EPFO
The EPFO is one of the world's largest social security organisations in terms of clientele and the volume of financial transactions undertaken. According to the EPFO website, at present it maintains 24.77 crore accounts (Annual Report 2019-20) pertaining to its members. The Employees' Provident Funds & Miscellaneous Provisions Act, 1952 and Schemes framed are administered by a tri-partite Board known as the Central Board of Trustees, Employees' Provident Fund, consisting of representatives of Government (Both Central and State), Employers, and Employees.
The Central Board of Trustees administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India – namely EPF Scheme 1952, Pension Scheme 1995 (EPS) and Insurance Scheme 1976 (EDLI). The EPFO’s Central Board of Trustees after consultation with the Ministry of Finance reviews the interest rate of EPF every year, for a financial year.
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EPFO
EPFO stands for Employees’ Provident Fund Organisation. It is a retirement fund body which on a mandatory basis provides Universal Social Security Coverage to all salaried employees in India.The EPFO is one of the world's largest social security organisations in terms of clientele and the volume of financial transactions undertaken. According to the EPFO website, at present it maintains 24.77 crore accounts (Annual Report 2019-20) pertaining to its members. The Employees' Provident Funds & Miscellaneous Provisions Act, 1952 and Schemes framed are administered by a tri-partite Board known as the Central Board of Trustees, Employees' Provident Fund, consisting of representatives of Government (Both Central and State), Employers, and Employees.The Central Board of Trustees administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India – namely EPF Scheme 1952, Pension Scheme 1995 (EPS) and Insurance Scheme 1976 (EDLI). The EPFO’s Central Board of Trustees after consultation with the Ministry of Finance reviews the interest rate of EPF every year, for a financial year.
UPSC EPFO 2025 recruitment begins for 230 vacancies; Check applications process, last date, syllabus, exam pattern, eligibility
UPSC EPFO Recruitment 2025: The UPSC has initiated the recruitment process for 230 positions in the EPFO, including Enforcement Officer/Accounts Officer and Assistant Provident Fund Commissioner roles at upsconline.nic.in. Online applications are accepted from July 29 to August 18, 2025. Candidates with a Bachelor’s degree are eligible, and selection involves a written test and interview, with pay scales as per the 7th Pay Commission.
EPFO orders audit of applications for higher pension; exempted units in focus
The Employees' Provident Fund Organisation (EPFO) will audit pension applications related to higher wages, prioritizing exempted establishments, to ensure compliance with the Supreme Court's 2022 directive. This internal audit, prompted by the labour ministry, aims to verify the proper disposal of applications and will be completed by September 30.
EPF withdrawal claim: Do you need to submit any documents while withdrawing money from your EPF account?
Many EPF members are confused whether they are required to submit any documentary evidence while submitting an EPF withdrawal claim to the EPFO. The government has provided the answer to this query in the current parliament session.
UPSC EPFO Recruitment 2025: Apply now for enforcement officer and PF commissioner posts
UPSC EPFO Recruitment 2025 Application Begins: The UPSC has commenced the online application process for EPFO recruitment 2025, offering 56 Enforcement Officer/Accounts Officer and 74 Assistant Provident Fund Commissioner positions. Eligible candidates with a bachelor's degree can apply until August 18, 2025, through the official website. Selection involves a Combined Recruitment Test and an interview, with job responsibilities spanning enforcement, accounts, administration, and pension-related tasks.
First-time job seekers benefit most by PMVBRY: Provident fund official
Salil Sankar, Regional PF Commissioner I, EPFO, highlighted that PMVBRY significantly aids first-time job seekers by addressing employers' concerns about initial low productivity. The scheme offers incentives, ranging from wage percentages to fixed amounts, for employers hiring new employees. Pavan Jasti, Regional Commissioner-II, EPFO, emphasized the streamlined process for both employers and employees, ensuring easy scheme adoption.
EPFO's net payroll addition in May 2025 at record high of 20.06 lakh
The EPFO witnessed a record addition of 20.06 lakh net members in May 2025, marking the highest since April 2018, driven by 9.42 lakh new employees. The 18-25 age group dominated new subscriptions, while rejoining members also showed a significant increase. Female subscribers and specific industries like expert services contributed to this substantial growth in formal employment.
