Employees Provident Fund Organization (EPFO) invests 85% of the funds in debt instruments and 15% of the investment is made in Exchange Traded Funds (ETFs), as notified by the government according to the investment pattern.

Based on Nifty 50, Sensex, Central Public Sector Enterprises (CPSEs) and Bharat 22 Indices, the investment in ETFs is made. EPFO does not invest in individual companies ‘ stock and shareholdings.

Also check: 4% DA hike to Central Government employees is confirmed as from 1 January 2020

Shri Santosh Kumar Gangwar Union Minister of State (I / C) for Labor and Employment received this information in written reply to a question today in Lok Sabha.

PIB

The post EPFO – Employees Provident Fund Organization – EPF Subscribers – PIB appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

02 JAN 2019

Government is working on an Incentive Scheme wherein seven weeks wages shall be reimbursed to employers who employ women workers and provide the maternity benefit of 26 weeks paid leave, as provided for in the Maternity Benefit (Amendment) Act, 2017.

To enable an entity to avail of the incentive, the women employees working in their entity should be a wage earner of less than Rs.15,000/- per month and a member of Employees’ Provident Fund Organization (EPFO) for at least one year and not covered by Employees’ State Insurance Corporation (ESIC).

A meeting of Stakeholders’ Consultation with representatives of concerned Central Ministries, State Governments, Employers’, Employees’ etc. was held on 14.11.2018 to discuss the matter. The Scheme was supported by and large with the majority of stakeholders.

The scheme is proposed to be administered after obtaining the approval of the competent authorities. The Incentive is proposed to be funded from the budgetary allocations. Government has not made any allocation for the scheme during the current financial year.

This information was given by Shri Santosh Kumar Gangwar, Minister of State (I/C) for Labour and Employment in written reply to a question in Rajya Sabha today.

PIB

The post Scheme to partially reimburse employers for Maternity Benefits appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

Coverage and Sources of data

1. The Employees Provident Fund Scheme (EPF) is a mandatory savings scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is managed under the aegis of Employees’ Provident Fund Organization (EPFO). It covers every establishment in which 20 or more persons are employed (and certain other establishments which may be notified by the Central Government even if they employ less than 20 persons each), subject to certain conditions and exemptions as provided for in the Act. The pay ceiling is Rs.15000/- per month. Persons drawing pay above Rs. 15,000 are exempted or can be enrolled with some permission or on voluntary basis. The number of members subscribing to this scheme gives an idea of the level of employment in the formal sector. The data on subscribers-new members, exited members and those subscribers that re-started their subscription is sourced from EPFO. More details are available at www.epfindia.gov.in.

2. The Employees State Insurance Act, 1948 is applicable to non-seasonal, manufacturing establishments (other than a mine subject to the operation of the Mines Act, 1952 (35 of 1952), or a railway running shed) employing 10 or more workers. For health and medical institutions, the threshold limit is 20 or more workers. ESI Scheme for India is an integrated social security scheme tailored to provide socio-economic protection to the workers in the organized sector and their dependents, in contingencies, such as Sickness, Maternity and Death or Disablement due to an employment injury or occupational hazard. The wage ceiling is Rs.21000/- per month. Beneficiaries are termed as Insured Persons (IP) and a new IP number can also arise due to change in employment. Employees may cease to pay contribution due to wage exceeding the statutory ceiling of Rs.21000/- per month or owing to resignation, death, retirement or dismissal. The number of subscribers of this scheme also gives an idea of the level of employment in the formal sector. Data is sourced from Employees’ State Insurance Corporation (ESIC) and the information may have an element of duplication with EPF data and is thus not additive. More details are available at www.esic.in.

3. The Pension Fund Regulatory and Development Authority (PRFRDA)’s National Pension scheme (NPS) is an easily accessible, low cost, tax-efficient, flexible and portable retirement savings account. Under the NPS, the individual contributes to his retirement account and also his employer will co-contribute for the social security/welfare of the individual. NPS is designed on defined contribution basis wherein the subscriber contributes to his account, there is no defined benefit that would be available at the time of exit from the system and the accumulated wealth depends on the contributions made and the income generated from investment of such wealth. Any citizen of India, whether resident or non-resident, individuals who are aged between 18 – 60 years as on the date of submission of his/her application can subscribe to the scheme. From 1st January 2004, the central and the state governments have adopted this scheme for new employees except for armed forces. This was extended to other establishments from 2009 onwards. More details are available at www.pfrda.org.in.

