EMPLOYEE’S PROVIDENT FUND ORGANIZATION (MINISTRY OF LABOUR & EMPLOYMENT, GOVT. OF INDIA) NATIONAL DATA CENTER 1st Floor, Bhavishya Nidhi Bhawan, Plot No. 23, Sector- 23, Dwarka, New Delhi- 110075. No. NOC/2017/UAN/Pt./2741 Date: 21.11.2017 To All Additional Central PF Commissioners (In-charge of the Zone) All Regional PF Commissioners (In-charge of the Region) Sub: Introduction of…
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 principal employers including government bodies who enroll workers directly or through contractors can view details…
A Software also Launched for Centralized Processing to Transfer and Consolidate Accounts with EaseEPFO Greets the Human Engines of Nation – Our Labour Force on International Labour Day Greeting workers on International Workers Day with the: Sh. Bandaru Dattatreya, the Union Minister for Labour & Employment (Independent Charge) launched a special Mission consolidation drive “One…
Government had issued a notification dated 10th February 2016 regarding rules for withdrawal from EPF Funds by the members. Under the revised rules, the employee was permitted to withdraw the employees’ share from the fund (which is 12% of the wages). However, it was prescribed that the employers’ share of contribution towards the Provident Fund…
The Finance Minister, in the Parliament today, announced roll-back of the budget proposal to tax contribution made into and withdrawal from Recognised Provident Fund (‘RPF’). The Government has withdrawn following budget proposal: 1. It was proposed to consider employer’s contribution to RPF in excess of INR 150,000 per annum as taxable in the…
With effect from 10 February 2016, amendment has been made to the Provident Fund Scheme placing following restrictions on the Provident Fund withdrawal: 1. An employee may claim withdrawal of the full balance on retirement after attaining the age of 58 years. 2. An employee may claim early withdrawal of the partial balance (consisting of…
he Employees’ Provident Fund Organisation (EPFO) on Tuesday announced a higher interest rate of 8.8 per cent for this fiscal (2015-16), marginally up from 8.75 per cent in the previous fiscal (2014-15). Nearly 5 crore subscribers regularly contribute to the retirement fund. Union Labour Minister Bandaru Dattatreya said the hike is an ‘interim one’ and…
While taking stock of the performance of EPFO in the month of December it has been noted that for the period April to December 2015, EPFO settled 90.6 lakh claims. Out of this 40% was settled within 3 days and close to 80% within 10 days. More than 96% of the claims were settled within…
Employees’ Provident Fund Organisation (EPFO), a Statutory Body, Ministry of Labour and Employment ranks among the world’s largest social security organizations in terms of membership and fund size. The number of accounts is around 15 crore and almost 5 crore subscribers are regularly contributing to the fund. The organization also has been settling more than 1.00 crore claims annually…
In view of the direction issued by the Government of India (the Ministry of Labour & Employment) under para 78 of the EPF Scheme, 1952, I, K.K.ialan, Central Provident Fund Commissioner, hereby issue the following directives: (a) The employer of the establishment coverable under the Act and applying for Provident Fund Code online shall submit…