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| 30 November, 2020, 03:36 PM IST | E-Paper
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    EPFO launches WhatsApp helpline service

    This initiative will allow the PF subscribers to interact directly with EPFO's regional offices on a personalised level adhering to one-to-one guidance principle. WhatsApp helpline is now functional in all the 138 regional offices of EPFO.

    EPFO redeeming ETF investments?

    If the market continues to be at elevated levels, more redemptions from EPFO are likely. That is not good news for the bluechips.

    EPFO extends deadline to submit life certificate by pensioners till February 28

    "In view of the ongoing COVID-19 pandemic and the vulnerability of elderly population to coronavirus, the Employees' Provident Fund Organisation (EPFO) has extended the time limit up to 28th February 2021 for submission of Life Certificate (Jeevan Pramaan Patra-JPP) in respect of the Pensioners drawing pension under EPS 1995 (Employees' Pension Scheme-1995) and whose Life certificate is due in any month till February 28, 2021," a labour ministry statement said.

    'EPFO to try and pay 8.5% interest at one go'

    EPFO will make “every effort” to pay the 8.5% interest to its subscribers for 2019-20 at one go . This latest view comes day after the central board of trustees of the fund which met on Wednesday decided to recommend to the finance ministry that the interest rate should be paid in two tranches.

    EPFO to credit 8.5% interest on EPF for FY20 in two installments

    EPFO on Wednesday (September 9) decided to credit a part of 8.5 per cent interest on employees provident fund (EPF) for 2019-20 into the account of its around 6 crore subscribers in a Meeting of the Central Board of Trustees of EPF held via virtual conferencing. The remaining 0.35 per cent rate of interest on EPF for 2019-20 would be credited into the subscribers account in December this year, the board further said.EPFO to credit 8.5% interest on EPF for FY20 in two installments

    EPFO moots 8.5% interest payout in 2 instalments

    The government-managed fund has recommended that 8.15% interest, from its income from debt investment, be credited immediately into the accounts of its 50 million subscribers. The balance 0.35% will be paid in December, from the sale of investment in exchange-traded equity funds, it said.

    EPFO adds 14.9 lakh net new subscribers in September; quarterly addition at pre-Covid levels

    The net payroll addition for the second quarter of FY’21 stood at 30.34 lakh, which is approximately equal to payroll figures of second quarter of FY’20. “This indicates a robust recovery to pre Covid-19 levels,” the organisation said.

    EPFO dismisses reports about fall in number of subscribers, contributing firms in October

    The EPFO has emphasised that the dataset published regarding contributory members and establishments does not match with the official data of the organisation for any of the wage months mentioned.

    Plans afoot to bring two schemes under EPFO

    ​​The discussions are currently underway on whether the EPFO need to float an entirely new scheme to extend its coverage to individuals or bring the two schemes within its fold.

    EPFO subscribers up 45 lakh in FY21, big indicator of job creation: Apurva Chandra, Labour Secretary

    If you look at the EPFO payroll data since February, it showed there was a loss of employment in April and May. Since then, EPFO has seen net additions in subscribers, says Apurva Chandra.

    ET Edit: EPF should diversify its asset classes

    The EPF corpus is large enough to diversify asset classes and achieve the right trade-off between risk and return. It can also set up a special situations fund to invest in distressed assets being turned around. The point is to mitigate risk by investing across asset classes.

    EPFO updates KYC details of 73.58 lakh members in Apr-Jun

    Further, to enable KYC seeding on such large scale, the Employees Provident Fund Organisation (EPFO) has also undertaken massive exercise of rectifying the demographic details of subscribers even during the lockdown phase.

    EPFO records 3.2 lakh new accounts in May

    The net new enrolments with the EPFO had dropped to 5.7 lakh in March 2020 from 10.2 lakh in February, according to the payroll data released in May. The net new enrolments with the EPFO hover around 7 lakh every month on an average.

