EPFO - Grant of TTA /Joining Time to officials / officers on appointment

EPFO - Grant of TTA /Joining Time to officials / officers on appointment

EMPLOYEES PROVIDENT FUND ORGANISATION

MINISTRY OF LABOUR AND EMPLOYMENT, GOVERNMENT OF INDIA

Bhavishya Nidhi Bhawan , 14, Bhikaiji Cama Place, New Delhi 110066

www.epfindia.gov.in; www.epfindia.nic.in

No. HRM-II/A.10(81)2016/941/3507

Dated: 18 June 2019

To
All Additional CPFCs (Zones)/ Director (PDNASS),
All Regional Provident Fund Commissioners
– Incharge Regional Offices! ZTIs/ RPFC(ASD). Head Office

Sub.: Grant of TTA/ Joining Time to officials / officers on appointment in EPFO - reg.

Madam/Sir,

The Head Office has been receiving representations from the Direct Recruit Assistant Provident Fund Commissioners who were employed in other Central Government Department and had applied through proper channel for appointment in Employees’ Provident Fund Organisation, for granting them TTA/Joining Time on their appointment in this Organisation.

As per provision of SR 114 Travelling allowance is admissible to a Govt. Servant on transfer from one station to another, if he is transferred in public interest and entitled to joining time pay during the period of journey. As per Government of India decision (i) appended below a provision SR 114, it has been further clarified that:

(i) T.A to officials getting appointed under central Government through examination/interview – It has been decided that joining time and joining time pay should be granted as follows to Government servants appointed to posts under the Central Government on the results of a competitive examination which is open to both Government servants and others-:

(a) Joining time should ordinarily be permitted for all Government servants serving under the Central Government and for Provincial Government servants who hold permanent posts in a substantive capacity and that,
(b) no joining time pay should be granted except,-
(i) When the Government servant holds a permanent post under
Government (including a provincial Government) in a substantive capacity, or
(ii) In the case of appointments through the Home Department to the ministerial establishment of the Government of India Secretariat and attached or subordinate offices when a candidate originally nominated to a vacancy likely to become permanent is re-nominated to another such vacancy owing to the cessation of the former.

(c) Traveling allowance under SR 114. should also be granted in cases where Joining time pay is granted under Clause (b) above. This also applies to a Government servant selected after an interview for appointment to a post under central Government.

By implication of Government of India decision (i) under SR 114, a permanent Government Servant who has been permitted Joining Time as well as Joining Time pay, to be allowed Travelling Allowance under SR 114 on the results of the Competitive Examination which is open to both Government Servants and Others and even in case of Government Servant selected after an interview for appointment to the post of Central Government.

However, admissibility of Composite Transfer Grant. is governed by the provisions of SR 116(a). As per the entitlement w.e.f 01.10.1997, it is payable equal to (a) one month’s Basic pay, (b) Actual fare for self and family for journey by rail/steamer/air, (c) Road mileage for journey by road between places and connected by rail, (d) Cost of transportation of personal effects from residence to residence, (e) Cost of transportation of conveyance possessed by the employee.

EPFO being an autonomous body, FR and SR have been adopted by the Central Board and there is a parity in terms of the Rules. The GID no. (i) below SR 114 applies to the cases of permanent Govt. servant who have been appointed through Competitive examinations in other Government Department. However by analogy a Government Servant who is entitled to transfer allowance under SR 114 would be entitled under SR 116 as a natural corollary and hence the same may be considered to be allowed in such cases.

In view of the above. all such representations for grant of TTAI Joining Time may be examined in the light of SR-114. SR-116 and DOPT OM No. 2802011/2010- Estt.(C) dated 08.04.2016. It is reiterated that the benefit of TTA/ Joining Time on appointment is admissible only in cases where the officer was earlier employed as Permanent Central /State Government servant and had applied for the post in the new Department through proper channel.

(This issues with the approval of Competent Authority).

Yours faithfully,

(Sanjay Bisht)

Regional Provident Fund Commissioner- I (HRM)

Enclosures: as above.

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EPFO - Finance Ministry has approved 8.65% rate of interest on Employees Provident Fund (EPF) for 2018-19

EPFO - Finance Ministry has approved 8.65% rate of interest on Employees Provident Fund (EPF) for 2018-19

The Finance Ministry has approved 8.65% rate of interest on Employees’ Provident Fund (EPF) for 2018-19 as decided by retirement fund body EPFO, benefitting more than 6 crore formal sector workers.

“The Department of Financial Services (DFS), a wing of Finance Ministry, has given its concurrence to Employees Provident Fund Organisation’s (EPFO) decision to provide 8.65% rate of interest for 2018-19 to its subscribers,” a source privy to the development told PTI.

“The DFS has approved the proposal subject to fulfilment of certain conditions related to efficient management of the retirement fund,” the source said further.

Earlier in February, the EPFO’s apex decision making body Central Board of Trustees headed by labour minister Santosh Gangwar had decided to raise the interest rate on EPF to 8.65% for 2018-19, which was the first increase in the last three years.

The interest rate on EPF was hiked to 8.65% for the last fiscal from 8.55% provided in 2017-18. The EPFO had earlier reduced the interest rate in 2016-17 to 8.65% from 8.8% in 2015-16.

After the Finance Ministry concurrence, the Income Tax Department and the Labour Ministry would notify the rate of interest for 2018-19. Thereafter the EPFO would give directions to its over 120 field offices to credit the rate of interest into subscribers’ account and settle their claims accordingly.
According to the EPFO estimates, there would be a surplus of Rs.151.67 crore after providing 8.65 per cent rate of interest for 2018-19 on EPF. There would have been a deficit of Rs.158 crore on providing 8.7 per cent rate of interest in EPF for last fiscal. That is why the body decided to provide 8.65 per cent rate of interest for 2018-19.

