

The Employees' Provident Fund Organisation (EPFO) announced that in the event of an EPF member's death, it has received specific references from field offices stating that they cannot seed and validate Aadhaar. The EPFO stated in a circular dated May 17, 2024, that in certain instances, filing officials could not process the aforementioned physical claims, which caused an unwarranted delay in the prompt transfer of compensation to the affected claimants.

EPF claim rejection: 8 reasons EPF withdrawal claim can get rejected

There can be a mismatch in the name mentioned in the EPF records with that of what is mentioned on Aadhaar. If there is a mismatch in the name, you should submit a joint declaration for along with the claim to correct it, as per EPFO.

New EPF auto-settlement claim rules for medical, education, marriage, housing: How to use this facility, eligibility

EPF auto-settlement of withdrawal claims: The EPFO in a press release has announced extending the coverage of auto-settlement of withdrawal claims to marriage, housing and higher education. The auto-settlement claim was earlier available for specified medical illness only. Read on to know who can apply for these claims, documents required to apply and other details.

EPFO Payroll data shows surge in youth employment; 15.48 lakh net members added in February 2024

The EPFO's provisional payroll data for February 2024 reveals a significant increase of 15.48 lakh net members, with the 18-25 age group constituting 56.36% of new additions. The data also shows a positive trend in female employment, with around 2.05 lakh new female members added during the month. The release highlights a diverse workforce, with growth seen in various industries. Overall, the data reflects a positive outlook for youth employment and inclusivity in the workforce.

EPFO to undergo revamp as user base gets bigger

Some of the changes envisioned for the retirement fund body in the short, medium, and long term include restructuring of EPFO offices, business process re-engineering, leveraging IT for automatic settlement of claims and cadre restructuring, a senior government official told ET, requesting anonymity.

Wage ceiling under EPFO may be raised to ₹21k

The government is contemplating enhancing the wage ceiling under the Employees' Provident Fund Organisation (EPFO) to at least ₹21,000 from ₹15,000 now to widen the social security coverage, a step towards achieving universal social security.

When will EPF interest be credited for FY 2023-24? Here’s what EPFO has said, 4 ways to check PF balance

EPF interest for FY 2023-24: The Employees' Provident Fund Organisation (EPFO) announced the interest rate for provident fund deposits for the 2023–2024 fiscal year in February of 2024. The interest rate for 2023–24 was raised by the EPFO from 8.15% to 8.25% from the previous year.

New EPF rule on auto withdrawal claims under 68J; check details

EPF withdrawals: The Employees' Provident Funds Organisation (EPFO) has increased the qualifying limit of Paragraph 68J claims for auto claims processing. EPF subscribers can apply for an advance under Paragraph 68-J of the EPF Scheme for their own and their dependents' medical expenses.

Automatic EPF account transfer from old to new job: How EPFO's facility works

Automatic EPF account transfer: Employees Provident Fund (EPF) members can now automatically transfer their provident fund accounts from their old employer to new employer. However, this facility is available to certain EPF members only satisfying certain conditions. Read on to know to whom automatic EPF account transfer facility is available and how it works.

Labour codes may top new govt’s 100-day plan

Social security for informal sector workers, shift toward living wages likely to be part of near-term agenda. Insiders reveal that the upcoming government, led by the Bharatiya Janata Party (BJP), may prioritize the swift implementation of streamlined labor codes within its first 100 days post-election. A senior government official disclosed that the objective is to introduce these labor codes at the onset of the next fiscal year, commencing April 1, 2025, to align with the business cycle

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.

'Statistical jugglery': Congress slams govt over unemployment

Congress general secretary Jairam Ramesh said a Union Minister recently derided the ILO's Employment Report as a symptom of India's "slave mentality."

Do EPF members suffer loss if interest payment is delayed by EPFO? Know how withdrawal works when interest credit is pending

Going by the trends seen in many previous years, though interest rate on EPF deposits for the financial year 2023-24 was announced in February to be 8.25% however, the actual payment of interest into respective EPF accounts may take longer. Most EPF members have this concern whether they will lose out earning more interest due to this delay. We tell you how it works.

