Cabinet approves modifications in the 7th CPC recommendations on pay and pensionary benefits
Dearness Allowance Allowance Committee 7th Pay Commission Income Tax exemption
4% Additional DA for TN State Government Employees from Jan 2017 Allowances Committee Report and Financial Expenditure Committee on 7th CPC Allowances : FM Press Note Income Tax exemption benefit on Housing Loan Interest (FAQ)

EPFO

EPF members now required to submit self-declaration for advance in case of illness of members/ dependents

EPF members now required to submit self-declaration for advance in case of illness of members/ dependents

Press Information bureau
Ministry of Labour & Employment

28-April, 2017 12:51 IST

EPF members now required to submit self-declaration for advance in case of illness of members/ dependents

EPF members will now only be required to submit a self-declaration for the advance in case of illness of members/ dependents. Differently abled members will also get advance on the basis of self-declaration. A member will no longer be required to submit any medical certificate or any other certificate or document or proforma whatsoever to avail advances under paragraph 68-J or under paragraph 68-N of EPF Scheme 1952.

Ministry of Labour & Employment has amended Paragraph 68-J and Paragraph 68-N of Employees’ Provident Fund Scheme, 1952 and It will come into force from the date of its publication in the official Gazette. According to it, a member would only be required to submit a self-declaration, which has already been included in the composite claim form, to avail advance under the EPF Scheme in case of illness of members/ dependent and also in case of differently abled members.

This is in continuation of initiatives taken by EPFO as part of next phase of its e-governance reforms with a view to make the services of EPFO available to its stakeholder in an efficient and transparent manner. An administrative order was issued on 20.02.2017 in the matter of Introduction of Composite Claim Forms (Aadhar and Non-Aadhar ) to replace existing Claim Forms No. 19, 10C & 31 and Forms No. 19 (UAN), 10C(UAN) & 31 (UAN). EPFO has since implemented Universal Account Number (UAN) for its subscribers. It is now possible for subscribers, who have seeded their UAN with Aadhar Number and Bank account details, to submit claim forms directly to EPFO without the attestation of employers.

Source : PIB News

Stay updated on the go with CENTRAL GOVERNMENT NEWS App. Click here to download it for your device.

Be the first to comment - What do you think?  Posted by admin - April 30, 2017 at 7:35 pm

Categories: EPFO   Tags: , , ,

Aadhaar Seeding Application launched by Shri Bandaru Dattatreya

Aadhaar Seeding Application launched by Shri Bandaru Dattatreya

Minimum assured amount on death in service and loyalty cum life benefit to EDLI members on superannuation recommended to Government

Employee Enrolment Campaign enrolls about 5 million workers in EPFO upto 31st March, 2017

The Central Board (EPF) under the chairmanship of Union Minster of State for Labour and Employment (Independent Charge) Shri Bandaru Dattatreya held its 217th special meeting in New Delhi.

In pursuance to the policy of the Government for optimum use of information technology for efficient service delivery and widening the reach of EPF benefits, Hon’ble Minister of Labour & Employment, Sh. Bandaru Dattatreya launched Aadhaar Seeding Application. The EPFO has developed this Aadhaar seeding application with support of the Common Service Centers (CSC) and CDAC. The CSCs are ICT enabled front end service delivery points at the village level for delivery of Government and private services. With the implementation of Aadhaar Seeding Application, now Provident Fund member or pensioner can walk in any of the field offices of EPFO or CSC outlets with UAN & Aadhaar and seed the Aadhaar with the UAN.

The Board has recommended a proposal of extending minimum assured benefit of Rs.2,50,000/- (Rs. Two lakh fifty thousand) on death of EDLI member. Provisions have also been recommended in EDLI Scheme for Loyalty cum life benefit to members on superannuation on completion of 58/60 years of age/total and permanent disablement with minimum 20 years of contributory service as a pilot project for two years. Thereafter the scheme will be reviewed.

Central Board also took note of the fact that EPFO has enrolled 49,39,929 workers during 01.01.2017 to 31.03.2017.

PIB

Be the first to comment - What do you think?  Posted by admin - April 13, 2017 at 6:32 pm

Categories: EPFO   Tags: , , , ,

GPF Rules

GPF Rules

With effect from 7th March 2017, Government has simplified and liberalised the conditions for taking advance from the fund by the subscribers for education, illness, purchase of consumer durables. Conditions and procedures for withdrawal from the fund for the purpose of education, illness, housing, purchase of motor vehicles etc. have also been liberalised. No documentary proof is required to be submitted now for advance and withdrawal applications. A simple declaration by the subscriber is sufficient. A time limit for sanction and payment of advance/withdrawal has also been fixed.

