IRCTC NEWS I INDIAN RAILWAY NEWS: EPFO

Showing posts with label EPFO. Show all posts

Showing posts with label EPFO. Show all posts

Saturday, 6 June 2020

UPSC 07:12

UPSC :Personality Test For the Remaining Candidates of Civil Services Examination 2019 to be held from 20.07.2020

UPSC :Personality Test For the Remaining Candidates of Civil Services Examination 2019 to be held from 20.07.2020

UPSC

Personality tests for the remaining candidates of Civil Services Examination 2019 to be held from 20th July, 2020.

Posted On: 05 JUN 2020 4:23PM by PIB Delhi

The Union Public Service Commission held a special meeting today to review the prevailing situation due to COVID-19. Taking notice of the opening of lockdown and progressive relaxations being announced by the Central Government and various States, the Commission decided to issue a revised schedule of Examinations/ Recruitment Tests (RTs). Details of the revised calendar of Examinations/ RTs have been published on the UPSC website.

The Commission also decided to resume personality tests for the remaining candidates of Civil Services Examination 2019 from 20th July, 2020. Candidates will be informed individually.

Recruitment Test for the posts of EO/AO in the Employees’ Provident Fund Organization earlier scheduled to be held on the October 04, 2020 has been deferred. New date for conduct of this RT will be published on the website of the Commission at the time of issue of calendar of Examinations/ Recruitment Tests for 2021.

Source:PIBNEWS

Friday, 1 May 2020

ministry of Labour 18:32

EPFO Makes Filing Of ECR Easier For Business

EPFO Makes Filing Of ECR Easier For Business

Source:PIBNEWS

Thursday, 31 January 2019

EPFO Employees 07:35

Eligible Engineering Cadres of EPFO on Deputation Basis

Eligible Engineering Cadres of EPFO on Deputation Basis

Source:EPFINDIA

Tuesday, 9 May 2017

welfare of labour 08:02

No construction by EPFO, to act as facilitator: Dattatreya

No construction by EPFO, to act as facilitator: Dattatreya

New Delhi, May 8 (PTI) Labour Minister Bandaru Dattatreya today clarified that the retirement fund body EPFO will not construct houses, but become a facilitator for its over four crore members so that they can buy homes.

Labour Ministry intends to facilitate at least 10 lakh subscribers in the period of next two year by allowing them to use 90 per cent of EPF accumulations to make down payments to buy houses and use their accounts for paying EMIs of home loans.

"For housing, the EPFO has nothing to do with construction of houses. It is their (subscribers) responsibility," Dattatreya replied when asked whether the Employees' Provident Fund Organisation (EPFO) would build low cost homes for their subscribers.

Elaborating further about the recent amendment in the Employees' Provident Fund Scheme 1952 for facilitating members to buy homes, the minister said, "The scheme also aims to fulfil the Prime Minister's vision of 'Housing for All By 2022'. Our EPFO subscribers will be the beneficiary of this scheme. We have 4.31 crore EPFO subscribers. We have framed norms for forming group housing societies."

Earlier, certain section of media had reported that the EPFO will build 10 lakh homes in the next two year time for its subscribers and the body would join hands with Ministry of Urban Development for the purpose.

The minister said, "The scheme can be availed by the subscribers getting monthly basic wages of below Rs 15,000.

The scheme will be aligned with the urban development ministry (programmes) and other organisations because Government of India is also giving subsidy of Rs 1.5 lakh to weaker sections (to buy houses)."

He said that the government is also providing interest subsidy for certain section of people for buying home and all benefits can be clubbed together.

The minister also talked about the proposal of raising wage ceiling for coverage under the EPFO from existing Rs 15,000 to Rs 25,000, which would be shortly taken up in next meeting of body's trustees.

Source:PTINEWS

Monday, 24 April 2017

fixed deposit 08:04

Notifications for Extension of Enrolment Campaign,2017 upto 30th June, 2017

Notifications for Extension of Enrolment Campaign,2017 upto 30th June, 2017

NOTIFICATION

New Delhi, the 29th March, 2017

G.S.R. 301(E).—In exercise of the powers conferred by section 6C read with sub-section (1) of

section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the

Central Government hereby makes the following Scheme to amend the Employees’ Deposit Linked Insurance

(Second Amendment) Scheme, 2016, namely:—

1. (1) This Scheme may be called the Employees’ Deposit Linked Insurance (Second Amendment)

Amendment Scheme, 2017.

(2) It shall come into force on the 1st day of April, 2017.

2. In the Employees’ Deposit Linked Insurance (Second Amendment) Scheme, 2016, in paragraph (1),

in sub-paragraph (2), for the figures, letters and words “31st day of March, 2017”, the figures, letters

and words “30th day of June, 2017” shall be substituted.

