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EPF News

12 Jan 2023

Pensioner's ALERT! THESE employees will get bonus pension; Check details here

03 Jan 2023

SC ruling on HIGHER PENSION: Who can apply for it? Check process to apply

The Supreme court in its order gave four more months to eligible subscribers to opt for higher pension under EPS-95. The court had also struck down the requirement in the 2014 amendments mandating employee contribution of 1.16 per cent of the salary exceeding Rs 15,000 per month. This will facilitate the subscribers to contribute higher to the scheme and get enhanced benefits accordingly.

27 Dec 2022

PF trusts of Bengal jute mills to be dismantled, workers linked to EPFO

According to IANS source, running a trustee board requires a clearance from the state Labour Minister and an annual audit of the trusts is conducted by the EPFO office. It is learnt that in the latest audit, the EPFO office have identified such irregularities in depositing provident fund contributions, and also recommended action against some of these trusts to the state Labour Department.

22 Dec 2022

EPF: Govt says THIS on implementing SC verdict on allowing higher pension

The apex court order provides that employees who were existing EPS-95 members as on September 1, 2014 can contribute up to 8.33 per cent of their actual salaries, as against 8.33 per cent of the pensionable salary capped at Rs 15,000 a month, towards pension.

07 Nov 2022

PF alert: Want to opt for increased pension? 4-month window is now open

The court on Friday struck down the requirement in the 2014 amendments mandating employee contribution of 1.16 per cent of the salary exceeding Rs 15,000 per month. This will facilitate the subscribers to contribute higher to the scheme and get enhanced benefits accordingly.

Employee Provident Fund

01 Nov 2022

EPFO Pensioners alert! Read THIS new rule on retirement money withdrawal

CBT is the highest decision-making body of the EPFO. CBT recommends govt. to make changes to the EPS-95 plan. When the retirement benefit is fixed, retirees will receive greater pensions.

21 Oct 2022

EPFO Payroll Data: EPFO adds 16.94 lakh net members in August 2022

Of the total 16.94 lakh members added during the month, around 9.87 lakh new members have come under the ambit of EPFO for the first time. Out of 9.87 lakh new members added, approximately 58.32% are from the age-group of 18-25 years of age. This age-group signifies a crucial stage for an individual’s potential in terms of earning capacity and joining organized workforce in large numbers following their education.

06 Oct 2022

EPFO Update: PF Interest money not credited in your EPF a/c? Govt says THIS

However, for quite some time now, subscribers have not got the interest money of their PF credited into their account. Responding to a tweet by T.V Mohandas Pai, former CFO and Ex-director of Infosys, the Finance Ministry has said that the delay in interest payment does not mean loss of money.

Employees Provident Fund

21 Sep 2022

Increase your take-home salary with this simple trick; check how

Employees and Employer contribute 12 per cent each to the EPF Minimum EPF deduction has been set at Rs 1800 Employees can voluntarily contribute more to the EPF

20 Sep 2022

EPFO subscribers alert! Ayushman Bharat health insurance to be made free

Preparations are being made to provide Ayushman Bharat Health Insurance coverage to all EPFO board subscribers. According to the proposal, EPFO pensioners and their life partners will be considered eligible for this scheme. EPFO subscribers will not have to pay a premium for the Ayushman scheme.

29 Aug 2022

Now, generate Direct UAN via EPFO portal –Check step by step online process

How to generate direct UAN Check EPFO online facility UAN mandatory for all employers covered under EPF

21 Jun 2022

EPFO Payroll data: EPFO adds 17.08 lakh net subscribers in the month of April

Approximately 7.85 lakh net subscribers exited & re-joined the establishments covered under EPFO by changing their jobs within the establishments covered by EPFO and opted to retain membership under the Scheme, through transfer of funds rather than coming for final withdrawal of their PF accumulations.

04 Jun 2022

EPFO to credit interest soon: Check PF balance via missed call, SMS, UMANG

Every month, each employee and the employer contribute 12% of their basic income to these PF accounts as a fixed contribution. Employees have four options for checking the balance of their EPF accounts. You can check PF balance via SMS, missed call and EPFO website.

04 Jun 2022

EPF interest rate at 40-year low! Should you opt out of EPF? Check benefits

Employees are allowed to opt out of the EPF (Provident Fund) scheme only if they meet certain criteria. However, such individuals will miss out on a slew of benefits offered by the EPFO.

03 Jun 2022

PF Update: EPF interest rate of 8.1% approved by govt; Details here

Govt approves 8.1 percent interest rate on EPF. In March last year, EPFO slashed the interest rate on employees' provident fund deposits to a four-decade low of 8.1 percent.

27 May 2022

How to generate Direct UAN via EPFO portal –Check step by step online process

How to generate direct UAN Check EPFO online facility UAN mandatory for all employers covered under EPF

25 May 2022

EPFO cites 3 big benefits of filing e-nomination, check steps to do it online

EPF members can file new nomination to change EPF nominee. You can add more than one nominee to your account.

03 May 2022

Pensionable salary limit to be hiked from Rs 15,000 to 21000?

Increase pensionable salary limit likely. No change in limit since September 2014. EPFO members reportedly in favor of the increase in pensionable salary.

18 Apr 2022

Govt likely to hike EPF pensionable salary limit from Rs 15,000 to 21000

The last amendment on the cap of pensionable salary was made in 2014 wherein the government had raised the PF salary limit from Rs 6500 to Rs 15000.

Public Provident Fund

28 Mar 2022

EPF vs Bank FD vs PPF: Here's what you need to choose

The interest rate on the Public Provident Fund (PPF) will remain at 7.10 percent for the final quarter of FY 2021-22. The Senior Citizens Savings Scheme (SCSS) will earn 7.40 percent, while post office time deposits will earn 5.5 to 6.7 percent. Sukanya Samriddhi Yojana pays an annual interest rate of 7.6%.

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