EPFO adds record 2.01 million net formal jobs in May
As per the provisional payroll data, released by the ministry of labour and employment on Monday, this is the highest recorded addition since payroll data tracking began in April 2018. Month-on-month the net formal jobs went up by 5.23% compared to 1.91 million added in April 2025, it said.
Employment Linked Incentive: Earn Rs 15,000 through ELI Scheme-But there is a catch
On July 1, 2025, the Union government approved the ELI Scheme, which aims to support employment generation, enhance employability and social security across all sectors, with a particular emphasis on the manufacturing sector
Tired of EPF passbook site errors? This govt app can help; here's how
Even if the main EPFO website is down, you can still access many EPFO services, such as viewing passbooks and raising and tracking claims through the UMANG (Unified Mobile Application for New-age Governance) app from your mobile phone. Through the UMAG app, EPF members can access several services of EPFO, including passbook viewing and claim status checks.
Govt to roll out employment-linked incentive scheme from August 1
The Labour Ministry announces the PM Viksit Bharat Rozgar Yojana will begin August 1, 2025. The scheme aims to create over 3.5 crore jobs. It focuses on first-time employees and incentivizes employers. First-timers get EPF wage support. Employers receive incentives for new hires. The scheme targets job creation across sectors, especially manufacturing. Payments will be made through direct benefit transfer.
Eligibility criteria for life cover under EPFO scheme eased
The labour ministry has eased eligibility norms under the EDLI scheme. Now, families of deceased employees will receive a minimum assurance benefit of ₹50,000, even if the employee’s PF balance was below that amount. Service gaps of up to 60 days will be treated as continuous employment, and employees dying within six months of their last PF contribution will remain eligible.
Will minimum EPS-95 pension be hiked this festive season? Govt responds in Parliament
Indian pensioners are eagerly awaiting a potential increase to the minimum monthly pension under the Employees' Pension Scheme (EPS-95). Currently at Rs. 1,000, trade unions and public representatives have long advocated for a raise. While the government acknowledges these requests and provides budgetary support to maintain the existing minimum, it cites an actuarial deficit in the fund.
Labour ministry notifies minimum assurance benefit criteria for EDLI subscribers
The labour ministry has relaxed criteria for the Employees’ Deposit Linked Insurance (EDLI) scheme, ensuring a minimum assurance benefit of Rs 50,000 for beneficiary families, even with a lower average provident fund balance. Gaps of up to sixty days between employment spells will be ignored for eligibility.
Short-term valuation headwinds? Yes. Long-term growth potential intact? Yes. Which ‘Yes’ is more relevant?
What is “financialization of savings”? Well, it is the trend of shifting savings from traditional, physical assets like real estate or gold to financial assets like stocks, mutual funds, or bonds. It is a trend that is only catching on in India, compared to developed economies where it is the norm. How do we say it is a growing trend? Because there is clear historical evidence of this. And there is no doubt that, on an absolute basis, the total number of investors trading in the Indian markets will be higher two years from now. Also, given the corrections and volatility we have seen of late, this participation may well take the safer MF route.
EPF withdrawals made easier for PF members but this impacts your retirement corpus
Recent relaxations in EPF withdrawals allowed easy liquidity to cash-starved members, but it is advisable to resist this temptation and not compromise on retirement readiness.
Your EPF account to get 8.25% interest credit this week: 4 ways to check provident fund interest credit, balance
The EPFO will finalize crediting 8.25% interest for 2024-2025 into members' accounts this week. Labour Minister Mansukh Mandaviya stated that interest has already been credited to 32.39 crore member accounts.
Centre asks states to link their employment-oriented schemes with the objectives of ELI
In a virtual meeting with labour and industry minister of states to gauge their preparedness for the roll-out of the Employment-Linked Incentive (ELI) scheme from August 1, labour and employment minister Mansukh Mandaviya also urging them to actively promote the ELI scheme, saying ELI scheme represents the second step after the Production Linked Incentive (PLI) scheme in the direction of building an Atmanirbhar Bharat.