[F. No. S-35012/13/2016-SS-II]

R. K. GUPTA, Jt. Secy.

Note: The Employees’ Deposit Linked Insurance (Second Amendment) Scheme, 2016 was published in the

Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide notification number G.S.R.

1192(E) dated the 30th December, 2016.

Download Original Document

Friday, 17 March 2017

Provident Fund 07:46

EPF Members to Withdraw upto 90 Percent Fund for Purchase of House -Central Government

EPF Members to Withdraw upto 90 Percent Fund for Purchase of House -Central Government

Government to Amend EPF Scheme, 1952 to Enable EPF Members to Withdraw upto 90 Percent Fund for Purchase of House

The Government has taken a decision for modification in the Employees’ Provident Funds (EPF) Scheme, 1952 to add a new paragraph 68 BD under which a member of Employees’ Provident Fund (EPF), being a member of a co-operative society or a housing society having at least 10 members of EPF, can withdraw upto 90 per cent from the Fund for purchase of dwelling house/flat or construction of dwelling house/acquisition of site. Monthly installments for repayments of any outstanding payments or interest may also be paid from the amount standing to the credit of the member, to the Government/housing agency/primary lending agency or banks concerned.

The total number of Employees’ Provident Fund (EPF) member accounts as on 31.03.2016, as per Annual Report for 2015-16, is 17.14 crore. On an average, contributions have been received in respect of 3.76 crore members during the year 2015-16. The withdrawal facility from the Provident Fund (PF) account under the Scheme will be available to only those PF members who fulfill the conditions prescribed.

This information was given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in written reply to a question in Rajya Sabha.

Thursday, 9 March 2017

Pensioners 06:10

Last date of submission of Digital Life Certificate through Jeevan Pramaan Patra extended upto 31st March 2017

Last date of submission of Digital Life Certificate through Jeevan Pramaan Patra extended upto 31st March 2017

EPF & MP Act, 1952 made applicable to all staff employed in ECHS on contractual basis

A single page composite claim form in death cases replaces Form 20, form 5-IF and Form 10-D

Noticing that many pensioners are yet to submit Aadhaar authenticated Jeevan Pramaan as life certificate for continuation of drawal of pension, the EPFO has further extended the last date of submission of Digital Life Certificate through Jeevan Pramaan Patra upto 31st March 2017. Earlier the last date was 28th February 2017.

Members and pensioners of the Employees’ Pension Scheme, 1995 are required to furnish Aadhaar number by 31st March 2017. In case a member has not been allotted Aadhaar Number, a copy of Aadhaar Enrolment ID slip is required to be attached for settlement of claim under EPS, 1995, namely for pension processing and monthly pension payments. Aadhaar number however is not required in case a member of pension scheme having less than 10 years of service chooses to withdraw by making an application in Form 10-C.

An Employee Enrolment Campaign-2017, started by EPFO on January 1st 2017 to cover left out workers, continues upto 31st March 2017. Under the scheme:-

· The employee’s share of contributions if not deducted by the employer is waived.

· Nominal damages to be paid by the employer, in respect of the employees for whom declaration has been made under this campaign, is at the rate of Rupee One per annum.

· Administrative charges have been waived.

Even though the EPF & MP Act, 1952 does not differentiate between casual, contractual and regular employees, it was noted that a large number of contractual employees hired by principal employer including those by the government departments, PSU and autonomous Organizations have remained out of coverage under EPFO. It is the duty of the principal employer to ensure compliance of their outsourced / regular / contract / casual / daily wager to the schemes under EPF Act.

To ensure coverage of workers, principal employers have been advised to ensure that their contractors are registered with EPFO before award of any contract or making any payments. EPFO provides relevant information in this regard to principal employers online.

A health care scheme called ECHS was formulated by Ministry of Defence for its ex-servicemen. The contractual workers of ECHS till now were deprived of the social security benefits under EPFO. The ECHS now has been brought under the ambit of the EPF Act. Ministry of Defence has issued necessary directions to the ECHS for enrolling their contractual staff. Similarly, all eligible workers engaged by contractors working with Military Engineering Services (MES) and Indian Railways have also being requested to ensure coverage of contractual employees under EPFO.

Towards continuous strive to bring increased conveniences and efficiency, a single page Composite Claim Form (Aadhar) replaces Forms No. 19 (UAN), 10C (UAN) & 31(UAN) for subscribers seeding their Aadhar number with UAN. This can be submitted without the attestation of employers. For subscribers who are yet to seed Aadhaar and Bank details with their UAN, a new Composite Claim Form (Non-Aadhar) replaces the existing Forms No. 19, 10C & 31.

In addition, a Composite Claim Form in death cases replaces the existing Forms No, 20, 5-IF and 10-D. The claimants can apply for claim of Provident Fund, Insurance Fund and monthly pension through this single page composite claim form in case of death of a member.

