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The Latest Breaking News from EPFO

Higher pension | EPFO likely to give employers extension to validate joint forms

EPFO likely to extend deadline for employers to validate joint options for higher PF pension by 3 months. Employers cite technical delays and issues accessing employment details of applicants. Union Labour Ministry considering requests and likely to take lenient view

The Hindu

Pre-2014 retirees may move court against validity of EPFO circulars

Pre-2014 retirees exploring legal challenge to EPFO's December 2022 and January 2023 circulars, which impose "unrealistic" stipulations, rendering them ineligible for higher pension. SC dismissed clarification apps, contempt and review petitions pertaining to Nov 2022 judgment. Challenge to circulars requires writ petitions before HCs/SC.

The Hindu

Data | The contours of India’s ‘formal jobs’ crisis

The Indian government has been using the Employees Provident Fund (EPF) scheme’s data as a measure of payroll employment and formal job creation since 2017. The monthly data released from this initiative has generally shown an increase in the number of contributors, which is portrayed as evidence of employment creation…

The Hindu

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EPFO’s IT system collapsing, software causing wastage of time: officers send SOS to Centre

Warning that any delays in procuring new servers and hardware will cost the EPFO and its members “dearly”, the EPF Officers’ Association (EPFOA) has pointed out that they maintain over 25 crore employees’ PF accounts, with a massive corpus of ₹21 lakh crore.

The Hindu

Union government approves 8.15% interest rate for PF deposits

The CBT had recommended an increase to 8.15% from 8.10% interest to the deposits on March 28, 2023. Read more on The Hindu.

The Hindu

Govt ratifies 8.15 pc interest rate on Employees Provident Fund for 2022-23

The order came after the Finance Ministry’s concurrence to the EPF rate of interest approved by EPFO trustees earlier in March this year. Read further on Dynamite News:

Dynamite News

Regional Committee of Employees Provident Fund Organisation conducts meeting

EPFO Regional Committee in Chennai discussed issues to improve performance, address grievances, increase coverage, and curb evasion. Pankaj, Additional Central P.F. Commissioner, announced appointment of nodal officer to monitor grievances and 200 letters issued to employers to bring uncovered contractor employers in fold.

The Hindu

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Keep it simple: On opting for higher pension

With the spirit of the Supreme Court judgment being to provide a better social security net, the Union Ministry and the EPFO should help simplify the process of applying for higher pension

The Hindu

Morning Digest | Amit Shah says Centre will ensure execution of SoO pact with Kuki groups in Manipur; EPFO extends deadline to apply for higher pension till July 11, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

EPFO extends deadline to apply for higher pension till July 11

The Employees’ Provident Fund Organisation (EPFO) has extended the deadline for members to apply for higher Provident Fund pension till July 11.

The Hindu

CBI arrests EPFO official for allegedly receiving Rs 12 lakh bribe

“The Central Bureau of Investigation (CBI) has arrested an enforcement officer of the Employees’ Provident Fund Organisation (EPFO) while he was allegedly taking ₹12-lakh bribe for settling the penalty against a hospital manager,” officials said on June 13.

The Hindu

Delhi High Court directs EPFO to investigate journalist’s plea on Statesman withholding PF dues

The Delhi High Court last week issued an order directing the Employee Provident Fund Organisation to take note of a former Statesman journalist’s complaint about not receiving his provident fund.

Newslaundry

EPFO enrolment data shows over 14 lakh jobs were added in Tamil Nadu’s formal sector in FY 2022-23

EPFO enrolment data shows over 14 lakh jobs were added in Tamil Nadu’s formal sector in FY 2022-23. The maximum addition was seen in the age group of 18-21, where 3,7,6872 jobs were created. Segments such as manufacturing, electronics and real estate had done well in the State

The Hindu

Higher pension: EPFO directs offices to calculate dues with interest

The EPFO had recently extended the date for submitting joint options with employers for availing higher pension till June 26

The Hindu

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The Hindu

Additional contribution of 1.16% for higher pension to be drawn from employers' payout

Additional contribution of 1.16% of basic wages for subscribers opting for higher pension will be managed from employers’ contributions to social security schemes run by retirement fund body Employees’ Provident Fund Organisation (EPFO.)

The Hindu

Give an opportunity to pre-2014 retirees to avail of higher PF pensions: Kerala MP

Kerala MP John Brittas, in a letter to Union Labour Minister Bhupender Yadav said the Supreme Court’s November 2022 judgement “does not negate the right of higher pension” for pre-2014 retirees; he also said the online portal for those who wished to avail themselves of higher PF pension was riddled…

The Hindu

Government extends date to opt for higher EPF pension to June 26

The Centre has extended the time to submit joint options to claim higher provident fund pension till June 26. The deadline to submit the applications was on May 3.

The Hindu

Extend deadline by 6 months for online submission of consent for higher PF pension: Kerala MP

With the period stipulated by the EPFO expiring on May 3, 2023 for sections of employees and pensioners to exercise joint option along with their employers for higher PF pension, the demand has been made by John Brittas, MP from Kerala, for extending the deadline by six months.

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The Hindu

Morning Digest | Explosive device planted a day or two before Dantewada attack; ties depend on peace on border: Rajnath to China, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

Regional PF officers given one month to examine joint options for higher pension

The Employees’ Provident Fund Organisation (EPFO) has released yet another circular on implementing the Supreme Court order on higher PF pension.

The Times of India

EPFO fixes 8.15% interest rate on employees' provident fund for 2022-23

NEW DELHI: The retirement fund body EPFO-Employees' Provident Fund Organization- has fixed 8.15% interest rate on employees' provident fund for 2022-23.

The Times of India

Those with less than 6 months to retire can withdraw EPS-95 amount, says EPFO

NEW DELHI: The Employees Pension Fund Organisation on Monday decided to allow withdrawal of accumulations in Employees’ Pension Scheme 1995 (EPS-95) for subscribers who have less than six months of service left.

The Times of India

EPFO adds 16.94 lakh net subscribers in August

NEW DELHI: Retirement fund body EPFO net added 16.94 lakh new subscribers in August 2022, registering a 14.4 per cent rise as compared to the year-ago period, according to official data.

The Times of India

No loss of interest for EPF subscribers: Finance ministry

NEW DELHI: The finance ministry has said there is no loss of interest rate for EPFO subscribers and the delay in crediting interest for the last fiscal is due to software upgrade being conducted.

The Hindu

ESIC scheme adds 15.72 lakh new members in July: Report by National Statistical Office

According to the report, net new enrollments with retirement fund body EPFO stood at 18.23 lakh in July 2022.

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