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FM outlines details of economic package: Rs 9,250-crore liquidity boost from EPF contribution cut, waiver extension

May 14, 2020 1:14 am

“It is necessary to provide more take home salary to employees and also to give relief to employers in payment of Provident Fund dues,” said Sitharaman.

Private PF Trusts disburse Rs 481.63 crore to 40,826 staff as non-refundable advance

April 21, 2020 12:51 am

Exempted establishments have exemption from filing EPF returns with the EPFO and manage their employees EPF account as well as funds.

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

April 10, 2020 5:44 pm

According to the statement, remittances have already started taking place. EPFO has settled these claims in the past 10 days.

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PPF, senior citizens savings see deep cut in interest rates

April 01, 2020 7:28 am

The interest rate for Senior Citizens Savings Scheme has been slashed to 7.4 per cent from 8.6 per cent, while that for National Savings Certificate has been cut to 6.8 per cent from 7.9 per cent.

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

September 17, 2019 4:59 pm

Provident Fund (EPFO) Interest Rate 2018-19: The Central Board of Trustees (CBT) of the EPFO in February recommended hiking the interest rate for its 6-crore active subscribers to 8.65 per cent for 2018-19 from a five-year low of 8.55 per cent.

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Net payroll addition at EPFO up 43 per cent June

August 22, 2019 3:28 am

The Employees’ State Insurance Corporation (ESIC) reported a 5.3 per cent decline in net addition in June, compared with the previous month.

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Provident Fund interest rate is up; is this the best instrument for small savings?

February 21, 2019 11:10 pm

Provident Fund interest rate hike: The Central Board of Trustees' proposal will now go to the Finance Ministry for approval. The interest rate is credited into the accounts of subscribers after it receives the concurrence of the Finance Ministry.

Parliamentary panel seeks strong norms for exemption to PF trusts

July 24, 2018 8:16 pm

The 31-member committee headed by Lok Sabha member Kirit Somaiya found that as many as 118 establishments had a total corpus of less than Rs 1 crore and the last return filed by them dates back to 2014 and 2015.

Idle accounts clean-up, cross verification hold up interest credit for FY18

Don’t deny pensions for lack of Aadhaar, EPFO tells banks

April 11, 2018 2:20 am

In cases when neither iris nor fingerprint authentication works, the EPFO has asked banks to record the beneficiaries’ details in an ‘exception register’ and the pension must be provided based on the paper life certificate.

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Maharashtra ranks second in PF defaulters in 2015-16

June 04, 2016 2:42 am

The Financial Express reported in March that the Employees Provident Fund Organisation (EPFO) could attach properties and seize bank accounts of the Vijay Mallya-promoted firm.

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EPF rollback: Trade unions protest in Bengaluru

April 19, 2016 10:41 pm

Under pressure from protesting trade unions, the Centre has cancelled a notification that tightened rules for the withdrawal of Employees’ Provident Fund (EPF) accumulations till the age of 58.