[

epf

]

EPFO starts crediting 8.5% for 2019-20, amount to reflect in EPF accounts from Jan 1

“It (8.5 per cent interest) would comprise 8.15 per cent from debt income and balance 0.35 per cent (capital gain) from the sale of ETFs (exchange traded funds) subject to their redemption by 31st December, 2020,” he said.
Gangwar had approved the 8.5 per cent rate for last fiscal after receiving the finance ministry’s concurrence. Thereafter the direction was sent to the EPFO for crediting the interest on EPF into the subscribers’ accounts.(Mint Archive)
Gangwar had approved the 8.5 per cent rate for last fiscal after receiving the finance ministry’s concurrence. Thereafter the direction was sent to the EPFO for crediting the interest on EPF into the subscribers’ accounts.(Mint Archive)
Updated on Dec 31, 2020 05:53 PM IST
Copy Link
New Delhi | ByPress Trust of India | Posted by Shankhyaneel Sarkar

EPFO likely to credit 8.5 per cent interest on EPF for 2019-20 by Dec

Earlier in September this year, the Employees Provident Fund Organisation had decided to split 8.5 per cent interest into two installments of 8.15 per cent and 0.35 per cent in its trustees meet headed by Labour Minister Santosh Gangwar.
Retirement fund body EPFO is likely to credit 8.5 per cent rate of interest for 2019-20 in the employees’ provident fund (EPF) accounts of around six crore subscribers in one go by the end of December.(File photo)
Retirement fund body EPFO is likely to credit 8.5 per cent rate of interest for 2019-20 in the employees’ provident fund (EPF) accounts of around six crore subscribers in one go by the end of December.(File photo)
Published on Dec 13, 2020 11:30 AM IST
Copy Link
New Delhi | ByPress Trust of India| Posted by Mallika Soni

EPFO records 14.9 lakh net new enrolments in September

Provisional payroll data released by the EPFO last month had shown that net new enrolments stood at 10.05 lakh in August this year.
Employees provident fund organisation head office , EPFO office.(File photo)
Employees provident fund organisation head office , EPFO office.(File photo)
Updated on Nov 20, 2020 10:15 PM IST
Copy Link
New Delhi | ByPress Trust of India | Posted by Deepali Sharma

Atmanirbhar Bharat Rozgar Yojana: All you need to know about new employment scheme

The establishments registering with EPFO after the commencement of the scheme will get subsidy for all new employees and the scheme will remain operational till June 30, 2021.
Finance minister Nirmala Sitharaman announced Atmanirbhar Bharat Rozgar Yojana on Thursday.(PTI)
Finance minister Nirmala Sitharaman announced Atmanirbhar Bharat Rozgar Yojana on Thursday.(PTI)
Updated on Nov 12, 2020 03:23 PM IST
Copy Link
Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Kunal Gaurav

Agri exports rise 43.4% in April-September: Govt

Positive growth was recorded in export of groundnut (35 per cent), refined sugar (104 per cent), wheat (206 per cent), basmati rice (13 per cent) and non-basmati rice (105 per cent) during the April-September of this fiscal from over the year-ago, the agriculture ministry said.
The agriculture ministry has also prepared a comprehensive action plan towards promotion of agri trade.(HT File Photo)
The agriculture ministry has also prepared a comprehensive action plan towards promotion of agri trade.(HT File Photo)
Updated on Oct 10, 2020 09:51 PM IST
Copy Link
New Delhi | ByPress Trust of India | Posted by Kanishka Sarkar

38.71 lakh EPF members withdraw 44k cr since lockdown: Labour Min

Total 38,71,664 EPF withdrawals claims from EPF accounts worth 44,054.72 crore were settled till date since lockdown was imposed (March 25 this year), Labour Minister Santosh Gangwar said in a written reply to the Rajya Sabha.
The total EPF withdrawals in Delhi during the period stood at <span class='webrupee'>₹</span>3,308.57 crore for 3,16,671 claims.(REUTERS)
The total EPF withdrawals in Delhi during the period stood at 3,308.57 crore for 3,16,671 claims.(REUTERS)
Published on Sep 21, 2020 04:06 PM IST
Copy Link
New Delhi | ByPress Trust of India | Posted by Arpan Rai

