EPFO Services

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

Union Labour Minister Bhupender Yadav on Tuesday said retirement fund body EPFO's coverage will be expanded to 10 crore subscribers from the existing level of 6.5 crore. At a function to mark the 70th foundation day of the Employees Provident Fund Organization (EPFO), Yadav said, "EPFO social security schemes ambit will be expanded. It will be increased from 6.5 crore subscribers to 10 crore." He also launched the EPFO Vision 2047 document. According to him, it is the biggest responsibility of the EPFO to reduce its litigations and increase the coverage. "We have subsumed 29 labour laws into four broad codes. These codes provide for expansion of social security schemes, including EPFO," the minister said. This rationalisation and simplification of laws will minimize litigations and bring in ease of doing business. The minister expressed happiness over the way EPFO has grown in the years gone by and the way it is managing its huge corpus of savings of the members. As per a statem

Decision to extend pension scheme beyond 35 years of service taken in 232nd CBT meet on Monday; withdrawal benefits available even to those who've contributed for less than six months

Any EPF pensioner can get the PPO number using either the bank account number or PF number

The unemployment rate shot up to 8.3 per cent, which was the highest, compared with the rates in the past 12 months

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

EPFO said it is moving more from forceful compliance to voluntary compliance. And, in the future, it will be fully governed by technology

New EPF subscribers increased marginally to 10,54,261 in June from 10,07,441 in May 2022 and 10,09,689 in April, according to data published by the National Statistical Office

Retirement fund body EPFO added 16.82 lakh new subscribers in May 2022, nearly 83 per cent more than 9.2 lakh enrolled in the year-ago month, according to official data. The provisional payroll data of EPFO released on Wednesday showed an increase of 7.62 lakh net subscribers in May 2022 as compared to the net subscription in the month of May 2021 last year, the labour ministry said in a statement. The EPFO had added 9.2 lakh net new subscribers in May 2021, it said. Out of the total 16.82 lakh subscribers added during May 2022, around 9.60 lakh new members have been covered under the ambit of EPF & MP Act, 1952 for the first time. Approximately 7.21 lakh net subscribers exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to continue their membership under the EPF Scheme, by transferring their funds instead of applying for final PF withdrawal, it stated. The new enrolment during the month is higher than the monthly average recorded .

Specified industries such as construction, plantation also given time till December 31

The enrolments provide a perspective on the formal sector employment amid the coronavirus pandemic

Retirement fund body EPFO on Thursday started crediting 8.5 per cent rate of interest on employees' provident fund (EPF) for 2019-20 for its over six crore members, a senior official said. A large number of members of the Employees Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent rate of interest for 2019-20, a senior official told PTI. The official further informed that the labour ministry has already sent the direction to credit the 8.5 per cent interest on EPF for 2019-20 to the EPFO and the body has already started crediting interest into members account for the last fiscal. Labour Minster Santosh Gangwar said, "We had said that it would be our endeavour to provide 8.5 per cent rate of interest on EPF for 2019-20. We have issued a notification to provide 8.5 per cent rate of interest on EPF for 2019-20. We have also began the process to credit the said rate of interest into subscribers account." The minister also sai

This compared to 0.73 million (7.39 lakh) in the same month last year

Organisation is considering crediting interest rate in a staggered manner with the remaining 0.35% to be paid in December 2020

EPS pensioners are required to submit their life certificates each year to continue to draw pension

Uncertainty around the outcome of the ongoing Covid-19 pandemic and their impact on business is weighing on a number of businesses

At present, workers are required to apply through their employers to get the universal account number (UAN), which enables them to avoid filing PF transfer claims on changing jobs

According to the latest data released on Friday the new members enrolment in May is the highest so far in last eight month

The EPFO has a corpus of over Rs 10 lakh crore