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Labour Ministry

Retail inflation for industrial workers declines to 4-month low

Retail inflation for industrial workers declines to 4-month low

Thu, Jul 11, 2024

The Consumer Price Index-Industrial Workers (CPI-IW) has been steadily declining since February this year and was 3.87 per cent in April 2024, figures compiled by the Labour ministry show.

Are Indian employers hiring more now as EPFO monthly subscriber additions hit record high?

Are Indian employers hiring more now as EPFO monthly subscriber additions hit record high?

Fri, Jun 21, 2024

EPFO latest enrollment data: The Ministry of Labour and Employment said that it had added 18.92 lakh net members during April 2024, a record since the ministry started collecting data in April 2018, a 31.29 per cent surge from the corresponding figure for March 2024. The five states with the most new EPFO members are Maharashtra, Karnataka, Tamil Nadu, Gujarat, and Haryana.

EPFO adds 13.95 lakh net members during November 2023: Labour ministry

EPFO adds 13.95 lakh net members during November 2023: Labour ministry

Sun, Jan 21, 2024

The payroll data reflected that approximately 10.67 lakh members exited but rejoined EPFO.

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EPFO may bring 500 small private PF Trusts into its fold

EPFO may bring 500 small private PF Trusts into its fold

Sun, Jun 25, 2017

Retirement fund body EPFO may bring 500 private PF trusts within its fold whose EPF accumulations are around Rs 1 crore each, or have up to 20 members, for offering better services to those subscribers.

'Universal pay' may soon be a reality in India; find out what it is

'Universal pay' may soon be a reality in India; find out what it is

Mon, Jun 12, 2017

Government of India is readying Universal Wage Code Bill which aims to end pay-gap. The minimum income guarantee applies also for those workers, who are earning more than Rs 18,000.

EPFO extends deadline for submitting Aadhaar to June 30

EPFO extends deadline for submitting Aadhaar to June 30

Wed, Jun 07, 2017

Retirement fund body EPFO has extended the deadline for submitting Aadhaar number to June 30 for its over four crore members. However, the deadline for submission of Aadhaar number would be September 30, 2017 in case of north-east states.

This crucial EPFO decision may increase your 'in-hand' salary

This crucial EPFO decision may increase your 'in-hand' salary

Fri, May 26, 2017

The labour ministry received several representations stating that the move will leave more money with workers for expenditure and reduce employers liability, which will eventually perk up economy.

EPFO to take call on increasing ETF investment to 15%: Labour Minister

EPFO to take call on increasing ETF investment to 15%: Labour Minister

Mon, May 22, 2017

The Finance Ministry had earlier notified a new investment pattern for EPFO, allowing the body to invest a minimum of 5 per cent and up to 15 per cent of its funds in equity or equity-related schemes.

EPFO settlement: Labour Minister launches website to bring down claims

EPFO settlement: Labour Minister launches website to bring down claims

Wed, May 17, 2017

Ministry said that Citizen' Charter 2017 will make service delivery system and grievance redressal mechanism more efficient so that it delivers goods and services to its stakeholders in a time bound manner.

Planning to use your Provident Fund? Here's how you can check PF status online

Planning to use your Provident Fund? Here's how you can check PF status online

Mon, May 15, 2017

EPF balance consists of amount deducted every month from your salary plus the amount that is contributed to your EPF account by your employer.

You can withdraw EPF for treatment without doctor certificate

You can withdraw EPF for treatment without doctor certificate

Thu, Apr 27, 2017

Now, the subscribers can seek fund withdrawal from their EPF account on various grounds by using a composite form along with a self-declaration.

Now you can use 90% of your EPF to buy a home. Keep these 5 conditions in mind

Now you can use 90% of your EPF to buy a home. Keep these 5 conditions in mind

Tue, Apr 25, 2017

The 68B talks about the withdrawal from the Fund for the purchase of a dwelling house/flat or for the construction of a dwelling house including the acquisition of a suitable site for the purpose.

You can withdraw 90% EPF to buy home, pay EMI from account

You can withdraw 90% EPF to buy home, pay EMI from account

Mon, Apr 24, 2017

The withdrawal facility from the PF account will be available to only those PF members who fulfil the conditions prescribed.

At 8.65%, investing in EPF a better option than fixed deposits

At 8.65%, investing in EPF a better option than fixed deposits

Wed, Apr 19, 2017

EPF and tax-saving fixed deposits both earn a tax break of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.

Finance Ministry okays 8.65% interest on EPF

Finance Ministry okays 8.65% interest on EPF

Sun, Apr 16, 2017

According to EPFO estimates, the fund will see a surplus after providing 8.65% interest rate for the last fiscal.

EPFO to provide 8.65% interest on EPF for FY17: Bandaru Dattatreya

EPFO to provide 8.65% interest on EPF for FY17: Bandaru Dattatreya

Thu, Apr 13, 2017

Labour Minister Bandaru Dattatreya said on Thursday that EPFO has decided to provide 8.65% interest rate on provident fund (PF) deposits for the financial year 2016-17 (FY17).

7th Pay Commission: Gratuity limit hiked to Rs 20 lakh

7th Pay Commission: Gratuity limit hiked to Rs 20 lakh

Tue, Feb 28, 2017

Presently, under the Payment of Gratuity Act, an employee is eligible for gratuity amount only after the completion of minimum five years of service.

Government introduces fresh bill for cashless wages

Government introduces fresh bill for cashless wages

Fri, Feb 03, 2017

The government on Friday introduced a fresh bill on payment of wages through account transfer and cheques, after withdrawing an earlier bill that was introduced in December last year.

Deadline extended by 3 months for companies to get registered with EPFO: Labour Ministry

Deadline extended by 3 months for companies to get registered with EPFO: Labour Ministry

Thu, Jan 12, 2017

The Ministry of Labour and Employment has extended the deadline by three months for companies and other commercial establishments to get registered with the Employees Provident Fund Organisation (EPFO).

No more cash: All wages to be paid via bank transfer, cheques

No more cash: All wages to be paid via bank transfer, cheques

Wed, Dec 21, 2016

He said, "It has been decided to substitute section 6 of the Act so as to enable the employer to pay the wage to the employed person also by cheque or crediting it to their bank account."

Retirement fund body EPFO likely to retain 8.8% interest on EPF for FY17

Retirement fund body EPFO likely to retain 8.8% interest on EPF for FY17

Sun, Dec 18, 2016

Retirement fund body EPFO is likely to retain 8.8% rate of interest on EPF deposits for the current fiscal for its over four crore subscribers -- same as 2015-16 -- at its trustees meeting on December 19, Monday.

Labour Ministry wants to retain 8.8% interest on EPF for FY17

Labour Ministry wants to retain 8.8% interest on EPF for FY17

Thu, Dec 15, 2016

The Labour Ministry is pitching for retaining 8.8 % interest rate on EPF deposits of over 4 crore subscribers of the retirement fund body EPFO for 2016-17 and trying to bring the Finance Ministry on board.

EPFO to invest Rs 13,000 crore in ETFs in FY17: Bandaru Dattatreya

EPFO to invest Rs 13,000 crore in ETFs in FY17: Bandaru Dattatreya

Thu, Sep 29, 2016

Brushing aside strong opposition from the unions, Labour Ministry on Thursday doubled EPFO's investment limit in ETFs to 10% that will result in Rs 13,000 crore of the retirement fund body flowing into stock markets in the current fiscal.

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