EPFO credits interest for 2024-25 in 323.9 million member accounts
The process has now been optimized for faster processing due to which the entire exercise has mostly been completed in June itself, labour and employment minister Mansukh Mandaviya said on Tuesday.
Regulatory overload: MSMEs face Rs 13 lakh yearly compliance costs, over 1,000 regulations and high jail risk, says report
TeamLease Regtech’s latest report highlights that a single manufacturing unit of an MSME is required to adhere to 998 unique obligations, totalling over 1,450 obligations each year.
Has PM Modi launched an investment scheme offering daily profit of Rs 1.25 lakh? Here is what govt says
Artificial intelligence and media manipulation have led to the production of videos that appear remarkably realistic. Scammers use these strategies to take advantage of people's faith in public leaders and governmental organisations.
Fool-proof mechanism in place to implement employment linked incentive scheme: Labour Ministry
The Labour Ministry has devised a digital mechanism for the Rs 1.07-lakh crore Employment Linked Incentive (ELI) scheme, aiming to generate 3.5 crore jobs in two years. Implemented through EPFO, the scheme learns from ABRY's shortcomings, ensuring direct benefit transfers to employees and employers.
Employment-linked incentive scheme: Who will benefit?
The Union Cabinet has approved the employment-linked incentive scheme (ELI) with an outlay of Rs 99,446 crore, effective August 1st. New employees earning up to Rs 1 lakh per month will receive incentives up to Rs 15,000, while employers can get up to Rs 3,000 per month for two years per additional employee.
Trade unions, farmer bodies to go on general strike on Wed; may disrupt banking, other services
A nationwide strike is expected to disrupt essential services. Over 25 crore workers will protest new labor codes and privatization. Banking, postal, and insurance sectors may face closures. Unions demand higher minimum wages and the old pension scheme. Farmer organizations support the strike, raising concerns about MSP and loan waivers.
India may soon have social security agreement with UK under free trade pact
India and the UK have finalized a free trade agreement that includes a social security pact, ensuring employees on foreign assignments avoid double social security contributions. This agreement, a reciprocal arrangement, allows employees to get full pension benefits while employers are spared from making double payments. India plans to include such social security agreements in all future FTA negotiations.
Largecaps offer safety as mid- and smallcap rallies look overstretched: Nitin Bhasin
Nitin Bhasin of Ambit suggests Indian markets are navigating a landscape of rich valuations and strong flows despite modest earnings growth expectations for FY26, particularly with downgrades in BFSI and healthcare. He points to tariffs as a key directional factor, advising investors to reduce underweight positions in IT and be cautious on banks, favoring large caps amidst market volatility.
Late, missing PF contributions by employer today could prevent your PF withdrawal, transfer later: Here’s how to track your EPF properly
Your Employee Provident Fund withdrawals can face rejection due to discrepancies in contributions and employment records cause issues. Missing or delayed payments by employers create problems for employees. Hence, employees should regularly monitor their EPF accounts, and must report discrepancies to employers and the EPFO. You can track your EPF contributions through UMANG app.
Has EPFO announced a new form for pensioners to be submitted by July 28? Here's what the government says
A viral message falsely claimed that EPFO pensioners must submit a new form by July 28, 2025, or face pension suspension. PIB Fact Check confirmed this is fake news. New EPS rules starting January 1, 2025, will allow pensioners to access their pension from any bank branch across India.
India pushes for social security pacts in all FTAs
India and the US are in talks for a social security agreement. This could be part of a larger trade deal. Such agreements may become standard in future trade negotiations. Labour Ministry sources confirm this move. A recent meeting discussed the matter. India aims to include these agreements in all FTAs. This benefits Indian professionals working abroad.
Over 3 crore jobs coming soon: Cabinet approves ELI scheme with an outlay of Rs 99,446 cr
The Union Cabinet has approved the Employment Linked Incentive (ELI) Scheme with an outlay of Rs. 99446 crore, aiming to generate over 3.5 crore jobs. This scheme incentivizes first-time employees and supports sustained employment, particularly in the manufacturing sector, by providing wage support and incentives to employers for creating additional jobs.