There is no proposal under consideration of Government to increase/link the rate of interest on GPF at parity with that of EPF. The interest rates on EPF are decided on the recommendations of the Central Board of Trustee (EPF) taking into account the yearly income from the investment made by EPFO. The GPF interest rate is presently fixed at par with that of PPF interest rate.

This was stated by the Minister of State in the Ministry of Personnel, Public Grievances and Pensions and Minister of State in the Prime Minister’s Office, Dr. Jitendra Singh in a written reply to question by Dr. Sunil Baliram Gaikwad, Kunwar Haribansh Singh, Shri T. Radhakrishnan, Shri Gajanan Kirtikar and Shri Bidyut Baran Mahato in the Lok Sabha today.

PIB

Be the first to comment - What do you think?  Posted by admin - April 12, 2017 at 6:41 pm

Categories: EPFO   Tags: , , , ,

Development of EPFO APP – UMANG

Development of EPFO APP

Employees’ Provident Fund Organization (EPFO) is developing online claims settlement process by receiving application online. The application will be integrated with Unified Mobile App for New-age Governance (UMANG) App to receive the claims online. However, time frame to rollout the same has not been finalized. EPFO has engaged Centre for Development of Advanced Computing (C-DAC), Pune as its technical consultant for upgradation of its technology.

Necessary hardware by way of the latest technology for servers, storages & Networking equipments have been installed at three data centers in Delhi, Gurugram & Secunderabad.

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

PIB

Be the first to comment - What do you think?  Posted by admin - April 11, 2017 at 4:25 pm

Categories: EPFO   Tags: , , , ,

Online Facility for Settlement of Claims in EPFO

Online Facility for Settlement of Claims in EPFO

Employees’ Provident Fund Organisation (EPFO) has taken various steps to provide various online services like for claims of provident fund, final settlement, withdrawals and pension fund withdrawal, etc. to its members in a quick and transparent manner. However, no specific date has been fixed. Receipt of transfer claims online has already been introduced by EPFO.

The claims other than transfer claims are received manually but processed on Computer Systems and the benefits credited to members by way of Core Banking Solution (CBS) and National Electronic Fund Transfer (NEFT) to their bank account.

Out of 120 field offices of EPFO, 110 field offices have already been connected with a central server.

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.

PIB

Be the first to comment - What do you think?  Posted by admin - April 6, 2017 at 3:51 pm

Categories: EPFO   Tags: , ,

EPF pensioners to get medical benefits: Bandaru Dattatreya

EPF pensioners to get medical benefits: Bandaru Dattatreya

New Delhi: Nearly 58 lakh people Employees Provident Fund pensioners will now get medical benefits, Labour Minister Bandaru Dattatreya said in the Lok Sabha today.

“Regarding the pensioners, we are going to give the pensioners benefit under the ESIC (Employees State Insurance Corporation) to those who are retired pensioners. We will be providing all medical services to the retired pensioners. 58 lakh pensioners will be benefited,” he said.

Dattatreya was replying to a debate on a private member’s resolution moved by RSP member N K Premachandran on ‘Steps To Ensure Welfare of Employees Provident Fund Pensioners’.

A meeting of the EPFO Board yesterday had on its agenda a proposal to provide health insurance scheme to pensioners of the Employees Pension Scheme through Employees State Insurance Corporation (ESIC).

Although the board agreed in principle to approve the proposal but a final call would be taken on this in the next meeting of the CBT.

Earlier, back of the envelop calculations done by ESI had estimated Rs 200 monthly premium per person for providing health cover under its scheme to the EPFO pensioners.

The proposal is aimed at providing health cover to EPFO pensioners, who get very little amount as pension and hence healthcare is out of their reach.

Hukum Narayan Yadav (BJP), while participating in the debate, demanded pension for farmers and agricultural labourers.

Participating in the discussion, Anandrao Adsul (Shiv Sena) said that unclaimed pension fund of around Rs 27,000 crore which has been deposited should be utilised for the people.

Ravindra Kumar Rai (BJP) said that Pandit Deendayal Upadhyay was of view that policies of the country should be according to the country and added the present government under the Chairmanship of Prime Minister Narendra Modi “we are leading the same direction.”

Contending that the present government wants to spread the ray of hope for those who are suffering from destitute, Rai said “We are not working for the political intent but with social ethos.”

He also suggested that in every district some amount should be kept aside for the needy which should be allocated to them when there is a need.

Pashupati Nath Singh (BJP) said the unclaimed fund of about Rs 27,000 crore lying with EPFO belongs to poor and it should be utilised to provide relief to the poor only.

Poor people due to lack of awareness or information about rules for drawal could not withdraw so it is lying unused with the the EPFO, he said.

Government has taken various steps to make India a pensioned society, he added.

Due to efforts of the government, the shift of PF fund from one organisation to other has become seamless, said Jugal Kishor Sharma (BJP).

