30 lakh to benefit from new EPF limit The move will help 1.2 crore people who will now be eligible for health care benefits. The Centre's move to increase the wage ceiling for employee coverage under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, to Rs 25,000 per month from the existing Rs 15,000 per month limit is expected to benefit a larger … [Read more...] about 30 lakh to benefit from new EPF limit
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EPFO - Employees Provident Fund Organisation
After 7th Pay Commission salary hikes, move on to raise minimum wage ceiling under EPF
After 7th Pay Commission salary hikes, move on to raise minimum wage ceiling under EPF The minimum wage ceiling under the Employees' Provident Fund (EPF) could soon be raised to Rs 25,000 from the existing Rs 15,000. A hike in the wage limit as proposed would mean all employees drawing basic salary Rs 25,000 would have to compulsorily contribute to the provident … [Read more...] about After 7th Pay Commission salary hikes, move on to raise minimum wage ceiling under EPF
Central Board of Trustees recommends 8.65% interest on EPF
Press Information Bureau Government of India Ministry of Labour & Employment 19-December-2016 16:54 IST Shri Bandaru Dattatreya chaired the 215th meeting of the Central Board of Trustees (EPF) CBT recommends 8.65% interest on EPF to its subscribers for the year 2016-17 The Minister of State for Labour and Employment (Independent Charge) Shri Bandaru Dattatreya … [Read more...] about Central Board of Trustees recommends 8.65% interest on EPF
7th Pay Commission – Employees Provident Fund may be raised to Rs 25,000
7th Pay Commission - Employees Provident Fund may be raised to Rs 25,000 Under the 7th Pay Commission minimum wage ceiling the Employees Provident Fund (EPF) is likely to raise to Rs 25,000 from the existing Rs 15,000. The proposal drafted by Employees’ Provident Fund Organisation (EPFO) will be sent to the Union Government which is likely to be approved, the report … [Read more...] about 7th Pay Commission – Employees Provident Fund may be raised to Rs 25,000
EPFO joins network of Common Services Centers
EPFO joins network of Common Services Centers To expand the reach of convenience offered to EPF members, Employees Provident Fund Organisation (EPFO) has joined the network of Common Services Centers (CSC). A Memorandum of Understanding (MoU) has been signed between EPFO and CSC e-Governance Services India Limited (CSC SPV) on 25th October 2016. The MoU is initially for a … [Read more...] about EPFO joins network of Common Services Centers
Prime Minister concerned over grievances of EPF beneficiaries
Prime Minister concerned over grievances of EPF beneficiaries New Delhi: Prime Minister Narendra Modi today expressed concern over the large number of grievances of labourers and EPF beneficiaries and said a system should be in place under which the process of finalisation of retirement benefits for all employees can begin a year in advance. “Discussed methods … [Read more...] about Prime Minister concerned over grievances of EPF beneficiaries
Centre to Raise EPF Equity Exposure to 10 Percent
Centre to Raise EPF Equity Exposure to 10 Percent : The proposal to hike the exposure to equities was discussed with the EPFO s central board of trustees twice in recent months. One in every ten rupees parked in your provident fund would now be invested on Dalal Street, with the government deciding to double EPF savings’ exposure to equities from the present level of 5 per … [Read more...] about Centre to Raise EPF Equity Exposure to 10 Percent
EPFO plans to hike minimum pension to Rs.2k
EPFO plans to hike minimum pension to Rs.2k The Employees Provident Fund Organization (EPFO) is considering an option to double the minimum pension amount to Rs.2,000. The financial implications of the move are being measured. There were plans to announce the decision before the strike of central trade unions on September 2. However, sources said, the move might have been … [Read more...] about EPFO plans to hike minimum pension to Rs.2k
Clean up the employees pension scheme
Clean up the employees’ pension scheme Though a majority of organised workers are covered under the Employees’ Pension Scheme (EPS) 1995, there is still very low transparency level. Many readers might not have even heard about it because EPS is not a separate scheme. It is just an add-on to the Employee Provident Fund (EPF) scheme and all EPF members also … [Read more...] about Clean up the employees pension scheme
Pledging PF to buy home may soon become a reality
Pledging PF to buy home may soon become a reality Retirement fund body EPFO may soon introduce a scheme to allow its over 4 crore subscribers to pledge their provident fund to buy low-cost houses and use the account to pay equated monthly installments. “We are working on a housing scheme for members of the Employees’ Provident Fund Organisation (EPFO). Under it, members … [Read more...] about Pledging PF to buy home may soon become a reality
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