EPFO, PMO data breach: Centre says aware of reports, Cert-In looking into details

A social media user has claimed that data from EPFO and PMO were leaked on the global software and code repository GitHub. Senior officials told ET that the government is aware of the claims but "need to verify them first".

How to avoid rejection of EPF withdrawal claim; Steps provident fund member should take

EPF Withdrawal claim rejection: Many individuals are struggling to get their EPF money at the time of withdrawal. The reason for rejection of their EPF claim is due to mismatch in the details available in the EPFO records as well as in the EPF account holders' PAN, Aadhaar or incomplete KYC records. Here is how the EPF claim rejection can be avoided.

Govt initiatives, growing investment to create more job opportunities during decade: CEA

CEA V Anantha Nageswaran highlighted the government's initiatives and growing investments as drivers of job creation in the coming decade. He noted a positive shift from the last decade, with improved non-food credit growth and strong balance sheets for companies and banks. Nageswaran cited data showing job growth in manufacturing, services, and construction sectors, emphasizing the need for continued growth. He also mentioned government efforts in skill development, EPFO contributions, and infrastructure investment, while calling for simplifying regulatory and tax policies to further support business and job creation.

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 hikes interest rate for 2023-24 to 3-year high of 8.25% from 8.15%

The Employees’ Provident Fund Organisation, on Saturday, raised the interest rate on provident fund deposit to 8.25% for 2023-24 compared to 8.15% in the preceding year and 8.10% in 2021-22, a move that will cheer up over 65 million EPFO subscribers.EPFO hikes interest rate for 2023-24 to 3-year high of 8.25% from 8.15%

Formal job creation under EPFO up by 2.7% to 1.62 million in January: Payroll data

As per the provisional data, released by the ministry of labour and employment on Sunday, the year-on-year net new subscribers addition to EPFO was higher by 7.8% when compared to 1.48 million net new subscribers added in January 2023.

EPFO adds 16.02 lakh members in January; 8.08 lakh enroll for 1st time

EPFO added 16.02 lakh subscribers in January 2024, with a significant influx of youth members. Female participation increased, indicating a shift towards a more inclusive workforce. The data reflects continuous updates since April 2018.

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.

EPFO likely to credit 8% in poll year

The retirement fund body is also likely to seek the board's nod to substantially increase its investment in stocks to 15% from around 10% now to enhance the return on investments. "This being an election year, the government will ensure a sustainable rate of return on provident fund (PF) deposits which is also at par with the existing rates to avoid any backlash," said an EPFO board member.

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).

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.

​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 restricts credits, deposits into EPF accounts linked with Paytm Payments Bank from this date

The EPFO advised all its Field Offices to refrain from accepting claims associated with bank accounts in Paytm Payment Bank Limited with effect from next month.

EPFO contributions to cross ₹3 l cr in '24-25

EPFO schemes are expected to receive around ₹3 lakh crore in total contributions in 2024-25, 8% more than this year and 2.5 times higher than pre-pandemic levels. The expected increase is attributed to strong economic growth, employment generation, formal job creation, rising wages, inflation, and the government's vision to widen the social security net.

EPFO adds 13.95 lakh net members during November 2023

EPFO added 13.95 lakh net members in November 2023, with a higher cumulative net addition during the current financial year compared to the previous year. Majority of new members joining the organized sector workforce are youth, with the 18-25 age group constituting 57.30%. Gender-wise analysis shows a growing participation of female employees, with 20.05% net female members. Maharashtra, Tamil Nadu, Karnataka, Haryana, and Delhi have the highest net member addition.

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.

EPFO announces 8.25% interest rate for 2023-24

The central board of trustees of EPFO, headed by the labour and employment minister Bhupender Yadav, gave its go ahead to the proposed interest rate at the 235rd board meeting of EPFO on Saturday.

