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
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EPFO
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
Government notifies National Apprenticeship Promotion Scheme
Government notifies National Apprenticeship Promotion Scheme Government has notified National Apprenticeship Promotion Scheme. It is for the first time a scheme has been notified to offer financial incentives to employers. The Scheme has an outlay of Rs. 10,000 crore with a target of 50 Lakh apprentices to be trained by 2019-20.Apprenticeship Training is considered to be one … [Read more...] about Government notifies National Apprenticeship Promotion Scheme
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
Panel to submit report on one regulator for pension products
Panel to submit report on one regulator for pension products Mumbai: A panel formed by the government to look into the issue of bringing all pension products under one regulator is likely to submit its report shortly, a top official of pension watchdog PFRDA said today. At present, pension products are being regulated by multiple financial regulators like PFRDA, Sebi, … [Read more...] about Panel to submit report on one regulator for pension products
Unions walk out of EPF Trustees Meeting
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
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
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
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