EPFO to credit interest soon. Know how to check your passbook balance

EPFO will 8.15% interest will be credited to the subscribers first and the rest 0.15% will be credited to the subscriber by December.
EPFO beneficiaries will be able to keep a tab when the interest gets credited to their account.(HT Archive)
EPFO beneficiaries will be able to keep a tab when the interest gets credited to their account.(HT Archive)
Updated on Sep 12, 2020 02:29 PM IST
Copy Link
Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Shankhyaneel Sarkar

Employees’ PF contribution can go higher than 10%, not of employers: Labour ministry

Last week, Finance minister Nirmala Sitharaman had announced the reduction of statutory provident fund contribution by both employers and employees for the next three months to 10 per cent of basic wages from 12 per cent.
EPF contributions are paid as proportion of basic wages which include basic pay and DA.(HT Photo)
EPF contributions are paid as proportion of basic wages which include basic pay and DA.(HT Photo)
Published on May 19, 2020 10:16 PM IST
Copy Link
New Delhi | ByPress Trust of India

Centre curtails EPF contributions by 2%, move likely to benefit 650,000 firms

However, central public sector enterprises and state PSUs will continue to pay 12% of the employer’s share, while employees contribute 10%.
The EPF move will be applicable to all workers, or nearly 43 million employees across 650,000 establishments, who do not benefit from the PM Garib Kalyan package announced in March.(Pixabay)
The EPF move will be applicable to all workers, or nearly 43 million employees across 650,000 establishments, who do not benefit from the PM Garib Kalyan package announced in March.(Pixabay)
Updated on May 14, 2020 06:18 AM IST
Copy Link
Mint, New Delhi | ByPrashant K Nanda

Sitharaman announces boost to MSMEs; EPF support to workers, businesses: 10 points

The due date for Income Tax returns for the year 2019-2020 has now being extended from 31st July and 31 October to 30 November 2020.
Union finance minister Nirmala Sitharaman briefs the media on economic package in New Delhi on Wednesday.(ANI photo)
Union finance minister Nirmala Sitharaman briefs the media on economic package in New Delhi on Wednesday.(ANI photo)
Updated on May 13, 2020 07:39 PM IST
Copy Link
Hindustan Times, New Delhi | Byhindustantimes.com | Edited by SparshitaSaxena

Over 650,000 users dip into EPF savings

As many as 30,000-35,000 people are withdrawing their provident fund savings on an average working day in April, an indication of the hardship the working class is facing.
Around ₹2,700 crore has already been withdrawn under the newly-facilitated pandemic rules, according to data from retirement fund manager Employees’ Provident Fund Organisation (EPFO).(Pradeep Gaur/ Mint file photo)
Around ₹2,700 crore has already been withdrawn under the newly-facilitated pandemic rules, according to data from retirement fund manager Employees’ Provident Fund Organisation (EPFO).(Pradeep Gaur/ Mint file photo)
Published on Apr 27, 2020 06:54 AM IST
Copy Link
Livemint, New Delhi | ByPrashant K Nanda

Chandigarh industry stares at layoffs, pay cuts for sustainability amid Covid-19 lockdown

There are around 3,000 medium and small scale manufacturing and service sector units in the city’s twin industrial areas employing around 30,000 workers
Salary cuts by at least 30% to 50% will be enforced by the industry as it looks to reduce its expenditures to sustain during the nationwide lockdown.
Salary cuts by at least 30% to 50% will be enforced by the industry as it looks to reduce its expenditures to sustain during the nationwide lockdown.
Updated on Apr 18, 2020 02:19 PM IST
Copy Link
Hindustan Times, Chandigarh | ByMunieshwer A Sagar, Chandigarh

News updates from Hindustan Times: Covid-19 package offers eight 5kg cooking gas refills for free till June and all the latest news

