EPF Updates & Cases

EPFO Allows Firms to File PF Returns Without Simultaneous Payment of Dues

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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’ […]

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PF Advance Withdrawal – file online claim for the purpose “Outbreak of pandemic (COVID-19)”

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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

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EPF rules changed for getting non-refundable advance

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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

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EPFO directs field offices to timely credit pension to 65 lakh EPS beneficiaries

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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

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Registration of new companies under EPFO, ESIC to be done on MCA portal

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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

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EPF interest rate lowered by 15 bps to 8.50 per cent for 2019-20

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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 »

6.3 lakh pensioners to benefit from restoration of pension commutation by Labour Ministry

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The labour ministry has implemented retirement fund body EPFO’s decision to restore pension commutation under the Employees’ Pension Scheme, a move that will benefit 6.3 lakh pensioners. Pension commutation refers to part-withdrawal of fund in advance by a subscriber, who then gets reduced pension amount for 15 years. With the ministry’s latest decision, such pensioners would receive

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