Provident Fund

Employees' Provident Fund Organization (EPFO) Exam Postponed

Jobs | Edited by Maitree Baral | Saturday June 6, 2020

The recruitment exam for selection of Enforcement Officer/ Accounts Officer in the EPFO has been postponed. The exam was scheduled to be held on October 4.

Government Implements Cut In Provident Fund Contribution To 10% For 3 Months

Business | Edited by Abhik Deb (with inputs from agencies) | Tuesday May 19, 2020

The move is aimed at increasing the employees' take-home salary for the months of June, July and August

Finance Minister Nirmala Sitharaman Announces PF Benefits: 5 Things To Know

Business | Edited by Abhik Deb | Wednesday May 13, 2020

Finance Minister Nirmala Sitharaman on Wednesday announced measures related to provident fund (PF), which will result in a hike in take home salaries of employees across the board. The announcement came as part of the first tranche of measures detailed upon, as a part of the Rs 20 lakh crore economic package that Prime Minister Narendra Modi announ...

Government Announces PF Benefits, Take Home Salaries To Increase

Business | Edited by Peter Noronha | Wednesday May 13, 2020

To provide more take home salary for employees and to give relief to employers, the EPF or Employee Provident Fund contribution is being reduced for businesses and workers for three months, the government said today. This will amount to a liquidity support of Rs 6,750 crore, said the government, in the first of many tranches of the economic package...

What MSMEs May Get Including Wages For Workers: 10 Points

India News | Reported by Akhilesh Sharma, Edited by Deepshikha Ghosh | Wednesday May 13, 2020

The government may pay three-month salaries of employees of small and medium businesses hit by coronavirus and weeks of lockdown, sources said on Wednesday. It also plans to guarantee up to Rs 3 lakh crore of loans to MSMEs or Micro, Small and Medium Enterprises to help them tide over the virus crisis. On Tuesday, PM Modi announced Rs 20 lakh crore...

CBI Probes 2 IAS Officers In UP Power Firm Provident Fund Scam: Report

India News | Press Trust of India | Monday May 11, 2020

The CBI has questioned senior IAS officers Alok Kumar and Aparna U in connection with alleged irregularities in the investment of over Rs 4,300 crore of provident fund of Uttar Pradesh Power Corporation Limited (UPPCL) employees in the scam-hit DHFL and other housing finance companies, sources said on Sunday.

Retirement Fund Body EPFO Settles 13 Lakh Claims During Coronavirus Lockdown: 10 Points

Business | Edited by Peter Noronha | Wednesday April 29, 2020

The Employees Provident Fund Organization (EPFO) has settled 12.91 lakh claims, including 7.40 lakh COVID-19 claims, under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) scheme in order to provide immediate relief to people reeling under the ongoing 40-day lockdown targeted at curbing the spread of deadly COVID-19 disease. The Retirement fund body ...

Coronavirus Crisis: Retirement Fund Body Sets Up Mechanism To Credit EPF Accounts, 79 Lakh Members To Benefit

Business | Edited by Sandeep Singh (with inputs from agencies) | Saturday April 11, 2020

The labour ministry said eligible organisations can claim the relief by filing an electronic challan-cum-return (ECR).

Coronavirus Crisis: 1.37 Lakh PF Withdrawal Claims Settled Within 10 Days

Business | Edited by Peter Noronha | Friday April 10, 2020

PF Rules: Employees Provident Fund Organisation has disbursed an amount of Rs. 279.65 crore under a new provision specially formulated by amending EPF Scheme

Need To Rectify Provident Fund Birth Record? Here's How You Can Do It Using Aadhaar

Business | Edited by Sandeep Singh | Monday April 6, 2020

COVID-19 Impact: The EPFO said the date of birth (DoB) recorded in Aadhaar "will now be accepted as valid proof of date of birth for the purpose of rectification".

15-Year Public Provident Fund: From April 1, Interest Rate Cut To 7.1% From 7.9%

Business | Edited by Sandeep Singh | Monday April 6, 2020

PPF Interest Rate: A Public Provident Fund account can be set up at designated branches of post office and commercial banks for a lock-in period of 15 years.

From Today, Public Provident Fund, 7 Other Small Savings Schemes To Fetch Lower Returns

Business | Edited by Sandeep Singh | Wednesday April 1, 2020

Currently, the Ministry of Finance offers nine types of small saving schemes, including Public Provident Fund (PPF), Kisan Vikas Patra and Sukanya Samriddhi.

EPFO Website Appears to Be Down After Pandemic Advance Facility Announced as Coronavirus Relief Measure

Abhik Sengupta | Monday March 30, 2020

Days after the government announced PF relief measures to tackle economic distress caused by the novel coronavirus, the EPFO website on Monday faced an outage.

Government Eases Provident Fund Rules. Here's How To Request An Online Withdrawal

Business | Edited by Abhishek | Monday March 30, 2020

Covid-19: The government last week announced withdrawal of up to 75 per cent of the amount standing to member's credit in the employee provident fund.

Government Provides Relief In Provident Fund Contribution, Withdrawal Norms

Business | Edited by Abhik Deb | Thursday March 26, 2020

Briefing the media about the measures, Finance Minister Nirmala Sitharaman said that for the next three months, the government will pay EPF contribution for both the employer and employee. However, the benefit will only be extended to organisations employing up to 100 workers, 90 per cent of whom earn less than Rs 15,000 a month.