The number of fresh formal jobs increased for the third consecutive month in June to hit a 9-month high, thus signalling a sustained recovery in the labour markets in the first quarter of financial year 2023-24 (FY24), shows the latest payroll data released by the Employees’ Provident Fund Organisation (EPFO). The number of new monthly …
EPFO Data: Fresh Formal Job Creation Touches 9 Month High in June 23 Read More »
Officers of the Employees’ Provident Fund Organisation (EPFO) shot off an unusually grave missive to the Central government on Wednesday, slamming its inaction on fixing the fund’s archaic and “collapsing” software systems, and finalising replacements for old servers that would likely stop working by January 2024. In their communique to Union Labour and Employment Minister Bhupender Yadav, …
Download: Official Gazette The Union finance ministry has notified the rate of interest for provident fund contributions at 8.15% for 2022-23. “The Ministry of Labour and Employment, Government of India, has conveyed the approval of the Central Government under para 60 (1) of Employees’ Provident Fund Scheme, 1952 to credit interest for the year 2022-23 …
PF: Finance Min Approves 8.15% Interest Rate for FY23 Read More »
The Employees Provident Fund Organisation (EPFO) has released Frequently Asked Questions (FAQs) on higher EPS pensions. The FAQs will help you understand the documents you will require and the application forms while applying for higher pensions. It will help let you know how to calculate the pension using a formula for pension calculation, etc. The …
EPFO: FAQs on Higher Pension – Calculate Pension Using the Formula Read More »
The Employees Provident Fund Organisation (EPFO) has announced another extension to the application deadline for higher pension. Eligible members now have until July 11 to apply for the increased pension. This decision to grant multiple extensions was prompted by a Supreme Court verdict in November 2022, which was followed by delays in the issuance of clarification circulars. …
EPFO: Extends the Deadline for Higher Pension till July 11 Read More »
Retirement fund body EPFO (Employees’ Provident Fund Organisation) fixed 8.15 per cent rate of interest on employees’ provident fund (EPF) deposits for 2022-23 at its meeting today. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent …
As the deadline set by the Supreme Court for submitting joint options of employees and employers to claim higher Provident Fund pension is ending on March 4, the Union Labour Ministry has sent a letter to the Employees’ Provident Fund Organisation (EPFO) asking it to expedite the process so that those who want to claim higher pension …
Labour Ministry asks EPFO to speed up work on higher pension Read More »
Subscribers of the Employees’ Provident Fund, who had not opted for higher pension under an earlier window, have been provided another option now. In compliance with the Supreme Court’s November 4, 2022, order, the Employees’ Provident Fund Organisation (EPFO) Monday issued instructions to all its regional and zonal offices on the manner in which employees should …
After days of discussions, the Employees’ Provident Fund Organisation (EPFO) has issued a circular on Monday to its regional offices with a set of instructions to implement the November 4 judgment of the Supreme Court on higher provident fund (PF) pension. It lists the procedures and required documents for existing employees and for those who retired after …
EPFO Issues Guidelines for Employees, Pensioners To Opt For Higher Pension Read More »
