Government To Bring Out Low-Cost Housing Scheme For PF Subscriber

The Labour Ministry will come out with a scheme to provide low-cost housing for Employees’ Provident Fund Organisation (EPFO) subscribers, Union Minister Bandaru Dattatreya said on Sunday. “To further encourage members to continue their PF membership throughout their working life we are actively considering a proposal to assist PF members in getting a house by… Continue reading

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PF Body Wants Your Money To Be Deposited Via Online Mode Only

Retirement fund body Employees’ Provident Fund Organisation (EPFO) has asked its over 120 field offices across the country to ensure that all employers are depositing their provident fund contributions only through electronic mode by using the Internet banking. It has been witnessed that despite clear instructions, about Rs. 477 crore was deposited in July through… Continue reading

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Rajya Sabha passes Bill to raise maternity leave to 26 weeks

The Rajya Sabha on 11th Aug 2016 passed the amendments to the Maternity Benefit Act that seeks to provide 26 weeks of maternity leave to working women and 12 weeks to commissioning mothers and introducing an enabling provision of “work from home” for nursing mothers. The Union Cabinet chaired by Prime Minister Narendra Modi gave… Continue reading

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PF Body May Invest Up To 12% In Equities, Says Minister

Buoyed by strong stock markets, Labour Minister Bandaru Dattatreya has said the Employees Provident Fund Organisation may invest up to 12 per cent of its investable amount in equities over a period of time. According to the minister, as of June 30, retirement fund body EPFO invested Rs 7,468 crore in two index-linked ETFs (exchange-traded… Continue reading

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Universal Account Number Rule Relaxed For PF Settlement: Report

The Employees’ Provident Fund Organisation (EPFO) has eased the provision that requires furnishing of Universal Account Number (UAN) for settlement of claims like PF withdrawal for all those who left membership before January 1, 2014. Retirement fund body EPFO had made it mandatory to provide UAN on claim application forms in December last year. “The… Continue reading

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