Here are today’s top news, analysis and opinion curated for you. Know all about the latest news and other news updates from Hindustan Times.
The <span class='webrupee'>₹</span>1.7 lakh crore Covid-19 welfare package that the government announced on March 26 specified only three free cooking gas cylinders to about 80 million poor households.(AFP)
The 1.7 lakh crore Covid-19 welfare package that the government announced on March 26 specified only three free cooking gas cylinders to about 80 million poor households.(AFP)
Published on Apr 12, 2020 04:57 PM IST
Copy Link
Hindustan Times, New Delhi | ByHT Correspondent

Tax refunds to EPF withdrawals: Govt’s economic measures to aid individuals amid coronavirus crisis

Under a special provision, the government had announced that individuals could now withdraw three months salary from Employees’ Provident Fund (EPF) account amid the coronavirus crisis.
A customer wearing mask counts the money in the Bank as a precuationary measure against coronavirus.(ANI)
A customer wearing mask counts the money in the Bank as a precuationary measure against coronavirus.(ANI)
Updated on Apr 12, 2020 01:54 PM IST
Copy Link
Hindustan Times, New Delhi | ByHT Correspondent

EPF withdrawals made in the wake of Covid-19 pandemic exempt of tax

Unlike withdrawal made earlier which levied tax, Covid-19 withdrawals will be exempt from taxation. Centre has made provisions that can allow up to 75% of the total EPF balance withdrawal for employees.
EPFO office at New Delhi’s Bhikaji Cama Place.(HT Archive)
EPFO office at New Delhi’s Bhikaji Cama Place.(HT Archive)
Updated on Apr 12, 2020 10:59 AM IST
Copy Link
Hindustan Times, New Delhi | ByHT Correspondent

Labour Ministry allows EPF withdrawal amid Covid-19 lockdown

The ministry has issued a notification in this regard on March 28, 2020 to amend the Employees’ Provident Fund Scheme 1952, a labour ministry statement said.
In its communication, the Employees Provident Fund Organization has stated that officers and staff must process claims of EPF subscribers promptly so that relief reaches the worker and his/her family to help them fight with COVID-19.(Mint file photo)
In its communication, the Employees Provident Fund Organization has stated that officers and staff must process claims of EPF subscribers promptly so that relief reaches the worker and his/her family to help them fight with COVID-19.(Mint file photo)
Updated on Mar 29, 2020 02:27 PM IST
Copy Link
New Delhi | ByPress Trust of India

Employees may soon get option to raise take-home pay by reducing EPF contributions

According to reports, the Social Security Code Bill, 2019, which has been approved by the cabinet and is likely to be tabled in Parliament this week, is likely to allow employees to pay less than the current 12% statutory contribution.
It is not yet clear that by what percentage can employees reduce his/her EPF contribution under the new provision.(HT file)
It is not yet clear that by what percentage can employees reduce his/her EPF contribution under the new provision.(HT file)
Updated on Dec 10, 2019 12:01 PM IST
Copy Link
Hindustan Times, New Delhi | ByHT Correspondent

Andhra, Telangana RTC managements default in remittance of Rs 1700 crore in PF arrears to employees

The TSRTC MD has also been asked to bring records, including attendance register, membership or eligibility register, cash book and voucher, payment register and pay bills and all the other documents, which indicate employment strength and payment of wages to direct and indirect employees.
Buses stand at as TSRTC employees are on an indefinite strike demanding fulfilment of various demands including RTC merger with the Government, in Hyderabad on October 5.(ANI Photo)
Buses stand at as TSRTC employees are on an indefinite strike demanding fulfilment of various demands including RTC merger with the Government, in Hyderabad on October 5.(ANI Photo)
Published on Nov 09, 2019 07:40 AM IST
Copy Link
Hindustan Times, Hyderabad | BySrinivasa Rao Apparasu