Download the full details from Central Statistics office

The post Payroll Reporting in India: An Employment Perspective – Coverage and Sources of data appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

Employees’ Provident Fund Organization (EPFO) is developing online claims settlement process by receiving application online. The application will be integrated with Unified Mobile App for New-age Governance (UMANG) App to receive the claims online. However, time frame to rollout the same has not been finalized. EPFO has engaged Centre for Development of Advanced Computing (C-DAC), Pune as its technical consultant for upgradation of its technology.

Necessary hardware by way of the latest technology for servers, storages & Networking equipments have been installed at three data centers in Delhi, Gurugram & Secunderabad.

This information was given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in written reply to a question in Lok Sabha today.

PIB

The post Development of EPFO APP – UMANG appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

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 held back for a rethink on the financial impact in case of hike in pension.

It started when revised actuarial calculations showed that there was a marginal surplus in the pension fund. EPFO caters to the pension of private sector employees and some PSUs. On the basis of the surplus, it was earlier planned to either increase the pension marginally, taking it to Rs.1,250 or provide a one-time benefit. There was also a pending demand to hike the pension to Rs.3,000 a month. This led to the option of hiking the pension to at least Rs.2,000 a month being considered, said a source. There are around 20 lakh pensioners who get the minimum amount of Rs.1,000 at present.

However, the ministry of finance has to be taken into confidence before initiating such a move, said a source. The gap is filled by MoF even for paying Rs.1,000 as minimum pension. This comes to around Rs.1,000 crore a year which is given on piecemeal basis. Once the pension is hiked, the impact will be more. Though the idea has not been entirely shelved, a rethink is under way, said a source.

Meanwhile, the Employees Pension Scheme (1995) Coordination Committee, an association of retired employees, has demanded that government should merge the National Pension Scheme (NPS) with EPS. The former is a contributory pension scheme applicable to government employees having joined service after 2004. “The association argues that since returns on NPS are based on returns on investment which are uncertain, EPS should be preferred. This is because EPS at least guarantees a minimum pension,” said Prakash Pathak, general secretary of the coordination committee.

The coordination committee has been lobbying for implementation of the Bhagatsingh Koshiari Committee recommendations which call for taking the minimum pension to Rs.3,000 and also adding dearness allowance to it. The committee’s recommendations also call for adding a health benefit, said Pathak.

The recommendations have been lying with the government since 2013 for want of a decision. Our association has been taking up the issue at various fora, said Pathak.

Souce : TOI

The post EPFO plans to hike minimum pension to Rs.2k appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

MINISTRY OF LABOUR & EMPLOYMENT
SHRAM SHAKTI BHAVAN
NEW DELHI – 110001

D.O. No. A-12026/05/2015-SS.1

February 17, 2016

Dear Secretary,
Employees Provident Fund Organization is an autonomous body under the Ministry of Labour & Employment. The financial/ accounts matter in the EPFO are looked after by FA & CAO which is in PB-4, GP: Rs. 10,000/-. The post of FA & CAO has fallen vacant on 29.12.2015 due to repatriation of its incumbent and is required to be filled on deputation/ short term contract basis. This Ministry has already issued a vacancy circular (copy enclosed) for the said post and the same has also been published in Employment News dated 6-12 February, 2016. The said vacancy circular is also available on the official website of this Ministry.

2. I shall be grateful, if you could kindly arrange to circulate the same amongst all eligible officers of organized Group ‘A’ service under your Ministry/Department and forward applications of interested & eligible officers to this Ministry before last date to receive such application .i.e. 21.03.2016.

With regards,
Yours sincerely,
(Shankar Aggarwal)

Encl: As above.
Shri Sanjay Kothari
Secretary,
Department of Personnel & Training,
Ministry of Personnel, Pub. Grievances & Pensions,
North Block,
New Delhi.

**********

F.No. A-12026/05/2015 – SS.I

Government of India/Bharat Sarkar
Ministry of Labour & Employment/Shram Aur Rozgar Mantralaya

New Delhi, dated the 13 January 2016

VACANCY CIRCULAR

Subject: Application for the post of Financial Adviser & Chief Accounts Officer (PB-4- Rs-37400-67000 Plus grade Pay Rs.10,000) on deputation/short term contract basis in Employees’ Provident Fund Organization — reg.
Applications are invited for filling up of one post of Financial Adviser & Chief Accounts Officer(PB-4- Rs-37400-67000 plus grade Pay Rs.10,000) to be filled on deputation/short term contract basis in Employees’ Provident Fund Organization under the administrative control of Ministry of Labour & Employment, New Delhi.

