The Economic Times
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| 11 August, 2020, 03:43 PM IST | E-Paper

    EPFO updates KYC details of 73.58 lakh members in Apr-Jun

    Further, to enable KYC seeding on such large scale, the Employees Provident Fund Organisation (EPFO) has also undertaken massive exercise of rectifying the demographic details of subscribers even during the lockdown phase.

    EPFO records 3.2 lakh new accounts in May

    The net new enrolments with the EPFO had dropped to 5.7 lakh in March 2020 from 10.2 lakh in February, according to the payroll data released in May. The net new enrolments with the EPFO hover around 7 lakh every month on an average.

    AITUC seeks labour minister's intervention against alleged malafide campaign to reduce EPF interest rate

    The AITUC shot off a letter to Gangwar on July 29, after a report suggested that there were withdrawals to the tune of Rs 30,000 crore in April-June this year during the coronavirus-related lockdown.

    EPFO launches multi location claims settlement facility

    All types of online claims, i.e., provident fund, pension, partial withdrawal and claims and transfer claims can be processed under this novel initiative.

    EPFO added just 1.33 lakh net subscribers in April

    April was the first month of the nationwide lockdown imposed to prevent the spread of Covid-19 as a result of which all industries and establishments were shut down during this period, extending to May and June though it was partial in the third month.

    EPFO adds 1.39 crore subscribers in last two fiscals

    "Recently published provisional payroll data by the EPFO highlights the ever growing trend of increasing subscriber base for EPFO, since the collation of payroll data from September 2017," the Ministry of Labour & Employment said in a statement.

    EPFO cuts back on debt, equity play as lockdown hurts inflows

    The fund is estimated to have halved its investments to about 5,000 crore since May

    Pensioners can now submit life certificates at common service centres: EPFO

    In addition to CSC centers, EPS pensioners can continue to submit jeevan pramaan through 135 regional offices and 117 district offices and pension disbursing banks.

    EPFO is settling coronavirus-related withdrawal claims in three days: Here's how

    Artificial Intelligence is playing a major role in bringing down the withdrawal time from the usual requirement of 10 days.

    EPFO may slash FY20’s interest rate; payout of 8.5% unlikely as PF contributions fall

    EPFO may cut 8.5% rate declared for FY20 because of declining return on investments and cash flow.

    EPFO updated KYC data for 52.62 lakh subscribers in April, May

    This includes Aadhaar seeding for 39.97 lakh subscribers, mobile seeding (UAN activation) for 9.87 lakh subscribers and bank account seeding for 11.11 lakh subscribers, the Employees’ Provident Fund Organisation said in a statement on Wednesday.

    EPFO settles 36.02 lakh claims worth Rs 11,540 crore in April-May

    Out of this, 15.54 lakh claims, which saw disbursement of Rs 4,580 crore to claimants, were related to the recently introduced COVID-19 advance under Pradhan Mantri Garib Kalyan Yojana (PMGKY).

    EPFO to disburse restored pension from next month

    The move will benefit 6,30,000 pensioners every month, although it will cost the government Rs 1,500 crore at a time when it is facing a resource crunch due to the Covid-19 virus outbreak and the related nationwide lockdown that has hurt the economy.

    EPFO disburses Rs 868 crore of pension along with Rs 105 crore arrears for commutation

    The government, had, in February this year notified the restoration of full pension after 15 years of retirement for pensioners who have commuted part of their pension at the time of retirement.

    EPFO allows employers to register digital signatures via e-mail

    EPFO is of the view that due to lockdown, many employers are facing difficulties to send the one time registration requests to the regional offices in the existing scenario.

    EPFO withdrawals hit Rs 30,000 crore during April-July lockdown

    As much as Rs 30,000 crore has been withdrawn in under four months starting April by 8 million subscribers of the Employee Provident Fund Organisation. EPFO manages a corpus of Rs 10 lakh crore built on mandatory contributions from nearly 60 million salaried people and their employers. The huge outgo is likely to impact the fund’s earnings in FY21. Going by the current trend, EPFO expects nearly 10 million subscribers to withdraw from their savings in the coming days.EPFO withdrawals hit Rs 30,000 crore during April-July lockdown

    Net new enrollments with EPFO dip to 5.72 lakh in March from 10.21 lakh in February

    The data also showed that during September 2017-March 2020 period, the number of net new subscribers was around 1.55 crore. The net new enrollments with EPFO was 15.52 lakh during September 2017-March 2018.

