EPFO
EPFO new instructions
The Employee Provident Fund Organization recently issued new instructions on how employees should apply for pensions. Earlier the amount contributed towards the scheme was capped at Rs 15,000. Now EPFO says the employees can contribute more than this. That is, ..
Month: Current Affairs - February, 2023
Category: Government Schemes Current Affairs
EPFO Interest Rate -Update
Employees’ Provident Fund Organization (EPFO) has decided to reduce the interest on provident fund (PF) deposits from 8.5% in 2020-21 to 8.1% in 2021-22. About the reduction in interest rate The interest rate of 8.1% will be the lowest interest ..
Month: Current Affairs - March, 2022
Category: Economy & Banking Current Affairs
Dip in EPF Savings- Highlights
According to Union Government, about 7.63 million salaried workers have used their retirement savings to deal with covid-19 crisis since 2020. Back then, centre had allowed EPF subscribers to withdraw more money from their Employees’ Provident Fund corpus so that ..
Month: Current Affairs - June, 2021
Additional benefits under ESIC & EPFO schemes for dependents of workers
Ministry of Labour and Employment has announced additional benefits for workers under ESIC and EPFO schemes for the dependents of workers passing away due to Covid-19 disease. Highlights Additional benefits will help in reducing fear and anxiety of workers about ..
Month: Current Affairs - May, 2021
Atma Nirbhar Bharat Rozgar Yojana launched to boost employment
On November 12, 2020, Finance Minister Smt Nirmala Sitharaman announced the fourth economic stimulus package. During the announcement, the Finance Minister introduced the “Atma Nirbhar Bharat Rozgar Yojana”. Atma Nirbhar Bharat Rozgar Yojana The beneficiaries of the scheme include employees ..
Month: Current Affairs - November, 2020
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 ..
Month: Current Affairs - May, 2020
EPFO lowers interest rate on deposit to 8.50% for FY2019-20
Employees Provident Fund Organisation (EPFO) on Thursday lowered the interest rate on deposits to 8.50 per cent for the current financial year 2019-20. The interest rate, which is the lowest rate fixed in seven years, was reduced from the previous ..
Portal Santusht launched: To implement policies of Labour Ministry at grass root level
The Portal Santusht is an Implementation Monitoring Cell that was launched by the Ministry of Lobour and Employment in January 2020. The portal addresses delivery of public services, their transparency, accountability, schemes and policies at grass root level. Highlights The ..