2. Following officers are eligible to apply for the post:-

Officers of the Central Government (including Officers of the Organized Accounts Services)/Officers of the Employees’ Provident Fund Organization failing which Officers of statutory or autonomous Organization who are :-

(a)(i) holding analogous post on regular basis; or
(ii) with 6 years’ regular service in the pay band of Rs.37,400-67,000 or equivalent in the grade pay of Rs.8700/-. and

(b) possessing minimum 5 years experience in budget, establishment and accounts
1. Period of deputationlcontract including period of deputation in another ex-cadre post held immediately preceding this appointment in the same or some other organization/department of the Central Government shall not exceed 5 years.

2, The maximum age limit for appointment by deputation shall be not exceeding :56 yearas off the closing date of receipt of application.

3. The Pay and allowance of the selected officer shall be regulated as per Deptt of Pers. & Trang OM No- 6/8/2009-Estt(Pay-II) dated 17.6.2010, as amended from time to time. Officers who volunteer for the post will not be permitted to withdraw their names subsequently.

4. It is requested that applications (in triplicate), in the prescribed profonna (Annexure) in respect of eligible and interested officers may be forwarded to Shri Manish Kumar Gupta, Joint Secretary, M/o Labour & Employment, Room No-106, Shram Shakti Bhawan, Rafi Marg, New Delhi through concerned Cadre Controlling Authorities along with following documents so as to reach within 45 days from the date of publication of this vacancy circular:-

a) Attested copies of the ACRs/APARs for last 5 years i.e. 2011-12 to 2015-16
b) Vigilance clearance
c) No penalty certificate
d) Integrity Certificate

5. Application received after prescribed date or without requisite documents will not be considered. Details of the Organization can be accessed at www.epfindia.com.

(Ajay Malik)
Under Secy to the Govt of India

Encl As above.

Original Circular

The post Filling up the post of Financial Adviser and Chief Accounts Officer in EPFO appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

Employees Provident Fund Organisation
(Ministry of Labour & Employment,Govt. Of India)
Bhavishya Nidhi Bhawan,14 – Bhikaji Cama Place
New Delhi-110066

No. Manual/Amendment/2011/7368

Dated: 2 JUL 2013

To
All ACCs (Zones),
Regional PF Commissioners- In Charge of the ROs/SROs

Subject:- Revised Transfer Claim Format.

Sir,
Kindly find enclosed herewith a sample of the revised Transfer Claim Form 13 which has been approved by the Central Provident Fund Commissioner for the smooth handling of transfer claims.

The new revised forms are to be used with immediate effect.
(This issues with the approval of FA & GAO)

End: – As above

Yours faithfully,
sd/-
Director (Audit) & Link
to RPFC (F & A)

Media News in this regard:

EPFO unveils revised provident fund transfer form for online transactions

Press Trust of India | Updated On: July 07, 2013 14:26 (IST)

New Delhi: Taking the first step towards launch of online provident fund (PF) transfer claim facilities, the Employees’ Provident Fund Organisation (EPFO) on Thursday unveiled the revised transfer claim form for the purpose.

The launch of full-fledged service of online transfer of provident fund transfer claims would take more than a month, said K K Jalan, the retirement fund body’s central provident fund commissioner.

The revised transfer claim form, which could be used online as well as manually, was unveiled by Labour and Employment Minister Sis Ram Ola.

According to Mr Jalan, the full-fledged service of online transfer of PF accounts on changing jobs would be possible only after employers’ have digital signatures for the purpose.

This is estimated to cost around Rs. 700 for an employer. At present, EPFO is supposed to settle a transfer of PF claim in 30 days period as per its citizen charter.

Through online settlement of claims, the body envisages to do it in three days.

On this occasion, the Minister said the expectation of EPFO beneficiaries for a timely settlement of claims is a justified one.

During 2012-13, 107.62 lakh claims were settled, out of which 88 per cent of claims were processed within the prescribed 30 days as per the body’s citizen charter. EPFO is expecting 1.2 crore claims in the current fiscal year.