PTI

Be the first to comment - What do you think?  Posted by admin - April 1, 2017 at 2:00 pm

Categories: EPFO   Tags: , , , , ,

Death Claim settled within 20 days from the date of receipt

Death Claim settled within 20 days from the date of receipt

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
LOK SABHA
UNSTARRED QUESTION NO: 3931

ANSWERED ON: 27.03.2017

Death Claims

G. HARI
Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:-

(a) whether the Employees Provident Fund Organisation (EPFO) proposes to settle PF money claimed after death of an employee within seven days from 20 days at present;

(b)if so, the details thereof;

(c)whether all the death cases claims will be given top priority and officers in charge at all EPF offices will personally monitor such claims on day-to-day basis; and

(d) if so, the details thereof?

ANSWER
MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI BANDARU DATTATREYA)

(a) & (b): As per paragraph 72(7) of the Employees’ Provident Funds (EPF) Scheme, 1952, the claim complete in all respects submitted along with the requisite documents shall be settled and benefit amount paid to the beneficiaries within 20 days from the date of its receipt by the Commissioner. The field offices of Employees’ Provident Fund Organisation (EPFO) have been directed to settle claims in cases of deaths within seven days of receipt of such claims.

(c) & (d): Yes, Madam. Public Relation Officer and officials in the Facilitation Centres of EPFO have been instructed to scrutinise the claim forms received in respect of death cases and guide the claimants for submission of all required documents in one go only. An official has been specially earmarked to handle such claims. Regional Provident Fund Commissioners have been directed to personally monitor the death cases on day-to-day basis.

Loksabha Q&A

Be the first to comment - What do you think?  Posted by admin - March 27, 2017 at 3:55 pm

Categories: EPFO   Tags: , , , ,

EPFO Invest more than Rs.18 crore in ETFs

EPFO Invest more than Rs.18 crore in ETFs

Employees Provident Fund Organisation (EPFO) is investing in Exchange Traded Funds (ETFs) based on Nifty 50, Sensex and Central Public Sector Enterprises (CPSE) Indices. EPFO does not invest in shares and equities of individual companies.

The total amount invested by EPFO in ETFs as on 28th February, 2017 is as under:

(i) Nifty 50 and Sensex Index based ETFs: Rs. 17,105 crore
(ii) CPSE Index based ETF: Rs. 1,504 crore.

The Employees Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952 is applicable to every establishment employing 20 or more persons which is either a factory engaged in any industry specified in Schedule-I of the Act or an establishment to which the Act has been made applicable by the Central Government by notification in the Official Gazette.
An Employees Enrolment Campaign, 2017 has been launched for the period 01.01.2017 to 31.03.2017 to bring in more workers under the ambit of EPFO. Under the campaign, an employer, whether already covered or yet to be covered, can enroll employees who remained un-enrolled for any reason between 01.04.2009 and 31.12.2016 by making a declaration of such employees during the campaign period. Such declaration shall be valid only in respect of employees who are alive as on 1st January, 2017 and no proceedings under Section 7A of the EPF & MP Act, 1952 or under paragraph 26B of the Employees Provident Funds (EPF) Scheme, 1952 or under paragraph 8 of the Employees Pension Scheme (EPS), 1995 have been initiated against their establishment or employer, as the case may be, to determine the eligibility for membership of such employees.

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 today.

PIB

Be the first to comment - What do you think?  Posted by admin - March 22, 2017 at 6:51 pm

Categories: EPFO   Tags: , , , , ,

EPFO takes various steps for speedy settlement of claims

EPFO takes various steps for speedy settlement of claims

The Employees Provident FundsOrganization (EPFO) has taken various steps for speedy settlement of claims which inter alia include:

  • Composite Claim Form (Aadhaar) and Composite Claim Form (Non-Aadhaar) has been introduced by replacing the erstwhile Claim Forms No. 19, 10C and 31, with a view to simplify the submission of claims by the subscribers. The Composite Claim Form has been further simplified to include self-certification by EPF subscribers. The Composite Claim Form (Aadhaar) can be submitted to the EPFO without attestation of their employers.
  • EPFO has mandated to settle claims within 20 days.
  • Online Transfer Claim Portal (OTCP) has been introduced to facilitate seamless transfer of claims.
  • An online payment facility has been developed for employers for payment of dues. The internet banking (INB) facility enhances efficiency and payment and ensures anytime, anywhere online access while usage of existing internet bank account to make payments online.
  • National Electronic Fund Transfer (NEFT) has been introduced for payments.

The Employees Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952 is applicable to every establishment employing 20 or more persons which is either a factory engaged in any industry specified in Schedule-I of the Act or an establishment to which the Act has been made applicable by the Central Government by notification in the Official Gazette.

There was a total of 17.14 crore Employees Provident Fund (EPF) accounts as on 31.03.2016. 12.21 lakh accounts were pending for updation. As per consolidated Annual Accounts of EPFO for the year 2015-16, the closing balance in Interest Account as on 31st March, 2016 is Rs. 45,135.25 crore.