    Lockdown: EPFO not charging penalty from cos for delay in payment of provident fund dues

    Earlier on April 30, the EPFO allowed employers to file monthly EPF returns without making simultaneous payment of dues, which gave a relief to about 6 lakh firms amid the lockdown.

    Advance pension amounting to Rs 764 crore under EPS disbursed in April: EPFO

    "All 135 field offices of EPFO processed pension payment for April, 2020 in advance to avoid inconvenience to pensioners on account of nation wide Covid-19 lockdown," EPFO said in a statement.

    3.31 lakh PF withdrawal claims processed in 15 days: EPFO

    Government had notified the special withdrawal provision from the EPF Scheme on March 28 to tide over the COVID-19 pandemic as part of the Pradhan Mantri Garib Kalyan Yojana (PMGKY) package.

    EPFO extends challan filing date for employers by a month to May 15

    "The employers disbursing the wages for March 2020 not only get relief of extension of due date for payment of EPF dues for March, 2020 but also avoid liability of interest and penalty, if they remit on or before May 15, 2020," EPFO added.

    UMANG app sees 180% jump in usage, 11.27 lakh claims between April and July 2020: EPFO

    In the process, EPFO has become the largest organization on UMANG accounting for more than 90% of the footfall on the app.

    Employees' PF contribution can go higher than 10%, not of employers: Labour ministry

    The ministry on Monday notified lower rates of provident fund contribution at 10 per cent, increasing the in-hand salary of 4.3 crore provident fund subscribers. Last week, Finance minister Nirmala Sitharaman had announced the reduction of statutory provident fund contribution by both employers and employees for the next three months to 10 per cent of basic wages from 12 per cent.

    Exempted PF trusts disburse over Rs 481 crore under PM Garib Kalyan Yojana

    Under the scheme, notified on March 28, members can avail non- refundable withdrawal to the extent of the basic wages and dearness allowances for three months or up to 75% of the amount standing to the member’s credit in the EPF account, whichever is less, to tide ove the financial crisis emerging out of COVID-19.

    Don't cut salaries or resort to layoffs: EPFO appeals to employers

    New Delhi: Amid the ongoing lockdown imposed to contain the transmission of coronavirus, which has forced companies to halt operations temporarily or ask employees to work from home, the retirement fund body Employees' Provident Fund Organisation (EPFO) has requested employers for neither cutting salaries of employees nor laying them off.Don't cut salaries or resort to layoffs: EPFO appeals to employers

    EPFO sets up ex-gratia death relief fund for families of employees who die due to coronavirus

    The decision has been taken in the wake of provident fund and pension services been declared as essential during the nationwide lockdown since March 23.

    EPFO withdrawals during April-July hit Rs 30,000 cr as 8 mn dig into retirement fund

    EPFO officials told ET the amount withdrawn between April and the third week of July is much more than the usual outgo seen over similar periods, and that pandemic-related job losses, salary cuts and medical expenses explain this substantial increase.

    Net enrolments with EPFO dips to 10.34 lakh in Feb from 10.71 lakh in Jan

    During the April-February period in 2019-20, the number of net new subscribers rose to 76.53 lakh compared to 61.12 lakh recorded by Employees' Provident Fund Organisation (EPFO) during the entire 2018-19.

    Coronavirus impact: EPFO asks for timely credit of monthly pension to EPS pensioners

    The Central Provident Fund Commissioner has directed the field offices of EPFO to generate and reconcile pensioners' details and pension amount statements for the current month by 25th March 2020.

    EPFO to use CSCs for life certification of pensioners

    Looking to bring service delivery closer to the doorsteps of Employees' Pension Scheme (EPS) pensioners, especially during the coronavirus pandemic, EPFO has partnered with CSC to provide facility to submit Digital Jeevan Pramaan, the labour ministry said in a statement.

    8.2 lakh workers dip into retirement savings to survive in lockdown

    Claims settlement involves disbursal of total amount of Rs 4,684.52 crore which includes Rs 2,367.65 crore COVID claims under the PMGKY package. The exempted private PF trusts have also risen to the occasion amidst the COVID-19 pandemic.

    EPFO adds 3.18 lakh new subscribers in May as former employment generation improves

    Net additions under the Employees State Insurance Corporation (ESIS) totalled 4.6 lakh compared to 2.41 lakh in April, while those under the National Pension Scheme (NPS) stood at 43,888 in May, a dip from 64,647 subscribers added under the scheme in April, the Ministry of Statistics and Programme Implementation said in its monthly report on Thursday.

