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- Over 17.4 lakh opted for higher pension on higher contribution under EPS-95, Parliament told
Over 1.7 million Employees' Provident Fund Organisation (EPFO) members have applied to base their pension ...More
Over 1.7 million Employees' Provident Fund Organisation (EPFO) members have applied to base their pension contributions on their full salary, following a Supreme Court ruling. The court allowed existing employees to opt for a higher pension under the Employees' Pension Scheme (EPS), 1995. ...Less
- EPFO extends deadline to opt for higher EPS pension; last opportunity to apply
The Employees Provident Fund Organisation (EPFO) has extended the deadline for the third time to apply fo ...More
The Employees Provident Fund Organisation (EPFO) has extended the deadline for the third time to apply for higher EPS from June 26, 2023 previously. The option to apply for higher EPS is available online on the member Sewa website and is available irrespective of whether the EPF account is held with the private trust or EPFO. ...Less
- What is the formula to calculate EPS pension
The formula to calculate pension under Employees' Pension Scheme (EPS) was tweaked by the Employees' Prov ...More
The formula to calculate pension under Employees' Pension Scheme (EPS) was tweaked by the Employees' Provident Fund Organisation (EPFO) in 2014. Further, the EPFO has released a circular clarifying the method of pension computation for those who opt for higher EPS pension. Read on to know the formula for EPS pension calculation. ...Less
- Higher pension: 8,897 beneficiaries have applied online, says EPFO
Further, it has received 91,258 online applications from retired EPS members (prior to September 1, 2014 ...More
Further, it has received 91,258 online applications from retired EPS members (prior to September 1, 2014 and whose options were not considered at that time) as on March 4. The EPFO, however, closed the option of online application for such retired EPS members on March 4, 2023. ...Less
- How eligible employees can apply for higher pension under EPS on EPFO portal: A step-by-step guide
Employees Provident Fund Organisation has activated the link on the Member e-Sewa portal for the eligible ...More
Employees Provident Fund Organisation has activated the link on the Member e-Sewa portal for the eligible EPF members to submit their application for higher pension under Employees' Pension Scheme. Here is a step by step guide on how to submit application for higher pension under EPS on the EPFO portal. ...Less
- EPFO circular on higher pension under EPS; read the full guidelines here
EPFO issued a circular on February 20, 2023, with guidelines on how eligible employees who missed out on ...More
EPFO issued a circular on February 20, 2023, with guidelines on how eligible employees who missed out on opting for a higher pension under the EPS can now apply for it. Here is the circular issued by EPFO on February 20,2023 ...Less
- EPFO issues guidelines for higher pension from EPS: Know where, how to apply
The EPFO on February 20 released a circular providing guidelines how eligible employees can apply for hig ...More
The EPFO on February 20 released a circular providing guidelines how eligible employees can apply for higher pension under the Employees Provident Scheme (EPS). The last date to apply for higher pension is March 3, 2023 as mandated by the Supreme Court judgement. ...Less
- EPFO issues circular on higher pension, clarifies which employees are eligible and how to apply
The Employees Provident Fund Organisation (EPFO) has issued a circular on December 29, 2022 on who can ge ...More
The Employees Provident Fund Organisation (EPFO) has issued a circular on December 29, 2022 on who can get higher pension and the process to apply for higher pension. The new circular is issued to comply with the instructions issued by the Supreme Court in its jdugement dated November 4, 2022. ...Less
- How to check pension status on EPFO portal
When an EPF subscriber retires, he will be assigned a Pension Payment Order (PPO), a 12-digit number assi ...More
When an EPF subscriber retires, he will be assigned a Pension Payment Order (PPO), a 12-digit number assigned to each pensioner covered by the Employees' Pension Scheme (EPS). You can check your EPF pension status on the EPFO¡¯s pensioner¡¯s portal. ...Less
- EPFO mulling new pension scheme for formal workers getting over Rs 15K basic wage
At present, all those employees in the organised sector whose basic wage (basic pay plus dearness allowan ...More
At present, all those employees in the organised sector whose basic wage (basic pay plus dearness allowance) is up to Rs 15,000 per month at the time of joining service are mandatorily covered under EPS-95. ...Less
- To keep EPFO viable, officials give House panel radical idea
Sources said officials told the panel that EPFO had over 23 lakh pensioners drawing Rs 1,000 per month ev ...More
Sources said officials told the panel that EPFO had over 23 lakh pensioners drawing Rs 1,000 per month even when their contributions to the fund corpus had been less than a fourth of the benefits they were drawing. They also said this would be unviable for the government to support in the long run, unless a system of ¡°defined contributions¡± was put in place. ...Less
- 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 ...More
"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. ...Less
- EPFO pensioners to get pension calculation statement: Move aimed at reducing grievances
This would lead to greater transparency and enable the pensioners to detect errors in calculation, if any ...More
This would lead to greater transparency and enable the pensioners to detect errors in calculation, if any and get them corrected faster. ...Less
- Row as EPFO denies higher pension to all
After the SC order, the EPFO agreed to give pension on full salary to all the members. But later, it deci ...More
After the SC order, the EPFO agreed to give pension on full salary to all the members. But later, it decided to give benefit to Un-Exempt Organisations only. ...Less
- EPFO directs field offices to settle pension on retirement day: Bandaru Dattatreya
In June 2014, the government had decided to give pension payment order to an employee on the day of retir ...More
In June 2014, the government had decided to give pension payment order to an employee on the day of retirement itself with the aim to ensure a life of dignity for pensioners. ...Less
- Last date for EPFO pensioners to submit life certificates is January 15
As per the practice, EPFO pensioners are required to submit their life certificate by November, failing w ...More
As per the practice, EPFO pensioners are required to submit their life certificate by November, failing which their pension is stopped. ...Less
- EPFO pensioners can give digital life certificates till March 31
Earlier in January, EPFO had decided to extend the date of submission through Jeevan Pramaan Patra progra ...More
Earlier in January, EPFO had decided to extend the date of submission through Jeevan Pramaan Patra programme to February 28. ...Less
- EPFO pensioners can give digital life certificate till February 28
Earlier in November last year, the EPFO had decided to extend the last date for submission of life certif ...More
Earlier in November last year, the EPFO had decided to extend the last date for submission of life certificate till January 15, 2017. ...Less
- Age limit under EPFO pension scheme may be raised to 60
At present, a formal sector worker covered under the EPS-95 can make contributions towards pension scheme ...More
At present, a formal sector worker covered under the EPS-95 can make contributions towards pension scheme till the age of 58 years. ...Less
- EPFO adds 6.2 crore members in 6 years: report
Government officials have reported that the EPFO has seen a significant increase of about 6.2 crore membe ...More
Government officials have reported that the EPFO has seen a significant increase of about 6.2 crore members in the last 6 years, with 19 lakh new registrations in May 2024 alone. Discussions are underway to enhance employment opportunities by engaging with industry stakeholders. Plans include raising the minimum EPFO pension and implementing new labor laws. ...Less
- Pensioners generate 1.15 crore digital life certificates: Centre
An analysis of the age-wise generation of DLCs reveals that more than 24,000 pensioners above the age of ...More
An analysis of the age-wise generation of DLCs reveals that more than 24,000 pensioners above the age of 90 years used digital mode, the statement said. The leading states for DLC generation are Maharashtra, Uttar Pradesh, and West Bengal, having generated 5.07 lakh, 4.55 lakh and 2.65 lakh DLCs, it said. ...Less
- Change in EPS rule for calculating lump sum withdrawal amount on early exit: Who benefits, who loses?
Pension amount in EPS: The government via notification dated June 14, 2024 has revised the table used for ...More
Pension amount in EPS: The government via notification dated June 14, 2024 has revised the table used for calculating lump sum withdrawal amount. A member of Employees' Pension Scheme (EPS) can withdraw lump sum amount if he/she exit the scheme before completion of 10 years. Read on to know who gains and who loses from the new pension scheme rule. ...Less
- DPIIT organises workshop on funds for startups
???The Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain chaired the ...More
???The Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain chaired the workshop, which was organised as part of the Startup India Innovation Week 2023, which kickstarted here. ...Less
- Can EPS-95 family pensioners apply for higher pension?
The Supreme Court has allowed certain employees to apply for higher pension from Employees' Pension Schem ...More
The Supreme Court has allowed certain employees to apply for higher pension from Employees' Pension Scheme (EPS). However, it may happen that an individual is receiving family pension from EPS. Can he or she apply for higher EPS pension now? Read on to know more about whether family pensioner can apply or not ...Less
- EPS-95 pensioners to go on hunger strike on Thursday, demand Rs 7,500 minimum monthly pension
Pensioners body EPS-95 National Agitation Committee on Wednesday said its members across the country and ...More
Pensioners body EPS-95 National Agitation Committee on Wednesday said its members across the country and in the national capital will go on hunger strike on Thursday to press for their demand of Rs 7,500 minimum monthly pension. Presently, the pensioners under the Employees' Pension Scheme 1995 (EPS-95) run by Employees' Provident Fund Organisation (EPFO) have a minimum monthly pension (entitlement) of Rs 1,000 which was introduced in September 2014. ...Less
- EPFO defers equity investment cap hike
The CBT approved face authentication technology for digital life certificates, cleared a new central paym ...More
The CBT approved face authentication technology for digital life certificates, cleared a new central payment system for pensioners, and proposed a detailed legal framework to minimise litigation, they said. ...Less
- Investing in passive funds? Keep it simple and don’t overthink: Pratik Oswal
Pratik Oswal emphasizes simplicity in passive funds like ETFs and index funds, suggesting investing witho ...More
Pratik Oswal emphasizes simplicity in passive funds like ETFs and index funds, suggesting investing without overthinking. He highlights the dominance of Nifty 50 and Sensex in passive funds due to pension funds' influence. Oswal recommends keeping basics in the portfolio. He also says, small and midcaps offer a lot more stability now than they did say 5 or 10 years ago. ...Less
- Rs 1,000 minimum monthly pension for EPFO members inadequate, says Par panel
The panel said it becomes imperative on the part of the Ministry of Labour and Employment to pursue the m ...More
The panel said it becomes imperative on the part of the Ministry of Labour and Employment to pursue the matter with the Ministry of Finance for obtaining adequate budgetary support as recommended by the High-Empowered Monitoring Committee, besides impressing upon the EPFO (Employees' Provident Fund Organisation) to make an actuarial assessment of all its pension schemes so that the monthly member pension is enhanced to a reasonable extent. ...Less
- 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 ret ...More
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. ...Less
- Does pension from EPFO qualify for standard deduction?
"The pension received from EPFO is taxable under the head salary and it will qualify for the standard ded ...More
"The pension received from EPFO is taxable under the head salary and it will qualify for the standard deduction. " ...Less
- Govt notifies higher pension for 6.3 lakh EPS pensioners who opted for commutation
As per EPS rules, an EPFO member who retired before Sept 26, 2008, could get maximum one-third of his/her ...More
As per EPS rules, an EPFO member who retired before Sept 26, 2008, could get maximum one-third of his/her pension as lump-sum i.e. commuted pension and remaining two-thirds was paid as monthly pension to an employee for his/her lifetime. ...Less
- EPFO to discuss making EPF optional for apparel workers
Earlier last year in June, the Centre has brought a package for the textile and apparel sector which was ...More
Earlier last year in June, the Centre has brought a package for the textile and apparel sector which was later extended to made-ups also in December 2016. ...Less
- EPFO may give subscribers option to increase stock investments in new year
The EPFO is developing a software that will show savings in cash and ETF components separately. ...More
The EPFO is developing a software that will show savings in cash and ETF components separately. ...Less
- Posts offices can do employment registration, issue digital life certificates
Bandaru Dattatreya said the NDA government at Centre was determined to provide employment for as many as ...More
Bandaru Dattatreya said the NDA government at Centre was determined to provide employment for as many as five crore youths by 2020. ...Less
- EPFO mulls medical benefits for its pensioners
It was suggested that the surplus in Employees' Deposit Linked Insurance scheme could be used for extendi ...More
It was suggested that the surplus in Employees' Deposit Linked Insurance scheme could be used for extending medical benefits through ESIC. ...Less
- EPFO joins CSC network; pensioners can now submit digital life certificates via CSC networking points
The move will also help pensioners living in remote areas who now don't have to travel to the EPF offices ...More
The move will also help pensioners living in remote areas who now don't have to travel to the EPF offices or banks to file paper-based life certificate. ...Less
- Will go public in next 15-18 months, says SBI Mutual Fund CEO
Ashwani Bhatia of SBI Mutual Fund, says the ongoing market rally is very concentrated, but that does not ...More
Ashwani Bhatia of SBI Mutual Fund, says the ongoing market rally is very concentrated, but that does not make the role of active fund managers any less meaningful. ...Less
- EPFO defers decision to hike investments in ETFs to 15%
EPFO's trustees today deferred the discussion on the proposal to increase investments in ETFs to 15%, fro ...More
EPFO's trustees today deferred the discussion on the proposal to increase investments in ETFs to 15%, from the current 10% of investible deposits, in 2017-18. ...Less
- EPFO considering minimum pension of Rs 1,000
