EPFO payroll data: EPFO adds 15.29 lakh net subscribers during the month of January, 2022 The provisional payroll data of EPFO has been released today, i.e., 20th March 2022, which highlights that EPFO has added 15.29 lakh net subscribers during January 2022. Month-on-month comparison of payroll data also indicates an increase of 2.69 lakh net subscribers addition in January, 2022 as compared to the net additions during the previous month of December, 2021. Of the ..
The Central Board recommends 8.10% rate of interest to its subscribers for the year 2021-22 The 230th meeting of Central Board of Trustees, EPF was held today during the AKAM Iconic Week in Guwahati under the Chairmanship of Shri Bhupendra Yadav, Union Minister for Labour & Employment and Environment, Forest & Climate Change, Vice-Chairmanship of Shri RameshwarTeli, Union Minister of State for Labour & Employment, Petroleum & Natural Gas and Co-Chairmanship of Shri Sunil ..
EPFO Payroll data: 14.60 lakh net subscribers added during the month of December, 2021 The provisional payroll data of EPFO released on 20th February 2022 highlights that EPFO has added 14.60 lakh net subscribers during December 2021. Comparison shows an increase of around 2.06 lakh in net payroll additions in December 2021 as compared to 12.54 lakh net subscribers added during the corresponding month previous year. For the month of December 2021, the net subscriber addition has increase..
EPF is the main scheme, under which retirement benefits are accumulated, launched under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 and which is managed under the aegis of Employees' Provident Fund Organisation (EPFO). 1. Applicability: EPF covers every establishment in which 20 or more people are employed and certain organisations are covered, subject to certain conditions and exemptions even if they employ less than 20 persons each. 2. Under EPF scheme, ..
Employee having valid UAN, need to make sure that his or her date of birth (DOB) details are true and correct in Employees’ Provident Fund (EPF) records and also similar as mentioned in the Aadhaar database. In case of mismatch, the UAN holder may face delay in EPF withdrawal claims. According to EPFO EPF members can update the date of Birth online by submitting Aadhaar or e-Aadhaar on the Unified Member Portal if the difference in DOB is less than 3 years. If the difference is ..
The government has notified the amendment in EPF scheme rules regarding withdrawal of funds from the EPF account to deal with coronavirus-related financial exigencies. The government had allowed employees to withdraw from their provident fund account in case they needed emergency funds due to financial stress caused by the covid-19 pandemic. According to the amended rules, Under the provision, a member of the Employees’ Provident Fund Organisation (EPFO) can withdraw up to 75% of his/he..
EPFO members should file e-nomination for EPS to provide Social Security to their families. The scheme is provided by the Employees’ Provident Fund Organisation (EPFO) and ensures that employees receive a pension once they attain the age of 58 years old. Latest Update EPFOin a tweet has said that the account holders will be able to add nominees through the e-nomination facility even after 31 December as well. (There is no due date as earlier it was 31.12.2021) According to EFPO, o..
First-time job seekers, joining organized sector workforce in large numbers, contributing more than 47% of total net subscriber additions in September The provisional payroll data of EPFO released today highlights that EPFO has added around 15.41 lakh net subscribers during the month of September 2021. For the month of September 2021, the net subscriber additions have increased by 1.81 lakh as compared to the previous month of August 2021 when it was 13.60 lakh. Out of the total 15.41 lakh..
Nearly 50% of total net subscriber additions in August are fresh Job seekers The provisional payroll data of EPFO released on 20th October, 2021 highlights that EPFO has added around 14.81 lakh net subscribers during the month of August, 2021. The data reflects a growing trend in net payroll for the first five months of the current financial year. For the month of August 2021, the net subscriber addition has increased by 12.61% as compared to the previous month of July, 2021. ..
The provisional payroll data of EPFO published on 20th September, 2021 reveals that EPFO has added around 14.65 lakh net subscribers during July, 2021. The data highlights a growing trend in net payroll additions for last four months. For the month of July 2021, the net subscriber addition has increased by 31.28% as compared to the previous month of June 2021 when the total additions were 11.16 lakh. Of the total 14.65 lakh net subscribers, around 9.02 lakh new members have come under the soc..
