Minimum Pension The Government has notified a minimum pension of Rs. 1000/- per month to the pensioners under Employees’ Pension Scheme (EPS), 1995 vide Notification No. G.S.R. 593 (E), dated 19th August, 2014 effective from 01.09.2014 for the year 2014-15 which is continued beyond March, 2015 without any break. However, no proposal is under consideration… Read More »
THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 25th April, 2016 G.S.R. 440(E).—In exercise of powers conferred by section 6A read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes… Read More »
Restriction on EPF withdrawal As per extant rules governing the withdrawal of Employer’s contribution from the Employees Provident Fund Scheme, a member can withdraw both the employer’s share of contribution and his own share under the following circumstances: – (i) On retirement from service after attaining the age of 55 years. (ii) On retirement on… Read More »
A SPECIAL DRIVE TO CONSOLIDATE MULTIPLE ACCOUNTS OF AN EMPLOYEE The Hon’ble Prime Minister of India launched the Universal Account Number (UAN) for EPF members in October 2014 with a view to enable members to have continuity in their PF membership on every change in job and/or location. UAN has been issued to all members… Read More »
Government Decides to withdraw the 10th February 2016 Notification with Immediate Effect Government had issued a notification dated 10th February 2016 regarding rules for withdrawal from EPF Funds by the members. Under the revised rules, the employee was permitted to withdraw the employees’ share from the fund (which is 12% of the wages). However, it… Read More »
EPF Grievance Management What is EPF Grievance Management System ? Employees who have failed to transfer their EPF balances when they moved their jobs, or have applied for a transfer and have not got it, can use this system. Withdrawals, loans and maturity proceeds can also be tracked. The Employees Provident Fund Organisation ( EPFO) has… Read More »
Q:- Whether the member is required to be registered on Member Portal to file the Transfer Claim online? Ans:- Yes, the member is required to be registered on Member Portal to file the Transfer Claim online. The detailed process flow for the registration is available at the link available on the Homepage of EPFO website… Read More »
Pension Scheme 1) Who will be covered by the Pension Scheme? Every member of the ceased Family Pension Scheme 1971 and anyone who joins any covered establishment on or after 16-11-95 is compulsorily to join this scheme, provided his/her salary/wage is less than Rs. 6500/- per month at the date of appointment. 2) What is… Read More »
THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 29th March, 2016 G.S.R. 350(E).– In pursuance of section 5 of the Public Provident Fund Act, 1968 (23 of 1968) the Central Government hereby notifies that the subscriptions made to the fund on or after… Read More »
EPFO launches an incentive scheme for employers to encourage partnership in allotment of universal account number (UAN) to their employees Employers can get refund upto 10% of administrative charges payable to EPFO under a new incentive scheme EPFO, Head Office, New Delhi: In order to boost the process of seeding the Universal Account Number (UAN)… Read More »