Page 2 - Epfo

Unblocking inactive EPF account: What employees must do

An EPF account is deemed inoperative if there have been no contributions for 36 consecutive months

Fresh formal hirings increase in July by 2.5% to 1.05 million: EPFO data

The EPFO data is considered crucial as only the formal workforce enjoys social security benefits and is protected by labour laws

Centre to integrate EPFO, e-Shram database to track workforce formalisation

Move aims at tracking workforce formalisation in India

Now, withdraw up to Rs 1 lakh from your PF, even within 6 months of joining

If you are an EPFO contributor and there's a family emergency, you can now withdraw a higher amount

Labour ministry to launch revamped Shram Suvidha portal by year-end

The portal will leverage AI and machine learning to facilitate ease of doing business

EPFO officials meet EPS-95 NAC members to discuss pension, other demands

A delegation of pensioners' body EPS-95 National Agitation Committee on Tuesday met with senior officials of the Employees' Provident Fund Organisation to press for their long-standing demand for a minimum monthly pension of Rs 7,500. The members also demanded full medical coverage for EPS members and their spouses, EPS-95 National Agitation Committee (NAC) said in a statement. "An invitation came to us from Employees' Provident Fund Organisation (EPFO) for a meeting. The objective of the meeting was to resolve the pending demands of the pensioners," EPS-95 NAC President Ashok Raut said. The EPS-95 NAC members have been protesting to press for their demand of Rs 7,500 as monthly pension instead of an average monthly pension of only Rs 1,450 at present, he said. Raut said the pensioners have been demanding an increase in the minimum pension for the past eight years, but the government has not addressed their demands. Earlier this month, Union Minister for Labour and Employment Mans

EPFO will migrate to new IT platform in 3 months: Labour minister

Over the next few months, the implementation of the EPFO 2.01 Project will ease the processes and turnaround time for various member and employer transactions

June sees rise in female workforce participation amid 1.92 mn new EPFO jobs

Around 59.14% of new members in June 2024 were aged 18-25, reflecting an ongoing trend where the majority of individuals entering the organised workforce are young, mostly first-time job seekers

EPFO issues new rules for inoperative, inactive accounts to combat fraud

An EPF account becomes inoperative after 58 years, or 36 months, after a subscriber's retirement age of 55 years

Mega meeting on Friday to plan central database for jobs, workforce

According to the labour ministry, policy reforms across sectors and government programmes have generated employment

FM announces EPFO-Linked schemes: Boost jobs & reward first-timers employee

These schemes will be based on enrolment in the EPFO, focusing on recognizing first-time employees

Youth hirings in formal sector witness upswing in April-May: EPFO data

EPFO data says women subscribers also rose after falling last year

Formal job creation hits 10-month high with 985K new subscribers: EPFO data

Surge in young and female subscribers signals recovery in labour market

EPFO officers raise concern over inadequate IT infra, seeks intervention

Employees' Provident Fund Officers' Association has sought the Union Labour Minister's intervention to improve the information technology infrastructure of the retirement fund body. In a letter to the minister earlier this week, the EPF Officers' Association (EPFOA) said it has been regularly submitting requests for urgent interventions to upgrade the EPF IT systems software, hardware, IT manpower - which are causing acute strain on EPF manpower and adversely affecting EPFO services. The situation has now turned serious with officers and offices reporting significant system deficiencies on a daily basis, the association said. Severely inadequate EPFO IT systems and resultant service bottlenecks are adversely affecting EPF services, it added. The EPFO application software serves as the foundational component of its service delivery infrastructure. The body said it is the primary platform through which our regional offices process and adjudicate member claims. In recent times, the

EPF members now receiving FY 2023-24 interest payments: Here's how to check

Pension manager says it has settled more than 2.304 mn claims and disbursed an amount of Rs 9,260 crore

SpiceJet faces new financial crisis over unpaid provident fund dues

SpiceJet faces new financial crisis: The last provident fund deposit by SpiceJet was made in January 2022 for 11,581 employees, as revealed by a query sent to the EPFO

EPFO gross new members addition dips 4% to 10.9 mn in 2023-24: Mospi report

Retirement fund body EPFO's gross new subscribers addition declined by over 4 per cent to 1.09 crore in 2023-24 compared to a year ago, as per a report by Ministry of Statistics & Programme Implementation (MoSPI). According to the report 'Payroll Reporting in India: An Employment Perspective January to April, 2024', the Employees' Provident Fund Organisation (EPFO) recorded 1,09,93,119 gross addition of new members in 2023-24 compared to 1,14,98,453 in 2022-23. The gross addition of new members was affected due to the pandemic and declined from 1,10,40,683 in 2019-20 to 85,48,898 in 2020-21. It bounced back to 1,08,65,063 in 2021-22. The Centre as well as states had imposed lockdown restriction in 2020 and 2021 to curb the spread of deadly coronavirus in the country, which had hit economic activities as well as employment. The data shows that in the last five fiscal years till 2023-24, the gross new members addition by EFPO had not recovered to pre-covid level of 2018-19. The ...

EPF withdrawal benefits extended to members with under 6 months of service

The move is expected to benefit more than 700,000 EPS members every year who leave the scheme with less than six months of contributory service

Government employee to get more salary as EPFO discontinues GIS

EPFO scheme acts as a social welfare programme under the Ministry of Labour and Employment

Fresh formal hiring at seven-month high in April, shows EPFO data

Earlier, in Sept 2023, 950,527 fresh formal employees had joined EPF. The EPFO data is considered crucial as only the formal workforce enjoys social security benefits and is protected by labour laws