Subscribers of the retirement fund body EPFO may soon get a minimum monthly pension of Rs 1,000 after sup ...More
Subscribers of the retirement fund body EPFO may soon get a minimum monthly pension of Rs 1,000 after superannuation, if a proposal in this regard is cleared by the Finance Ministry. ...Less
- EPFO extends deadline for submitting Aadhaar till March 31
EPFO had made mandatory for subscribers to submit the number for continuing the benefits under its scheme ...More
EPFO had made mandatory for subscribers to submit the number for continuing the benefits under its scheme earlier in January. ...Less
- D V Sadananda Gowda launches Rs 1000 minimum monthly pension scheme in Gujarat
On the occasion, Gowda mentioned various public welfare initiatives taken by the Prime Minister Narendra ...More
On the occasion, Gowda mentioned various public welfare initiatives taken by the Prime Minister Narendra Modi-led Central government. ...Less
- EPFO launches online PF transfer facility for PF trusts
Provident fund accounts with privately held PF trusts can now be transferred online to accounts maintaine ...More
Provident fund accounts with privately held PF trusts can now be transferred online to accounts maintained by the retirement fund body EPFO. ...Less
- Employees' Provident Fund Organisation may allow pledging PF contributions to buy low-cost house
There will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contr ...More
There will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment ...Less
- BJP plans Rs 2 lakh crore construction projects in UP ahead of polls
"The special road package is part of government¡¯s drive to draw up a list of projects that will make a vi ...More
"The special road package is part of government¡¯s drive to draw up a list of projects that will make a visible impact on the ground," said Gadkari. ...Less
- RCAM's assets under management rises by Rs 7,000 cr in April-June
RCAM said its AUM have increased by Rs 7,000 crore in the April-June period 2013, taking the total to Rs ...More
RCAM said its AUM have increased by Rs 7,000 crore in the April-June period 2013, taking the total to Rs 1.80 lakh crore. ...Less
- Decision fixing minimum pension to Rs 1,000 for EPF to be considered: Govt
Government said a decision on fixing the minimum pension amount to Rs 1,000 per month for its EPF subscri ...More
Government said a decision on fixing the minimum pension amount to Rs 1,000 per month for its EPF subscribers will be considered. ...Less
- Unions fume over suspension of Rs1,000 minimum monthly pension
"Prime Minister Narendra Modi has himself announced the Rs 1000 minimum monthly pension. ...More
"Prime Minister Narendra Modi has himself announced the Rs 1000 minimum monthly pension. ...Less
- 10-year benchmark expected to stay range bound
It is the start of the new fortnight, and therefore, call markets should remain easy. Quarter end governm ...More
It is the start of the new fortnight, and therefore, call markets should remain easy. Quarter end government spending is expected to keep liquidity in check. ...Less
- Employees, employers differ on Rs 1,000 pension in EPF scheme
"We have decided to form a committee to suggest modalities for implementing the proposal. The committee w ...More
"We have decided to form a committee to suggest modalities for implementing the proposal. The committee will give its report within a month," Mallikarjun Kharge said. ...Less
- EPFO may fix minimum pension at Rs 1,000 per month tomorrow
Retirement fund body EPFO could take a final call on fixing the minimum pension for its subscribers at Rs ...More
Retirement fund body EPFO could take a final call on fixing the minimum pension for its subscribers at Rs 1,000 per month. ...Less
- EPFO may fix minimum pension at Rs 1,000 at Feb 22 meeting
EPFO is likely to fix the minimum pension for its subscribers at Rs 1,000 per month at the scheduled meet ...More
EPFO is likely to fix the minimum pension for its subscribers at Rs 1,000 per month at the scheduled meeting the Central Board of Trustees. ...Less
- Hike contribution to ensure Rs 1,000 minimum pension: EPFO to Government
In the present scenario, Central Government contributes 1.16 per cent of workers' basic wages (basic pay ...More
In the present scenario, Central Government contributes 1.16 per cent of workers' basic wages (basic pay plus dearness allowance), towards EPS-95 fund. ...Less
- EPFO defers decision on fixing minimum pension at Rs 1,000
Retirement fund body EPFO today deferred a decision on raising the minimum monthly pension to Rs 1,000 fo ...More
Retirement fund body EPFO today deferred a decision on raising the minimum monthly pension to Rs 1,000 for its subscribes. ...Less
- EPFO may fix minimum pension for members at Rs 1,000 per month
The hike in contribution will be over-and-above the 8.33 per cent contributed by employers toward the pen ...More
The hike in contribution will be over-and-above the 8.33 per cent contributed by employers toward the pension account of employees. ...Less
- Time to bond with the best and expand debt market
World over firms have relied on bond sales to fund projects. India has been an exception. ...More
World over firms have relied on bond sales to fund projects. India has been an exception. ...Less
- PFRDA may ask govt to share NPS costs
The pensions regulator may ask the government to partly meet the account maintenance costs of its recentl ...More
The pensions regulator may ask the government to partly meet the account maintenance costs of its recently-launched new pension system (NPS) aimed mainly at the country¡¯s poor. ...Less
- EPFO to use Aadhaar-based cash transfers in 43 districts by December 31
In a directive, labour ministry has told EPFO to embed the Aadhaar number in bank accounts of beneficiari ...More
In a directive, labour ministry has told EPFO to embed the Aadhaar number in bank accounts of beneficiaries in 43 districts by Dec 31. ...Less