Friday, 13 January 2017

Provident Fund 19:25

EPF Statutory dues for the month of December can be paid by 20th January 2017

EPF Statutory dues for the month of December can be paid by 20th January 2017

Considering the issues arising out of stabilisation of the Unified Portal for employers with UAN Based simplified Electronic Challan cum Return filing system the remittance for the month of December 2016 can be paid by 20th January 2017.

The Portal was launched by EPFO on 23.12.2016, which helps in submission of UAN based returns and challans. It has been noticed that due to increased traffic on the portal, many employers have faced some difficulty in upfront allotment of UAN, connectivity/login issues, website slowing down and also unfamiliarity of the new processes. The Statutory dues are to be paid by 15th of every month.

Source:PIBNEWS

Wednesday, 2 November 2016

Provident Fund 08:34

Prime Minister Narendra Modi :Provident Fund claims in cases of death set to be settled in a week

Provident Fund claims in cases of death set to be settled in a week

The Employees’ Provident Fund Organisation (EPFO) has decided to settle PF money claimed after death of an employee within seven days from 20 days at present, in the wake of concerns raised by Prime Minister Narendra Modi last week about delays in settlement of EPF claims, especially in death cases.

“All death case claims submitted by spouse or nominee or legal heirs of EPF members be invariably settled within a period of seven days from date of submission of claim form in concerned field office where the deceased members accounts are being maintained,” Central PF Commissioner VP Joy said in a circular dated October 28.

Additionally, one officer will be trained in facilitation centre and deputed to specifically look after death case claims “with proper display in this regard made on the seat or counter “Please contact for death cases” in Hindi, regional language and English.”

Top priority

The circular said that all the death case claims will be given top priority and officers-in-charge at all EPF offices will personally monitor the death cases on day-to-day basis.

At present, it takes 20 days to settle all transfers and withdrawals by employees from Employees Provident Fund, Employees’ Pension Scheme and Employees’ Deposit Linked Insurance (EDLI) schemes governed by EPFO.

“However, it is often found that documents attached with the claim form is incomplete due to which the case is referred back to the claimant and it leads to delays,” Mr. Joy told The Hindu. “But we will try to settle the claims in case of death cases even in two-three days,” he said.

Source:The Hindu

Saturday, 15 October 2016

Provident Fund 21:38

Transfer of PF money gets easier

Transfer of PF money gets easier

The new declaration form (New Form No. 11) will replace the existing Form No. 11 (New)

Often, when people change jobs, they end up creating new employee provident fund (EPF) accounts, instead of transferring the old one to the new employer. Part of the reason for this was that employees found the transfer process complicated and preferred to open a new account instead.

In an effort to make it easier for subscribers to transfer their accounts, the Employees Provident Fund Organisation (EPFO) has introduced a new form to transfer the accounts. It is available on the EPFO’s website, for employers as well as employees.

Account Transfer

The new declaration form (New Form No. 11) will replace the existing Form No. 11 (New). (Your read it right. Seems EPFO is out of ways to identify the ‘new’ on this form!)

The form requires information about the previous employment and the know-your-customer (KYC) details.

According to the EPFO, it has been observed since the launch of Universal Account Number (UAN, which is allotted to employees by the EPFO), that multiple UANs were being generated by the subscribers.

The EPFO found this out because many UANs, allotted by the employers, were not being updated with the date of exit. Obviously, many EPFO members were creating new UANs when they changed jobs. Another reason for generation of multiple UANs is that, sometimes the declarations (for example: phone number or marital status) made to the old employer do not match those provided to the new employer. And, if such an employee does not know her old UAN number, a new one will be created.

Not only the newer form is simpler to fill, it is also available as an e-form on the EPFO’s website www.epfndia.gov.in.

Besides transferring the account, the new form can also be used for transfer of accumulated funds from the old accounts to the new one associated with the new employer.

Earlier, in order to transfer the funds from one organisation to another, an employee had to fill a separate Form No. 13. The process was complex and transfer of funds usually took a long time. Because of that many employee preferred withdrawal their funds rather than transferring them to new account.

The step to simplify the transfer process will help in bringing down the premature withdrawals too.

However, only those members who have been allotted UAN, and whose KYC details have been digitally verified by the previous employer, are exempt from filling the Form No. 13 separately.

So those who still don’t have their UAN, should generate it. If your existing employer is not cooperating, you can generate it on your on too. EPFO has given facility to get the UAN online from its portal http://uanmembers.epfoservices.in/.

At the end of September 2016, more than 28.9 million EPF members have activated their UAN on the UAN portal.

