The embattled UPA government is set to give a bonanza to 60 million workers in the organised sector. The minimum monthly pension for members of the Employees’ Provident Fund (EPF) could soon increase to Rs 1,000. Currently, most EPF pensioners receive less than Rs 500 a month, but for some it is as low as … Read more
A Parliamentary panel today asked the Central government to increase the rate of return on provident fund for its employees in the light of rising bank rates and EPFO’s decision to hike its rate to 9.5% for 2010-11. "The rate of interest on General Provident Fund (GPF) which is pegged at 8% may be reviewed … Read more
No.: Coord/4(6)2003/Clarification/Vol-II/ Dated: 23-05-2011 Sub: Splitting of Minimum Wages for the purpose of PF contribution not permissible. Sir, Attention of all concerned is invited towards this office circular no. Coord./4(6)2003/Clarification/13633 dated 06.06.2008 vide which it was advised to ensure that P.F. Contributions on at least Minimum Wages are remitted by the establishments. It was also … Read more
EPFO to seek legal view on nationwide implementation: HC Retirement fund manager EPFO will seek the legal opinion on implementation of the order of the MP High Court throughout the country under which employers and employees will be required to increase their contributions to the provident fund. "We will seek legal opinion and also … Read more
ATTENTION EMPLOYERS EXEMPTED UNDER SECTION 17(2A) OF THE EPF & MP ACT,1952 UNDER EDLI SCHEME 1976 The Govt. of India. Ministry of Labour & Employment vide Notification No.GSR 9 (E) dated 08.0 1.2011 has amended the EDLI Scheme, 1976 as fòllows: In the Employees’Deposit Linked Insurance Scheme.1976, in paragraph 22, after sub-paragraph(2), the following sub-paragraph … Read more