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The District Consumer Disputes Redressal Commission, Chandigarh has held that the Employees’ Provident Fund Organisation (EPFO) cannot cite software glitches or technical issues to justify a nearly 10-year delay in transferring provident fund (PF) accumulations from an employee’s old account to a new one.The commission partly allowed a complaint filed by employee Rajesh Garg and…
NEW DELHI: The increase in minimum wages in states such as Uttar Pradesh and Haryana may result in several workers getting out of the provident fund net as the current wage ceiling for mandatory contribution to Employees Provident Fund Organisation is Rs 15,000 a month.Amid labour protests, the UP govt has increased the minimum wage…
NEW DELHI: The Employees Provident Fund Organisation is focusing on getting subscribers to withdraw unclaimed money lying in inoperative accounts.Nearly a quarter of the inoperative accounts, which are Aadhaar verified, may soon get cleared of the idle balances as the EPFO is working to develop an auto-settlement facility which will allow account holders to receive…
Pensioners covered under the Employees’ Pension Scheme 1995 (EPS-95) will hold a three-day protest at Jantar Mantar in New Delhi from March 9, pressing for an increase in the minimum monthly pension to Rs 7,500 from the current Rs 1,000, PTI reported.The protest has been called by the EPS 95 National Agitation Committee, led by…
By Shiva RajoraNEW DELHI: Amid weak market conditions and falling interest rates, Employees Provident Fund Organisation (EPFO) on Monday recommended retaining the interest rate on retirement savings accumulated by nearly 31 crore unchanged at 8.25% during the current financial year. This is the third consecutive year that the social security organisation has kept the rate…
EPFO interest rate (AI image) EPFO interest rate FY 2025-26: The central government has decided to keep the annual interest rate on Employees’ Provident Fund deposits unchanged at 8.25 per cent for the financial year 2025–26, the Ministry of Labour and Employment said. The move is expected to benefit crores of workers by reinforcing their…
NEW DELHI: The investment committee of the Employees Provident Fund Organisation (EPFO) in its meeting last month has approved the proposal to participate in the fourth round of voluntary buyback offer for non-convertible debentures (NCDs) issued by the Delhi Mumbai Expressway Development Limited (DMEDL). The final decision regarding the Rs 1,250 crore bond buyback will…
NEW DELHI: The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) is likely to recommend 8.2-8.25% interest rate for its 31 crore members this year, in the wake of the ebbing stock markets and bond yields, combined with higher settlements of claims. The retirement savings body paid 8.25% last year. In…
The labour ministry has initiated a process to return unclaimed funds lying in inoperative Employees’ Provident Fund Organisation (EPFO) accounts to subscribers, a move expected to benefit over 3.1 million account holders, labour minister Mansukh Mandaviya said.A pilot phase covering about 0.7 million subscribers will be rolled out shortly after the decision was taken during…
New Delhi: The Employees Provident Fund Organisation (EPFO) is likely to constitute a high-powered committee to study its investment objectives, policy and guidelines as it eyes higher returns on its nearly Rs 31 lakh crore corpus based on contribution from over 30 crore members. The issue was discussed at last week’s investment committee meeting, which…
