Fixing Minimum Pension by EPFO The recommendations of the Pension Implementations of the Committee (PIC) of the Employees’ Provident Fund Organisation to increase the minimum pension amount to Rs. 1,000/- per month for its subscribers is to be placed before the Central Board of Trustees, Employees Provident Fund {CBT(EPF)} in its ensuing meeting for...
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Minimum monthly pension for members of EPF could soon increase to Rs 1,000
The embattled UPA government is set to give a bonanza to 60 million workers in the organised sector. The minimum monthly pension for members of the Employees’ Provident Fund (EPF) could soon increase to Rs 1,000. Currently, most EPF pensioners receive less than Rs 500 a month, but for some it is as low...
Hike rate of return on GPF, panel advises govt
A Parliamentary panel today asked the Central government to increase the rate of return on provident fund for its employees in the light of rising bank rates and EPFO’s decision to hike its rate to 9.5% for 2010-11. "The rate of interest on General Provident Fund (GPF) which is pegged at 8% may be...
Splitting of Minimum Wages for the purpose of PF contribution not permissible.
No.: Coord/4(6)2003/Clarification/Vol-II/ Dated: 23-05-2011 Sub: Splitting of Minimum Wages for the purpose of PF contribution not permissible. Sir, Attention of all concerned is invited towards this office circular no. Coord./4(6)2003/Clarification/13633 dated 06.06.2008 vide which it was advised to ensure that P.F. Contributions on at least Minimum Wages are remitted by the establishments. It was...
EPFO to seek legal view on nationwide implementation: HC
EPFO to seek legal view on nationwide implementation: HC Retirement fund manager EPFO will seek the legal opinion on implementation of the order of the MP High Court throughout the country under which employers and employees will be required to increase their contributions to the provident fund. "We will seek legal opinion and...
ATTENTION EMPLOYERS EXEMPTED UNDER SECTION 17(2A) OF THE EPF & MP ACT,1952 UNDER EDLI SCHEME 1976
ATTENTION EMPLOYERS EXEMPTED UNDER SECTION 17(2A) OF THE EPF & MP ACT,1952 UNDER EDLI SCHEME 1976 The Govt. of India. Ministry of Labour & Employment vide Notification No.GSR 9 (E) dated 08.0 1.2011 has amended the EDLI Scheme, 1976 as fòllows: In the Employees’Deposit Linked Insurance Scheme.1976, in paragraph 22, after sub-paragraph(2), the following...
195th Meeting of the Central Board of Trustees of EPFO Appoints 4 Fund Managers:
195th Meeting of the Central Board of Trustees of EPFO Appoints 4 Fund Managers: State Bank of India, Reliance Capital Asset Management, HSBC Asset Management (India) Pvt. Ltd. and ICICI Securities Primary Dealership Ltd. To Manage EPF Corpus; Performance to be Reviewed After One Year The 195th meeting of the Central Board of...
EPF Balance now updates through SMS
Know Your EPF Balance (Service launched on 01/07/2011) Please click on the following link to know the balance in your EPF Account upto the date, the accounts are updated, which also includes the latest approved transactions of settlement/advances/transfer-in/transfer-out, if any. Select the EPFO office where your account is maintained and furnish your PF Account...
EPFO facilitates online filing of returns
The Times of India-News The Employees Provident Fund Organisation (EPFO) that has taken steps for total computerisation to improve subscribers and employers, has developed e-return software in order to simplify the filing of various returns by employers. The tool and the user manual, guidelines for filing e-return are available at the EPFO website www.epfindia.gov.in,...
Employee Provident Fund (EPF) : Retire as a Crorepati
We normally hate any kind of deductions in our monthly salary slips – either its income tax deduction , professional tax deduction or even an EPF deduction.Very few of us really know that this small EPF deduction each year can in reality make you a crorepati by the time you retire. Encouraging fact is...