New Employment Linked Incentive Scheme from August 1, 2025, to give one month's EPF wage: Who is eligible and how much money they can get
The newly introduced schemes showcase the government's focus on employment generation. The schemes will be applicable for jobs created between August 1, 2025, and July 31, 2027, across all sectors, with a substantial budget allocation of Rs 99,446 crore dedicated to incentivizing both employees and employers.
General Provident Fund (GPF) interest rate for July-September 2025 announced for these central govt employees
The Ministry of Finance has maintained the interest rate for the General Provident Fund (GPF) and related schemes for the July-September 2025 quarter.
Cabinet approves employment-linked incentive (ELI) and research development and innovation (RDI) schemes
The two mega schemes will cost around Rs 2 lakh crore and aimed at enhancing formal job creation and enhanced private sector participation in research and development. Other key decisions include upgradation of 46.7 km national highway in Tamil Nadu on hybrid annuity model and the National Sports Policy 2025.
EPFO member may soon be able to withdraw EPF money through ATMs, UPI directly
Employees' Provident Fund Organisation subscribers might soon access their EPF money directly. They can use ATMs or UPI after linking bank accounts. The labour ministry is working on this project. A portion of the EPF will be frozen. A large part will be available for withdrawal. The EPFO is resolving software challenges.
EPFO raises advance claim limit under auto settlement mode to Rs 5 lakh
The move is expected to benefit over 70 million subscribers of the Employees’ Provident Fund Organisation who will not get up to Rs 5 lakh of advance claims as against Rs 1 lakh earlier within three days without any human intervention, ensuring quick turnaround and transparency. The move is aimed at enhancing ease of living for EPFO subscribers, the ministry of labour and employment said on Tuesday.
A landmark day: PM Modi after Cabinet's nod to Khelo Bharat Niti
The government approved the Khelo Bharat Niti to boost sports. This policy focuses on excellence and economic development. A Research Development and Innovation scheme with a large corpus was also approved. An Employment Linked Incentive scheme aims to create jobs. Highway construction in Tamil Nadu received a nod. These initiatives signal a strong push for growth and development in India.
Aadhaar Card update 2025: Check UIDAI's list of documents for enrolment, update; know how Indian nationals, OCI, children above 5 years, Long Term Visa holders, foreign nationals can apply
The Unique Identification Authority of India, UIDAI, provides a detailed list of documents. Residents can use these documents for Aadhaar updates or enrollment. This applies to individuals, Hindu Undivided Families, and Overseas Citizens of India. UIDAI also announced a rule addressing multiple Aadhaar numbers issued to one person. The earliest Aadhaar with biometric data will be retained.
EPFO increases auto-settlement limit for EPF advance claims from Rs 1 lakh to Rs 5 lakhs: Mansukh Mandaviya
EPF auto-claim limit increased: The Union Minister for Labour & Employment has announced the increase in auto-settlement limit for advance claims from EPF to Rs 5 lakh from Rs 1 lakh earlier. This auto-advance limit covers illness, education, housing etc.
Cabinet approves ₹2 lk cr package for jobs, R&D, sports policy and highway project
The Union Cabinet, led by Prime Minister Narendra Modi, has given the green light to several significant initiatives. A substantial investment will be made in research and development. This aims to boost domestic manufacturing and technological advancement. An Employment Linked Incentive scheme is set to generate numerous jobs. The Khelo Bharat Niti 2025 will revamp the sports sector.
EPFO adds 19.14 lakh net members in April 2025
In April 2025, EPFO added 19.14 lakh members, a 31.31% increase from March, signaling rising employment. New subscribers, especially those aged 18-25, significantly contributed to this growth. Around 15.77 lakh previously exited members rejoined, opting to transfer their funds. Female subscribers also saw a notable increase, reflecting a more inclusive workforce. Maharashtra led state-wise additions, comprising 21.
Formal job creation under EPFO up 1.2% in April at 1.9 million: Payroll data
The Employees’ Provident Fund Organisation saw a 1.17% increase in net formal job creation in April, reaching 1.91 million. New subscriber enrollment dipped slightly compared to April 2024, but increased from March 2025, with young adults dominating new additions.