Pensioners threaten hunger strike over insufficient pensions; Demand Rs 7,500 minimum monthly pension

Pensioners covered by the Employees' Pension Scheme 1995 (EPS-95) are planning a hunger strike to demand an increase in their minimum monthly pension to Rs 7,500, up from the current Rs 1,000 set in September 2014. Despite assurances from the Union Labour Minister, discontent remains, prompting the National Agitation Committee to announce a second indefinite hunger strike at Jantar Mantar in New Delhi. Over 50,000 pensioners may join the protest if their demands are not met by January 31, with dissatisfaction arising from the perceived inadequacy of the current pension structure. The EPFO manages the concerns of 78 lakh pensioners in the country, facing a significant challenge as the agitation gains momentum.

Employees’ Pension Scheme (EPS) members having multiple account numbers: EPFO rules to know

The following procedures must be undertaken if an EPS member has several account numbers for concurrent employment, simultaneously at two or more establishments, according to the EPFO circular dated January 29, 2024.

Govt reconstitutes the central board of trustees of EPFO

The CBT is constituted for a period of five years and the last board was notified on November 9, 2018. The constitution of the new board will pave way for the much-awaited CBT meeting of the EPFO to decide on interest rates for 2023-24.

Formal job creation under EPFO up 11.9% to 1.56 million in December 2023: Payroll Data

As per the payroll data released by the ministry of labour and employment on Tuesday, the year-on-year net new subscribers addition to EPFO was higher by 4.62% when compared to 1.49 million net new subscribers added in December 2022. This surge in membership can be attributed to various factors, including increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO’s outreach programs, the labour ministry said

EPFO adds a net 15.62 lakh members in Dec; 8.41 lakh new subscribers join workforce

Retirement fund body EPFO recorded a net addition of 15.62 lakh members in December 2023, according to payroll data released on Tuesday. An increase of 11.97 per cent has been registered in net member addition during December 2023 compared to the previous month, a labour ministry statement said.

Shift of labour to non-farm jobs: Why it's high time to reform India's job-creation laws

India aims to reduce agriculture's 'self-exploitation' through non-farm jobs. This requires addressing problems with job laws, promoting direct benefit transfer, improving infrastructure and human capital, and reforming social security and labor codes.

Have multiple EPF account UANs? Here’s how to merge more than two UANs

The UAN is constant throughout your career; even if you change jobs over the years, your UAN will remain the same. With the use of the Universal Account Number, or UAN, one can merge their multiple EPF accounts.

Latest EPFO rules: How to unblock inoperative EPF account, settle claims

The EPFO has especially outlined the procedural complications involved in UAN generation/linking, KYC seeding, blocking, unblocking, and paying claims for transaction-less accounts and inoperative Accounts. Let us take a look at what the EPFO SOP had to say about inoperative accounts.

PF interest rate set at 8.25% for FY24, the highest in three years; payout to top ₹1 lakh cr

The increase in interest rate by the EPFO comes on the back of strong financial returns earned by the retirement fund body this year, including on its investments in equity, and almost negligible Covid-19 withdrawals, officials said. EPFO's earnings in 2023-24 stand at ₹13 lakh crore, up 17.97% from ₹11.02 lakh crore in 2022-23, the labour and employment ministry said in a statement.

EPF interest rate hiked to 8.25% for FY 23-24; 4 ways to check your EPF balance

EPF interest rate for FY2023-24: The interest rate will be formally announced in the government gazette if approved by the Ministry of Finance. EPFO will then credit the agreed rate of interest to its EPF subscribers' accounts.

Applying for higher EPS pension: As glitches plague EPFO portal, govt may again extend deadline

At present, the deadline for submission of applications for higher pension ends on June 26. The process continues to be riddled with an array of technical snags that the Employee Provident Fund Organisation (EPFO) has not been able to fix, despite them being flagged by both employees and employers repeatedly.

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.

Employers can log in to EPF portal to check on liabilities

The Employees' Provident Fund Organisation (EPFO) in India has introduced automated solutions for damages and interest calculations to improve the ease of doing business for employers. This will enable employers to check their liability towards the retirement fund body every time they log in to their EPF portal.

EPS higher pension: 'Unable to submit,' EPFO members complain on Twitter as deadline nears

Many EPF members are complaining on Twitter that they are unable to submit the joint application form on the EPFO's Member Sewa portal for higher pension. It is important to note that the last date to apply for higher pension from EPS is July 26, 2023 - which is coming Monday.