EPFO takes state excise department to task

The Ludhiana Employees Provident Fund Organisation (EPFO) has held the state excise and taxation department jointly responsible for major PF default carried out by a private establishment to the tune of ₹1.22 crore. The case is related to Gagan Vasu Cine Links, a company linked to liquor baron Shiv Lal Doda.
HT Image
HT Image
Published on Oct 10, 2019 10:55 PM IST
Copy Link
Hindustan Times, Ludhiana | ByHarvinder Kaur, Ludhiana

Soon, 6 cr EPF subscribers will get interest credited. Here’s how to check

Rs 54000 crore will be credited into accounts of more than 6 crore EPFO subscribers. EPF withdrawal claims for 2018-19 will be settled at a higher rate of 8.65% rather than the earlier rate of 8.55%.
EPF subscribers will receive their interest for 2018-19 directly credited into their bank accounts.(HT FILE)
EPF subscribers will receive their interest for 2018-19 directly credited into their bank accounts.(HT FILE)
Updated on Sep 25, 2019 02:06 PM IST
Copy Link
New Delhi | ByHT Correspondent

Trade unions oppose proposal to empower Centre to reduce EPF contribution

The unions said it is the most dangerous that proviso Para 3 under section 6, with all its audacity, trying to hit the final nail in the coffin of entire EPF system as it empowers the government to announce any rate of contribution, for any class of employee for any period of time.
Trade unions are unhappy with the proposed amendments to Employees’ Provident Fund and Miscellaneous Provision Act.(Diwakar Prasad/ Hindustan Times)
Trade unions are unhappy with the proposed amendments to Employees’ Provident Fund and Miscellaneous Provision Act.(Diwakar Prasad/ Hindustan Times)
Published on Sep 25, 2019 07:40 AM IST
Copy Link
New Delhi | ByPress Trust of India

8.65% interest rate ordered for 60 million PF subscribers, says minister

Labour minister Santosh Kumar Gangwar said that the government has approved the rate, which is “10 basis points higher” than the interest rate for 2017-18.
A formal provident fund order was issued by the government notifying the 8.65% interest rate for 48 million subscribers of the Employees’ Provident Fund Organisation (EPFO).(Mint Photo)
A formal provident fund order was issued by the government notifying the 8.65% interest rate for 48 million subscribers of the Employees’ Provident Fund Organisation (EPFO).(Mint Photo)
Updated on Sep 24, 2019 07:05 PM IST
Copy Link
Hindustan Times, New Delhi | ByRajeev Jayaswal

Ministries call truce, higher PF rate to stay

The matter was resolved after labour minister Santosh Kumar Gangwar recently met finance minister Nirmala Sitharaman and explained that the organisation is left with a sufficient surplus even after paying 8.65% interest rate to its 46 million subscribers, one of the officials said requesting anonymity.
The EPF interest rate is determined by CBT, which is the apex decision-making body and the same is notified by the labour ministry after taking concurrence of the finance ministry. (Photo @nsitharaman)
The EPF interest rate is determined by CBT, which is the apex decision-making body and the same is notified by the labour ministry after taking concurrence of the finance ministry. (Photo @nsitharaman)
Updated on Aug 23, 2019 06:11 AM IST
Copy Link
Hindustan Times, New Delhi | ByRajeev Jayaswal

Labour ministry rejects move to lower EPFO rate of interest

Government officials familiar with the matter said the labour ministry is of the view that EPFO has sufficient surplus of over Rs 3,150 crore, mainly earned from investments in exchange traded funds (ETFs).
EPFO interest rate is determined by the organisation’s Central Board of Trustees (CBT), which does so after assessing the annual returns on the investments.(File photo for representation)
EPFO interest rate is determined by the organisation’s Central Board of Trustees (CBT), which does so after assessing the annual returns on the investments.(File photo for representation)
Updated on Jul 19, 2019 07:42 AM IST
Copy Link
Hindustan Times, New Delhi | ByRajeev Jayaswal