Employees' Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued Instructions for transfer online EPF during this Pandemic situation (COVID-19)". Members with authenticated Aadhaar and Bank details seeded against their UAN can now submit their PF Withdrawal/Settlement/Transfer claims online. The deadline for linking the EPA account to the Aadhaar card has been extended. Subscribers can now link their UAN to Aadhaar by Dece..
Employees' Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued Instructions for transfer online EPF during this Pandemic situation (COVID-19)" If you do not link your EPF account to Aadhaar by 31st December 2021, the contribution from the company can be stopped. The deadline for linking the EPA account to the Aadhaar card has been extended. Subscribers can now link their UAN to Aadhaar by December 31, 2021. Earlier, its..
Nearly 48 percent of total net additions in the age group of 18-25 years The provisional payroll data of EPFO(Employees’ Provident Funds Organization) released on 20th August, 2021, highlights a growing trend with 12.83 lakh net payroll additions during the month of June, 2021. With respect to payroll data, the impact of second wave of COVID-19 pandemic waned during June 2021, leading to tremendous growth in net payroll additions as compared to April and May 2021. Month-on-mon..
The provisional payroll data of EPFO published on 20th July, 2021 highlights that EPFO has added around 9.20 lakh net subscribers during the month of May, 2021. Despite crisis of second wave of Covid19 across the country, EPFO has been able to make a cumulative subscribers base of 20.20 lakh in the first two months of the current financial year. Payroll data indicates that the impact of second wave of Covid19 pandemic on payroll addition is not as severe a..
Employees' Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued and launches an electronic facility for PRINCIPAL EMPLOYERS to view EPF compliances of their contractors. EPFO has introduced a facility for interlinking of Principal Employers with respective contract employers for effective compliance. Principal Employer In a factory, the owner or occupier or manager is considered a principal employer; but in an establishme..
EPFO payroll data: 12.76 lakh net subscribers added during April, 2021 The provisional payroll data of EPFO published on 20th June, 2021 highlights that EPFO has added around 12.76 lakh net subscribers during April, 2021. Despite the second wave of COVID-19 pandemic, April 2021 registered an increase of 13.73% net subscribers addition as compared to the previous month during which around 11.22 lakh net subscribers were added to the payroll. Data reflects that the number of exit..
The Labour ministry issued press release dated 31-5-2021 to allow withdrawal of advance. The brief details are as under- 1. EPFO allows its members to avail second COVID-19 advance. This Decision was taken in view of second wave of Covid-19 pandemic The labour ministry has announced that EPF members can now avail a second non-refundable advance from their EPF accounts in order to meet the coronavirus related financial emergencies. Earlier, only a one-time advance was available for EPF memb..
Decision taken in view of second wave of Covid19 pandemic To support its subscribers during the second wave of COVID-19 pandemic, EPFO has now allowed its members to avail second non-refundable COVID-19 advance. The provision for special withdrawal to meet the financial need of members during pandemic was introduced in March 2020, under Pradhan Mantri Garib Kalyan Yojana (PMGKY). An amendment to this effect was made by Ministry of Labour & Employment in Employees’ Provident Funds Sc..
Labour Ministry announces major social security relief to dependents of workers passing away due to COVID-19 The Ministry of Labour and Employment has announced additional benefits for workers through ESIC and EPFO schemes to address the fear and anxiety of workers about well-being of their family members due to increase in incidences of death due to COVID -19 pandemic. Enhanced social security is sought to be provided to the workers without any additional cost to the employer. Currently f..
Total 77.08 lakh net subscribers added under EPFO during FY 2020-21 The provisional payroll data of EPFO has been published on 20th May, 2021 highlights that EPFO has added around 11.22 lakh net subscribers in the month of March, 2021. Despite Covid-19 pandemic, cumulative net payroll addition for FY 2021 is almost at par with last year, with 77.08 lakh net additions to subscribers base. Quarterly analysis of payroll for the FY 2020-21 indicates that net subscribers addition improved consi..