Unions walk out of EPF Trustees Meeting Unions walk out of EPF Trustees Meeting – “There is nothing such as unclaimed EPF money and the notification is illegal,” said AITUC secretary DL Sachdev. Central trade union leaders on Tuesday walked out from the Employees’ Provident Fund Organisation (EPFO)’s central board of trustees meeting protesting a Finance Ministry … [Read more...] about Unions walk out of EPF Trustees Meeting
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EPFO - Employees Provident Fund Organisation
Interest Rate for General Provident Fund – Finmin Orders
Interest Rate for General Provident Fund – Finmin Orders Resolution – accumulations at the credit of subscribers to the GPF and other similar funds – 2016 (PUBLISHED IN PART I SECTION OF GAZETTE OF INDIA) F.No.5(1)-B(PD)/2016 Government of India Ministry of Finance Department of Economic Affairs (Budget Division) New Delhi, Dated the 2nd June, 2016 RESOLUTION It … [Read more...] about Interest Rate for General Provident Fund – Finmin Orders
EPFO disbursed Rs. 47,630 crore as member benefits and Rs. 8,200 crore as monthly pensions in 2015-16
EPFO disbursed Rs. 47,630 crore as member benefits and Rs. 8,200 crore as monthly pensions in 2015-16 In 2015-16, EPFO disbursed approximately Rs. 47,630 crore as member benefits and Rs. 8,200 crore as monthly pensions. To monitor the status of enrolment of contractual employees especially in municipalities, EPFO has taken steps towards putting in place a system where … [Read more...] about EPFO disbursed Rs. 47,630 crore as member benefits and Rs. 8,200 crore as monthly pensions in 2015-16
NPS Subscription earns double digit yearly returns for the past 5 years
The average NPS fund has given 100-125 basis points more than what the retirement savings of the estimated 3.7 crore EPF subscribers have earned during this period. NPS Subscription earns double digit yearly returns for the past 5 years which comparatively higher than EPF interest rates – Central and state government employees covered by the scheme earned between 9.3% and … [Read more...] about NPS Subscription earns double digit yearly returns for the past 5 years
Restriction on EPF withdrawal
Restriction on EPF withdrawalAs per extant rules governing the withdrawal of Employer’s contribution from the Employees Provident Fund Scheme, a member can withdraw both the employer’s share of contribution and his own share under the following circumstances: - (i) On retirement from service after attaining the age of 55 years. (ii) On retirement on account of permanent … [Read more...] about Restriction on EPF withdrawal
Relaxation in EPFO scheme
Relaxation in EPFO schemeThe Government proposes to relax/amend the Employees' Provident Fund Scheme to enable loss-making and sick PSUs to continue to run their own Provident Fund Trusts. The proposal is being examined in consultation with Central Board of Trustees, Employees’ Provident Fund. The said relaxation will not be applicable to the private firms and their … [Read more...] about Relaxation in EPFO scheme
Government raises provident fund interest rate to 8.8% for 2015-16
Government raises provident fund interest rate to 8.8% for 2015-16 In the third roll-back in two months, the government today raised the interest rate on employee provident fund (EPF) contributions to 8.8 per cent for 2015-16 against 8.7 per cent approved by the Finance Ministry last week. Labour Minister Bandaru Dattatreya announced the decision to raise interest rate on … [Read more...] about Government raises provident fund interest rate to 8.8% for 2015-16
New EPF withdrawal norms put on hold for 3 months
New EPF withdrawal norms put on hold for 3 monthsEPF withdrawal norms put on hold till July 31st 2016 – Earlier, with the consent of Trade Unions and with the intention of promoting a decent accumulation of provident fund in members account Partial withdrawal was proposed to be disallowed The Govt puts on hold new Provident Fund withdrawal norms till July 31. New PF … [Read more...] about New EPF withdrawal norms put on hold for 3 months
Successful Strike on 11th July 2016 will fetch decent 7th Pay Commission Pay and Allowances
Successful Strike on 11th July 2016 will fetch decent 7th Pay Commission Pay and Allowances –Confederation of Central Government Employees and Workers, Karnataka Branch observes in the background of Govt’s decision to withhold Provident Fund withdrawal Policy on the response of Flash Strike by Garment Factory Workers in Bangalore Comrades, The flash strike against the … [Read more...] about Successful Strike on 11th July 2016 will fetch decent 7th Pay Commission Pay and Allowances
Government puts on hold new Provident Fund withdrawal norms till July 31
The Government puts on hold new Provident Fund withdrawal norms till July 31. New PF withdrawal norms proposes to bar withdrawal of employer’s contribution to the provident fund corpus until the employee attains the age of 58 years. On the issue of new Provident Fund withdrawal norms, the government today decided to keep the implementation of new norms in abeyance for three … [Read more...] about Government puts on hold new Provident Fund withdrawal norms till July 31
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