Railway fee hike, train tatkal booking with Aadhaar OTP, credit card changes, ATM charges: Six money changes from July 2025
July 2025 brings financial and service changes impacting bank customers, train travelers, and EPF members. Axis Bank and ICICI Bank are revising ATM fees and service charges. Indian Railways mandates Aadhaar authentication for online Tatkal bookings, with stricter OTP verification rolling out mid-month. The government will also announce new interest rates for small savings schemes.
How to merge multiple PF accounts?
Salaried employees often end up with multiple Provident Fund (PF) accounts due to job changes over the course of their careers. Since each new employer creates a separate PF account, it becomes essential to consolidate them into a single account.
EPFO cautions members against taking help from agents for online services
The EPFO cautions members against using third-party agents for services, advising them to utilize the free online portal to protect their financial data. The organization has streamlined processes like KYC updates and claim submissions, removing employer approvals in many cases.
EPF: Do you need to upload documents on EPFO portal to update your date of joining and leaving a job?
The Employees' Provident Fund Organisation has streamlined the process for EPF members to update their employment history, including joining and exit dates. Members with Aadhaar-validated UANs can now directly update profile details without document uploads.
'Your PF is with CBI now': Mumbai man loses Rs 1.4 crore after falling for 18-month scam involving fake CBI, EPFO officials
A 73-year-old former state government employee from Andheri was swindled out of Rs 1.4 crore by cyber fraudsters posing as EPFO officials. The scam began with a call about pending PF dues, leading to a series of payments over 18 months.
EPF 3.0: Withdraw PF by swiping from ATMs
Swift and hassle-free withdrawal of provident fund money could be revolutionary. Paradoxically, the current time-consuming and tedious process of submitting claims to take out money, and getting approvals, inherently acts as a disincentive or a deterrent for EPF members from making frequent and early withdrawals.
UP's GCC policy push to turn state into office hub, create 2 lakh jobs
Uttar Pradesh's new GCC policy aims to establish the state as a prominent office space hub, generating over 2 lakh high-paying jobs in five years. The policy offers substantial subsidies on land costs, capital investments, and stamp duty exemptions, incentivizing job creation and technological innovation.
Deadline to activate UAN for EPFO's ELI Scheme extended again; Check new last date, how to activate your UAN and avail benefits
Employees can activate their UAN through the EPFO portal using an Aadhaar-based OTP. This activation is mandatory to claim monetary benefits under the ELI scheme announced in the Union Budget 2024.
EPF withdrawals via ATM, instant UPI as EPFO 3.0 likely to roll out in June 2025
The EPFO is set to revolutionize PF withdrawals by June 2025, enabling instant access via UPI and ATMs, pending NPCI approval. This initiative, supported by the Ministry of Labour and Employment, will allow members to check balances and transfer funds seamlessly.
New stats register soon to help gauge business outlook
The government is set to launch a Statistical Business Register (SBR) to compile data on businesses at the district and state levels. This initiative by the Ministry of Statistics and Programme Implementation (MoSPI) aims to improve business surveys and market analysis.
EPFO 3.0 roll out, free Aadhaar update, Form 16 for ITR filing: 7 money changes in June 2025; check details here
June 2025 brings significant financial changes, including the EPFO 3.0 launch for simplified PF withdrawals and revised credit card policies from HDFC, Axis, and Kotak Mahindra Bank. Taxpayers should note the TDS certificate deadline, while individuals have until June 14 to update Aadhaar details for free.
Finance Ministry OKs 8.25% EPF interest rate
The government has approved an 8.25% interest rate on Employees' Provident Fund (EPF) deposits for FY 2024-25, benefiting over 70 million subscribers. The labour ministry has instructed EPFO to credit the interest, unchanged from FY24, after finance ministry approval. EPF offers high, stable returns and tax benefits, making it an attractive investment for salaried individuals.
Govt ratifies interest rate of 8.25% on employees' provident fund for FY25
The central government has approved an 8.25% interest rate for Employees' Provident Fund deposits for fiscal year 2024-25. This benefits over 7 crore subscribers. The rate matches last year's, supported by strong income. EPFO also saw a surge in auto-claims settlements. You can check your EPF balance easily. Use the UMANG app, EPFO portal, or a missed call.
