Amendment in Employees Pension Scheme 1995

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Dear all,There is an  Amendment in Employees Pension Scheme 1995 where in the Provision of Orphan Pension which was earlier up to age 25 years has been increase  beyond age of 25 years in case if such Orphan is suffering from disorder of mind or is Physically crippled or disable Notification:- Pension_GazetteNotification_GSR387(E)_8314

Employee Deposit Link Insurance Scheme Amendment 2016

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The Government of India has finally implemented the decision of increasing the maximum sum limit assured under insurance scheme of retirement fund body Employee Provident Fund Organisation, popularly termed as EPFO, to 6 lakh rupees. This would almost double the maximum sum for its 4 crore subscribers. The decision was, however, taken long back in September… Read more »

New PF Facility Launched For Easy Balance Transfer: Your 10-Point Guide

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Many employees forget to transfer the balance from their previous provident fund (PF) accounts when they change jobs. Some of them even withdraw the money from PF account. Since PF is meant for one’s retirement years, financial experts suggest that the accumulated savings should not be withdrawn during one’s working years. To encourage employees consolidate… Read more »

EPFO to give interest on inoperative Accounts

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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 »

Petitioning Employee Provident Fund Organization Central Provident Fund Commissioner

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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 »

Indian Government puts limit on early withdrawal from provident fund

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Dear all  As per my earlier blog as in regards to Major 3 Latest Amendments In EPF And EDLI pls find the details in brief:- =========================================================== In brief The Ministry of Labour and Employment, Government of India, has made a few amendments in the Employees’ Provident Fund Scheme, 1952 (PF Scheme). These are effective from 10 February 2016. Key… Read more »

Interest on provident fund deposits likely to increase to 9% on February 16

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Retirement fund body Employees’ Provident Fund Organisation​ (EPFO) may announce 9% interest rate on provident fund (PF) deposits for 2015-16 in its trustees’ meet on February 16, higher than 8.75% provided in previous two financial years Retirement fund body Employees’ Provident Fund Organisation​ (EPFO) may announce 9% interest rate on provident fund (PF) deposits for… Read more »