    Spike in internal remittance, new EPFO registrations indicate recovery: Report

    Similarly, according to the payroll data from the Employees' Provident Fund Organisation (EPFO), during April-August 2020, 25 lakh new EPF subscribers have joined, of which 12.4 lakh were first-time payroll entrants.

    EPFO settles 149.3 lakh claims; disburses over Rs 55,000 crore

    “Innovative measures like auto-settlement mode and multi location claim settlement have ensured that most of the Covid-19 claims are settled within three days despite severe restrictions on full deployment of staff,” EPFO said in its letter dated November 20 to the members of the central board of trustees.

    EPFO launches multi location claims settlement facility

    All types of online claims, i.e., provident fund, pension, partial withdrawal and claims and transfer claims can be processed under this novel initiative.

    EPFO provides pensioners multiple options to submit digital life certificates amid pandemic

    In the current scenario of COVID-19, the Employees' Provident Fund Organisation (EPFO) has facilitated multiple options for EPS-95 pensioners to submit their DLC close to their home or at their doorstep, the ministry said in a statement.

    EPFO records 10.05 lakh new enrolments in August

    Latest data released on Tuesday showed that net new enrolments in April were in the negative zone at (-) 1,04,608 against the figure of (-) 61,807 released in September. This means that the number of members who exited the EPFO subscription was more than those who joined or rejoined the scheme.

    EPFO added just 1.33 lakh net subscribers in April

    April was the first month of the nationwide lockdown imposed to prevent the spread of Covid-19 as a result of which all industries and establishments were shut down during this period, extending to May and June though it was partial in the third month.

    EPFO adds 1.39 crore subscribers in last two fiscals

    "Recently published provisional payroll data by the EPFO highlights the ever growing trend of increasing subscriber base for EPFO, since the collation of payroll data from September 2017," the Ministry of Labour & Employment said in a statement.

    EPFO cuts back on debt, equity play as lockdown hurts inflows

    The fund is estimated to have halved its investments to about 5,000 crore since May

    How to use EPFO WhatsApp helpline to resolve your EPF account problems

    In order to provide more facilities to an EPF member to resolve his/her complaints, the retirement fund body, EPFO, has launched WhatsApp helpline number. However, each regional office has its own dedicated WhatsApp helpline number. Here's how to use this facility.

    Pensioners can now submit life certificates at common service centres: EPFO

    In addition to CSC centers, EPS pensioners can continue to submit jeevan pramaan through 135 regional offices and 117 district offices and pension disbursing banks.

    EPFO is settling coronavirus-related withdrawal claims in three days: Here's how

    Artificial Intelligence is playing a major role in bringing down the withdrawal time from the usual requirement of 10 days.

    AITUC seeks labour minister's intervention against alleged malafide campaign to reduce EPF interest rate

    The AITUC shot off a letter to Gangwar on July 29, after a report suggested that there were withdrawals to the tune of Rs 30,000 crore in April-June this year during the coronavirus-related lockdown.

    EPFO updated KYC data for 52.62 lakh subscribers in April, May

    This includes Aadhaar seeding for 39.97 lakh subscribers, mobile seeding (UAN activation) for 9.87 lakh subscribers and bank account seeding for 11.11 lakh subscribers, the Employees’ Provident Fund Organisation said in a statement on Wednesday.

    September registers creation of highest number of formal jobs in this fiscal

    The payroll data of the ministry of statistics and programme implementation, released on Wednesday, shows rise in numbers of EPFO, ESIC and NPS subscriptions.

    Nov FPI investment may equal aggregate inflows of last 2 years: Nilesh Shah, Kotak AMC

    Calendar 2019 witnessed total inflows of Rs 1,01,122 crore while Calendar 2018 saw FPI outflows of Rs 33,014 crore. Net inflows for last two years stood at Rs 68,108 crore. This month, FPIs have already infused Rs 48,278 crore so far.

    EPFO may slash FY20’s interest rate; payout of 8.5% unlikely as PF contributions fall

    EPFO may cut 8.5% rate declared for FY20 because of declining return on investments and cash flow.

