COVID 19Hot Off The PressNews

EPFO released  Rs  868 crore pension along with Rs 105 crore arrear on account of restoration of commuted value of pension.

On the recommendation of Central Board of Trustees (EPFO), the Government of India accepted one of the long standing demands of workers to allow restoration of commuted value of pension after 15 years. Earlier there was no provision for restoration of commuted pension and the pensioners continued to receive reduced pension on account of commutation lifelong. This is a historical step for the benefit of pensioners under EPS-95.

EPFO has more than 65 lakhs pensioners catered through its 135 regional offices. EPFO officers and staff battled all odds during this Covid-19 lockdown period  and processed pension payment for May, 2020  to ensure credit of pension in the bank account of pensioners on schedule.


Ministry of Labour and Employment

[Press Release dt. 01-06-2020]

[Source: PIB]

COVID 19Legislation UpdatesNotifications

Due to prolonged lockdown announced by the Govt. to control the spread of COVID-19 and other disruptions due to pandemic, establishments covered under Employees’ Provident Fund & Miscellaneous Provisions Act, 1952 are distressed and unable to function normally and pay the statutory contributions in time.

Considering the difficulty faced by the establishments in timely deposit of contributions or administrative charges due for any period during lockdown, the EPFO has decided that such delays due to operational or economic reasons shall not be treated as default and penal damages should not be levied for such delay.

Circular dated 15.05.2020 has been issued to Field Offices of EPFO containing instructions to the effect that no proceeding shall be initiated for levy of penal damages in such cases which is available under TAB “COVID-19” on home page of EPFO website.

The aforesaid step shall ease the compliance norms for 6.5 lakhs EPF covered establishments and save them from liability on account of penal damages.


Ministry of Labour & Employment

COVID 19Legislation UpdatesNotifications

In view of the extension of the nationwide lockdown, it has been decided by EPFO to allow grace period of 30 days from 16-04-2020 to 15-05-2020 for filing of Electronic Challan cum Return to the employers for those establishments which have disbursed the wages for march, 2020 to their employees.

Employers who seek to avail the above relief, need to file ECR for wage month March, 2020 on or before 15-05-2020, duly certifying the disbursement of wages to employees by declaring actual date of disbursement of wages for March, 2020 in the column “Salary disbursal date: in the ECR and remit the contributions and administrative/inspection charges on or before 15-05-2020.

To read the letter, please follow the link below:

EPF Contribution Due Date Extended For The Month Of March 2020

Legislation UpdatesNotifications

In a move to extend the availability and reach of online services in the wake of the COVID-19 pandemic, EPFO has issued revised instructions to its field offices to facilitate PF members to rectify their date of birth in EPFO records, thus ensuring that their UAN is KYC compliant.

The date of birth recorded in ‘Aadhaar’ will now be accepted as valid proof of date of birth for the purpose of rectification, provided that the difference in the two dates is less than 3 years. The PF subscribers can submit the correction requests online.

This will enable EPFO to validate the date of birth of members online with UIDAI instantaneously, thus authenticating and reducing the processing time of change requests.

EPFO has instructed field offices to expedite disposal of online requests, enabling PF members in financial distress, to apply online for availing non refundable advance from their PF accumulations to tide over the COVID-19 pandemic.


Ministry of Labour and Employment

[Press Release dt. 05-04-2020]

[Source: PIB]

COVID 19Legislation UpdatesNotifications

Union Ministry of Labour and Employment has issued notification GSR 225(E) amending EPF Scheme 1952 to allow withdrawal of non-refundable advance by EPF members/subscribers in the wake of COVID -19 pandemic in the country. The notification permits withdrawal of upto the amount of basic wages and dearness allowance for three months or upto 75% of the amount standing to member’s credit in the EPF account, whichever is less, in the event of outbreak of epidemic or pandemic.

COVID-19 has been declared pandemic by appropriate authorities for the entire country and therefore employees working in establishments and factories across entire India, who are members of the EPF Scheme, 1952 are eligible for the benefits of non-refundable advance. A sub-para(3) under para 68L has been inserted in the EPF scheme,1952. The amended scheme Employees Provident Fund (Amendment) Scheme, 2020 has come into force from 28 March, 2020.

