Employees Provident Fund Current Affairs, GK & News

Employees Provident Fund

Employees provident fund is a scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It involves the accumulation of retirement benefits through equal contributions from the employee and employer to the fund every month. It is managed by the employees provident fund organisation. The Union Budget has proposed the taxation of the interest ..

EPF contributions to revert to old levels from August

As part of relief measures of the Government of India for both employers and employees during the COVID 19 pandemic, Employees’ Provident Fund (EPF) contribution was slashed by 4% for the months of May, June and July but from August onwards, the deduction will be as the old rates. Background In May 2020, the Finance ..

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EPFO Scheme: Rs 764 crore released to the pensioners

On May 5, 2020, the Employees Provident Fund Organization has released Rs 764 crores to the pensioners. Highlights Around 135 field offices of the scheme processed the payment. This has been done in advance to avoid inconvenience of the pensioners during lock down. The bank branches all over the country have been directed to make ..

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Examining the Government Data on Job Creation

The Prime Minister while addressing the Lok Sabha made the following claims about the creation: New jobs were created in the unorganised sector, which accounts for 80-85 per cent employment. PM cited an increase in the sale of commercial vehicles, infrastructure building and housing activities as evidence for the claim. PM further said that 1.8 crore ..

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Kirit Somaiya committee on labour to examine functioning of Employees Provident Fund Organisation (EPFO)

The parliamentary standing committee on labour, which is headed by BJP MP Kirit Somaiya, will examine the functioning of retirement fund body Employees Provident Fund Organisation (EPFO), its coverage and recovery of arrears. It will review the implementation of labour laws, social security and welfare scheme for workers. The committee has selected a wide range ..

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EPFO offers e-pass book to subscribers

The Employees’ Provident Fund Organisation (EPFO) is offering e-passbook facility to its subscribers. Over 50 million of the subscribers can avail e-passbook along with details of their updated accounts online from now. The active subscribers who wish to access the facility will have to register themselves on the EPFO portal by furnishing their account details. ..

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