NEW DELHI: The Employees’ Provident Fund Organisation (EPFO) will start giving out full pensions from May to those who opted for commutation at the time of retirement. Commutation is an option given to pensioners to convert a part of their monthly pension into an upfront lumpsum payment at the time of retirement. The full pension is restored after some time, […]
EPFO to disburse restored pension from This month Read More »
EPFO on Thursday allowed employers to file monthly PF returns without making simultaneous payment of dues, giving a relief to about 6 lakh firms amid lockdown to combat the COVID-19 crisis. Currently, the employers are required to file provident fund (PF) returns and make payment of dues simultaneously. The PF returns have details about employees’
EPFO Allows Firms to File PF Returns Without Simultaneous Payment of Dues Read More »
Instructions to Members for filing claims u/p 68 L A. Eligibility to file online claim for the purpose “Outbreak of pandemic (COVID-19)” 1. UAN should be activated 2. Verified Aadhaar should be linked with UAN 3. Bank Account with IFSC code should be seeded with UAN B. Eligible Amount Upto 75% of PF balance (Employee
To help tide over hardship caused by the coronavirus lockdown, Employees’ Provident Fund (EPF) rules will be relaxed, finance minister Nirmala Sitharaman announced today. EPF subscribers can now withdraw 75% of their PF balance or 3 month wages as a non-refundable advance, whichever is lower. This will benefit about benefit 4.8 crore employees. Experts have
EPF rules changed for getting non-refundable advance Read More »
Retirement fund body EPFO on Monday said it has issued directions for timely credit of monthly pension to over 65 lakh employees’ pension scheme (EPS) beneficiaries amid the coronavirus outbreak. The Employees’ Provident Fund Organisation (EPFO) disburses monthly pension to over 65 lakh pensioners every month under the EPS. “Due to the coronavirus pandemic, lockdown
EPFO directs field offices to timely credit pension to 65 lakh EPS beneficiaries Read More »
Employees’ Deposit Linked Insurance Scheme Rule Change 2020: Here’s good news for EPF-covered employees. The Employees’ Provident Fund Organisation (EPFO) has decided to extend the minimum assurance benefit under the Employees’ Deposit Linked Insurance (EDLI) scheme. A decision in this regard was taken in the 226th meeting of the Central Board of Trustees (CBT). Now, the
EDLI – New Rule Updated Read More »
Registration of new public, private limited companies and one person company under the Employees Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) will now be done on the website of the Ministry of Corporate Affairs instead of the Labour Ministry’s Shram Suvidha Portal at present, the Labour Ministry said Friday. “As part
Registration of new companies under EPFO, ESIC to be done on MCA portal Read More »
The Employee Provident Fund interest rate has been lowered by 0.15 per cent for the year 2019-20 to 8.50 per cent from the earlier 8.65 per cent. With the fresh development, salaried employees will get 0.15 per cent lower interest rate on their provident fund deposits. The fresh rate announced by Union Labour Minister Santosh
EPF interest rate lowered by 15 bps to 8.50 per cent for 2019-20 Read More »
What is Voluntary Provident Fund? Voluntary Provident Fund (VPF) – Voluntary Retirement Fund is the voluntary fund contribution from the employee towards his provident fund account. This contribution is beyond the 12% of contribution by an employee towards his EPF. The maximum contribution is up to 100% of his Basic Salary + Dearness Allowance + Fixed Components*. (As
VPF (Voluntary Provident Fund) Read More »