    EPFO to disburse restored pension from next month

    The move will benefit 6,30,000 pensioners every month, although it will cost the government Rs 1,500 crore at a time when it is facing a resource crunch due to the Covid-19 virus outbreak and the related nationwide lockdown that has hurt the economy.

    Govt plans to bring voluntary pension scheme for small traders, unorganised workers under EPFO

    “We are looking at bringing the Pradhan Mantri Shram Yogi Maandhan for unorganised workers and the National Pension Scheme for traders and self-employed persons under the administrative control of EPFO,” an official aware of the deliberations told ET.

    EPFO settles 36.02 lakh claims worth Rs 11,540 crore in April-May

    Out of this, 15.54 lakh claims, which saw disbursement of Rs 4,580 crore to claimants, were related to the recently introduced COVID-19 advance under Pradhan Mantri Garib Kalyan Yojana (PMGKY).

    EPFO records 8.45 lakh new enrolments in July

    Provisional payroll data released by the EPFO shows net enrollment in June have been revised down to 4.83 lakh compared to 6.55 lakh in June shown last month.

    EPFO allows employers to register digital signatures via e-mail

    EPFO is of the view that due to lockdown, many employers are facing difficulties to send the one time registration requests to the regional offices in the existing scenario.

    Stimulus 3.0 signals a cautious approach towards economic recovery

    As per the recent estimates of RBI, GDP growth rate for Q2 would be at -8.6 percent, pushing the economy to a recessionary phase. In such a scenario, strong measures are needed to guide the economy to a recovery path.

    EPFO disburses Rs 868 crore of pension along with Rs 105 crore arrears for commutation

    The government, had, in February this year notified the restoration of full pension after 15 years of retirement for pensioners who have commuted part of their pension at the time of retirement.

    Atmanirbhar Bharat Rozgar Yojana: Job plan may have a tough job to do

    The ceiling will exclude employers from benefiting from the subsidy for jobs that pay even slightly more than ₹15,000 but well within wage range for lower-end jobs in manufacturing and services sectors.

    Net new enrollments with EPFO dip to 5.72 lakh in March from 10.21 lakh in February

    The data also showed that during September 2017-March 2020 period, the number of net new subscribers was around 1.55 crore. The net new enrollments with EPFO was 15.52 lakh during September 2017-March 2018.

    3.31 lakh PF withdrawal claims processed in 15 days: EPFO

    Government had notified the special withdrawal provision from the EPF Scheme on March 28 to tide over the COVID-19 pandemic as part of the Pradhan Mantri Garib Kalyan Yojana (PMGKY) package.

    EPFO extends challan filing date for employers by a month to May 15

    "The employers disbursing the wages for March 2020 not only get relief of extension of due date for payment of EPF dues for March, 2020 but also avoid liability of interest and penalty, if they remit on or before May 15, 2020," EPFO added.

    Advance pension amounting to Rs 764 crore under EPS disbursed in April: EPFO

    "All 135 field offices of EPFO processed pension payment for April, 2020 in advance to avoid inconvenience to pensioners on account of nation wide Covid-19 lockdown," EPFO said in a statement.

    Lockdown: EPFO not charging penalty from cos for delay in payment of provident fund dues

    Earlier on April 30, the EPFO allowed employers to file monthly EPF returns without making simultaneous payment of dues, which gave a relief to about 6 lakh firms amid the lockdown.

    Don't cut salaries or resort to layoffs: EPFO appeals to employers

    New Delhi: Amid the ongoing lockdown imposed to contain the transmission of coronavirus, which has forced companies to halt operations temporarily or ask employees to work from home, the retirement fund body Employees' Provident Fund Organisation (EPFO) has requested employers for neither cutting salaries of employees nor laying them off.Don't cut salaries or resort to layoffs: EPFO appeals to employers

    Exempted PF trusts disburse over Rs 481 crore under PM Garib Kalyan Yojana

    Under the scheme, notified on March 28, members can avail non- refundable withdrawal to the extent of the basic wages and dearness allowances for three months or up to 75% of the amount standing to the member’s credit in the EPF account, whichever is less, to tide ove the financial crisis emerging out of COVID-19.