Formal job creation under the Employees' Provident Fund Organisation up 18% in Oct

In October, formal job creation under the Employees' Provident Fund Organisation (EPFO) increased by 18.2% year-on-year, adding 1.53 million net new subscribers. However, compared to September's 1.72 million jobs, sequential formal job creation declined by 11%. The EPFO added 770,000 new members in October, a 6.07% rise from the same month last year, with 58.6% of the new joiners in the age group of 18-25 years.

EPFO disburses Rs 48,000 crore Covid advance to over 22 million subscribers in 3 years

As per the draft Annual Report 2022-23, EPFO disbursed Rs 17,106.17 crore in 2020-21 benefitting 6.92 million beneficiaries, Rs 19.126.29 crore in 2021-22 to 9.16 million beneficiaries and Rs 11,843.23 crore to 6.20 million beneficiaries in 2022-23.

Budget 2024 may offer concessions to boost NPS, especially for seniors above 75

The government may extend tax concessions on contributions and withdrawals in the NPS for individuals aged 75 and above in the upcoming interim Budget. The Pension Fund Regulatory and Development Authority (PFRDA) is pushing for "parity" with the Employees' Provident Fund Office (EPFO) regarding taxation on employer contributions.

EPFO lays out SOPs for freezing and de-freezing of accounts

The retirement fund body says verification of freezed accounts have to be completed in up to 30 days and extendable up to 14 days for due diligence to secure funds in these accounts.

Net new women EPFO subscribers addition rises to 28.69 lakh in FY23

The EPFO saw a significant rise in new women subscribers, recording 28.7 lakh additions in FY23 compared to 15.9 lakh in 2019-20, indicating increased formal job creation despite the pandemic. Minister Rameshwar Teli highlighted this as an indicator of job market formalization. Female unemployment dropped to 2.9%, improving from 4.2% in 2019-20, as per PLFS data. Initiatives like extended maternity leave and safety measures aim to provide equal opportunities and a safer work environment for women.

Formal job creation under EPFO down 14.2% to 1.39 million in November, according to payroll data

As per the provisional payroll data, released by the ministry of labour and employment, EPFO also registered a decline of 9.15% in formal job creation month-on-month as 1.53 million net new jobs were created in the retirement fund body in October 2023.

EPFO removes Aadhaar from list of acceptable documents for proof for updation/correction of date for birth; check details

EPFO update: EPFO has announced that Aadhaar has been removed from the list of acceptable documents for proof of date of birth (DoB) for correction, updation purposes.

Higher EPS pension: Snags hit EPFO portal as deadline looms

Issues persist despite being red flagged by EPFO’s Central Board of Trustees as well as by employer organisations.

Formal job creation under EPFO up marginally in September

Provisional payroll data of EPFO, released on Monday, shows 1.72 million net new jobs were created in September compared to 1.69 million added in August this year or 1.68 million added during the same month last year.

EPS-95 pensioners stage demonstrations to press for minimum monthly pension of Rs 7,500

Pensioners under the Employees' Pension Scheme 1995 (EPS-95) demonstrated at 110 offices of the Employees' Provident Fund Organisation (EPFO) across India, urging for a minimum monthly pension of Rs 7,500 plus dearness allowance. Presently, the minimum monthly pension is Rs 1,000, initiated from September 1, 2014.

India shares social security data with US

New Delhi, will this week, push for a totalisation pact to do away with dual social security taxation for its workers, with US trade representative Katherine Tai under the India-US Trade Policy Forum.

Totalisation pact: India shares social security data with US

This assumes significance as India has already refused a Double Contribution Treaty with the UK in case of intra-corporate transfers. “At present, temporary employees don’t get benefits in either of the countries and their savings get forfeited. We say don’t take money from the employees in the UK but let them continue with their social security in India,” an official said. With the US, India will also take up issues related to H1, E1 and E2 visas taking too long.