    EPFO slashes interest rate on deposits to 8.5% for FY20

    Retirement fund body EPFO on Thursday lowered interest rate on provident fund deposits to 8.5 per cent for the current financial year, said Labour Minister Santosh Gangwar on Thursday. The EPFO had provided 8.65 per cent rate of interest on EPF for 2018-19 to its around six crore subscribers. The decision was taken at a meeting of the the Employees' Provident Fund Organisation's (EPFO) apex decision making body -- the Central Board of Trustee.EPFO slashes interest rate on deposits to 8.5% for FY20

    EPFO, CMPFO merger on cards

    CMPFO’s payments have started exceeding inflow since 2016-17.

    EPFO mulls rate cut on PF deposits to 8.5% for FY20

    The EPFO is considering a cut of 15 basis points in the interest rate on PF deposits in FY20 to 8.5%.

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

    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.

    EPFO records 1.33 lakh new enrolments in April

    The net new enrolments with retirement fund body EPFO recorded at 1.33 lakh during April 2020, according to its payroll data, providing an employment perspective in the formal sector impacted by COVID-19-induced lockdown. The government had imposed lockdown from March 25 to fight COVID-19 in the country.

    EPFO cuts back on debt, equity play as lockdown hurts inflows

    The fund is estimated to have halved its investments to about 5,000 crore since May

    Government to pay EPF contributions of employees and employers till Aug 2020

    The decision to extend EPF contribution will give further relief to small businesses who are facing a cash crunch. The move will benefit more than 72 lakh employees.

    Reduced EPF contribution: 16 questions answered by EPFO

    ​The reduction in EPF contribution to 10 per cent from 12 per cent was announced by Finance Minister Nirmala Sitharaman as a part of the Atmanirbhar Bharat Package to provide some relief to employers and also to increase the take-home pay of the employees.

    Formal employment in India grew by 28.6% in 2019-20: EPFO

    The top sectors which have seen over 50% increase in formalisation of workforce are hospitality and financial institutions while sectors like textiles have seen a jump of 20% as per the payroll data of the Employees’ Provident Fund Organisation, shows the payroll data of EPFO.

    EPFO eases compliance burden for companies

    As per EPFO, in the current scenario the businesses and enterprises are not able to function normally and are facing liquidity or cash crunch to pay their statutory dues even though they are retaining the employees on their rolls.

    Govt proposes to relax EPF withdrawal rules

    As per the announcement, due to pandemic situation, the government will amend Employees Provident Fund withdrawal rules and also, will pay both employer and employee contrition to the EPF account for the continuity of the account for the next three months.

    Transfer of EPF accounts: 17 questions answered by EPFO

    Here are the 17 questions and their answers for those EPF members looking to transfer their EPF accounts to new employers.

    CMPFO dismantles panel studying EPFO merger

    Late last month, CMPFO had in a letter informed that a three-member panel was formed to examine the merger following a letter from the ministry in early March. In a statement issued last week, CMPFO said that its letter, by which the panel to examine the issue of merger was constituted, has been withdrawn by the competent authority since presently there was no such proposal under consideration.

    Workers below 30 years of age saw significant job losses during lockdown: CMIE

    However, employment of young women has been most hit during the lockdown period with men to women ratio deteriorating to 9.1 during April-June 2020 from 8.4 during 2019-20, CMIE said in its weekly data citing the findings of the Consumer Pyramids Household Survey.

    Pension commutation under EPFO from Jan 1

    The move, which comes 10 years after the provision was withdrawn, follows a decision at a recent meeting of the EPFO’s central board of trustees and will benefit around 630,000 pensioners.

    PF rates slashed to 7-Year Low of 8.5%

    The proposed rate is 15 basis points lower than 8.65% announced for FY 2018-19. The finance ministry will have to vet the interest rate of 8.5% agreed upon by CBT before it is notified by the labour ministry.

    EPF interest rate lowered by 15 bps to 8.5% for FY20

    The interest rate is a big sentiment booster and any cut may further hit the employee sentiment.

    EPF withdrawal due to coronavirus: 20 questions answered by EPFO

    To help the EPF members with the withdrawal process to meet the financial emergency due to novel coronavirus, on April 26, 2020, the EPFO issued a set of FAQs. These FAQs will answer all the queries an EPF member may have related to making funds withdrawal from EPF account.