To address overlapping service period issue in PF transfer, EPFO simplifies rules for account transfer from old to new employer
The Employees' Provident Fund Organisation (EPFO) has introduced measures to streamline transfer claim processing, addressing issues of overlapping service periods that previously led to automatic rejections.
Not a hard and fast rule, but using this ratio increases probability of getting it right: 7 stocks with an upside potential of up to 26%
How do you value a stock? Which has a high valuation, and which is cheap? It all depends on the ratio you use to ascertain value. Consider this example: Twelve years back, the stock of an MNC FMCG company was quoting at a PE multiple of 44. At that time, the Nifty’s PE was at 25. Since then, the market capitalization of the stock has grown 10 times and its PE ratio today stands at 65. On the other hand, there was a construction company quoting at a PE multiple less than 15 around the same time, but its market capitalization today is half of what it was 12 years ago. See how relying solely on the PE ratio creates hurdles in the way of wealth creation?
EPFO onboards 14.58 lakh net members during March 2025
The Employees' Provident Fund Organisation saw a rise in new members in March. EPFO added over fourteen lakh new members. Most new subscribers are between eighteen and twenty-five years old. Many previously exited members rejoined EPFO. Female subscribers also increased. Maharashtra leads in net payroll addition among states. These numbers reflect growing employment and awareness of employee benefits.
EPF changes in 2025: New form to transfer EPF account, instant UAN activation, other announcements made by EPFO that you need to know
EPFO has recently announced several important updates aimed at making Provident Fund (PF) operations more efficient, transparent, and user-friendly.
Net formal jobs under EPFO up 1.1% at 1.45 million in March: Payroll data
The Employees’ Provident Fund Organisation witnessed a 1.15% increase in net formal job creation in March 2025, reaching 1.45 million. New subscriber enrollment grew by 2.03% compared to February 2025, with the 18-25 age group constituting a significant portion of new members. Rejoining members also saw an 11.8% increase, indicating a trend of continued social security protection.
8.25% interest rate on EPF balance for FY 2024-25 got final nod from Govt: Check how it will impact your EPF balance
8.25% interest rate for EPF for FY 2024-25: The Central Government has approved an 8.25% interest rate for FY 2024-25, which ended on March 31, 2025. As the government has approved this interest rate, it will impact the EPF balance of the EPF account holders. Read on to know how much interest you will get and when EPF interest will be credited to your account.
Govt to promote these employees day before retirement: Will their pension increase?
The Ministry of Home Affairs will grant honorary ranks, one level higher. This initiative, led by Prime Minister Modi, aims to boost morale and self-respect without financial benefits.
Saturday bank holiday: Are banks open or closed today, May 31, 2025?
Confusion often arises regarding bank holidays, particularly concerning the fifth Saturday of a month. According to RBI guidelines, banks operate on the first, third, and fifth Saturdays unless a public holiday intervenes. Digital banking options like Net Banking and UPI provide continuous access to financial services, even during holidays.
EPFO to fast-track applications seeking pension on higher wages
The EPFO is set to expedite the processing of higher wage pension applications, aiming for disbursement by year-end. To manage the workload, the organization will dedicate regional offices, deploy additional staff, and prioritize unexempted establishments. While 1.
Process review likely for firms surrendering EPFO exemption
The Labour Ministry plans to revise rules for employers surrendering EPFO exemptions. This aims to protect workers' interests and speed up the process. A committee will review procedures to ensure transparency and prevent fraud. The goal is faster processing of applications. This will help EPFO gain more subscribers. Mansukh Mandaviya directed a review of standard operating procedures.
BJP highlights economic strength, benefits of Ujjwala Yojana
The BJP highlighted the success of the Pradhan Mantri Ujjwala Yojana, noting over 10 crore LPG connections and sustained usage, countering opposition claims. Beneficiaries include 1.85 crore in Uttar Pradesh, 1.23 crore in West Bengal and 1.16 crore in Bihar. Moody's report indicates India's economic resilience to US tariffs due to strong domestic growth and government initiatives. EPFO reported 7.
Delayed EPF interest? Will you be at loss if EPF interest credit is delayed?