EPFO likely to extend the deadline for higher EPS pension by three months: Sources

Employees were facing many issues while applying for higher pension due to a lack of clarity on various rules and delayed clarification from EPFO made it difficult for large number of employees to exercise their hard-earned option to apply for higher pension from Employees' Pension Scheme (EPS). Here are some reasons why extension is needed.

EPFO retires Covid advance facility, move may impact consumption

According to experts, the move may impact consumption as much of the Covid advance was being used for discretionary purchases and other expenses. They also opined that the decision has come too late and that it had impacted the availability of funds at EPFO's disposal.

Today is the last day to apply for higher EPS pension

The deadline to apply for higher pension from Employees' Pension Scheme (EPS) is June 26, 2023 i.e., today. However, it may happen that you still haven't applied for the same or are unable to submit the application form due snags on the website. Then you must hurry up and submit the application form before the deadline expires tonight.

Private sector’s default on PF dues has risen by almost 10% in last 5 yrs, says EPFO's draft report

The private sector's default on provident fund dues with the Employees' Provident Fund Organisation (EPFO) has increased by almost 10% over the last five years, resulting in arrears of over Rs 15,000 crore for the retirement fund body in 2022-23. The majority of these defaults occurred in the first two years of the pandemic.

EPFO yet to junk controversial clause on ‘prior permission’

On April 12, the Kerala high court had directed the pension fund manager to remove the mandatory submission under Para 26 (6) from its application form within 10 days.

EPF e-passbook facility down again

EPF subscribers have expressed concern because the e-passbook service has been down for a few days. However, members are not able to download their e-passbooks via the EPFO website or on the Umang app.

Will EPFO extend deadline to apply for higher pension from EPS?

Wednesday i.e., May 3, 2023, is the last day to apply for a higher pension from the Employees' Pension Scheme (EPS). However, many people are still not clear about how to apply, clarification on the replacement mechanism of an additional 1.16% contribution etc. The question arises will the EPFO extend the deadline for the second time?

EPFO to run special recovery drive from December to February

In response to the escalating challenge of delayed recovery of dues from subscribers, the Employees’ Provident Fund Organisation (EPFO) is set to embark on a special recovery drive spanning three months, starting from December 2023 to February 2024.

Crucial EPFO board meeting begins today; EPF interest rate for FY2022-23 likely to be announced by tomorrow

The Central Board of Trustees of the EPFO is holding a crucial two-day meeting commencing on Monday in the national capital to decide the EPF interest rate on the retirement corpus for 2022-2023.

Higher EPS pension: Will pensioners' arrears get adjusted against higher contribution dues from them? EPFO answers

The Employees' Provident Fund Organisation (EPFO) has issued revised FAQs on higher EPS pension on December 13, 2023. The newly added FAQ answers pensioners queries about whether their pension arrears due will be adjusted against higher contribution dues. A pensioner retired after September 1, 2014 is eligible to apply for higher pension.

7.51 million beneficiaries registered under ABRY: MoS Teli in Lok Sabha

ABRY was launched at the time of Covid with effect from October 1, 2020 to incentivize employers for creation of new employment and restoration of loss of employment during Covid-19 pandemic. The terminal date for registration of beneficiaries was 31.03.2022. The scheme was launched as part of Atmanirbhar Bharat package 3.0.

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 board approves framework for timely dissemination of information

​The EPFO board also approved the Draft Audit Manual which will help standardize audit procedures, provide a training resource for employees, facilitate decision-making, and consolidate audit information in EPFO, the Ministry of Labour & Employment said in a statement. The decisions were taken at EPFO's 71st Foundation Day on Tuesday.

Borrowers are getting fake employment certificates for Rs 20,000: Report on loan KYC fraud

A report has been released by IDfy on KYC risks in lending. The report has talked about how borrowers try to fraud the lenders by providing fake employment, income tax certificates, tampering in Voter ID, Aadhaar and other officially valid documents. The report further suggests how fraudsters use loopholes in KYC process to defraud banks.

EPFO says online facility to submit joint option form for higher EPS pension ‘coming soon’

The EPFO circular issued on February 20, says that the EPF commissioner will specify the form and method for eligible employees to submit the application. The last date to submit the application for a higher pension under the EPS is March 3, 2023, which is just seven days away.