Employee Provident Fund News
Higher EPS pension: Why do employees feel shortchanged?
The EPFO calculates the pension amount on a pro-rata basis, splitting the service period into pre and post 1 September 2014 periods. The methadology can reduce a person’s pension by up to 30%.
7 min read27 Feb 2025The EPFO’s ATM plan is good but it must resolve its pension muddle first
It’s welcome that this retiral fund plans to enable ATM withdrawals as part of an upgrade plan billed as EPFO 3.0, with added flexibility options, but it urgently needs to relieve its pensioners waiting for a Supreme Court order to be implemented in their favour.
3 min read16 Dec 2024EPFO directs Bajaj Allianz Life Insurance to pay ₹121-crore default
The EPFO’s regional provident fund commissioner held that the insurance major had split up salary components into various perks to avoid paying provident fund dues.
2 min read30 Nov 2024Plan to retain your Employees’ Provident Fund balance after retiring? You need to read this.
Certain rules come into play involving taxes, the interest accrual period, and the duration for which the funds can remain unclaimed.
2 min read19 Nov 2024Fresh formal hiring up 2.5% in July to 1.05 million, shows EPFO data
EPFO data is considered crucial as only the formal workforce enjoys social security benefits and is protected by labour laws.
3 min read23 Sep 2024EPF: How to check your balance on passbook? A step-by-step guide
A key prerequisite for being able to use this facility is that the members should be registered on the unified member portal.
1 min read23 May 2024EPF passbook: How to withdraw EPF balance online? A step by step guide?
EPF withdrawal: The EPF subscriber can apply for partial withdrawal for a range of purposes which include marriage of self or child, medical needs, house purchase, home loan repayment, or house renovation
2 min read13 Apr 2024Why withdrawal of money from your PF is fraught with challenges
A variety of reasons, from inaccurate KYC details to incorrect documentation, can hamper withdrawal of funds
6 min read12 Mar 2024Every third claim made to EPFO gets rejected
The rate of rejection by the Employees’ Provident Fund Organisation (EPFO) rose from 13 percent to 34 percent in 5 years
1 min read24 Feb 2024Nominee vs legal heirs: Who will have an upper hand in EPFO fund distribution?
EPFO members nominate family for provident fund distribution. Legal heirs inherit funds if no nominee is declared. Recent Supreme Court ruling prioritizes succession laws over nomination process for fund distribution.
2 min read21 Feb 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared