After Year Of Flip-Flops, EPFO Buckles Up For Digital Ride

Contract Labour Management System

After remaining in the news mostly for wrong reasons this year, retirement fund body EPFO is looking to cross the digital Rubicon by way of providing a host of online services to its nearly 4 crore subscribers, including electronic settlement of PF claims. The idea is to increase ease of doing business for over 6… Continue reading

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PF Body Launches Employees Enrolment Campaign For 2017

Contract Labour Management System

Retirement fund body EPFO on Thursday formally launched the Employees Enrolment Campaign, 2017, to encourage firms to enroll their employees under its schemes at nominal damages of Rupee one per annum. Under the scheme, the employee’s share of contribution, if declared by the employer as not deducted, shall stand waived, the Employees’ Provident Fund Organisation… Continue reading

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Staffing industry calls for amendments of Contract Labour Act

Contract Labour Management System

The staffing industry is seeking amendments in the Contract Labour (CLRA) Act and asking for lower tax deductions to promote the growth of the flexi-staff in the formal sector, which is likely to witness an increased flow of workers with the government pushing for salary payment through banks. Under the aegis of Indian Staffing Federation,… Continue reading

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Now, even idle EPF account will earn interest !

In a significant development, the Ministry of Labour has relaxed the definition of ‘inoperative’ employee provident fund (EPF) accounts, which do not earn any interest. Now, if an EPF account is lying idle for 36 months or more, it will not automatically be treated as inoperative, but will continue to accrue interest. The details are… Continue reading

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Demonetisation: Rise in bond prices pushes up NPS returns but EPF rate may be cut

Demonetisation may have caused problems in daily life, but it has also given a boost to the retirement savings of millions of Indians. Bond yields, which were already on the decline, have plummeted 56 basis points since 8 November, pushing up bond prices. NPS funds, which hold long-term bonds, have benefitted from the development. All… Continue reading

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