The Latest Breaking News from EPFO

Union Labour Minister Bhupender Yadav met representatives of employees and employers in the Central Board of Trustees (CBT) of the Employees Provident Fund Organisation (EPFO) to discuss HR and administrative issues. Complaints of delays in processing joint options of employees for higher pension were raised.

EPFO grievance redressal adalat to be held in Kollam on Nov 28. New establishments and schemes to be explained. Employers, PF members and pensioners can participate to clear doubts and file complaints. Contact 0474 2767645, 0747 2751872 for more info.

Congress attacks Modi government over unemployment; alleges manipulation of NCRB data. Congress claims data from EPFO, Azim Premji University and CMIE show formal sector employment down and PM's rozgar melas a "mockery" of government functioning.

The Hindu’s Morning Digest brings readers a select list of stories to start the day

EPFO likely to extend deadline for employers to validate joint options for higher PF pension by 3 months. Employers cite technical delays and issues accessing employment details of applicants. Union Labour Ministry considering requests and likely to take lenient view

Pre-2014 retirees exploring legal challenge to EPFO's December 2022 and January 2023 circulars, which impose "unrealistic" stipulations, rendering them ineligible for higher pension. SC dismissed clarification apps, contempt and review petitions pertaining to Nov 2022 judgment. Challenge to circulars requires writ petitions before HCs/SC.

The Indian government has been using the Employees Provident Fund (EPF) scheme’s data as a measure of payroll employment and formal job creation since 2017. The monthly data released from this initiative has generally shown an increase in the number of contributors, which is portrayed as evidence of employment creation…

Warning that any delays in procuring new servers and hardware will cost the EPFO and its members “dearly”, the EPF Officers’ Association (EPFOA) has pointed out that they maintain over 25 crore employees’ PF accounts, with a massive corpus of ₹21 lakh crore.

The CBT had recommended an increase to 8.15% from 8.10% interest to the deposits on March 28, 2023. Read more on The Hindu.

The order came after the Finance Ministry’s concurrence to the EPF rate of interest approved by EPFO trustees earlier in March this year. Read further on Dynamite News:

EPFO Regional Committee in Chennai discussed issues to improve performance, address grievances, increase coverage, and curb evasion. Pankaj, Additional Central P.F. Commissioner, announced appointment of nodal officer to monitor grievances and 200 letters issued to employers to bring uncovered contractor employers in fold.