    Coronavirus impact: EPFO asks for timely credit of monthly pension to EPS pensioners

    The Central Provident Fund Commissioner has directed the field offices of EPFO to generate and reconcile pensioners' details and pension amount statements for the current month by 25th March 2020.

    EPFO sets up ex-gratia death relief fund for families of employees who die due to coronavirus

    The decision has been taken in the wake of provident fund and pension services been declared as essential during the nationwide lockdown since March 23.

    Early signs of formal employment gaining ground appear as suggested by EPFO data

    In what could be early signs of formal employment gaining ground after significant dip in April due to nationwide lockdown, the number of subscribers who left and rejoined Employees Provident Fund (EPF) scheme stood at an all-time high so far this year in June, while the number of exits from the scheme dropped significantly.

    Net enrolments with EPFO dips to 10.34 lakh in Feb from 10.71 lakh in Jan

    During the April-February period in 2019-20, the number of net new subscribers rose to 76.53 lakh compared to 61.12 lakh recorded by Employees' Provident Fund Organisation (EPFO) during the entire 2018-19.

    Employees' PF contribution can go higher than 10%, not of employers: Labour ministry

    The ministry on Monday notified lower rates of provident fund contribution at 10 per cent, increasing the in-hand salary of 4.3 crore provident fund subscribers. Last week, Finance minister Nirmala Sitharaman had announced the reduction of statutory provident fund contribution by both employers and employees for the next three months to 10 per cent of basic wages from 12 per cent.

    Recovery in formal job market pushes EPFO enrolments to 8.45 lakh in July

    The payroll data, released by the ministry of statistics and programme implementation on Friday, shows the members exiting the EPFO scheme fell to 3,12,744 as against 5,70,664 in June, which has been revised upwards while those who rejoined the scheme stood at 5,47,755 compared to 5,14,659 in June.

    EPFO slashes interest rate on deposits to 8.5% for FY20

    Retirement fund body EPFO on Thursday lowered interest rate on provident fund deposits to 8.5 per cent for the current financial year, said Labour Minister Santosh Gangwar on Thursday. The EPFO had provided 8.65 per cent rate of interest on EPF for 2018-19 to its around six crore subscribers. The decision was taken at a meeting of the the Employees' Provident Fund Organisation's (EPFO) apex decision making body -- the Central Board of Trustee.EPFO slashes interest rate on deposits to 8.5% for FY20

    EPFO Delhi West office settles 4.4 lakh claims in 150 days of lockdown

    Writing a foreword, Labour Minister Santosh Gangwar expressed that the EPFO Delhi West has strengthened social accountability through public review of its performance using social media on a daily basis.

    EPFO mulls rate cut on PF deposits to 8.5% for FY20

    The EPFO is considering a cut of 15 basis points in the interest rate on PF deposits in FY20 to 8.5%.

    Rs 44,054.72 crore has been withdrawn from the EPFO till date: Govt in Rajya Sabha

    The Employees’ Provident Fund (EPF) Scheme was amended to provide for a non-refundable advance from the provident fund account of a member not exceeding the basic wages and dearness allowances of that member for three months or up to 75% of the amount standing to his credit in the EPF Account, whichever is less.

    Borrowers set to get compound interest waiver, Cabinet approval likely

    The government had filed an affidavit in the Supreme Court in a case concerning the moratorium, stating that it would waive interest on interest on loans up to Rs 2 crore for a select category of borrowers.

    8.2 lakh workers dip into retirement savings to survive in lockdown

    Claims settlement involves disbursal of total amount of Rs 4,684.52 crore which includes Rs 2,367.65 crore COVID claims under the PMGKY package. The exempted private PF trusts have also risen to the occasion amidst the COVID-19 pandemic.

