EPFO to spend over Rs 13 crore on employee welfare in FY25
The Employees' Provident Fund Organisation (EPFO) has announced to spend Rs 13.10 crore for welfare of its 15,529 employees across 145 offices in FY25, which includes Rs 74.37 lakh for holiday homes. According to an EPFO circular, Rs 2 crore has been allocated as central pool (death relief fund).
![EPFO to spend over Rs 13 crore on employee welfare in FY25](https://cdn.zeebiz.com/sites/default/files/2024/09/21/320840-epfo.jpg?im=FitAndFill=(1200,900))
The Employees' Provident Fund Organisation (EPFO) has announced to spend Rs 13.10 crore for welfare of its 15,529 employees across 145 offices in FY25, which includes Rs 74.37 lakh for holiday homes. According to an EPFO circular, Rs 2 crore has been allocated as central pool (death relief fund).
The budget includes Rs 94.25 lakh towards scholarship. whereas 1.88 crore towards other activities fund. The welfare fund allocated for OA-medical checkup comprises Rs 3.97 crore on employees over age 40 and Rs 1.27 crore towards employees who are less than 40 years.
Moreover, the organisation has kept Rs 1.26 crore on mementos across all offices, Rs 29 lakh on cultural meets, and another Rs 61 lakh on canteen.
EPFO has also announced a new rule under which, when an individual changes jobs, their old Provident Fund (PF) balance will be automatically transferred to the new employer.
According to Union Labour minister Mansukh Mandaviya, EPFO members and subscribers can withdraw Rs 1 lakh from their PF account instead of previous limit of Rs 50,000. The government has now eased regulations and has hiked the one-time withdrawal limit from PF accounts.
The minister said this week that the government aims to enhance EPFO operations and minimise challenges for subscribers.
EPFO added 19.29 lakh net members in June this year, which represents a 7.86 per cent increase over the same month last year.
Earlier this month, the Centre approved the Centralised Pension Payments System (CPPS) that will benefit more than 78 lakh people under the Employee Pension Scheme (EPS), which is part of EPFO.
EPS pensioners can get pension from any bank, any branch, anywhere in India from January 1, 2025.
In the next phase, the government will transition to the Aadhaar-based Payment System (ABPS).
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-kisan-vikas-patra-monthly-income-scheme-recurring-deposit-public-provident-fund-national-savings-certificate-ssy-features-interest-rate-post-office-investment-schemes-for-general-and-senior-citizens-347531](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/17/353527-your-paragraph-text-17.jpg?itok=AwJK0DKA)
Post Office Guaranteed Return Schemes: PPF, SCSS, NSC, and 5 other financial schemes that provide up to 8.2% interest rate
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-revised-home-loan-revised-emi-interest-rates-eblr-calculator-know-how-much-amount-you-may-save-every-month-on-inr-rs-2000000-10000000-loans-after-25-25-bps-cut-state-bank-of-india-calculations-347516](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/17/353526-7th-pay-commission-salary-calculator-1.jpg?itok=3_KFsLEH)
SBI Home Loan EMI Calculations: Know how much you can save monthly on Rs 20 lakh-Rs 1 crore loans after 25 bps rate cut
![https://www.zeebiz.com/personal-finance/photo-gallery-power-of-compounding-sip-mutual-fund-retirement-corpus-planning-calculator-how-many-years-it-will-take-to-reach-inr-rs-80000000-with-7000-11000-and-16000-monthly-investment-market-linked-return-346156](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/11/352047-poc-cover-2.jpg?itok=Fa26qSfi)
Power of Compounding: How long it will take to build Rs 8 crore corpus with Rs 7,000, Rs 11,000 and Rs 16,000 monthly investments
![https://www.zeebiz.com/personal-finance/photo-gallery-7th-pay-commission-monthly-salary-calculator-is-your-basic-salary-inr-rs-24500-53000-81100-know-your-total-salary-8th-matrix-salary-scale-band-grade-dearness-allowance-travel-hra-house-rent-347484](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/17/353484-7th-pay-commission-salary-calculator.jpg?itok=exBYKLyX)
Monthly Salary Calculations: Is your basic salary Rs 24,500, Rs 53,000, or Rs 81,100? Know how much total salary central government employees may get
![https://www.zeebiz.com/personal-finance/photo-gallery-new-income-tax-bill-regime-slabs-old-existing-proposed-revised-calculator-what-will-be-your-tax-on-annual-income-salary-of-inr-rs-800000-1400000-2000000-2600000-nirmala-sitharaman-budget-2025-346889](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/352870-top7-hybrid-funds-in-10-years-1.jpg?itok=UqwoA5Li)
Income Tax Calculations: What will be your tax liability if your salary is Rs 8 lakh, Rs 14 lakh, Rs 20 lakh, and Rs 26 lakh?
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-large-and-mid-cap-sip-mutual-funds-with-best-cagr-return-by-one-time-investment-5-years-calculator-rs-15-lakh-investment-in-no-1-scheme-is-worth-446-lakh-nifty-bse-hdfc-uti-icici-quant-motilal-347423](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/17/353453-top-7-large-and-mid-cap-mutual-funds-in-5-years.jpg?itok=HVXazooH)
Top 7 Large and Mid Cap Mutual With Best Returns in 5 Years: Rs 1.5 lakh one-time investment in No. 1 scheme has sprung to Rs 4.46 lakh
![https://www.zeebiz.com/personal-finance/photo-gallery-employees-pension-calculation-what-will-be-your-monthly-pension-with-rs-35000-salary-25-years-of-service-age-33-retirement-corpus-epf-eligibility-benefits-income-formula-347502](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/17/353507-eps-1.jpg?itok=QiOr5Wja)
EPS Pension Calculation: Estimate your monthly pension with Rs 35,000 salary, 25 years of service & age 33
![https://www.zeebiz.com/personal-finance/photo-gallery-retirement-corpus-mutual-fund-lump-sip-one-time-investment-planning-calculator-calculations-how-inr-rs-1000000-deposit-can-create-rs-30000000-fund-in-30-years-power-of-compounding-347205](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/14/353193-salary-da-calculator.jpg?itok=-EhQme5U)
Retirement Planning: How one-time investment of Rs 10,00,000 can create Rs 3,00,00,000 retirement corpus
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-444-day-fd-vs-central-bank-of-india-444-day-fixed-deposit-which-can-provide-higher-maturity-on-rs-500000-700000-1000000-deposits-compare-interest-rates-for-maximise-returns-with-special-fd-346476](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352408-special-fd.jpg?itok=myx6xfFk)
SBI 444-day FD vs Central Bank of India 444-day FD: Which can provide higher maturity on Rs 5,00,000, Rs 7,00,000 & Rs 10,00,000 deposits?
03:50 PM IST