Online Transfer of Provident Fund
A revised transfer claim settlement process has been started through an Online Transfer Claim Portal to smoothen the process of transfer of PF accounts. The revised process has following features:- (i) The claim can be submitted by the member in the online mode in addition to physical mode. (ii) The claim can be submitted through… Read More
Tags: Business, Central Provident Fund, Digital signature, Employee Provident Fund, Employees' Provident Fund Organisation of India, Job Growth, Online and offline, Online Transfer Claim Portal
Achievements of EPFO During August 2013
During the current fiscal, till the month the Organisation settled more than 50 lakh claims out of which 97% was settled within 30 days as mandated by the scheme. In the month of August alone, 10.98 lakh claims were settled and the percentage of claims settled within the above said mandated time-limit was 98.90%. Importantly,… Read More
Tags: Central Provident Fund, Digital signature, Employee Provident Fund, Employees' Provident Fund Organisation of India, India, Organisation, Organization, Social Security
EPFO shows much better improvement
The number of contributing members to Employee Provident Fund Organisation (EPFO) has crossed 4.00 crore as on 17.08.2013. Similarly, number of establishments covered under EPF & MP Act, who are contributing and filing their return through electronic system has increased to 4 lakh. EPFO also distributed pension to more than 44 lakh pensioners during July,… Read More
Tags: Central Provident Fund, Digital signature, Employee Provident Fund, Employees' Provident Fund Organisation of India, Employment, EPF, EPFO, July 2013
Data of Members under EPFO on Web Facility
Employees™ Provident Fund Organisation (EPFO) has date of birth details for more than 4 crore members out of a total members of 8.87 crore as on 01.08.2013. Web facility has been provided to the Employers to upload the date of birth details of all employees. Further, Field Offices of EPFO have been directed to ask… Read More
Tags: Employee Provident Fund, Employees' Provident Fund Organisation of India, EPF, EPFO, ESIC, Insurance, Lok Sabha, Passbook
EPFO to give Priority to timely Settlement of Claims for Provident Fund
Union Labour & Employment Minister Shri Sis Ram Ola has emphasized that the Employee Provident Fund Organization (EPFO) must give priority to timely settlement of claims for provident fund. In a meeting with the senior officers of EPFO the minister has also emphasized that due to improvement and availability of technology, the citizen rightly expects… Read More
Tags: Bharuch, Employee Provident Fund, Employees' Provident Fund Organisation of India, EPFO, Gurgaon, Human settlement, Noida, Surat
Revised Online Transfer Claim Form For EPFO
Union Labour & Employment Minister Shri Sis Ram Ola today released Revised Transfer Claim form for EPFO beneficiaries marking this as first step towards launch of online Transfer Claim facilities here in New Delhi. The revised form will have the following salient features: ¢ The form will be called Transfer Claim Form instead of Form 13… Read More
Tags: Employee Provident Fund, Employees' Provident Fund Organisation of India, Employment, EPFO, Hon, Ministry of Labour & Employment, New Delhi, Union Labour
CLR Important | Employees Provident Fund Organization proposes radical changes in Provident Fund Coverage
The Employees Provident Fund Organization(EPFO) readying to re-notify a new definition of "compensation" that will include all allowances. Currently, employers contribute only 12% of the basic salary and dearness allowance, which in fact is not paid by most companies currently, towards their share of "matching" provident fund and the Employees Pension Scheme contribution. Hence, for several thousands of employees,… Read More
Tags: Business, Dearness Allowance, Employee Provident Fund, Employees' Provident Fund Organisation of India, Employment, EPFO, Salary, Tax credit
MoF declares 8.5% interest on PF deposits
The Ministry of Finance has approved payment of 8.5% rate interest for 2012-13, up from 8.25% in the previous fiscal. The related circular is provided here. ***** Employees™ Provident Fund Organisation (Ministry of Labour & Employment, Govt. Of India) ( Head Office) Bhavishya Nidhi Bhawan,14-Bhikaiji Cama Place, New Delhi-110066 No. Invest.I/3(2)/133/ ROI/2012-13/4462, Dated: 15.05.2013 Subject: Declaration of Rate of Interest for… Read More
Tags: Central Government, Employee Provident Fund, Employees' Provident Fund Organisation of India, Employment, Government of India, India, Ministry of Labour & Employment, New Delhi
Govt initiatives for providing details to PF Account Holders
There are no dormant accounts in Employees™ Provident Fund Organisation (EPFO). However, as per provision of para 72(6) of the Employees™ Provident Funds (EPF) Scheme, 1952, a member™s account under certain condition is classified as Inoperative Account. All such Inoperative Accounts have a definite claimant. As per Para 73(1) of the EPF Scheme, 1952, a… Read More
Tags: Employee Provident Fund, Employees' Provident Fund Organisation of India, Employment, EPF, EPFO, Inoperative Account, Provident Fund Organisation, Rajya Sabha
Functioning of Employees™ Provident Fund
As on 31.03.2012, the total members of Employees™ Provident Fund are 8.55 crore and pensioners under Employees™ Pensions Scheme are 41.03 Lakh. The present composition of Central Board of Trustees (CBT), Employees™ Provident Fund (EPF) is Annexed. The composition of the CBT, EPF is as per Section 5A of the Employees™ Provident Fund & Miscellaneous Provisions Act, 1952. As… Read More
Tags: Board of directors, Cabinet of India, CBT, Central Government, Employee Provident Fund, Employees' Provident Fund Organisation of India, EPF, Government of India
Subscribe to the Daily Journal
India’s Leading Compliance Software
Corporate Law Referencer