Tuesday, 23 August 2016

Lok sabha 18:45

Pledging PF to buy home may soon become a reality

Pledging PF to buy home may soon become a reality

NEW DELHI: Retirement fund body EPFO may soon introduce a scheme to allow its over 4 crore subscribers to pledge their provident fund to buy low-cost houses and use the account to pay equated monthly installments.

"We are working on a housing scheme for members of the Employees' Provident Fund Organisation (EPFO). Under it, members will be allowed to pledge their PF accumulations to buy homes," Labour Secretary Shankar Aggarwal told PTI.

He added that the proposal will be placed before the EPFO's Central Board of Trustees meeting expected next month. Once approved by the CBT, the scheme will be available for the subscribers.

Finer points of the scheme, as to what extent subscribers will be eligible to avail loans and what will qualify as a low cost house, are yet to be worked out.

Aggarwal further said: "We don't want to impose anything on the subscribers. Therefore, we will not buy land or build houses for them. They will be free to choose their own homes from the open market."

The panel had suggested this scheme for low income formal workers who are EPFO subscribers and could not buy a house during their entire service period.

Under the proposed scheme, there will be a tripartite agreement between member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.

Last year, the proposal for facilitating the EPFO subscribers to buy low cost homes was listed on the agenda of the CBT meeting held on September 16.

A report of an expert committee on housing facility for the subscribers was also presented to the trustees during the meeting.

The committee has unanimously recommended a scheme to facilitate subscribers to buy houses where they will get an advance from their PF accumulation and will be allowed to pledge their future PF contribution as EMI (Equated Monthly Instalment) payment.

The panel had suggested that subscribers will purchase a dwelling unit with loans from bank or housing finance companies and hypothecation of property in favour of the latter.

It was suggested the benefits under the scheme of Ministry of Housing and Urban Poverty Alleviation can also be extended to the beneficiaries of the scheme.

In May, Labour Minister Bandaru Dattatreya had told Lok Sabha in a written reply: "Government is exploring the possibility for providing a suitable low-cost housing scheme for subscribers of Employees' Pension Fund. It is in preliminary discussion stage."

Source:Economic Times

Monday, 2 May 2016

Provident Fund 08:30

Epfo Launches a Special Drive :Mission Consolidation”One Empployee-One Account” on May Day

Epfo Launches a Special Drive :Mission Consolidation”One Empployee-One Account” on May Day

A Software also Launched for Centralized Processing to Transfer and Consolidate Accounts with Ease

EPFO Greets the Human Engines of Nation - Our Labour Force on International Labour Day

Greeting workers on International Workers Day with the.Sh. Bandaru Dattatreya, the Union Minister for Labour & Employment (Independent Charge) launched a special Mission consolidation drive “One Employee-One EPF Account” for members of the EPFO.

Sh. Bandaru Dattatreya, on the occasion stated that in the recent past, EPFO has taken several IT based initiatives to provide convenient and efficient services to its stakeholders. The initiative of launching the Mission consolidation “One Member One EPF Account” is a step towards encouraging EPF members to access enhanced IT enabled services through UAN accounts that are linked with Aadhaar.

Sh. Dattatreya also informed this drive, would result in EPF members having just one EPF account and multiple conveniences. The Universal Account Number that is Aadhar seeded will consolidate multiple past service accounts, across various spells of employment during working life of an EPF member.

Sh. Shankar Aggarwal, Secretary (Labour & Employment) elaborated that the EPF member would be requested to provide all his earlier EPF accounts along with his UAN linked account, Member ID and registered Mobile Number. And EPFO would facilitate the transfer of all these accounts into his present account. Instructions have been issued to establishments that in case any new employee joins an establishment, they may furnish, UAN, if any, allotted to the member earlier, or declare that s/he is becoming a PF member for the first time.

Dr. V.P. Joy, Central Provident Fund Commissioner added that the success of this drive would reduce not only the burden of members but would also result in ease of work for EPF employees. Similar to other IT initiatives taken by EPFO that have brought transparency and efficiency in the working of EPFO, the success of this drive would further strengthen the bond between EPFO and EPF members. By the end of April 2016, UAN has been issued to some 67716584 members

To educate workers and strengthen the cause of social security, EPFO today launches a special drive to encourage EPF members to consolidate their multiple accounts. The members whose accounts are scattered face many inconveniences such as approaching multiple employers located at multiple locations for settlement of claims. They also face the inconvenience of keeping record of multiple scheme certificates issued in the process. To know about the updated EPF balances, they need to approach multiple offices. With consolidation, a member can have complete control of his EPF account apart from accessing variety of IT enabled services such as email/sms alerts, access to e-pass book etc.

