Page 3 - Epfo

EPFO discontinues Covid-19 advance facility: Check details of other options

A non-refundable advance was provided to the EPF members during the outbreak of the first wave of Covid-19 and another advance in the second wave

CITU opposes govt's move to lower penal charges on defaulting employers

Earlier on Saturday, the ministry of labour and employment issued a notification that significantly lowered the penal charges applicable on employers

Provident fund nomination: How it helps your family in getting pension

Members can now update their nominations online through the EPF members' portal

EPFO: How to add nominee to EPF account online? Here's a step-by-step guide

EPFO: Only spouse, children, and parents are considered family. Siblings can be nominated only if 'no' is selected under the 'Have Family' section

SBI MF assets top Rs 10 trn; becomes first fund house to achieve milestone

Becomes first fund house to reach the benchmark

Want to change/update your PF details online: EPFO has made it easier

The EPFO has operationalised a new software functionality on its website for PF members to update/correct their profile online

Gratuity hike setback, wellness retreat: Top personal finance stories

Our top stories this week tell you about EPFO's decision and the best well retreats in the country

Widow, orphan, and more: Know about various EPFO pension scheme types

Provident fund subscribers, their families, and nominees are eligible for various types of pensions under the EPFO

Hike in gratuity amount deferred: What it means for your financial planning

Private sector and government employees must review their retirement portfolio and track EPFO's announcements

EPFO update: Now, EPF death claims can be processed without seeding Aadhaar

EPFO's field offices encounter difficulties in updating or correcting Aadhaar details after a member's death

Jump in passive fund inflows in 2024 on new launches, EPFO boost

Passive funds attract Rs 37,200 crore inflows in 2024

New formal hirings at a 34-month low in March, shows EPFO payroll data

Share of youth, women slightly increased; net payroll additions down by 7%

Retirement fund body EPFO adds 1.44 million net members in March 2024

Retirement fund body EPFO has recorded a net addition of 14.41 lakh members in March this year, according to the latest payroll data released on Monday. The payroll data highlighted that approximately 11.80 lakh members exited and subsequently rejoined the EPFO (Employees' Provident Fund Organisation), a labour ministry statement said. According to the statement, these members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, safeguarding long-term financial well-being and extending their social security protection. The EPFO's provisional payroll data released on Monday also showed that the body has added 14.41 lakh net members in March 2024, the ministry stated. The data indicates that around 7.47 lakh new members have been enrolled during March 2024. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 56.83 pe

Explained: EPF auto-settlement rules for medical, education, housing claims

To ease the life of Employees' Provident Fund (EPF) members, the EPFO has eased the rules of auto-settlement for medical claims, education, marriage and housing

EPFO introduces auto claim settlement for education, marriage, housing

Auto mode of claim settlement was introduced in April, 2020 for the purpose of advance for illness

When will EPF interest be credited for FY24? All you need to know

'Process is in the pipeline', says EPFO on social media as subscribers wait

India's fresh formal job creation slowed to three-month low in February

In what suggests some robustness, nearly 67 per cent of the total new EPF subscribers belong to the 18-28 age group, a cohort mostly comprised of new entrants to the labour market

EPFO considers higher minimum wage cap 10 years after last hike

Even the Employees' State Insurance Corporation (ESIC), which provides healthcare benefits to workers and comes under the administrative control of the labour ministry

EPFO net subscribers' addition rises over 19% to 16.5 million in FY24

Retirement fund body EPFO registered over 19 per cent growth year-on-year to 1.65 crore members in 2023-24, as per the latest payroll data, showing improvement in the employment situation in the country. "In last 6 and half years alone, more than 6.1 crore members joined the EPFO (Employees' Provident Fund Organisation) fold, indicating formalisation of the job market," a labour ministry official told PTI. The data shows that the EPFO had added 61.12 lakh net subscribers in 2018-19, which increased to 78.58 lakh in 2019-20. However, it dipped to 77.08 lakh in 2020-21, mainly due to the pandemic effect and improved again to 1.22 crore in 2021-22 and 1.38 crore in 2022-23. The official informed that the net subscribers addition by the body increased by over 19 per cent to 1.65 crore in 2023-24 compared to 1.38 crore in 2022-23. The net addition in EPFO subscriptions is an indicator of the extent of formalisation of the job market, and the coverage of social security benefits to the

EPFO raises auto withdrawal limit under 68J from Rs 50,000 to Rs 1,00,000

The limit has been increased from Rs 50,000 to Rs 1,00,000, says circular issued on April 16