    EPFO directs field offices to timely credit pension to 65 lakh EPS beneficiaries

    Retirement fund body EPFO on Monday said it has issued directions for timely credit of monthly pension to over 65 lakh employees' pension scheme (EPS) beneficiaries amid the coronavirus outbreak.

    EPFO withdrawals hit Rs 30,000 crore during April-July lockdown

    As much as Rs 30,000 crore has been withdrawn in under four months starting April by 8 million subscribers of the Employee Provident Fund Organisation. EPFO manages a corpus of Rs 10 lakh crore built on mandatory contributions from nearly 60 million salaried people and their employers. The huge outgo is likely to impact the fund’s earnings in FY21. Going by the current trend, EPFO expects nearly 10 million subscribers to withdraw from their savings in the coming days.EPFO withdrawals hit Rs 30,000 crore during April-July lockdown

    Pension commutation under EPFO from Jan 1

    The move, which comes 10 years after the provision was withdrawn, follows a decision at a recent meeting of the EPFO’s central board of trustees and will benefit around 630,000 pensioners.

    EPFO settles 94.41 lakh claims worth Rs 35,445 cr during April-August

    Retirement fund body EPFO has settled 94.41 lakh claims totalling Rs 35,445 crore during April-August despite COVID-19 related restrictions, an official statement said on Tuesday.

    EPFO, CMPFO merger on cards

    CMPFO’s payments have started exceeding inflow since 2016-17.

    EPFO records 6.55 lakh net new enrolments in June from 1.72 lakh during May 2020

    New subscribers increased about 64% to 498,000 in June from 303,000 in May while exits from EPFO subscriber base declined nearly 33% to 296,000 in June from 445,000 in May. The EPFO saw net addition of 1.2 million subscribers in June this year while 2019-20 saw one million new subscribers on average every month.

    EPFO subscription may open up for self-employed to expand social security coverage

    Currently, only workers who are under a formal employee-employer relationship in a business establishment are eligible to subscribe to the provident fund and pension schemes run by the EPFO.

    Government allows bulk transfer of provident fund from exempted establishments

    Till now exempted establishments had to approve and transfer the funds one-by-one for each member. Consequently, larger establishments requiring to transfer the funds of many employees each day, found the process very cumbersome and time taking.

    EPFO to use CSCs for life certification of pensioners

    Looking to bring service delivery closer to the doorsteps of Employees' Pension Scheme (EPS) pensioners, especially during the coronavirus pandemic, EPFO has partnered with CSC to provide facility to submit Digital Jeevan Pramaan, the labour ministry said in a statement.

    Govt proposes to relax EPF withdrawal rules

    As per the announcement, due to pandemic situation, the government will amend Employees Provident Fund withdrawal rules and also, will pay both employer and employee contrition to the EPF account for the continuity of the account for the next three months.

    Retirement fund body EPFO settles 46 lakh COVID-19-related claims worth Rs 920 crore

    Members can use this facility to withdraw three months' basic wages -- basic pay plus dearness allowance -- or half of the total accumulation in his or her Employees' Provident Fund (EPF) account, whichever is less for meeting exigencies due to the COVID-19 situation.

    EPFO eases compliance burden for companies

    As per EPFO, in the current scenario the businesses and enterprises are not able to function normally and are facing liquidity or cash crunch to pay their statutory dues even though they are retaining the employees on their rolls.

    Employees Provident Fund Organisation services most accessed on UMANG app

    Adding to the 16 services already on the UMANG app, EPFO has now started another facility, enabling EPS (employees' pension scheme) members to apply for Scheme Certificate under Employees' Pension Scheme, 1995, according to the statement. Scheme certificate is issued to members who withdraw their Employees Provident Fund (EPF) contribution but wish to retain their membership with the EPFO to avail pension benefits on the attainment of retirement age.

    PF rates slashed to 7-Year Low of 8.5%

    The proposed rate is 15 basis points lower than 8.65% announced for FY 2018-19. The finance ministry will have to vet the interest rate of 8.5% agreed upon by CBT before it is notified by the labour ministry.

