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Source: Live Mint The Central government’s Employees Provident Fund Organisation (EPFO) has decided to likely increase the auto settlement of the advanced claim (ASAC) limit to ₹5 lakh, compared to its current levels of ₹1 lakh, reported the news agency ANI, citing people aware of the development on Monday, March 31. Sumita Dawra, Secretary of…
Source: Live Mint He was told he could withdraw the VPF anytime after a five-year lock-in period. Fast-forward to 2025, and he needed to withdraw funds to purchase a flat. To his surprise, there was no separate VPF accounting in his account. He could only see his EPF balance, and withdrawals, too, had limitations. “It…
Source: Live Mint Long queues, time-consuming documentation, rejections in requests, and constant delays, these are typically the images that come to mind when one considers taking advantage of your Employees’ Provident Fund (EPFO) corpus in India. All of this could be a thing of the past soon. Union Labour Minister Mansukh Mandaviya made the announcement…
Source: Live Mint The Employees’ Provident Fund Organization (EPFO) has revised the rules for updating the profile of the members. With the recent revision, EPF members can update their Aadhaar-linked Universal Account Numbers (UAN) with personal details without the need to upload documents. EPF members can update their profiles with personal information such as name,…
Source: Live Mint The Employees’ Provident Fund Organisation (EPFO) board on Friday retained fixed 8.25 per cent interest rates on employees’ provident fund deposits for 2024-25, reported PTI citing sources. The development is likely to dampen the spirits of EPFO subscribers who were expecting a rate hike amid rising inflation and general economic distress. The…
Source: Live Mint Some people who applied for it after the Supreme Court order in November 2022 are still waiting for the Employees’ Provident Fund Organisation (EPFO) to accept their applications. Though, according to a 26 February statement, the EPFO aims to process all applications by 31 March 2025, employees continue to question the methodology…
Source: Live Mint EPF Withdrawal: The government is considering introducing the Employees Provident Fund (EPF) claims settlement option via the United Payment Interface (UPI) to ease the fund withdrawal process. EPF withdrawal is daunting for employees, who often fail to get their savings due to claim rejections. According to the EPF annual report released in…
Source: Live Mint Portfolio management schemes (PMS) are intended to outperform the market and the investment vehicle for the public at large—mutual funds. But in the past five years, PMS have, as a set, trailed mutual funds in beating market benchmarks. PMS are offered by registered investment firms and mutual funds, with a minimum investment…
Source: Live Mint Employees Provident Fund Organisation (EPFO) has announced to extend the last date for UAN activation and aadhaar seeding in bank account of all the employees till Feb 15, 2025. This deadline has been extended multiple times. The earlier deadline was set at Jan 15 before it was extended to Feb 15 as…
Source: Live Mint The Employees’ Provident Fund Organisation (EPFO) has made a net addition of 14.63 lakh members during November 2024, the Ministry of Labour and Employment said on Tuesday, citing provisional payroll data. There has been a 9.07 per cent increase in registered net members in November compared to October, while a 4.88 per…