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

PIB

Be the first to comment - What do you think?  Posted by admin - March 20, 2017 at 10:25 pm

Categories: EPFO   Tags: , , , ,

EPF Members to Withdraw upto 90 % Fund for Purchase of House

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

PIB

Be the first to comment - What do you think?  Posted by admin - March 16, 2017 at 6:30 pm

Categories: EPFO   Tags: , , , ,

Last Date Extended to 31.3.2017 for Submission of Digital Life Certificate

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.

Source: PIB News

Be the first to comment - What do you think?  Posted by admin - March 8, 2017 at 7:08 pm

Categories: EPFO   Tags: , , , , ,

EPFO: Here are 4 points govt is working on the retirement scheme to make it more subscriber friendly

EPFO: Here are 4 points govt is working on the retirement scheme to make it more subscriber friendly

After last year’s fiasco over taxing of provident fund, the government seems to be working overtime to make changes to the retirement scheme. The government has introduced a slew of measures to make the Employee provident Fund Organsiation or EPFO more subscriber-friendly, while it is reportedly proposing more steps.

Here are the steps the government has taken or has proposed to take and what they mean to you:

1) The EPFO recently simplified the norms for provident fund claims by coming out with a single one-page form for all types of claims. This means you won’t need to fill forms like Form 19, Form 10C, and Form 31 anymore to make the claims. These forms were being accepted for PF Final Settlement, EPS Pension withdrawal and PF Partial withdrawal respectively in the past.

The new form called the new Composite Claim Form (CFF) are of two types called CCF (Aadhaar) and CCF (non aadhaar). Even the process has now been made simple where the form can be submitted to EPFO which bypasses the employer completely if you are Aadhaar complaint and the account is seeded with your bank details. Here you will need to fill the CCF (AAdhaar) form and for those who are not Aadhaar compliant, they will have to fill the CCF (non aadhaar), and include the employer in the process.

Even taking advances from your PF corpus has been made easy, as going forward you don’t need to provide any kind of document as proof. The recent order by the government says, “submission aadhar compliant and non-Aadhar compliant form duly signed by the EPF subscriber shall be construed as ‘self-certification for the above partial withdrawals for which no documents would be required to be submitted to the EPFO offices.” In short, less amount of paper work for employees as well as faster resolution of claims will be set in place.

2) By May this year EPFO is planning to launch an online facility which will simplify the claim process, EPFO Central Provident Fund Commissioner VP Joy told recently. Under the proposed scheme, the claims are expected to be settled within 20 days of submitting the form. It usually take 4-5 months for the process to get done and money to credit into your bank account. The institution is working to make the entire process computerised.

3) In another move the government is considering decreasing the employers liability towards Employees Provident Fund (EPF) in the construction sector to 10 percent of the basic pay as against the current 12 percent, as reported by The Financial Express. Reducing the amount of employer’s contribution, will possibly nudge more building/construction units to extend the EPF benefits to workers. Last year, the Delhi High Court had passed an order stating that all construction workers need to be mandatorily enrolled under the EPF scheme. The Hindu Business Line had reported, “Builders had expressed concerns over “ambiguity” in the eligibility of workers, many of whom were employed on a casual or short-term basis.” And enrollment of construction workers in PF was below expectations.

4) EPFO is expected to launch a special housing scheme this month, which will make life of crores of members easier if they have or plan to avail a home loan. This scheme will enable members to make down payments or pay EMIs from their EPF account to buy houses.

According to PTI, the subscribers as well as their employers would be required to form a group housing society which would further tie up with banks and builders or sellers of homes so that EPFO members can buy homes. The scheme is likely to be launched anytime after 8 March.

Explainer: The granular details are yet to be out, only time will tell if this scheme is good.

Do keep tracking this space as we bring you more information when the scheme is launched.

Be the first to comment - What do you think?  Posted by admin - March 7, 2017 at 10:12 am

Categories: EPFO   Tags: , , , , ,

Furnishing of Aadhaar mandatory for final settlement of Pension claims

Furnishing of Aadhaar mandatory for final settlement of Pension claims

Ministry of Labour & Employment
Press Information Bureau,
Government of India

02-March, 2017

The EPFO has clarified that obtaining of Aadhaar should be mandatory for the time being only for final settlement of Pension and not in withdrawl cases. The EPFO had extended the date of submission of Aadhaar Number authentication by the members of Employees’Pension Scheme 1995 upto 31st March 2017.

However, news item appearing in few dailies suggested that Aadhaar is not required in settlement of pension claims. Accordingly, the EPFO reiterated that the requirement of submitting Aadhaar is not insisted for the time being only in withdrawal benefit cases under Employees’ Pension Scheme, 1995. Furnishing of Aadhaar is still mandatory for final settlement of pension and scheme certificate cases.