EPFO has been advising members to link all their PF account numbers with the UAN and to also seed KYC data against their UAN number. Aadhaar has been uploaded against 1.30 crore UAN, out of which 1.03 crore Aadhaar have been digitally authenticated by the establishments. The establishments are advised to upload and then digitally authenticate the KYC information. KYC primarily means Aadhaar, PAN and Bank Account. With the enactment of Aadhaar Act, 2016 (26th March 2016), EPFO is now seeking to make Aadhaar, the primary identifier. Members having Aadhaar seeded UAN, saves the inconvenience of claims forms attestation by the employers.

Explaining the benefits of integration of members’ multiple PF accounts Dr. Joy said that consolidated accounts enable continuance of lifelong PF membership, and allow PF, pension and insurance benefits on combined service. Today, large number of members are unaware of Pension benefits that can come through consolidation, defeating the very soul of the EPF legislation. EPFO therefore seeks to encourage members to continue their PF membership by offering increasingly better services and ease of convenience. Larger aim is to help members to upgrade their quantum and variety of benefits being offered by EPFO.

In order to boost the process of seeding the Universal Account Number (UAN) with KYC, an “Incentive Scheme” has been launched for the employers. Under this scheme a claim refund of upto 10% of administrative charges payable to EPFO can be claimed upon completing specified tasks (furnishing member information and digitally authenticated KYC details). The Scheme shall be in operation for one year, beginning 1st January 2016 to 31st December, 2016

This drive will run for one year. During this drive following actions will be taken by EPFO:

· Run a Publicity campaign at regular intervals in Print, electronic and digital media

·A software has been launched today for centralized processing that will transfer and consolidate accounts with ease.

Features of the software are:

·A member has to provide his current activated UAN along with the current member ID & Mobile number registered at UAN Member portal.

·On validating these credentials, EPFO will facilitate the member to register his/her as many as 10 earlier EPF accounts.

·The earlier PF member IDs provided by members will be forwarded to EPFO field office to which earlier member ID pertains. The information provided to field offices will also include current member ID & Mobile number of the member, so that the members can be contacted and facilitated to consolidate his previous EPF Accounts to the Current EPF Account.

·Wide publicity will be given to make use of “Inoperative Help Desk” that helps an EPF member to integrate/ settle such accounts.

·An electronic de-duplication process to be carried out by EPFO.

·“EPFO-E-samkisha” software that is launched to be used for monitoring and implementation of the programmme.

Features of E samiksha software are:

· EPFO e-Samiksha is a real time, online system for follow-up action on the decisions taken.

·The follow up action will be required to be updated by the offices continuously and the status can be viewed centrally.

·Business divisions and the field offices can securely access the system through a log-in/password.

·This system can also be configured to review the follow up actions in respect of other meetings, if require.

Source:PIBNEWS

Sunday, 1 May 2016

seventh pay commission 14:52

7th Pay Commission: Govt flip-flop on EPF may lead to strike on July 11? Employees want higher pay

7th Pay Commission: Govt flip-flop on EPF may lead to strike on July 11? Employees want higher pay

New Delhi, April 29: The flip-flops by Union government on the revised EPF withdrawal norms has emboldened the government employees for nationwide protests. If reports are to be believed then, the central government employees are planning to strike work on July 11 so that they get higher wages and allowances under the 7th Pay Commission.

According to a Zeenews report, "First, under the public outlash, the government withdrew the budgetary proposal to make 40 percent of the EPF corpus taxable. Now, under the protest of garment factory workers in the Bangluru area, central government again withdrew its February 10 notification which prevented an employee from withdrawing 100 percent of the EPF corpus before the age of 58 years." "This labour movement of the garment workers of Karnataka state is an eye-opener for all the other working class in the entire country,"said PS Prasad, Secretary General, Confederation of Central Government Employees and Workers Karnataka State was quoted as saying in the Zee report. "If the Central Government employees also participate in trade union action against the retrograde recommendations of the VII CPC similar to the Garment Workers of Karnataka, we too can get similar results and hope for a better wage revision and a decent wage hike", Prasad was further quoted as saying. Thousands of garment workers, mostly women, staged protests against curbs on withdrawal of provident fund (PF) before attaining the age of 58 years, especially the amount contributed by the employer with government interest. According to police estimates, a record one lakh workforce from other factories and firms across the city assembled at Bommanahalli industrial area in the south and Peenya industrial area in the north to demonstrate against the PF withdrawal norms.

Source:One India

Monday, 25 April 2016

Provident Fund 19:01

Employees Contributions to EPF

Employees Contributions to EPF

As per the Audited Consolidated Annual Accounts of Employees’ Provident Fund Organization (EPFO) for the year 2014-15, the closing balance of Funds managed by EPFO is Rs. 6,34,174.33 crore.

Regarding EPFO being the eleventh largest pension fund in the world, no such information is available with EPFO.

The fresh accruals in 2015-16 in the three Schemes framed under the Employees’ Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952 as per the revised estimates is Rs. 1,01,538.54 crore.

