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Source: Live Mint The Parliamentary Standing Committee on Labour recently recommended that the government raise the minimum pension, which currently stands at ₹1,000, given by the Employee Provident Fund Organisation (EPFO) under its Employee Pension Scheme (EPS). In its report tabled in Parliament on December 16, the panel noted that over a decade has passed…
Source: Live Mint The Employee Provident Fund Organisation (EPFO) allows individuals to only have one Universal Account Number (UAN). Think of UAN as an umbrella account that can house multiple member IDs. When you switch jobs, your member ID changes but your UAN remains the same. However, in some cases, you may be allotted a…
Source: Live Mint EPFO has extended the deadline for UAN activation and seeding bank accounts with Aadhaar for availing the benefits under ELI scheme till Dec 15. Earlier the deadline was Nov 30. In the latest circular dated December 4, Employees Provident Fund Organisation has issued directions to all employers that the earlier circular stands modified….
Source: Live Mint A number of key decisions were taken in the 236th meeting of Central Board of Trustees (CBT), EPFO on Saturday. These changes relate to paying a higher interest to subscribers, Investment in InvITs and REIT, and redemption Policy for ETF investments. The meeting was headed by Mansukh Mandaviya, Union Minister for Labour…
Source: Live Mint The Employees provident Fund Organisation (EPFO) has announced that certain classes of employees do not need to seed Aadhaar for the settlement of their physical claims. Typically, EPFO subscribers should seed their UAN (Universal Account Number) to Aadhaar for settling claims; some exceptions have recently been incorporated via a circular dated November…
Source: Live Mint If you are in the process of changing your job then the Employees Provident Fund Organisation (EPFO) has an important message for you. The retirement fund body has told the employees that they do not need to apply for a new UAN (Universal Account Number) at the time of changing jobs. This…
Source: Live Mint Some people like to keep the money in their Employees’ Provident Fund untouched even after retiring to let it continue to accrue interest. However, certain rules come into play with this, involving taxes, the interest accrual period, and the duration for which the funds can remain unclaimed. Here’s how it all works….
Source: Live Mint If you have already accumulated a considerable chunk of corpus in your EPF (Employees Provident Fund) account then you can use the money for any of the purposes given in the rules. As an EPF subscriber, you are supposed to fill form 31 to be able to withdraw the money. First of…
Source: Live Mint If you are an EPF (Employees Provident Fund) subscriber and keen to check the account balance and/or the last contribution made, the process is super easy. You need to only give a missed call. The only condition is that the member’s mobile number must already be registered on the UAN portal. So,…
Source: Live Mint The Employees Provident Fund Organisation (EPFO) has issued a circular highlighting the allotment of funds for the year 2024-25 towards welfare activities of employees. The total budget for welfare activities, reads the circular, is ₹13.10 crore — out of which ₹74.37 lakh belong to the holiday homes alone. Excluding the budget for…