Be the first to comment - What do you think?  Posted by admin - March 2, 2017 at 2:34 pm

Categories: EPFO, Pension   Tags: , , , , ,

Retirement fund body EPFO launches one page EPF claim withdrawal form

Retirement fund body EPFO launches one page EPF claim withdrawal form

Highlights:

1. For EPF subscribers whose Universal Account Number (UAN) is linked to their Aadhaar and bank account number, they can approach the EPFO directly for claims, bypassing the employers

2. In case of full withdrawal from EPF accounts, subscribers are required to mention only their names, registered mobile number, UAN, Aadhaar number, date of joining and leaving the company

3. For partial withdrawals from EPF accounts, subscribers are not required to submit extra documents

With an aim to provide withdrawal ease to its EPF subscribers, retirement fund body Employees’ Provident Fund Organisation(EPFO) has started a simplified one page claim withdrawal form, The Hindustan Times reported.

Employees’ Provident Fund (EPF) allows withdrawal if subscriber is unemployed for at least two months or partial withdrawals for events such as medical emergencies, children’s education or buying a house, cited report on Monday.

For EPF subscribers whose Universal Account Number (UAN) is linked to their Aadhaar and bank account number, they can approach the EPFO directly for claims, bypassing the employers, it said.

Earlier, EPF subscribers had to fill up form 19 for complete withdrawal, form 10C for pension fund scheme certificate to retain membership of Employees’ Pension Scheme or to claim withdrawals, and form 31 for partial withdrawals.

Now, with the EPFO’s introduction of the new form called the composite claim form all forms have been merged into one. It has launched two types of EPF withdrawal forms- Aadhaar and non-Aadhaar forms.

The Aadhaar-based composite form is meant for individuals who have activated their UAN and linked it with their Aadhaar and bank account number, and whose details are embedded in the UAN portal, the news report said.

According to the report, in case of full withdrawal from EPF accounts, subscribers are need to mention only their names, registered mobile number, UAN, Aadhaar number, date of joining and leaving the company.

Moreover, for partial withdrawals, there is no longer need of extra documents. Subscribers have to mark the purpose for which they need the money and how much. Sign the form, attach a cancelled cheque and then the subscribers can go ahead.

The non-Aadhaar form needs details of EPF subscribers such as date of birth, father’s name and bank account details. It has to be signed by subscribers and their employers.

The report citing the new form further stated that for partial withdrawals subscribers do not have to submit proof.

For instance, if partial withdrawal was for a wedding (of self or children), EPF subscriber had to give supporting documents such as the wedding invitation card. In the new form, subscriber’s signature is enough. But there is a disclaimer at the bottom which states that if the funds are used for any other purpose, the subscriber is liable to return the money with penal interest.

But if partial withdrawal is for a medical emergency, subscriber still need to submit proof like medical certificate and certificate by the employer that employees’ state insurance (ESIC) facility is not available to the member, it added.

EPFO plans to launch an online facility from May this year for withdrawals, but this can only be used by individuals with Aadhaar and bank account-linked UAN, cited the report.

Be the first to comment - What do you think?  Posted by admin - February 28, 2017 at 3:57 pm

Categories: EPFO   Tags: , , , , , , , ,

30 lakh to benefit from new EPF limit

30 lakh to benefit from new EPF limit

The move will help 1.2 crore people who will now be eligible for health care benefits.

The Centre’s move to increase the wage ceiling for employee coverage under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, to Rs 25,000 per month from the existing Rs 15,000 per month limit is expected to benefit a larger working population and include approximately 30 lakh more workers to the Employees State Insurance (ESI) pool.

The move would also benefit 1.2 crore more people who will now be eligible for health care benefits at more than 1,500 clinics and hospitals run by the ESIC directly or indirectly. Earlier as of March 31, 2016, there were around 2.1 crore persons who were insured under the ESI Act and a total of over 6 crore beneficiaries. Employees and employers contribute to the Employees’ State Insurance Corporation at the specified rates, which are currently, 1.75 per cent of the wages (employee’s contribution) and 4.75 per cent of the wages (employer’s contribution) paid/payable in respect of the employees in every wage period.

However, the increased wage ceiling is expected to pose a challenge to employers in terms of the wage costs to be borne by them, said Nishith Desai Associates, legal and tax councillors.

Employers, it noted, would now be required to make provisions of cash benefit and health insurance for an extended employee population who draw wages up to Rs 21,000 per month. It also sees this as a challenge for the government to ensure that the quality of medical facilities (including hospital infrastructure) provided under the ESI Act are improved such that the desired benefit is achieved. It is a positive move with the objective of expanding the ambit of social security schemes to a larger working population.

