1.Employee definition includes Supervisory, Administrative and Managerial employees too. 2.24,000 ceiling for employee definition dissolved 3.Schedule Employment abolished. Thus now almost everyone will be covered under the definition of Employee 4.OT double of normal wages VS current practice of double of Basic + DA 5.Consent of Employees for OT required. 6.There will be a National […]
Over four crore members of the retirement fund body EPFO can now withdraw funds from their EPF account for the treatment of illness and purchasing equipment to deal with handicap without medical certificates. The Employees’ Provident Fund Scheme 1952 is amended to do away with the requirement of submission of various certificates and proformas for […]
New Maternity law benefit for womens Maternity leave and child care is one of the biggest challenges for working women. This is almost the single largest reason for most women to drop out of the workforce. The lack of a robust support system forces them to make a choice between their child and work. Businesses […]
Now link Aadhaar account and Bank details with EPFO. At a time when fintech players and banks are vying to offer faster services to their customers, reduce paperwork, and move processes online for greater convenience, government bodies like the Employees’ Provident Fund Organisation (EPFO) too have realised that they need to change with the times. […]
Board Resolution for compliance under POSH Act,2013 -Get a draft for Board Resolution Constitution of Internal Complaints Committee(ICC) -Get a draft for Constitution ICC Preparing drafts of appointment letters to be issued to new Internal Complaint Committee (ICC) members -Get a draft for Appointment letters Induction/Orientation Programme for ICC Members Making Rules & Regulations under POSH […]
EPFO or Employees’ Provident Fund Organisation has been taking a number of measures to ease the withdrawal process for the benefit of nearly four crore customers. From paying hospital bills to purchase of house/land through PF deposits to a new loyalty scheme, EPFO has announced a number of measures for the welfare of subscribers. In […]
New scheme for withdrawal of Employees Provident Fund Organization has introduced to facilitate the housing needs of employees/workers. In a statement, Sanat Kumar, Regional PF Commissioner-I, said the member may apply for withdrawal, being a member of society having 10 or more members and registered under any law, and the society is desirous of purchasing […]
The labour ministry has amended the social security schemes run by the retirement fund body Employees’ Provident Fund Organisation (EPFO) to enable it to make all payments — pension, provident fund and insurance — to members electronically. “The labour ministry has amended the schemes run by the EPFO by a notification. This will enable the […]
EPFO trustees likely to raise ETF investments to 15% on May 27 The higher limit would help the Employees’ Provident Fund Organisation’s (EPFO) park around Rs 15,000 crore in stock markets in 2017-18 as its investible deposits are close to Rs 1 lakh crore annually. EPFO trustees likely to raise ETF investments to 15% on […]
India’s retirement fund manager Employees’ Provident Fund Organization (EPFO) will invest at least Rs18,000 crore in stocks in the current financial year, adding fuel to a stock market that is already on fire. Labour minister Bandaru Dattatreya told reporters in New Delhi on Monday that his ministry is positive on more equity exposure because of […]
Market value of holdings rose to Rs. 23,431 cr., giving absolute returns of 11.31% Board Meet of EPFO on discussion for Raising Equity Investments The proposal to deploy more retirement savings in the stock market will be taken up by the Employees’ Provident Fund (EPF) board of trustees on May 27. “The plan to increase […]
To ensure quick transfer of funds, the government will now make payments to Employees’ Provident Fund Organisation (EPFO) beneficiaries through electronic or digital fund transfer system. This move by the government is likely to benefit 4.5 crores EPF subscribers and around than 54 lakh pensioners. The Ministry of Labour & Employment vide notification dated 4th […]
In the Employees` Enrolment Campaign, 2017, an Employees` Provident Fund Organisation (EPFO), as many as 77 lakh new subscribers have been enrolled. “Under the campaign, we have set a target to enroll one crore new subscribers. So far, we have enrolled 77 lakh new subscribers,” EPFO`s Additional Central Provident Fund Commissioner S.B.Sinha said here at […]
Trustees of retirement fund body Emploment Provident Fund Organisation (EPFO) may approve a proposal tomorrow to reduce the mandatory contributions toward social security schemes run by it to 10 per cent for workers as well as employers. Presently, employees and employers contribute 12 per cent of basic wages each towards Employees Provident Fund Scheme (EPF), […]
Retirement fund body Employees Provident Fund Organisation (EPFO) will invest Rs 20,000 crore in exchange traded funds this fiscal as it has decided to raise the investment limit in ETFs, Union Minister Bandaru Dattatreya said on Sunday. Yesterday, the Employees Provident Fund Organisation (EPFO) Central Board of Trustees meeting held in Pune agreed on the […]