EPF Pension Increase & Reforming Calculation Formula Are you concerned about your financial security during retirement? If so, you’re not alone. Many individuals rely on their pensions as a source of income in their golden years. In recent years, there has been a significant increase in the Employee Provident Fund (EPF) pension, along with discussions … Read more
Advance Payment for EPFO Employees’ 2022-23 Bonus The advance payment of the Productivity Linked Bonus for EPFO Employees for the year 2022-23 has been authorized, providing financial support and recognition for their hard work and dedication. This bonus, based on productivity levels, serves as a valuable incentive to motivate and reward employees, encouraging them to … Read more
Clarification on Fixation of Pay for PB-2 Grade Pay of Rs.4600 – EPFO On June 13, 2023, EPFO provided clarification on the issue of pay structure for posts that were granted a normal replacement pay structure of Grade Pay Rs. 4200 in PB-2 but have since been upgraded to Grade Pay Rs.4600 in PB-2. This … Read more
Reduction in PF Contribution – Get the Details With a view to bring contribution under Employees’ Provident Funds and Miscellaneous Provisions (EPF & MP) Act, 1952 to be paid by employer and employee at par with other savings instruments like the National Pension System, Contributory Provident Fund etc., an agenda item for lowering the rate … Read more
PLB Order for EPFO Employees The Employees’ Provident Fund Organization recently issued orders stating that eligible Group C and Group B (Non-gazetted) employees will receive a 60-day Productivity Linked Bonus. This bonus is a reward for their hard work and dedication to the organization over the past year. The bonus is applicable to those who … Read more
The Central Board proposed an annual interest rate of 8.15% to be added to the EPF balances of members for the financial year 2022-23. Once approved by the Ministry of Finance, the interest rate will be officially published in the government gazette, and EPFO will credit the appropriate interest rate into the accounts of its … Read more
EPF Pensioners now have a new option for a higher pension, as per the directions of the Hon’ble Supreme Court judgment dated 04.11.2022. The number of beneficiaries will depend on eligible employees exercising a joint option. Pension payout quantum will depend on the number of eligible members opting for a higher salary pension. As of … Read more
Clarification regarding grant of Travelling Allowance, etc., to various persons during disciplinary proceedings: EPFO Also Read | Travelling Allowance as per 7th CPC EPFO, HEAD OFFICE MINISTRY OF LABOUR & EMPLOYMENT, GOVERNMENT OF INDIA BHAVISHYA NIDHI BHAWAN, 14, BHIKAJI CAMA PLACE, NEW DELHI 110066 www.epfindia.gov.in FileNo:LC-4 (Legal opinion )2019/vol-iii/E-FileNo.12943/11574Dated: 19.10.2022 To, All Addl. CPFCs in … Read more
Minimum Pension Under Employees’ Pension Scheme (EPS) 1995 The Government had, for the first time, provided a minimum pension of Rs.1000/- per month to the pensioners under Employees’ Pension Scheme (EPS), 1995 from 01.09.2014 by providing additional budgetary support. In addition, Government provides budgetary support of 1.16% of wages of the member to the Employees’ … Read more
Ex-gratia amount of Rs. 10 Lakh shall be granted to the family member /legal heirs / dependent in case of unfortunate death of an employee of EPFO due to Covid-19 Employees Provident Fund Organisation Ministry of Labour & Employment, Government of India Bhavishya Nidhi Bhawan, 14, Bhikaiji Cama Place, New Delhi-110066 Website: www.epfindia.gov.in No.B-11/1/2020-HRM-VI/333 Dated: … Read more