Employees' Provident Fund Organisation

However, the option to avail higher pension by the existing employees is still open till May 3

The EPFO has added 16.26 lakh net members in the month of November 2022. The data indicates an increase of 25.67 per cent net additions compared to the previous month in October 2022

Retirement fund body EPFO added 16.26 lakh subscribers on a net basis in November 2022, which is 16.5 per cent higher compared to a year ago, the labour ministry said on Friday. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Friday by the ministry highlighted that the EPFO has added 16.26 lakh net members in the month of November 2022. The data indicate a 25.67 per cent increase in net additions compared to the previous month in October 2022, a labour ministry statement said. Of the total 16.26 lakh members added during the month, around 8.99 lakh new members came under the ambit of EPFO for the first time thus, showing that new members joining EPFO has increased by 1.71 lakh, from 7.28 lakh in October 2022. Among the new members, the highest enrolment is registered in the age-group of 18-21 years with 2.77 lakh members, followed by age-group of 22-25 years with 2.32 lakh members. The age group of 18-25 years constitutes 56.60 per cent of

While Deloitte, the process advisor to RCap's administrator, is said to be rooting for liquidation, CoC advisor KPMG hopes to close deal and award the firm to highest bidder

Overall PMS assets have been on the rise amid buoyant markets

The ceiling was last revised in 2014 from Rs 6,500 per month to Rs 15,000 and is applicable only to enterprises that have more than 20 workers

At present, EPFO is allowed to invest between 5-15 per cent of its investible deposits in equity instruments irrespective of the age or risk profile of its members

The approved law firms will be empanelled with the EPFO headquarters in New Delhi for an initial period of one year, which can be extended to three years

Though fresh additions slip sequentially in July, women enrolment at a record high

The EPFO has almost 60 million subscribers and it has a cumulative pension and provident fund corpus of more than Rs 12 trillion

The current EPF interest rate is 8.1%

The EPFO should increase transparency

But be ready for lock-in till the age of 60, volatility, mandatory annuitisation

Stormy Monsoon Session of Parliament comes to an end, eight days earlier

To support employers for availing benefits under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), a special WhatsApp service has been provided for immediate education and assistance

About nine states proposed to increase the working hours from eight to twelve by diluting the labour laws, but later rolled back the decision after facing flak from various stakeholders

The EPFO said that companies are facing liquidity or cash crunch in paying their mandatory provident fund dues "even though they are retaining the employees on their rolls"

The government has so far transferred Rs 31,235 crore directly to either the bank account or employees' provident fund of 331.4 million people from the vulnerable sections of society

Companies may look to terminate the contract of workers 'on the pretext' of the Covid-19 or may force their employees to go on leave without pay

EPFO was offering subscribers an interest of 8.65% in 2018-19