If the annual interest credit is delayed, many EPF subscribers may become apprehensive if they will lose the opportunity to earn compound interest on accrued interest due to this delay. Members can conveniently check their EPF balance through the UMANG app, EPFO portal, SMS, or missed calls.
Record formal job creation likely in 2024-25, but fewer new employers join EPFO
India anticipates a record high in formal job creation for fiscal year 2024-25. This suggests strong hiring driven by robust economic growth. Preliminary data from the Employees' Provident Fund Organisation indicates a surge in net formal jobs. The cumulative figure is expected to surpass previous records. However, new establishments joining the EPFO may be among the lowest since 2018-19.
EPFO 3.0 rollout soon, subscribers can withdraw funds from ATMs: Mansukh Mandaviya
Union Labour Minister Mansukh Mandaviya announced that the EPFO will launch its 'EPFO 3.0 version' soon. This upgrade allows subscribers to withdraw funds from ATMs, making the system equivalent to banking. Users can handle their transactions without visiting EPFO offices.
EPFO adds 16.10 lakh net members in Feb
Employees' Provident Fund Organisation saw a rise in net members in February. The increase was almost four percent compared to last year. Around seven lakh new subscribers enrolled with EPFO. Most new members were young, first-time job seekers. Many previously exited members also rejoined EPFO. Female subscribers also increased, showing a more diverse workforce.
EPFO launches WhatsApp helpline service
This initiative will allow the PF subscribers to interact directly with EPFO's regional offices on a personalised level adhering to one-to-one guidance principle. WhatsApp helpline is now functional in all the 138 regional offices of EPFO.
EPFO settles 11.94 lakh claims in June this year
In June, as much as Rs 6,497 crore was received by EPFO as contribution by subscribers towards social security schemes run by it.
Changes in EPF website: EPFO updates Form 13 to ease PF account transfer process, to show taxable PF
Employees Provident Fund Organisation has made some changes. A new version of Form 13 simplifies PF transfers. The EPF website now clearly shows taxable and non-taxable PF interest. These changes will help over 1.25 crore members.
EPFO 3.0 launch soon: Faster claims, ATM withdrawals & more
The EPFO is launching Version 3.0 by June to benefit over 9 crore users with ATM withdrawals and faster claim processing, according to Union Minister Mansukh Mandaviya. This digital overhaul aims to simplify services, eliminating complex forms and physical visits. The new system will enable OTP-verified account updates and easy fund monitoring.
Private sector PF trusts increasingly surrendering exempted establishment status under EPFO
Private sector provident fund trusts are increasingly surrendering their exempted status to EPFO, with 17 establishments applying in FY24. This shift is driven by EPFO's higher returns, increased management costs for trusts, and the growing size of establishments making trust management more complex. Over the past two years, 27 establishments surrendered their exemption, adding 30,000 employees and ₹1,688.
EPFO weighs exit policy to maximise returns on investments
The EPFO has no exit policy at present as it largely invests in government securities that have a definite maturity window.
Now EPFO members having UAN can link Aadhaar online
Meeting the know your customers (KYC) norms by the Employees' Provident Fund Organisation (EPFO) subscribers help them access a host of online services.
EPFO to launch Aadhar-linked withdrawal, pension services by March 2017
EPFO will launch a host of Aadhaar-linked online services such as PF withdrawal and pension fixation for its 4 crore subscribers by the end of this fiscal.
EPFO, world's ninth largest by assets, not considering any proposal to invest in stock markets
"We are not considering any proposal to invest in stock markets or equity at present," EPFO Central Provident Fund Commissioner K K Jalan said.
EPFO employees can now shift from National Pension System (NPS) to Unified Pension Scheme (UPS)
The 112th meeting of the executive committee (EC) of the central board of trustees, EPF under labour and employment secretary Sumita Dawra on Tuesday formally adopted the unified pension scheme (UPS) for EPFO employees. The UPS is expected to ensure financial security post-retirement, offering a minimum guaranteed pension along with additional benefits such as family pension provisions and dearness relief adjustments, the ministry of labour and employment said in a statement issued on Wednesday.