The revised estimates for the year 2015-16 are projected to be 13.81 per cent higher than the Budget estimates. The details of revised estimates of the three Schemes are as under:

(i) Employees’ Provident Funds (EPF) Scheme, 1952 : Rs. 71,398.25 crore

(ii) Employees’ Pension Scheme (EPS), 1995: Rs. 29,000.00 crore

(iii) Employees’ Deposit-Linked Insurance (EDLI) Scheme, 1976: Rs 1,140.29 crore.

This information given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in reply to a question in Lok Sabha today.

Saturday, 12 March 2016

Provident Fund 07:20

EPFO launches an incentive scheme for employers to encourage partnership in allotment of universal account number (UAN) to their employees

EPFO launches an incentive scheme for employers to encourage partnership in allotment of universal account number (UAN) to their employees

Employers can get refund upto 10% of administrative charges payable to EPFO under a new incentive scheme

EPFO, Head Office, New Delhi: In order to boost the process of seeding the Universal Account Number (UAN) with KYC (e.g PAN, bank account details, Aadhar) that enables enhanced services from EPFO, an “Incentive Refund Scheme” has been launched. The Scheme shall be in operation for one year beginning 1st January 2016 to 31st December, 2016.

The employers can now claim upto 10% refund of administrative charges on fulfilling certain criteria relating to UAN in respect of its contributing members. The refund as per the scheme comes in two categories:-

Incentive Refund Scheme A

Claim 10% refund of administrative charges by:-

(i) Providing member’s details as required under Form No. 11 (New) (80% or above)

(ii) Seeding of all the three i.e AADHAR (atleast 80% of (i) above, bank account (100% of (i) above) and PAN (wherever applicable).

(iii)UAN activation (100% of (i) above)

Incentive Refund Scheme B

Claim 5% refund of administrative charges by:-

(a)Providing member’s details as required under Form No. 11 (New) (60% or above).

(b)Seeding of all the three i.e AADHAR (70% of (a) above, bank account (80% of (a) above) and PAN (wherever applicable).

(c)UAN activation (60% of (a) above).

Only such establishments that have in each month of the quarter achieved the criteria for qualification can avail the incentive of 5% or 10% by way of refund at the end of every quarter starting from quarter ending March, 2016.

Already 6.38 crore UAN numbers have been allotted by EPFO. Seeding of UAN with KYC details including Aadhar, bank details is a priority area for EPFO. This is being carried out in full swing. More than 2.44 crore members have activated their Universal Account Number and are able to access enhanced services like downloadable dynamic UAN card, updated details of PF accounts, auto trigger of transfer request while changing employment etc. The incentive scheme aims to improve service delivery to those who need the most. It is now possible for employers to submit UAN based claims directly to PF offices, without attestation of the employers.

Source:PIBNEWS

Thursday, 4 February 2016

Jeevan Pramaan 10:09

Digital Life Certificate -Jeevan Pramaan- A Hit With Pensioners

Digital Life Certificate -Jeevan Pramaan- A Hit With Pensioners

Press Information Bureau

Government of India

Ministry of Communications & Information Technology

02-February-2016 15:00 IST

Jeevan Pramaan- A Hit With Pensioners

Jeevan Pramaan (https://jeevanpramaan.gov.in/) provides a big relief to all pensioners. A pensioner can now digitally provide Annual Life Certificate to the authorities for continuity of pension instead of presenting himself physically or through a Life Certificate issued by specified authorities every year. Lakhs of pensioners on various schemes are already benefiting from it.

Launched by the Prime Minister on 10th Nov 2014, nearly 12.5 Lakhs pensioners have registered for Digital Life Certificate (DLC) in about a year. Interestingly the enrolled pensioners come from different districts of the country showing the interest the facility has generated all over the country including in far flung rural and hilly districts. Started with Civil pensioners of Central Government only, several other pensioner schemes have adopted Jeevan Pramaan and provide this facility of Digital Life Certificate to these pensioners. Presently apart from civil Central Government employees, Defence services, Employees’ Provident Fund Organization (EPFO), Post Offices, Railways, Defence Pensioners Disbursement Office (DPDOs), several PSUs including Mumbai Port Trust, Chennai Port Trust and New Delhi Municipal Council are providing this service.

State Governments have also recognized the potential of Jeevan Pramaan and adopted the service. State Governments of Haryana, Himachal Pradesh, Telangana, Madhya Pradesh, Maharashtra, Punjab, Pondicherry, Odisha, Andaman & Nicobar, Rajasthan and Jharkhand have already started providing these services.

Jeevan Pramaan service is provided by NIC through a Central Portal developed on Open source. The platform is highly scalable. Developed using in-house manpower, the portal has been developed and maintained free of cost to all the user agencies and is also free for pensioners.

