NEW DELHI : Retirement fund body EPFO has settled 56.79 lakh COVID-19 non-refundable advance claims, and has disbursed ₹14,310 crore till December 31, 2020, reflecting the adverse impact of the pandemic on the formal sector workforce. When the coronavirus-induced lockdown was imposed in March, the central government had allowed over 6 crore subscribers of the Employees’ Provident […]
At its second meeting with the officials of Union Labour Ministry and the Employees Provident Fund Organisation on the ‘Functioning of the EPFO with special reference to EPF Pension Scheme’, the Labour Standing Committee of Parliament reiterated its view that the Centre should make its stand clear on the issue of minimum pension for EPFO
EPFO Pension Should Move To Defined Contribution: Centre Read More »
Download: Guidelines The labour ministry has issued guidelines for the Atma Nirbhar Bharat Rozgar Yojana, clarifying the government will only contribute to new employees earning up to Rs 15,000 a month as defined under the Employees Provident Fund & Miscellaneous Provisions Act . The scheme was announced in November to incentivise formal job creation in the country and subsequently approved by
Labour Ministry Issues Guidelines For Atma Nirbhar Bharat Rozgar Yojana Read More »
New Delhi: Providing social security cover for over 40 crore unorganised sector workers, re-modelling existing schemes and incentivising fresh hiring will pose challenges for retirement fund body EPFO in the new year. The Employees’ Provident Fund Organisation (EPFO), which now provides social security for more than six crore formal sector workers, will have a herculean task in improving the delivery of
EPFO: Difficult Task Of Providing Social Security Cover For Informal Workers In 2021 Read More »
Bhubaneswar: Employees’ Provident Fund Organisation has added 11.55 lakh net subscribers in the month of October, 2020 as per the recently released payroll data. Despite the COVID-19 pandemic, EPFO has added around 39.33 lakh subscribers during the current financial year (from April to October, 2020). The data published comprises of members who have joined during
EPFO: Releases Provisional Payroll Data Read More »
New Delhi: Subscribers of retirement fund Employees’ Provident Fund (EPF) are likely to get the entire 8.5% declared interest rate for FY2019-20 at one go as Employees’ Provident Fund Organisation (EPFO) has been able to sell its equity holdings and earn higher-than-expected returns in December due to the market rally. EPFO has now double the surplus projected three
EPFO: Subscribers To Get 8.5% Interest For 2019-20 At One Go Read More »
Brief overview of the recent judicial decisions on labor laws rendered in the period, April, 2020 to September, 2020, by the Supreme Court and various High Courts of India. For the purposes of the instant part, we shall be covering judicial decisions rendered under the following legislations: Employee’s Compensation Act, 1923 (“Employee’s Compensation Act“); Employees’
Labor Law Cases: Half Yearly Update (April to September,2020) Read More »
NEW DELHI: Retirement fund body EPFO on Thursday dismissed media reports about a fall in the number of firms and subscribers contributing towards its social security schemes in October. The Employees’ Provident Fund Organisation (EPFO), is an statutory organisation under the Ministry of Labour and Employment. “An article was published in a section of (media) on November 18, 2020 under the caption
Establishments registered with the Employees’ Provident Fund Organisation (EPFO) fell by more than 30,800 in October from September, indicating companies may not be recovering as quickly as expected and are shedding jobs because of continued stress. While there were 534,869 contributing establishments with retirement fund manager EPFO in September, the number fell to 504,044 in
EPFO: Subscribers Of Firms Down In October 2020 Read More »