Boon for 4.5 crore subscribers: EPFO may give option to raise equity exposure
Proposal to raise the equity component, if it goes through, will fetch higher returns for EPFO subscribers in the current declining interest rate regime.
EPFO set for brand makeover, to get a tagline and a brand ambassador
EPFO will soon get a tagline to brand itself and this is likely to be followed by a brand ambassador who would be the face of the organisation.
Time for EPFO to shift to NAV based accounting
The best time to convert to NAV-based scheme is now. On a conservative estimate, the unrealised gains must be in the range of 20- 30%. And if shifted to NAV-based system, the holding value of EPFO should jump up by 20%- 30%.
EPFO planning housing scheme for members: Labour Minister
Retirement fund body EPFO is considering a scheme for its subscribers so that they are able to own a house by retirement, Labour Minister Bandaru Dattatreya said.
EPFO likely to extend the deadline for higher EPS pension by three months: Sources
Employees were facing many issues while applying for higher pension due to a lack of clarity on various rules and delayed clarification from EPFO made it difficult for large number of employees to exercise their hard-earned option to apply for higher pension from Employees' Pension Scheme (EPS). Here are some reasons why extension is needed.
EPFO simplifies procedures related to fund transfer and personal detail corrections: Mansukh Mandaviya
Labour and Employment Minister Mansukh Mandaviya on Saturday said the Employees’ Provident Fund Organisation has streamlined and fast-tracked the process for transfer of provident fund dues from one organisation to another and simplified the joint declaration process for correction in personal information of its subscribers. The two procedural reforms will benefit over 65 million EPFO subscribers.
EPFO ties up with 5 banks to collect PF dues
The tie-ups with Bank of Baroda, ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank will help EPFO save around Rs 125 crore a year.
EPFO likely to enhance investment limit in equities to 20 per cent
The proposal to revise the limit to 20 per cent has been vetted and approved by the Employees' Provident Fund Organisation's advisory body Finance Audit and Investment Committee (FAIC). The recommendation of FAIC will be placed before the EPFO apex decision making body -- Central Board of Trustees (CBT) -- for consideration and approval.
EPFO cannot invest funds in equities: Labour Ministry
The Labour Ministry has relaxed investment norms for EPFO, but refrained from allowing it to invest part of its Rs 5 lakh crore in equity markets.
UPS benefits announced for these retired govt employees and their spouses: Know how to claim UPS benefits, deadline to apply
The Central Government introduces the Unified Pension Scheme (UPS) under the National Pension System (NPS) starting April 1, 2025, offering assured payouts to eligible retirees and their spouses. This scheme provides a one-time lumpsum, monthly top-ups, and interest on arrears, supplementing existing NPS benefits.
Over 8 crore EPFO accounts have no birth date, 11 crore missing father's name
According to the statement, the Employees' Provident Fund Organisation (EPFO) has 8,38,04,469 subscriber accounts where there is no date of birth record.
ICAI to help EPFO with accrual accounting system
A Memorandum of Understanding has been inked between ICAI Accounting Research Foundation (ICAI ARF) and EPFO.
EPFO coverage to be expanded to 10 crore subscribers: Minister Bhupender Yadav
According to Union Labour Minister Bhupender Yadav, it is the biggest responsibility of the EPFO to reduce its litigations and increase the coverage.
Why EPFO must extend the deadline for EPS members to apply for higher pension: View
The last date to apply for a higher pension from the Employees' Pension Scheme (EPS) is fast approaching. However, given the issues that are yet to be clarified by the Employees' Provident Fund Organisation (EPFO), there is a need for an extension of the deadline. Here are a few reasons that make a compelling case for the extension of the deadline.
Higher EPS pension: EPFO extends deadline to June 26, 2023
This is the second time Employees' Provident Fund Organisation (EPFO) has extended the deadline. Earlier, the EPFO extended the deadline by two months from March 3, 2023 to May 3, 2023. The original deadline of March 3, 2023 was set by the Supreme Court in its order dated November 4, 2022.
EPFO adds 1.28 million members in June
Provisional payroll data released by the EPFO showed that of the total 1.28 million net new subscribers, about 0.81 million came under the social security net of the EPFO for the first time.