    EPF interest rate lowered by 15 bps to 8.5% for FY20

    The interest rate is a big sentiment booster and any cut may further hit the employee sentiment.

    EPFO withdrawals during April-July hit Rs 30,000 cr as 8 mn dig into retirement fund

    EPFO officials told ET the amount withdrawn between April and the third week of July is much more than the usual outgo seen over similar periods, and that pandemic-related job losses, salary cuts and medical expenses explain this substantial increase.

    Reduced EPF contribution: 16 questions answered by EPFO

    ​The reduction in EPF contribution to 10 per cent from 12 per cent was announced by Finance Minister Nirmala Sitharaman as a part of the Atmanirbhar Bharat Package to provide some relief to employers and also to increase the take-home pay of the employees.

    View: Passage of labour Bills is a historic milestone, both for industry and workers

    The three Bills relate to codes on occupational safety, health and working conditions, industrial relations and social security. Alongside the Wage Bill that was passed earlier, the four codes consolidate the relevant labour laws in the central sector.

    Currently there are 4.5 crore active EPFO members: Labour minister

    “The number of active members under EPFO, at present, are 4,50,60,972 (contributing UANs of last three wage months viz. August, 2019 to October, 2019)," said labour and employment minister Santosh Kumar Gangwar .

    Portion of EPF corpus is invested in equities: Is your EPF money safe?

    EPFO started to invest 5% of fresh inflows in index ETFs from August 2015. This was raised to 10% in 2017 and later to 15% in 2018. EPFO’s maiden foray into equities initially proved bountiful but got a rude shock in March this year.

    Transfer of EPF accounts: 17 questions answered by EPFO

    Here are the 17 questions and their answers for those EPF members looking to transfer their EPF accounts from their previous employers to new employers.

    UMANG app sees 180% jump in usage, 11.27 lakh claims between April and July 2020: EPFO

    In the process, EPFO has become the largest organization on UMANG accounting for more than 90% of the footfall on the app.

    EPFO records 1.33 lakh new enrolments in April

    The net new enrolments with retirement fund body EPFO recorded at 1.33 lakh during April 2020, according to its payroll data, providing an employment perspective in the formal sector impacted by COVID-19-induced lockdown. The government had imposed lockdown from March 25 to fight COVID-19 in the country.

    CMPFO dismantles panel studying EPFO merger

    Late last month, CMPFO had in a letter informed that a three-member panel was formed to examine the merger following a letter from the ministry in early March. In a statement issued last week, CMPFO said that its letter, by which the panel to examine the issue of merger was constituted, has been withdrawn by the competent authority since presently there was no such proposal under consideration.

    Contributions to National Pension System grow 6 per cent in Q1; more join up

    The scheme also increased its subscriber base by 1.5% to 35 million, up from 34.5 million as of March end, with maximum additions under the Atal Pension Yojana, official data showed.

    EPFO cuts back on debt, equity play as lockdown hurts inflows

    The fund is estimated to have halved its investments to about 5,000 crore since May

    Nifty 50 ETFs’ AUM crosses Rs 1 lakh crore

    Total AUM of ETF industry in India has exceeded ₹2 L cr; A large chunk of it has come from EPFO

    EPFO to focus on subscribers' convenience, ease of doing business through digital tools in 2020

    Employees' Provident Fund Organisation (EPFO) is undertaking several digital initiatives including online Universal Account Number (UAN) generation facility for subscribers and e-inspection system for employers.

    Formal employment in India grew by 28.6% in 2019-20: EPFO

    The top sectors which have seen over 50% increase in formalisation of workforce are hospitality and financial institutions while sectors like textiles have seen a jump of 20% as per the payroll data of the Employees’ Provident Fund Organisation, shows the payroll data of EPFO.

    Now workers can generate UAN from EPFO portal directly

    At present, workers are required to apply through their employers to get the universal account number (UAN), which enables them to avoid filing PF transfer claims on changing jobs. Now they do not have to depend on his or her employer for getting the UAN. The UAN remains the same throughout the life of a worker.