Be the first to comment - What do you think?  Posted by admin - January 5, 2017 at 10:20 am

Categories: EPFO, ESIC   Tags: , , , , ,

After 7th Pay Commission salary hikes, move on to raise minimum wage ceiling under EPF

After 7th Pay Commission salary hikes, move on to raise minimum wage ceiling under EPF

The minimum wage ceiling under the Employees’ Provident Fund (EPF) could soon be raised to Rs 25,000 from the existing Rs 15,000.

A hike in the wage limit as proposed would mean all employees drawing basic salary Rs 25,000 would have to compulsorily contribute to the provident fund.

The minimum wage ceiling under the Employees’ Provident Fund (EPF) could soon be raised to Rs 25,000 from the existing Rs 15,000. A proposal to to enhance the limit is likely to be sent by the Employees’ Provident Fund Organisation (EPFO) to the government. A decision to propose the change has been taken at a recent meeting of Sub-committee of the Central Board of Trustees, EPFO, on contract workers held on November 7. Central Board of Trustees (CBT) is the highest decision-making body of the EPFO.

A hike in the wage limit as proposed would mean all employees drawing basic salary Rs 25,000 would have to compulsorily contribute to the provident fund. However, those drawing above that limit will have the option to become member of the provident fund, and can opt out if they want to.

The move comes in wake of changes in the wage structure in accordance with the proposal of the 7th Pay Commission. Trade union representatives at the CBT sub-committee meeting pointed out that the minimum wage of Central government employees after implementation of the Pay Commission report has been hiked to Rs 18,000. and hence the EPFO’s wage ceiling of Rs 15,000 needs to be altered. They pointed out that there could be further increase in minimum wages from the Rs 18,000 is likely with the trade unions demanding a minimum wage of at least Rs 21,000 to Rs 22000.

In fact, the Employees’ Deposit Linked Insurance Scheme (EDLI) is directly linked to the minimum wage ceiling. At present, If an employee is earning up to Rs 15,000 he or she can avail of benefits under the Employees Deposit Linked Insurance Scheme (EDLI). The scheme provides life insurance of up to Rs 6 lakhs.

Source: FE

Be the first to comment - What do you think?  Posted by admin - December 30, 2016 at 9:59 am

Categories: 7CPC, EPFO   Tags: , , , , ,

Central Board of Trustees recommends 8.65% interest on EPF

Press Information Bureau
Government of India
Ministry of Labour & Employment

19-December-2016 16:54 IST

Shri Bandaru Dattatreya chaired the 215th meeting of the Central Board of Trustees (EPF)

CBT recommends 8.65% interest on EPF to its subscribers for the year 2016-17

The Minister of State for Labour and Employment (Independent Charge) Shri Bandaru Dattatreya chaired the 215th meeting of the Central Board of Trustees (EPF) in Bengaluru today.

Following are the key decisions of the Board.

1. The Board adopted the 63rd Annual Report on the work and activities of the EPFO for the year 2015-16 for placing it before the Parliament.

2. Paragraph 60(1) of Employees’ Provident Funds Scheme 1952, requires EPFO to credit to the account of each member interest at such rate as determined by the Central Government in consultation with the Central Board. The interest is credited to the members account on monthly running balances basis with effect from the last day in each year. Interest rates are dependent on return on investments done following the pattern of investment prescribed by the Central Government from time to time under Para 52 of the Scheme.

To recommend the rate of interest for the year 2016-17, the status of estimated amount to the credit of the members as on 01.04.2016, budget estimates (BE) of the Contributions and Withdrawals during 2016-17 and the estimated income from the investment holdings are taken into consideration. Interest income from Provident Fund investments for the year 2016-17 has been estimated mainly on the basis of interest income received/receivable in the financial year 2016-17 including surplus from previous year of Rs 410 crore. It may be noted that the last year income included a surplus from previous year of Rs 1604 crore.

Taking into account relevant factors, the Central Board decided to recommend 8.65% interest to its subscribers for the year 2016-17. Roughly 17 crore subscribers’ accounts will be updated with this interest rate upon acceptance by the Government.

3. Enrolment and Establishment coverage campaign 2017

This special campaign will be run in the following manner:

For effective monitoring and implementation the Zonal Addl. CPFCs shall lead the campaign. District Offices of EPFO will be activated and sufficient number of officers will be exclusively engaged. Meetings with the stakeholders namely Employer & Employee associations and State Governments will be held to make it a success. During the campaign wide publicity of PMRPY and PMPRPY benefits will also be undertaken. Online enrollment facilities to workers will form a key feature of the campaign.

Window will be provided from 01.01.2017 till 31.03.2017.