Following the notification, EPFO has issued directions to its field offices for promptly processing any applications received from EPF members to help them fight the situation. In its communication EPFO has stated that officers and staff must process claims of EPF subscribers promptly so that relief reaches the worker and his family to help them fight with COVID-19.

To read the notification, please click on the link below:

NOTIFICATION


Ministry of Labour & Employment

[Press Release dt. 29-03-2020]

[Source: PIB]

COVID 19Legislation UpdatesNotifications

EPFO is disbursing monthly pension to more than 65 Lakh pensioners every month under the Employees’ Pension Scheme, 1995.

 Due to the corona virus pandemic, lock down has been declared in various parts of the country.  In order to ensure that no inconvenience is caused to the pensioners on account of the prevalent situation, Central Provident Fund Commissioner has directed the field offices of EPFO to generate and reconcile pensioners’ details and pension amount statements for the current month by 25th March, 2020.  He further directed that the same should be forwarded to the banks in advance so that the monthly pension is credited into the account of the pensioners in time i.e. during the month of March itself.


Ministry of Labour & Employment

[Press Release dt. 23-03-2020]

[Source: PIB]

COVID 19Hot Off The PressNews

In view of Government of India guidelines to contain spreading of COVID-19, Employees’ Provident Fund Organization (EPFO) advises it members, pensioners and employers to avail various online services offered by EPFO, from the comfort of their homes, and to avoid visiting EPFO offices.

Most of the services of EPFO are available online.  An employee can generate his/her own Universal Account Number (UAN), activate his/her UAN and seed it with Aadhaar, PAN, Bank Account and mobile number (KYC seeding). Employee can also make nominations, view balance in the passbook, update his/her date of exit, transfer his/her account from unexempted to exempted establishment and vice-versa.  Employees have been  further empowered to raise claims online for Provident Fund advances or final withdrawal; pension or  Insurance benefits (EDLI) and receive payment of PF/Pension/Insurance benefits directly in his/her bank account.

Similarly, a pensioner can download his/her Pension Payment Order (PPO) or preserve it in Digilocker; know his PPO number with the help of his/her bank account number or UAN and view passbook.  Pensioners can also update Jeevan Praman (Digital Life Certificate) online any time of the year.

Employers can register their establishments under EPF & MP Act, 1952 and obtain establishment ID; make payment of EPF and allied dues through RTGS/NEFT and submit Electronic Challan cum Return (ECR). Employers have also been facilitated to avail e-inspections of their establishments.

 In case employees, employers and pensioners have any grievance they can get them resolved online through EPFigms portal.  The details of these services and facilities are available at www.epfindia.gov.in.

These facilities are available also on UMANG App. of Government of India, so one can access these online services from his/her mobile too on UMANG App.


Ministry of Labour & Employment

[Press Release dt. 20-03-2020]

[Source: PIB]

Business NewsNews

As reported by media,

Employees’ Provident Fund Organisation (EPFO) will pay interest at the rate of 8.5 per cent for the current financial year.

This is lower than the 8.65% interest rate given on employees’ provident fund (EPF) deposits for the previous financial year 2018-19.

Central Board of Trustees (CBT) of Employees Provident Fund Organisation (EPFO) has recommended an interest rate of 8.5 per cent on provident funds for Financial Year 2019-2020.


[Economic Times]

Business NewsNews

EPFO has taken a number of e-initiatives to provide services and timely information to all its stakeholders in tune with the government’s motto of minimum government and maximum governance. It has now been decided to publish the age-band wise estimate of all new subscribers as declared by their employers. The new employees have been categorised in six age bands like less than 18; 18-21; 22-25; 26-28; 29-35 and more than 35 years of age. This data can be helpful in policy making, planning and research work as the planners may have an idea as to what is the estimate of employees in different age band. EPFO has so far been intimating its members by way of SMS on credit of their respective monthly contribution into their accounts. Now, credit information is available through e-passbook online and UMANG mobile App as well as through missed call service for all members. EPFO members whose monthly contribution is regularly received may view their contribution details using any of these options. However, the members whose contributions are not deposited in time remain uninformed. It has now been decided that an intimation by way of SMS/email shall be sent to members who have registered their Mobile Number / email ID against respective Universal Account Number.

Ministry of Labour & Employment