    4 lakh tap on EPFO Covid-19 window

    The Employees’ Provident Fund Organisation has received 400,000 requests for withdrawals under a special Covid-19 window announced 13 days ago to provide relief to subscribers in financial need.

    Currently there are 4.5 crore active EPFO members: Labour minister

    “The number of active members under EPFO, at present, are 4,50,60,972 (contributing UANs of last three wage months viz. August, 2019 to October, 2019)," said labour and employment minister Santosh Kumar Gangwar .

    EPFO to focus on subscribers' convenience, ease of doing business through digital tools in 2020

    Employees' Provident Fund Organisation (EPFO) is undertaking several digital initiatives including online Universal Account Number (UAN) generation facility for subscribers and e-inspection system for employers.

    Relaxation in EPF deposit rules for employers did not lead to interest loss: Here's why

    Due to on-going coronavirus pandemic, EPFO provided relief to the employers by providing relaxation in making the statutory deposit for March 2020. However, this decision would not lead to interest loss for members of the EPF scheme. Here's why.

    Lower PF contribution may be allowed for select class of workers

    A senior government official told ET that lower contribution rule under PF will not apply to all.

    10.34 lakh new enrollments in February 2020: EPFO

    However, during the April-February period in 2019-20, the number of net new subscribers rose to 76.53 lakh compared to 61.12 lakh recorded by the EPFO in entire 2018-19. The net new enrolments were 15.52 lakh during September 2017-March 2018. The latest data showed that during September 2017-February 2020, around 3.29 crore (gross) new subscribers joined the Employees' Provident Fund Scheme.

    Now workers can generate UAN from EPFO portal directly

    At present, workers are required to apply through their employers to get the universal account number (UAN), which enables them to avoid filing PF transfer claims on changing jobs. Now they do not have to depend on his or her employer for getting the UAN. The UAN remains the same throughout the life of a worker.

    No tax implications of coronavirus relief withdrawals from EPF: EPFO

    The withdrawal can also be done online. For this, one must have an activated Universal Account Number (UAN), the Aadhaar should be verified and linked with the UAN and the bank account with IFSC Code should be seeded with UAN.

    Lower TDS and TCS rates, less PF outgo for 3 months

    PF revision will benefit 43 million provident fund subscribers across EPFO and exempted establishments and 650,000 employers. It will not cover public sector enterprises and state public sector undertakings.

    EPFO eases norms for changing date of birth in records, linking UAN with Aadhaar

    As per the circular, EPF members can now correct the date of birth up to plus or minus three years instead of one year earlier. This would make the linking of Universal Account Number (UAN) with Aadhaar easier.

    EPF contribution lowered to 10% for three months; TDS, TCS rates cut by 25% till March 31, 2021

    While reduction in PF rates will give Rs 6,750 crore liquidity relief, the reduction in TDS and TCS rates for non-salaried specified payments and specified receipts will release Rs 50,000 crore liquidity into the system.

    EPFO to accept Aadhaar as birth proof online from subscribers

    EPFO has instructed field offices to expedite disposal of online requests, enabling PF members in financial distress, to apply online for availing non refundable advance from their provident fund accumulations to tide over the COVID-19 pandemic.

    12 lakh EPFO members withdraw Rs 3,360 cr retirement savings during lockdown: FM

    Earlier, on March 28, the EPFO allowed formal sector workers to withdraw a non-refundable advance from their retirement savings to deal with the hardships due to the lockdown.

    EPFO to launch e-inspection system to simplify process

    EPFO proposed to amend the Act to limit enquiry period to a maximum of two years in order to curtail harassment.

    Covid-19: EPFO urges its subscribers to avail various services online

    "In view of government of India guidelines to contain spreading of COVID-19, Employees’ Provident Fund Organization (EPFO) advises it members, pensioners and employers to avail various online services offered by EPFO, from the comfort of their homes, and to avoid visiting EPFO offices," the Employees Provident Fund Organisation said in a statement on Friday.

    EPFO approves changes in Employees' Pension Scheme to restore commutation of pension

    The move would benefit the pensioners who had opted for commutation and got a lump-sum amount at the time of retirement before 2009.

    EPFO appoints UTI AMC, SBI Mutual Fund as fund managers

    The appointment of the fund managers for another term of three years had been pending with the EPFO since April last year.

