Monthly Archives: March 2016

EPFO all set to review withdrawal norms

Posted by & filed under Provident fund -News.

The Employees Provident Fund Organisation (EPFO) board will next month review a decision to restrict withdrawals amid widespread criticism. On Tuesday, union representatives flagged the concern at the meeting of the central board of trustees and suggested that the move should be rolled back, said two sources who attended the deliberations.  “The intent was different… Read more »

EPFO to give interest on inoperative Accounts

Posted by & filed under Provident Fund Benefits.

Reversing a five-year-old decision, the Employees’ Provident Fund Organisation’s top decision-making body, the Central Board of Trustees, has decided to pay interest on all inoperative EPF accounts from April 1 onwards. Inoperative EPF accounts are those that have not received any contribution from employees or employers for 36 months. The move will benefit 90 million… Read more »

TEA urges rollback of EPFO amendment

Posted by & filed under Uncategorized.

Tirupur Exporters’ Association (TEA) today urged the Union Labour Ministry to rollback the amendment stating that employers’ contribution withdrawal could only be done when the employee was 58 years, in the Employees’ ProvidentFund Organisation (EPFO). In a letter to Minister Bandaru Dattatreya, TEA president A. Shaktivel said that the amendment has created ripplesin Tirupur knitwear… Read more »

Petitioning Employee Provident Fund Organization Central Provident Fund Commissioner

Posted by & filed under Provident Fund Benefits.

Dear Employee Provident Fund members, The Employee Provident Fund Organization, which manages the EPF money, recently issued a notification amending the EPF Act to restrict the withdrawals from employee provident fund to the extent of only employee contributions and the interest on it until retirement. What this also means is that, the employee will not… Read more »

SOCIAL SECURITY AGREEMENT WITH THE REPUBLIC OF AUSTRALIA

Posted by & filed under Provident Fund -International workers.

The Government of India has entered into an Agreement on Social Security Agreement with Australia. Following the principles of reciprocity this, agreement is intended to benefit the employees of both India as well as the Australia. The agreement has come into force w.e.f 01-01-2016 The Agreement provides inter-alia for posting i.e. detachment up to a… Read more »