Citing IL&FS, govt seeks rethink of EPF rate hike

The EPF interest rate was at a five-year low of 8.55% in the 2017-18 fiscal, and the 8.65% proposal, made in the run-up to the general elections in February, would have benefited the roughly 45 million subscribers to the retirement savings accoun
The finance ministry objected to the proposal, citing investments in the troubled IL&FS group companies as one of the factors.((Mint file photo))
The finance ministry objected to the proposal, citing investments in the troubled IL&FS group companies as one of the factors.((Mint file photo))
Updated on Jun 20, 2019 08:27 AM IST
Copy Link
New Delhi | ByRajeev Jayaswal

Cabinet gives 526 crore for Delhi’s GB Pant colleges

The cabinet has also revised the estimated cost of the corridor improvement project— covering the Outer Ring Road stretch connecting IIT-Delhi with NH-8 and areas in the vicinity — from 313.67 crore to 364.8 crore, the government said Friday.
The Delhi cabinet on Friday approved the construction of an integrated campus of the GB Pant polytechnic and engineering colleges in Okhla Industrial Estate Phase-3 and allocated <span class='webrupee'>₹</span>526.6 crore for them.(Getty Images/iStockphoto)
The Delhi cabinet on Friday approved the construction of an integrated campus of the GB Pant polytechnic and engineering colleges in Okhla Industrial Estate Phase-3 and allocated 526.6 crore for them.(Getty Images/iStockphoto)
Published on Mar 09, 2019 02:28 AM IST
Copy Link
Hindustan Times, New delhi | ByHT Correspondent

Additional duty of executing new pension scheme irks EPFO staff

Officers of the EPFO are upset at the government’s diktat that asked it to organise and implement the nationwide launch of the pension scheme for unorganised-sector workers — a scheme in which EPFO has no official role.
Officers of the Employees’ Provident Fund Organisation (EPFO) are upset at the government’s diktat that asked the statutory body to organise and implement the nationwide launch of the recently announced pension scheme for unorganised-sector workers — a scheme in which EPFO has no official role.(Amal KS/HT PHOTO)
Officers of the Employees’ Provident Fund Organisation (EPFO) are upset at the government’s diktat that asked the statutory body to organise and implement the nationwide launch of the recently announced pension scheme for unorganised-sector workers — a scheme in which EPFO has no official role.(Amal KS/HT PHOTO)
Published on Mar 05, 2019 06:43 AM IST
Copy Link
Hindustan Times, New Delhi | ByRajeev Jayaswal

EPFO could raise rate, increase basic pension

The move, experts said, would be in line with a slew of populist announcements made by the Narendra Modi government ahead of the Lok Sabha elections
Employees’ Provident Fund Organisation in New Delhi.(File Photo)
Employees’ Provident Fund Organisation in New Delhi.(File Photo)
Updated on Feb 21, 2019 06:52 AM IST
Copy Link
Hindustan Times, New Delhi | ByRajeev Jayaswal

Declare pension as fundamental right, RSS labour wing tells government

The organisation’s reference is to the new pension scheme for informal sector workers announced by the government in the Interim Budget.
Bharatiya Mazdoor Sangh wants governmnent to declare pension fundamental right.. (Photo by Ravi Choudhary/ Hindustan Times)(Ravi Choudhary/HT PHOTO)
Bharatiya Mazdoor Sangh wants governmnent to declare pension fundamental right.. (Photo by Ravi Choudhary/ Hindustan Times)(Ravi Choudhary/HT PHOTO)
Published on Feb 18, 2019 11:41 PM IST
Copy Link
New Delhi | ByHT Correspondent

SDMC sanitation workers not getting EPF for over a year, says Cong leader

EPF is a mandatory contribution made by an individual as well as her employer every month, as per the Employees’ Provident Fund and Miscellaneous Act, 1952.
Last year, sanitation workers in east Delhi went on an indefinite strike over issues such as not getting salaries.(HT FILE PHOTO)
Last year, sanitation workers in east Delhi went on an indefinite strike over issues such as not getting salaries.(HT FILE PHOTO)
Updated on Sep 21, 2018 01:51 AM IST
Copy Link
Hindustan Times, New Delhi | ByVibha Sharma, New Delhi
SHARE
  • 1
  • 2
  • ...
Story Saved
×
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, December 06, 2021