Page 4 - Epfo

Universal Pension Scheme: New EPFO scheme may cover unorganised workers

If the scheme gets approved, the unorganised sector workers will put in a fixed amount with a flexibility of making voluntary payments.

EPFO likely to set up offices in Latin America, Africa soon: Report

With the new offices in other continents, the organisation is aiming to help the smaller countries in the region to develop their own social security

PMS' asset base rises 17% to Rs 25.4 trn in July, shows Sebi data

With investors looking at options beyond the traditional investment routes for higher risk-adjusted returns, assets under management of the portfolio management industry rose nearly 17 per cent in the last one year to Rs 25.4 lakh crore at July-end. Going ahead, the trend looks positive for the ongoing fiscal year with Portfolio Management Services (PMSs) getting acceptability by a wider customer segment, including retail, industry experts said. Assets Under Management (AUM) of the portfolio management industry rose to Rs 25.4 lakh crore at the end of July 2022 from Rs 21.77 lakh crore at the end of July last year, translating into a growth of 17 per cent, latest with markets regulator Securities and Exchange Board of India (Sebi) showed. The asset base was Rs 24.8 lakh crore at the end of June this year. Of the total AUM, Rs 18.6 lakh crore are contributed by funds from EPFO or PFs. As of July 2022, there were 1.45 lakh clients in the portfolio management industry, of which 1.36

Should India consider raising the retirement age?

India is preparing to face the challenges of rising elderly population. Its largest retirement fund EPFO recently backed the idea of raising the retirement age in line with western countries to deal w

EPFO calls for increasing retirement age to ease pressure on pension funds

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

Gender disparity: Harder for women to re-enter job market, shows EPFO data

Payroll data released by the National Statistical Office shows only 18.67 per cent of the persons that rejoined and re-subscribed employees' provident fund (EPF) are female

EPFO adds over a million new subscribers in June for 3rd month in a row

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

TMS Ep243: Ethical code for pharmas, EPFO, FMCG margins, moonlighting

Freebies to doctors: Why has the ethical code not been enforced? How has EPFO's equity investment experience been? Are FMCG companies eyeing better margins ahead? What is moonlighting? Answers here

How has EPFO's equity investment experience been?

From investing in traditional instruments, the Employees' Provident Fund Organisation (EPFO) has been exploring the virtues of markets for a while now. Is the statutory body's move bearing fruits now?

EPFO witnesses 43% YoY rise in net subscribers; adds 1.83 mn in June

Retirement fund body EPFO added 18.36 lakh new subscribers in June 2022, registering 43 per cent rise as compared to the year-ago period, according to an official data. The Employees' Provident Fund Organisation (EPFO) had added 12.83 lakh net new subscribers in June 2021, the data showed. The provisional payroll data of EPFO released on Saturday highlights that the organisation added 18.36 lakh net members in June 2022, a labour ministry statement said. In June this year, the net member addition increased by 9.21 per cent as compared to May 2022. Out of the total 18.36 lakh members added during the month, around 10.54 lakh new members have been covered under EPF & MP Act, 1952 for the first time. New members joining has shown a growing trend since April 2022. Approximately 7.82 lakh net members exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to transfer their funds from previous PF account to the current account instead of ...

Recovery in youth employment continues to lag worldwide: ILO report

Although the number of unemployed young people worldwide fell from 75 million in 2021 to 73 million in 2022, it is six million more than pre-pandemic levels

Difference between EPFO, EPS needs to be assessed, says Supreme Court

Pensioners informed the apex court that asking the employees to contribute 1.16 per cent for salaries above Rs 15,000 was against the Employees' Provident Funds And Miscellaneous Provisions Act, 1952

EPFO made over Rs 67,000 crore from exchange-traded funds, shows data

Annual ETF investments of nearly Rs 36,000 cr on average since 2019-20

EPFO pension scheme holders' data exposed online, says security researcher

A Ukraine-based researcher has claimed that about 288 million personal records of the EPS holders in the EPFO, were exposed online before being taken off the Internet.

EPFO launches face authentication for pensioners to submit certificates

Retirement fund body EPFO on Saturday introduced a facility to allow its over 73 lakh pensioners to submit digital life certificate using face authentication technology from anywhere. This face recognition authentication will aid aged pensioners who face difficulties in getting their bio-metrics (Finger print & Iris) captured due to old age for filing the life certificate. Union Minister of Labour and Employment Bhupender Yadav who also chairs EPFO's apex decision making body the Central Board of Trustees, launched the face authentication technology for pensioners, stated a labour ministry statement. Earlier in the day, the CBT in its 231st meeting gave in-principal approval for centralized disbursal of pension for further improving the EPFO services for pensioners. The roll out stages and modalities will be further evolved, it stated. Yadav also launched a pension and employees deposit linked insurance scheme calculator providing online facility to pensioner and family members to

EPFO in a jam: Why meaningful pension reforms are not moving ahead

Instead of reforms, in many ways, 2022 is showing signs of walk back on pension reforms

EPFO adds 1.68 mn net subscribers in May, an 83% rise YoY: Govt data

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 .

EPFO likely to enhance investment limit in equities to 20%: Report

The proposal is expected to be considered and approved during the EPFO trustees' meeting scheduled to be held on July 29 and 30, according to a source

Employees may have to wait longer for new wage code rules to kick in

The changes under the new wage code can only be implemented across the country once the centre receives draft guidelines from all the states and UTs

EPFO to soon disburse pension to over 7.3 mn pensioners in one go

EPFO will approve a proposal for setting up a central pension disbursal system on July 29 and 30, paving the way for crediting the benefit into over 7.3 million pensioners' bank accounts in one go