    Now, registration for EPFO, ESIC to be done on corporate ministry portal

    "As part of the ongoing efforts to improve India’s ranking in the doing business report 2021, ministry of labour and employment has completed the reform to integrate process of registration for GST, EPFO, ESIC and profession Tax for Maharashtra with company incorporation” in tandem with the MCA," labour ministry said in a statement.

    EPFO portal: How you can log in to your account

    To avail online services related to EPF, you are required to create your account on the EPFO portal. This can be created if your UAN is active. If your UAN is being activated for the 1st time, an SMS will be sent on your mobile number containing the password to login to the EPFO portal account.

    EPFO notifies new rules for stenographer's recruitment

    EPFO is seeking employment of 187 stenographers at Level 4 pay scale, to be revised for 30% of stenographers to Level 6 on completion of five years of regular service. As per the notification, the central board in consultation with the central government may relax any of the provisions of these rules with respect to any class or category of persons.

    EPFO settles 10 lakh withdrawal claims including 6 lakh COVID-19 advances in last 15 days

    A provision for withdrawal from the EPF Scheme to fight COVID-19 pandemic was announced by the government and an urgent notification issued, providing for non-refundable withdrawal to the extent of basic wages and DA for three months or up to 75 per cent of the amount standing to member's credit in the EPF account, whichever is less.

    Govt notifies 8.65% interest rate for over 6 crore EPFO members for 2018-19

    The EPFO has been settling EPF withdrawal claims at 8.55 per cent interest rate, approved for 2017-18. Now, the EPFO will settle accounts on higher rate of 8.65 per cent for 2018-19.

    Over 6 crore EPFO members will get 8.65% interest for 2018-19: Labour minister Gangwar

    Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO members will get 8.65 per cent interest on their deposits for 2018-19. The Central Board of Trustees -- the apex decision-making body of the Employees' Provident Fund Organisation (EPFO) -- had approved 8.65 per cent interest rate for the last fiscal in February this year. The proposal was sent for the concurrence of the finance ministry.Over 6 crore EPFO members will get 8.65% interest for 2018-19: Labour minister Gangwar

    Over 6 crore EPFO members to get 8.65% interest for 2018-19: Labour minister

    "...ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 per cent interest for 2018-19," said Labour Minister Santosh Gangwar.

    EPFO adds over 7.2 m accounts in 9 months

    The number of accounts added by the government-managed pension fund during April-December 2019 was higher compared with the 6,112,223 accounts added in the entire fiscal 2018-19. However, the number of new employees added in December fell marginally to 1,008,600 from 1,162,863 in November.

    Big announcement for EPFO subscribers under PM Gareeb Kalyan Scheme, govt will pay workers' PF for 3 months

    This will be applicable for establishments with up to 100 employees, where 90% of employees drawing less than Rs 15,000 salary. Benefiting 4.8 crore employees the govt also amended EPFO regulations to allow workers under EPFO to draw up to 75% of their non-refundable advance or 3 months of wages, whichever is lower.

    EPFO defers March dues payment till May 15; provides relief to 6 lakh firms, 5 crore subscribers

    This decision of Ministry of Labour and Employment is to support and provide relief to employers of establishments which have disbursed wages for March, 2020 to its employees and an incentive to employers for wage payment to employees during COVID-19 pandemic, a Labour Ministry statement said.

    20% of temporary staff may not be able to avail full benefit of PF withdrawal: Indian Staffing Federation

    The staffing federation has written to labour ministry last week asking them to re-look into the issue.

    EPFO settles 1.37 lakh PF withdrawal claims worth around Rs 280 cr to ease lockdown woes

    The system as it stands today is processing all applications which are fully KYC (know your customer) compliant within less than 72 hours.

    How to complete KYC process in your EPF account

    If your EPF account is not KYC compliant, then the EPFO can reject the request raised by you and ask you to first make your account KYC compliant.

    Covid-19 crisis: Govt implements cut in EPF contribution to 10% for May, Jun, July

    The Ministry of Labour & Employment has implemented the decision to cut employees' provident fund (EPF) contributions to 10 per cent from the existing 12 per cent for three months till July. This would increase 4.3 crore organised sector employees' take home pay and reduce the liability of 6.5 lakh employees reeling under liquidity crunch under lockdown to contain COVID-19. The decision is estimated to infuse liquidity of Rs 6,750 crore in next three months.Covid-19 crisis: Govt implements cut in EPF contribution to 10% for May, Jun, July

    EPFO says it will stick to 8.65% rate for FY19

    The finance ministry has objected to the proposal for increasing the payout for 2018-19 to 8.65% from 8.55% and sought a review. EPFO has cited adequate reserves to counter the objection.

