Employees' Provident Fund Organisation (EPFO) News & Updates

[manu1991]

So they are increasing lending rates but reducing savings rates..not going to end well

 

[mhsabir]

I thought they announced the rates a while ago. I guess just got approved.

 

[Sushubh]

EPFO subscribers can now opt for higher pension; can ask for 8.33% deduction from total PF contribution

The EPFO has issued a fresh set of instructions for employees who had not opted for pension contributions at a higher wage than wage ceiling and continued to be in service on or after September 1, 2014.

indianexpress.com

 

[Smh]

Anyone here opting for higher pension? EPFO is really making it difficult to make an informed choice, last date is mar 03 or 04 and they are yet to release the joint option form.

Too many doubts and if they release some new way to calculate pensionable salary.

 

[Smh]

How EPFO is able to get away with such poor management of employees funds. Everyone has some issues with it.

Example:- Why they cannot automatically stop accepting pension contribution when 58 yrs age is reached, they know DOB. They will continue to accept money then reject your claim when you want to withdraw and not fix it simply by transferring extra amount to EPF. So you have to go to your employer and tell EPFO to fix it.

Pre UAN data is completely messed up, old pf member id not working. Old companies some closed their operation, some merged. And for everything you need employer.

The damm site doesn't work for days sometime. No proper documentation about how anything even works.

 

[Smh]

https://unifiedportal-mem.epfindia.gov.in/memberInterfacePohw/ 404 higher pension form.

 

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[Sushubh]

Govt worry on EPS: Gap between benefits and contribution, shifting demographics

As number of pensioners rise in coming decades, liability is expected to shoot up

indianexpress.com

 

[Sushubh]

EPFO continues to invest in Adani Ports, Adani Enterprises despite the recent rout

The EPFO board is meeting on March 27 and 28 to discuss the higher salary-linked pension, FY23 interest rates and annual financial estimates. Its investment in Adani stocks could be taken up for discussion

www.moneycontrol.com

 

[mikrotik]

Its election time!

 

[Sushubh]

EPFO stops pension payouts to section of pensioners | The Financial Express

 

[Navjot Singh]

This is evil.

 

[Sushubh]

EPFOâs IT system collapsing, software causing wastage of time: officers send SOS to Centre

Warning that any delays in procuring new servers and hardware will cost the EPFO and its members âdearlyâ, the EPF Officersâ Association (EPFOA) has pointed out that they maintain over 25 crore employeesâ PF accounts, with a massive corpus of â¹21 lakh crore.

www.thehindu.com

 

[Sushubh]

Source

 

[Navjot Singh]

12ft

MARKING a clear and significant departure from current practice, the Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) has been told not to publicly announce the interest rate beginning financial year 2023-24 without prior approval from the Ministry of Finance.

This comes after the Finance Ministry, in a communication to the Labour Ministry in early July, pointedly flagged the issue of the EPFO having slipped into a deficit of Rs 197.72 crore, as against its projected surplus of Rs 449.34 crore for FY 2021-22. This was cited as a reason for intervening and modifying the interest rate announcement mechanism.

Indeed, flagging the deficit, the Finance Ministry also suggested that the high EPF interest rates need to be looked at. “Broad congruence between prevailing market interest rate and EPFO interest rate strengthens monetary policy transmission efforts of the Government,” the Ministry said.

 

[Sushubh]

EPFO removes Aadhaar as valid proof for date of birth. Check valid documents

EPFO has followed a directive from the Unique Identification Authority of India (UIDAI).

www.hindustantimes.com