Page 5 - Epfo

20 mn construction workers get Rs 5,000 cr as relief during pandemic: Govt

He expressed gratitude towards all officials and regional offices of these three organisations for their collective dedication

Govt may allow EPFO to invest in cash-starved infra sector through AIFs

At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds (of around Rs 1.5 trillion) in debt-related instruments

Spike in internal remittance, EPFO registrations indicate recovery: Report

Indicating a faster-than-expected recovery, remittances from migrant labourers and the number of first-time EPFO registrations have crossed the pre-lockdown levels in September, according to a report

Spike in enrollments deceptive as high volatility mars EPFO payroll data

A certain set of establishments (not all), with at least 20 employees, are required to make contribution towards the provident fund (PF) of its workforce.

EPFO records over 1 mn new enrolments in August up from 748,000 in July

Provisional payroll data released by the EPFO last month had shown that net new enrolments stood at 845,000 in July this year

Labour minister commends EPFO officials for speedy claim settlement

Labour Minister Santosh Gangwar on Monday felicitated officials of retirement fund body EPFO's Delhi West office, who settled 100 per cent withdrawal claims within 24 hours during during the pandemic

EPFO launches facility for bulk transfer of funds from exempted trusts

Retirement fund body EPFO has launched a facility for bulk transfer of funds from exempted establishments through a single payment. Exempted establishments are those which have been granted exemption under Section 17 of EPF & MP Act, 1952 and manage the provident fund of members themselves under overall supervision of the Employees' Provident Fund Organisation (EPFO). "Apurva Chandra, Secretary (Labour & Employment) launched a new facility of bulk transfer of funds and data from exempted trusts to EPFO through a single payment, during his first visit to EPFO headquarters, on 7th October, 2020," a labour ministry statement said. EPFO has now released the functionality for bulk transfer of funds from exempted establishments to EPFO through a single payment. This facility will enhance ease of doing business by increasing the speed of funds transfer for exempted establishments. On change of employment of a member from exempted to unexempted establishment, his past accumulations ...

ESIC-run social security scheme adds 741,000 new members in July

The NSO report showed gross enrolments of new subscribers with the ESIC were 15.1 mn in 2019-20, against 14.9 mn in the previous fiscal

What makes the NPS so crucial to retirement planning in an ageing India

India still does not have a "one retirement account" concept, with the intended money distributed across various schemes. Pension fund managers are underlining NPS as the preferred way ahead

Reliance Capital lenders appoint SBI Caps, JM Financial to sell assets

Move follows default on debt to debenture holders who form 99% of the firm's liability

Nearly 3.8 mn EPF members withdraw Rs 44,000 cr since lockdown: Labour Min

The maximum amount of Rs 8,968.45 crore EPF withdrawals from March 25 to August 31 were recorded in Maharastra, followed by Karanataka and Tamil Nadu (including Puducherry)

EPFO records 845,000 new enrolments in July, up from 482,000 in June

Provisional payroll data released by the EPFO last month had shown that net new enrolments stood at 655,000 in June this year. The figure has now been revised down to 4,82,352

Nifty50 ETFs' assets base crosses Rs 1 trn, asset under management Rs 2 trn

Also, the total assets under management (AUM) of the ETF (equity and debt) have reached Rs 2 trillion, the NSE said in a statement

Managing expectations

EPFO subscribers should be prepared for lower returns

EPFO to pay 8.5% interest for FY20 in two instalments, cites Covid impact

Organisation is considering crediting interest rate in a staggered manner with the remaining 0.35% to be paid in December 2020

Top headlines: EPFO to pay in instalments, Silver Lake to invest in RIL

Business Standard brings you the top headlines of the day

EPFO decides to credit part of 8.5% interest for FY20: Report

Remaining 0.35 per cent rate of interest on EPF for 2019-20 would be credited into the subscribers account in December this year

EPFO settles 9.4 mn claims of formal sector workers since Covid-19 outbreak

The partial EPF withdrawal by private sector workers doubled during this period compared to last year

EPFO settles 9.4 million claims worth Rs 35,445 cr during April-August

Retirement fund body EPFO has settled 9.4 million claims totalling Rs 35,445 crore during April-August despite Covid-19 related restrictions, an official statement said on Tuesday

Covid-19 selloff in March eats into EPFO equity returns in FY20

Investments accrue return of -8.3 per cent for the fiscal, down from 14.7 per cent in the previous fiscal