In Jeevan Pramaan a pensioner can digitally show that he or she is alive using his/her biometrics. Biometric devices are available in CSC’s, Bank branches, Pensioner associations, Govt. offices etc. More over any citizen can also purchase a finger print scanner and do the identification from home. A typical finger print scanner currently costs around Rs. 2600/- only and the prices are expected to come down in future. The usefulness of Jeevan Pramaan will increase even further as the biometric authentication device gets integrated with mobile phones.

All pension disbursing organizations, which have a requirement of periodic life certificate to continue disbursing pension are welcome to join this free offering.

For more details they are required contact Ms Nandita Chaudhri, DDG, NIC (Email: )

Monday, 11 January 2016

News 10:49

EPFO’S Claim Settlement Crosses 90 Lakhs in the Current Fiscal EPFO Introduces UAN Based Simplified Claim Forms more than 2 Lakh Grievances Resolved by EPFO

EPFO’S Claim Settlement Crosses 90 Lakhs in the Current Fiscal EPFO Introduces UAN Based Simplified Claim Forms more than 2 Lakh Grievances Resolved by EPFO

While taking stock of the performance of EPFO in the month of December it has been noted that for the period April to December 2015, EPFO settled 90.6 lakh claims. Out of this 40% was settled within 3 days and close to 80% within 10 days. More than 96% of the claims were settled within the stipulated 20 day period.

In a major policy decision the Finance Investment and Audit Committee (FIAC) of the CBT, EPFO approved the accounting policy and method of accounting for equity and related investments. This decision is taken with a view to bring procedural clarity and also to serve as a guide to the various exempted establishments who also have to now invest 5% of their corpus in the equity market as per government guidelines

Dissemination and activation of Universal Account Number (UAN) was given renewed emphasis during the month and it has been decided to hold special camps in industrial clusters across the country for the benefit of employers and employees. Also a running mechanism of information exchange with jurisdictional Labour Commissioners is also envisaged for procuring information relating to new employees eligible to be enrolled under the schemes run by EPFO. Also a facility has been launched for upfront allotment of UAN to employees under which an employer can generate UAN for their employees themselves. Further, UAN based simplified forms have been introduced using which a member can file his PF claim by giving the bare minimum required details without the employer’s attestation or intervention. This facility is available to those members whose UAN is activated and their KYC details including AADHAR and BANK ACCOUNT have been digitally authenticated beforehand by the employer.

EPFO had earlier in 2014 introduced online registration of establishments with the Organisation doing away with a lot of paperwork and contributing to greater ease of doing business in the country. Going a step further, it has been decided to introduce digital signature based authentication by the employer at the time of submission of online application requests. This would totally eliminate the requirement of Enforcement Officers’ visit to the establishment for verification and thus would result in hassle free business environment for the establishment to function.

Sh.K.K.Jalan, Central PF Commissioner stated that grievance redressal has always occupied the centrestage as more than 20,000 thousand grievances were redressed during the month and only 2,461 grievances were pending. It is noteworthy that more than 80% of these grievances were pending for less than 7 days. In the calendar year 2015, EPFO was able to redress a total of 2,03,288 grievances.

Taking a step to bring EPFO closer to its clients, EPFO has made its presence felt on Social Media, the official Facebook and Twitter pages of EPFO were launched in the month of December 2015 by the Minister of State, (Independent Charge), Labour & Employment, Sh. Bandaru Dattatreya on the occasion of Good Governance day on 25 December 2015.

The pages are accessible at www.facebook.com/socialepfo and www.twitter.com/socialepfo

Source:PIBNEWS

Sunday, 18 October 2015

Provident Fund 06:51

Within three hours of application Provident Fund (PF) of the sum in your account!

Within three hours of application Provident Fund (PF) of the sum in your account

NEW DELHI: Good news for fund subscribers. Within three hours of application Provident Fund (PF) of the sum in your account!

Yes. Fund an amount that you can apply for no gain, no matter the record, when the body does not have to dinagattale that the money comes from. Because the facility will begin in the end of March online PF withdrawal. Similarly, anlai nnalli to apply, within three hours, and did not take into account your PF money. About 5 million subscribers across the country, the Employees Provident Fund Organisation (EPFO) has decided to provide this facility.

Aadhar cards to beneficiaries of government programs, including the Fund can be used to willingly gave guruvaravaste Supreme Court judgment. The following EPFO has announced its online PF withdrawal system. The proposal has already been submitted to the Ministry of Labor, an online system to allow core. PF has to apply in writing to the applicants.

Sandayavaguttittu to 20 days after application. However, the sum of the new system in just a few hours, the employee's PF account that the Fund will deposit directly to the Commissioner KK Jalan said. At the same time, online PF facility takers yueen their Aadhaar numbers (Unique Account Number) you need to link with.

