This move will offer financial security to employees who may have lost their jobs.
Browsing: EPFO
Establishments registered with EPFO will need to have a Labour Identification Number (LIN) allotted to them under the Shram Suvidha Portal to avail this scheme.
The unified mobile application for new-age governance (UMANG) appis all set to make life easier for pensioners.
As per media reports, the personal and professional details of about 2.7 crore members registered with the EPFO have been exposed to data theft.
According to the data, 1.25 million young Indians joined the workforce between September 2017 and February 2018.
The facility on the e-KYC Portal has further added a new feature to link UAN with Aadhaar online using biometric credentials.
NPS is a voluntary, defined contribution retirement savings scheme for Indian employees during their working life.
Here is the story of a brave HR professional, who stood by his people, fought against PF evasion at MW High Tech Projects India, and paid a hefty price.
EPFO advises members to refrain from withdrawing funds fully for trivial reasons
The EPFO has proposed to move towards the centralised payment system using the National Payments Corporation of India (NPCI) platform.
The PF account can be automatically transferred through Form 11.
EPFO has decided to go digital for the convenience of its lakhs of subscribers and pensioners.
Employees will no longer require to change or close their PF accounts when switching companies or jobs.
The agenda for lowering the rate of contribution from the present 12 per cent to 10 per cent was considered, in a meeting of the Central Board of Trustees (CBT) and Employees’ Provident Fund (EPF).
IWs faced a lot of problems when returning to India, in terms of higher contributions and restrictions on the withdrawal of accumulated balance.
The Central Board of Trustees (CBT) has turned down the proposal to reduce the mandatory contributions from workers and employers to 10 per cent.
In a bid to increase social security and enhance worker awareness EPFO has taken significant measures to provide more benefits to members and ease the withdrawal process.
EPFO is all set to embrace technology in a major way, enabling online withdrawal of PF funds and quicker settlement of claims.
Companies which had not earlier enrolled their employees under the EPF scheme can now do so, against payment of a minimal damage fee of Re 1 per year of default.
The proposal — likely to be approved — allows the subscribers the option of voluntary retention of EDLI membership, at a lesser rate of contribution, for three years following loss of job.
Employees can now withdraw their provident fund money without employers’ permission.