    Lower PF contribution may be allowed for select class of workers

    A senior government official told ET that lower contribution rule under PF will not apply to all.

    EPFO adds 3.18 lakh new subscribers in May as former employment generation improves

    Net additions under the Employees State Insurance Corporation (ESIS) totalled 4.6 lakh compared to 2.41 lakh in April, while those under the National Pension Scheme (NPS) stood at 43,888 in May, a dip from 64,647 subscribers added under the scheme in April, the Ministry of Statistics and Programme Implementation said in its monthly report on Thursday.

    EPFO to launch e-inspection system to simplify process

    EPFO proposed to amend the Act to limit enquiry period to a maximum of two years in order to curtail harassment.

    Government to pay EPF contributions of employees and employers till Aug 2020

    The decision to extend EPF contribution will give further relief to small businesses who are facing a cash crunch. The move will benefit more than 72 lakh employees.

    4 lakh tap on EPFO Covid-19 window

    The Employees’ Provident Fund Organisation has received 400,000 requests for withdrawals under a special Covid-19 window announced 13 days ago to provide relief to subscribers in financial need.

    Your EPF withdrawal claim can be rejected in these cases, here's how to avoid this

    If you wish to withdraw from your EPF account, due to coronavirus-led financial stress or otherwise, your claim may be rejected for many reasons. Shambhavi Mehrotra of ET Online lists 5 such reasons and the steps you can take to ensure your claim gets accepted.Your EPF withdrawal claim can be rejected in these cases, here's how to avoid this

    EPF withdrawal due to coronavirus: 20 questions answered by EPFO

    To help EPF members with the withdrawal process to meet the financial emergency due to novel coronavirus pandemic, the EPFO issued a set of FAQs. These FAQs will answer all the queries an EPF member may have related to making withdrawal from EPF account.

    EPFO approves changes in Employees' Pension Scheme to restore commutation of pension

    The move would benefit the pensioners who had opted for commutation and got a lump-sum amount at the time of retirement before 2009.

    SBI to raise up to Rs 10,000 crore through issue of tier-II bonds

    The tier-II bonds are expected to offer 6.65-6.75 per cent, with a 15-year maturity, said two people with direct knowledge of the matter. The proposed bonds will likely come up for bidding on the electronic platform of stock exchanges on Wednesday.

    EPFO appoints UTI AMC, SBI Mutual Fund as fund managers

    The appointment of the fund managers for another term of three years had been pending with the EPFO since April last year.

    10.34 lakh new enrollments in February 2020: EPFO

    However, during the April-February period in 2019-20, the number of net new subscribers rose to 76.53 lakh compared to 61.12 lakh recorded by the EPFO in entire 2018-19. The net new enrolments were 15.52 lakh during September 2017-March 2018. The latest data showed that during September 2017-February 2020, around 3.29 crore (gross) new subscribers joined the Employees' Provident Fund Scheme.

    Govt notifies 8.65% interest rate for over 6 crore EPFO members for 2018-19

    The EPFO has been settling EPF withdrawal claims at 8.55 per cent interest rate, approved for 2017-18. Now, the EPFO will settle accounts on higher rate of 8.65 per cent for 2018-19.

    No tax implications of coronavirus relief withdrawals from EPF: EPFO

    The withdrawal can also be done online. For this, one must have an activated Universal Account Number (UAN), the Aadhaar should be verified and linked with the UAN and the bank account with IFSC Code should be seeded with UAN.

    Over 6 crore EPFO members will get 8.65% interest for 2018-19: Labour minister Gangwar

    Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO members will get 8.65 per cent interest on their deposits for 2018-19. The Central Board of Trustees -- the apex decision-making body of the Employees' Provident Fund Organisation (EPFO) -- had approved 8.65 per cent interest rate for the last fiscal in February this year. The proposal was sent for the concurrence of the finance ministry.Over 6 crore EPFO members will get 8.65% interest for 2018-19: Labour minister Gangwar

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