Following recommendation will be made for approval of the Government.

i. A nominal rate of levy of damages from the establishment for payment of contribution for the past period during the campaign for enrolment will be Rs one (Rs.1) per annum.

ii. Any employer during the campaign period, may send declaration for membership of the employees who were required or entitled to become members of the fund on or after the 1st day of April, 2009 but before the 1st day of January, 2017 who could not be enrolled for any reason.

iii. For the declaration made under this campaign, the employer shall be responsible to remit the contributions and interest payable in accordance with the provisions of the Act and the Schemes read with special provisions notified by the Central Government for enrolment campaign.

iv. No administrative charges will be leviable for the past period in respect of the employees enrolled during the campaign. The necessary amendments will be carried out under the relevant provisions of EPF & EDLI Scheme

v. The interest of workers enrolled under the campaign will be fully protected and they shall be eligible to get all eligible interest and benefits as laid down in the Schemes.

vi. To have uniform and nominal rate of levy of damages from the establishment for payment of contribution for the past period during the campaign for enrolment shall be fixed at Rs one (Rs.1) per annum. Enabling provision shall be inserted under para 32(a) of the EPF Scheme 1952 and under para (5) of Employees Pension Scheme, 1995 and para 8-A of EDLI Scheme, 1976.

This campaign will be suitably staffed and resourced so that employers who come forth to extend social security to their employees receive all possible assistance from EPFO. The action will meet the twin objectives of increasing the enrolment, extending social security benefits to all workers and reducing litigation.

4. The Board approved a set of guidelines for streamlining process of surrender of exemption granted to establishments. Surrender of exemption is a situation where an establishment requests to discontinue the exemption granted to it. As the Act and Scheme is silent regarding the procedure of surrender of exemption by an establishment, the decision assumes importance in helping ease of doing business.

5. The Supreme Court in SLP no.33032-33033 in the matter of R. C. Gupta & others has passed certain orders of credit of amounts in the EPF accounts to the previous accounts of employees in respect of wages more than the statutory wage limit. The orders are to the effect that if amounts exceeding statutory wage ceiling have been credited to EPFO, the classification thereon shall be at the joint option of employers and employees. In accordance, the Central Board approved a proposal for facilitating compliance. The 8.33% of the employer’s contribution proportionate to the salary of employees in excess of Rs.6500/- shall now be credited to the pension scheme along with the interest accrued in the provident fund account The employees however shall be required submit joint application along with their employer wherever the same has not been done. This will be applicable only in those case where the members/pensioners have contributed on higher wages than the statutory wage ceiling of Rs.6500/- with or without exercise of option prior to the issue of notification for increase of wage ceiling to Rs.15000/- effective from 01.09.2014.

6. The administration cost of the Employees’ Provident Fund (EPF) and Employees’ Deposit Linked Insurance Scheme (EDLI), 1976, is met from the administrative and inspection charges collected from the employers of un-exempted and exempted establishments. No charges however are levied to run Employees’ Pension Scheme (EPS), 1995.

The Central Government in consultation with the Central Board of Trustees, EPF fixes the administrative charges from time to time. The administrative charges were last reduced from 1.10% to 0.85% with effect from 1st January, 2015.Considering the need to promote the “Ease of Doing Business in India” and to make Indian business more competitive, and in response to the financial efficiency gained by EPFO, the Central Board decided to recommend further reduction of administrative charges to 0.65 %. It also recommended to abolish administrative charges levied in implementing the EDLI Scheme, 1976 passing on the benefits of efficiency and computerisation to employers. The Central Board also decided to constitute a sub-committee of CBT with members drawn from employees and employer representatives to make a pragmatic study of employment trends for next 10 years and recommend appropriate administrative charges to the Central Board.

7. The Chairman, CBT and the Minister of State for Labour and Employment (Independent charge) announced that Organisational Restructuring has been approved by the Union Government for implementation. This includes Cadre Restructuring which will ensure career progression of 20,000 staff/officers of EPFO. The Minister announced that this will be implemented as a New Year gift.

Be the first to comment - What do you think?  Posted by admin - December 20, 2016 at 7:04 pm

Categories: EPFO   Tags: , , , , , ,

7th Pay Commission – Employees Provident Fund may be raised to Rs 25,000

7th Pay Commission – Employees Provident Fund may be raised to Rs 25,000

EPFO-7thCPC

Under the 7th Pay Commission minimum wage ceiling the Employees Provident Fund (EPF) is likely to raise to Rs 25,000 from the existing Rs 15,000.

The proposal drafted by Employees’ Provident Fund Organisation (EPFO) will be sent to the Union Government which is likely to be approved, the report suggests.

The decision has been taken by the members of Sub-committee of the Central Board of Trustees, EPFO – the highest decision-making body – on contract workers held on November 7.

According to reports, the EPFO has proposed a hike in the wage limit of all employees drawing basic salary Rs 25,000 would have to contribute to the provident fund. However, those government employees drawing above that limit will have the option to become a member of the provident fund and can have an option to select or reject if they want to.

