Employees Contributions to EPF As per the Audited Consolidated Annual Accounts of Employees’ Provident Fund Organization (EPFO) for the year 2014-15, the closing balance of Funds managed by EPFO is Rs. 6,34,174.33 crore. Regarding EPFO being the eleventh largest pension fund in the world, no such information is available with EPFO. The fresh accruals in 2015-16 in the … [Read more...] about Employees Contributions to EPF
Finance Ministry approves 8.7% interest on EPF for 2015-16. NEW DELHI: The Finance Ministry has approved 8.7 per cent interest on PF deposits for over 5 crore subscribers of retirement body EPFO, lower than 8.8 per cent decided by the Central Board of Trustees (CBT). "The (EPFO's apex decision-making body) CBT, at its meeting held in February 2016, has proposed an interim … [Read more...] about Finance Ministry approves 8.7% interest on EPF for 2015-16.
PF withdrawal rules - Government Decides to withdraw the 10th February 2016 Notification with Immediate Effect Government had issued a notification dated 10th February 2016 regarding rules for withdrawal from EPF Funds by the members. Under the revised rules, the employee was permitted to withdraw the employees’ share from the fund (which is 12% of the wages). However, it was … [Read more...] about PF withdrawal rules – Government Decides to withdraw the 10th February 2016 Notification with Immediate Effect
Organizational Restructuring of EPFO Approved to Address Career Progression of Over 20000 Officials Inoperative EPF Accounts that Stopped Earning Interest in 2011, Now to Earn Interest W.E.F. 01.04.2016 Software Module for Disbursal of Salaries to EPFO Launched EPFO’s highest decision making body, the Central Board of Trustees methere last evening . This was its 212th … [Read more...] about Organizational Restructuring of EPFO Approved to Address Career Progression of Over 20000 Officials
Employees may earn interest on inoperative EPF savings account Central board of trustees will review a decision which prevented inoperative employees provident fund accounts from earning interest. New Delhi: Millions of organized sector employees may start receiving interest payments on their inoperative employees provident fund (EPF) savings. The central board of trustees … [Read more...] about Employees may earn interest on inoperative EPF savings account