Source :http://www.kannadaprabha.com/business/epfo-eyes-online-provident-fund-withdrawal-facility-by-march-end/261419.html

Wednesday, 9 September 2015

welfare of labour 07:55

EPFO mulls further reduction in admin fee charged from firms

EPFO mulls further reduction in admin fee charged from firms

In a move that could substantially reduce the financial burden of around 800,000 employers, the Employees' Provident Fund Organisation (EPFO) is considering a further cut in the administrative fee it charges companies. The industry has called for a reduction in the administrative fees as this is a part of the employers' contribution towards the EPFO.

The EPFO is planning to reduce the administrative fee from 0.85 per cent to 0.65 per cent of the monthly basic salary. The Union labour ministry had already reduced the administrative charges from 1.10 per cent to 0.85 per cent with effect from January this year.

"As the services of EPFO improve with changing technology, a case is made out to reduce the administrative fee. We are in discussion to reduce it to 0.65 per cent of the monthly salary," said Central Provident Fund Commissioner K K Jalan. However, the move will need the approval of EPFO's apex decision-making body, the Central Board of Trustees (CBT). The CBT is scheduled to meet on September 16 in Hyderabad. However, this proposal is not a part of the agenda as yet.

Industry representatives had requested the Union labour ministry recently to reduce the administrative charges. "While reduction in the administrative charges will not bring any adverse impact to the social security benefits of employees, it will be a huge relief to the employers, which is very important in the present competitive environment," said a letter by G P Srivastava, chief advisor, Associated Chambers of Commerce and Industry of India. The industry has, however, demanded a reduction to 0.5 per cent of the basic salary from the present 0.85 per cent.

EPFO mulls further reduction in admin fee charged from firms According to sources, EPFO employees are usually apprehensive of the move as the fund collected through this fee is used to pay their salary. Apart from this, the fund is also utilised for expenditure on maintenance of its infrastructure, bank commission and also to pay the portfolio managers EPFO hires to manage the fund. In 2014-15, the EPFO had earned around Rs 5,000 crore through administrative charges.

Allaying these concerns, an EPFO official said: "The reduction will have no impact on the salaries of the employees and on other expenses at all. The collection of administrative fees is in surplus."

According to EPFO's balance sheet, it collected Rs 5,015 crore through administrative charges from employers, but the actual expenditure stood at Rs 1,766 crore thereby leaving a surplus of Rs 3,249 crore. Despite a cut in the administrative fees, the EPFO was able to collect more funds than in 2013-14, when its contribution stood at Rs 4,176 crore.

Source :Business Standard

Sunday, 9 August 2015

EPFO Employees 17:04

The Minister had said EPFO will initially put only 5 per cent of its incremental fund flow (around Rs 5,000 crore) but the cap could be raised to 15% next year.

The Employees Provident Fund Organisation (EPFO), which has started investing in equities, would pump in about Rs 5,000-6,000 crore in this asset class by the end of current fiscal and further flow will depend on market returns, a Union Minister said on Saturday.

The state-run pension fund's Central Board of Trustees (CBT) would be asked to speed up the investment process, Union Minister of State for Labour Bandaru Dattatreya said here.

"For the first time, EPFO has taken this new initiative.

Through Exchange Traded Funds, we are going to have participation under equity class. The process has already begun.

"Our portfolio managers, the SBI and others, they are on that job. Our Ministry has also formed some guidelines. With those guidelines and every month, we are progressing," he said.

"By end of this financial year (FY16), approximately Rs 5,000-6,000 crore will be in the markets. After that financial year, we will review the situation, how the things are going on, how the markets are giving benefits, then we will take further decisions," he told PTI here.

Dattatreya expressed confidence that the process of investment in equities would give higher returns with the investments by EPFO being made with a long-term perspective.

"Our Central Board of Trustees (CBT) are there. I will definitely talk to them. This pattern of investment is long-term. In the long-term, equity participation will definitely get good results.

"Yesterday, I had lot of discussions in Mumbai also. A lot of people are welcoming (the initiative). This is a slow process. In the month of January and this month also, we wanted to call a CBT meeting, apprise them about situation and speed up the process," he said.

Marking its maiden entry into stock market, the retirement fund body on August 6 announced its first equity investment through Exchange Traded Funds benchmarked to key indices Sensex and Nifty and promised to invest more than the current limit of Rs 5,000 crore from the next year.

The first investment would be made through SBI Mutual Fund's two index-linked ETFs - one to the BSE's Sensex and the other to NSE's Nifty.

The Minister had said EPFO will initially put only 5 per cent of its incremental fund flow (around Rs 5,000 crore) but the cap could be raised to 15% next year.

Source: DNAINDIA.

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