The Labour Minister directed that all efforts should be made to not only settle the claims within the time, but also to reduce the time taken in settlement of claims.

The revised form will be called ‘Transfer Claim Form’ instead of Form 13 for easy comprehension by beneficiaries. The form can be presented after verification, either through the present employer or the previous employer.

Earlier, the form could be submitted after verification only through the present employer.

“It can be submitted online as well as in physical form. The facility of online submission of this form will be given shortly after process of collecting the digital signature of the employer is completed,” an EPFO statement said.

The facility to file physical form shall continue to cater to the needs of working class who do not have Internet access. Employees will be allowed to submit their applications online, if their employer is having registered digital signature, it said.

Under the new system of claim settlement, every beneficiary will be informed through SMS and e-mail about the stage of process of the claim to make the entire process transparent and accountable.

Initially, the facility of online transfer of PF account would be available for the employees of establishments whose account is managed by EPFO and not for the firms having private PF trusts who are managing their workers’ funds and accounts, Mr Jalan said.

EPFO is in the process of setting up a central clearance house, which will enable subscribers to apply online for withdrawal claim settlements and transfer of funds.

The biggest problem faced by subscribers is with regard to transferring their accounts on change of job. This central clearance facility will expedite the process, a union leader said.

However, the retirement fund body’s ambitious plans to provide permanent account numbers to all subscribers to avoid filing for PF transfer claims in the event of changing jobs will be possible only next year.

Read more at: http://profit.ndtv.com

Source/Download as pdf: http://www.epfindia.com

The post EPFO – Revised Transfer Claim Form 13 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

(Ministry of Labour, Govt. of India)
Head Office
Bhavishya Nidhi Bhawan, 14, Bliikaji Cama Place,
New Delhi-110 066.

No. Welfare/ 23rd Annual Meeting/CSWC/2013/6844

Dated : 14.6.2013/28 JUN 2013

To
All Regional Provident Fund Commissioners

Subject: Opening of Guest Houses/Holiday Homes.

Sir,
In the 23rd meeting of EPF Central Staff Welfare Committee held on 26-04-2013 in Head Office it was decided by the Committee to explore the possibilities of opening of guest Houses/Holiday Homes in the nearby areas of every EPFO Office. Accordingly requested to empanel Hotels/Lodges in your Region that can provide rooms per the eligibility/entitlement of the employees/Officers of Employees’ Provident Fund Organization. The rooms should not be earmarked but should be available as and when required. It is requested to send a 1ist of Hotels/Lodges empanelled for Further necessary action.
This may please be given Top Priority.

Yours faithfully,

(Uday Baxi)
Regional Provident Fund Commissioner(HRM)

Source: www.epfindia.com
[http://www.epfindia.com/Circulars/Y2013-14/Welfare_23rdAnnualM_6844.pdf]

The post Opening of Holiday Homes/ Guest Houses : EPFO appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

Employees Provident Fund (EPF), generally known as PF is a retirement benefit scheme available to the salaried class in India, wherein both the employer and employee contribute an equal amount towards the fund. This year, the EPFO (Employees Provident Fund Organization) has introduced an e-passbook facility for members, which enables them to check their PF account online.

What is an EPF e-passbook?

The EPF e-passbook is an online version of the employee’s provident fund account. Transactions are recorded date-wise and these can be tracked easily by the member. You can check your EPF balance online anytime you wish to.

How to register online?

Registration on the EPFO website is necessary to avail the e-passbook facility. The following steps need to be followed to register online –

1.      Visit the EPFO members site – http://members.epfoservices.in/

2.      Click on the “Register” at the bottom of the page or “Click here to Register” button under the Login area.

3.      You will reach the registration page, where you will have to enter your mobile number mandatorily. You will also need to enter your date of birth, email id and select one of the eight documents (PAN number, Aadhar (UID), NPR (National Population Register), bank account number, voter ID card, driving license, passport number or ration card number) along with its unique number and your name as it is in the document. On entering a six digit unique text character, you will have to click “GET PIN” to get a four digit authorization PIN on your mobile.

4.      Once you receive the PIN on your mobile, you will have to enter this PIN in the box provided at the bottom of the page. Check the “I agree” box and click on “Submit” button.

5.      After clicking on “Submit”, your registration will be complete and you will get a confirmation message on your mobile.
This completes the registration process on the EPFO member website.

The post How to get an online EPF Pass book appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.