The move taken by the EPFO comes in the wake of changes in the wage structure in accordance with the proposal of the 7th Pay Commission. Most of the trade union representatives at the CBT sub-committee meeting noting that the minimum wage of the Central government employees after implementation of the 7th Pay Commission report has been hiked to Rs 18,000, due to which the EPFO’s wage ceiling of Rs 15,000 needs to be altered.

The CBT pointed out that there could be a further increase in minimum wages from Rs 18,000 is likely with the trade unions demanding minimum wage to be increased at least Rs 21,000 to Rs 22,000.

In fact, the Employees’ Deposit Linked Insurance Scheme (EDLI) is directly linked to the minimum wage ceiling. At present, If an employee is earning up to Rs 15,000 he or she can avail of benefits under the Employees Deposit Linked Insurance Scheme (EDLI). The scheme provides life insurance of up to Rs 6 lakhs.

Source: FE

Be the first to comment - What do you think?  Posted by admin - November 15, 2016 at 1:24 pm

Categories: EPFO   Tags: , , , , ,

EPFO joins network of Common Services Centers

EPFO joins network of Common Services Centers

To expand the reach of convenience offered to EPF members, Employees Provident Fund Organisation (EPFO) has joined the network of Common Services Centers (CSC). A Memorandum of Understanding (MoU) has been signed between EPFO and CSC e-Governance Services India Limited (CSC SPV) on 25th October 2016. The MoU is initially for a period of five years.

To start with, the pensioners of Employees Pension Scheme of EPFO can submit their digital life certificates via Jeevan Pramaan Patra programme through a large number of points of Presence (PoP) of CSC networking in addition to those available at EPFO offices. The pensioners living in remote areas can avoid cost and inconvenience of travelling down to the EPF offices or their banks for filing paper based life certificate. In near future, it is also planned to enable various other online services namely aadhaar seeding with Universal Account Number (UAN), e KYC operated upload and update facility, UAN card related services and online claim related services.

Common Services Centers (CSC) network is one of the largest government approved online service delivery channel in the world. CSC are broadband enabled rural service delivery points established by District e Governance Societies (DeGSs), selected by the State Governments, for aggregating content and offering relevant Government to Customers (G2C), Business to Customers (B2C), Business to Business (B2B) and other services. More details about Common Services Centers (CSC) and its network can be accessed at csc.gov.in

EPF subscribers may access these services at their convenience from the nearest CSC network.

PIB

Be the first to comment - What do you think?  Posted by admin - October 27, 2016 at 2:46 pm

Categories: EPFO   Tags: , , ,

Prime Minister concerned over grievances of EPF beneficiaries

Prime Minister concerned over grievances of EPF beneficiaries

 

New Delhi: Prime Minister Narendra Modi today expressed concern over the large number of grievances of labourers and EPF beneficiaries and said a system should be in place under which the process of finalisation of retirement benefits for all employees can begin a year in advance.

“Discussed methods of redressal of grievances pertaining to the Labour & Employment Ministry and how technology can play a big role in this,” Modi tweeted after his monthly meeting of PRAGATI (Pro-Active Governance and Timely Implementation), an ICT-based platform where he interacts directly with top officials of the Centre and states to discuss implementation of programmes and schemes.

During the meeting, he expressed “concern at the large number of grievances of labourers and EPF beneficiaries” and said the government must be sensitive to labourers needs.

“Governments have to be sensitive to the needs & grievances of the workers, who toil day & night and have a major role in India s progress,” he added.

He said that in a democracy, the labourers should not have to struggle to receive their legitimate dues and requested introduction of a system so that the process of finalization of retirement benefits for all employees can begin a year in advance, a PMO statement said.

In case of an untimely death, he said the papers should be completed within a specified time, and officers should be made accountable for the same, the statement added.

During the meeting, Labour Secretary outlined the improvements brought in the grievance redressal system, such as introduction of online transfer of claims, electronic challans, mobile applications and SMS alerts, linking UAN to Aadhaar numbers, introduction of tele-medicine and empanelling of more super-speciality hospitals.

The Prime Minister also reviewed the progress of e-NAM (Electronic National Agriculture Mandi) initiative which began in April this year with 21 mandis spread over 8 states.

Officials said it has now expanded to 250 mandis spread over 10 states, the PMO statement said.

13 states have completed the process of amending the APMC Act, the meeting was told, after which the Prime Minister urged the remaining states to quickly make the required changes in the APMC Act, so that e-NAM could be enabled across the country.

He said the farmer can benefit only if ‘Assaying’ and ‘Grading’ facilities are made available, so that the farmer can market his produce in mandis across the country.

He also invited Chief Secretaries of states to give their suggestions on e-NAM.

PTI

Be the first to comment - What do you think?  Posted by admin - at 7:43 am

Categories: EPFO   Tags: , ,

Next Page »