    Govt notifies cut in EPF contribution to 10% for May, June, July

    The move comes days after Finance Minister Nirmala Sitharaman announced the reduction in EPF rates to 10% for three months as part of the government's Rs 20 lakh crore stimulus package.

    How to make EPF withdrawal claim online

    To apply for claim online, an EPF account holder should satisfy three conditions. Also as per amended EPF rules, members can now withdraw from their EPF accounts to tackle covid-led financial distress.

    Labour Ministry notifies 8.65% interest rate on EPF for 2018-19

    The EPFO has been settling EPF withdrawal claims at 8.55 per cent interest rate, approved for 2017-18. Now, the EPFO will settle accounts at a higher rate of 8.65 per cent for 2018-19.

    5 reasons for rejection of EPF withdrawal claim and how to avoid it

    Given below are five reasons why your EPF withdrawal claim can get rejected by the EPFO and what you should do to avoid the rejection of a claim.

    CBI questions IAS officers Alok Kumar, Aparna U in UPPCL provident fund scam

    The CBI today examined two IAS officers: Alok Kumar, the then Chairman of Uttar Pradesh Power Corporation Limited (UPPCL) and Aparna U, the then Managing Director of UPPCL in connection with its ongoing probe into the the over Rs 2,268 crore Employee Provident Fund scandal.

    EPFO settles Rs 7.40 lakh COVID-19 claims under PMGKY entailing an outgo of Rs 2367.65 crore

    "222 private sector establishments disbursing Rs 338.23 crores to 54,641 beneficiaries, 76 public sector establishments disbursed Rs 524.75 crores to 24,178 beneficiaries and 23 cooperative sector establishments disbursed Rs12.54 crores to 924 claimants," EPFO said in a statement.

    Low on cash due to covid lockdown? You can tap into your EPS account

    EPFO announced in March 2020 that its members can withdraw money from their Employees' Provident Fund corpus to tide over the coronavirus crisis. As of April 28, EPFO has settled a total of 12.91 lakh claims. Most employees have EPF accounts. Of these, eligible employees have Employees' Pension Scheme (EPS) accounts too, which means that their EPF corpus also has a pension component. In this video, Shambhavi Mehrotra of ET Online takes you through how and when you can withdraw from your EPS account, if you have one.Low on cash due to covid lockdown? You can tap into your EPS account

    How to update job leaving date yourself in EPFO records online

    EPFO has launched an online facility where EPF account holders can update the exit date in the records.

    EPFO recovers Rs 459 crore PF dues out of Rs 1,251 crore outstanding in 2018-19

    The total backlog or outstanding provident fund dues of EPFO during 2018-19 was Rs 791.63 crore, Labour Minister Santosh Gangwar said in a written reply to the Rajya Sabha.

    EPF withdrawal: How to check, change bank account details in your EPF account

    It is important that your correct bank account with IFSC is linked to your Universal Account Number to receive the credit of EPF funds timely.

    8.65% interest on EPF to be notified soon: Labour Minister

    In February, the Central Board of Trustees, headed by the labour minister, had decided to raise the interest rate on EPF to 8.65% for 2018-19.

    EPFO may move Supreme Court against high pension

    Officials argue that monthly contribution to EPS is too low and will not be able to sustain higher pension.

    UTI asset to also manage EPFO corpus

    The scheme is managed under the aegis of Employees' Provident Fund Organisation (EPFO).

    Rating cuts in Yes Bank add to worries of long-term bond investors including LIC and EPFO

    Long-term investors hold tier-II bonds worth more than Rs 22,000 crore in Yes Bank

    11.56 lakh new members join ESIC scheme in February

    The report said gross enrolments of new subscribers with ESIC were 1.49 crore during 2018-19. It also showed that during the period from September 2017 to February 2020, around 3.75 crore new subscribers joined the ESIC scheme.

    IL&FS defaults: EPFO board to assess impact

    Standalone PFs are estimated to have IL&FS investment in the range of Rs 15,000-20,000 crore, ET reported on January 16.

    Labour ministry drops the plan to corporatise EPFO

    The ministry’s proposal to corporatise the EPFO had faced severe criticism. In its latest draft code released in September, it had proposed a corporate structure to be headed by a CEO.

    Provident funds lend more to states in chase for better returns

    The hike in investment to state government bonds could also be on account of a flight to safety from private bonds.

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