The EPFO had provided a five-year low interest rate of 8.55% to its subscribers for 2017-18.

PTI

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Payment of Pension on higher wages - delay in implementation of Hon'ble Supreme Court Order: EPFO

Payment of Pension on higher wages - delay in implementation of Hon'ble Supreme Court Order: EPFO

EPFO

EMPLOYEES' PROVIDENT FUND ORGANISATION
(Ministry of Labour & Employment, Govt. of India)
Head Office
Bhavishya Nidhi Bhawan, 14, Bhikaiji Came Place, New Delhi - 110 066

No: ACC/HQ/Pension/Distribution of work/3896

Dated: 08 JUN 2018

To
All Regional Provident Fund Commissioners
In charge of Region
Sub: DELAY IN IMPLEMENTATION OF HON'BLE SUPREME COURT ORDER ON PAYMENT OF PENSION ON HIGHER WAGES - REGARDING.

Sir,
Attention is drawn to Head Office Circular dated 23.03.2017 vide which instructions were issued to all field offices to take necessary action in accordance with the order dated 04.10.2016 of the Hon‘ble Supreme Court in SLP No.33032-33033 of 2015 as approved by the government and as per the provisions of the EPF & MP Act, 1952 and Schemes framed thereunder.
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2. However on review of the information received from field offices it is noticed that following offices as mentioned below have reported for compliance on revised pension on higher wages as referred above.

No. of cases revised for higher wages for the year ending 31st March 2018

3. It has also come to notice that some offices have not complied the instructions of Head Office based on the Hon'ble Supreme Court order dated 04.10.2016 as referred above on revision of the pension on higher wages despite applications received in this regard, by taking the plea that reference has been made by those offices to Head Office and that reply has not been received for the clarifications / guidelines sought from Head Office.

4. In this context, the following observations may be noted:

i) Payment of benefits to the members of the EPS-95 have to be regulated as per the provisions of the scheme and all concerned are required to comply with the said provisions.
ii) The manual for settlement of pension alongwith the module for calculation in the software has already been circulated from time to time.
iii) Even prior to the Hon’ble Supreme Court order dated 04.10.2016 Pension cases on higher wages were being settled as per the scheme provisions by utilizing the existing software.
iv) IS Division has already clarified that the revision of pension on higher wages can be processed by utilizing the 10D special module.
v) No instructions can be kept aside for compliance only on the ground that reference has been made to Head Office for further clarification on assumption basis without attempting to comply those instructions practically. Moreover, the revision of cases as detailed out in Para 2 above clearly shows that many field offices are taking appropriate actions on the detailed order of the Hon’ble Supreme Court duly circulated by Head Office for compliance by utilizing the provisions already existing in the relevant software, whereas some offices are deliberately not taking any action to revise the pension claims to eligible members by taking one plea or the other.
vi) Field functionaries are expected to know the provisions of the Act and Scheme and comply accordingly.
vii) Most of the references made to Head Office are sent directly bypassing the Zonal Office and containing no recommendations / suggestions of RPFC-I and Addl.CPFC (Zone)
viii) Non-settlement of pension cases in respect of eligible members in light of the Supreme Court order dated 04.10.2016 has not only put the concerned members to inconvenience but may also amount to disobedience of instructions of Head Office for compliance of the order of the Hon'ble Apex Court.

5. Therefore, it is once again directed to take appropriate steps to revise the pension cases of all the eligible members as per the existing software and the provisions in the Pension Scheme. All references made to Head Office on modalities of revision of pension as per the Hon'ble Supreme Court order on the matter may be treated as disposed and Non est.

6. The number of grievances due to non-settlement of eligible cases is rising and it is made clear that the concerned RPFC-I / Incharge of the Region will be held responsible for denial delay in settlement of such cases to eligible applicants. If any applicant is found not eligible for revision of pension as per Hon'ble Supreme Court order, the same must be conveyed to the applicant within seven days of receipt of such request.

7. All the reference made to the Head Office on the issue of revision of pension on higher wages are accordingly diSposed of and in case any Field Office still requires any clarification/guideline, specific query may be forwarded through proper channel to the Head Office duly incorporating the observations/Suggestion of RPFC-I/OIC and ACC Zone in this regard.

Yours faithfully,

(R M. Verma)
Addl.Central P.F.Commissioner (Pension)

Source: https://www.epfindia.gov.in

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EPFO Introduces 'View Pension Passbook' Service for the pensioners through Umang App

Ministry of Labour & Employment

EPFO Introduces 'View Pension Passbook' Service for the pensioners through Umang App

03 MAY 2018

Employees Provident Fund Organisation (EPFO), which is providing a host of e-services for its stakeholders, has now introduced a new service through 'UMANG app'. On clicking 'View Passbook' option, it requires PPO Number and Date of Birth information to be entered by the pensioner. After successful validation of the information fed, an OTP will be sent to the registered mobile number of the pensioner. On entering OTP, 'Pensioner Passbook' will display the details of the pensioner like Name, DOB along with last pension credited information. The facility to download the financial year wise complete pass book details is also available.

Other e-services of EPFO already available through UMANG aap includes Employee Centric services (View EPF Passbook, Raise claim, Track Claim), Employer Centric Services (Get remittance details by establishment ID, Get TRRN Status), General Services (Search Establishment, Search EPFO Office, Know Your claim Status, Account details on SMS, Account details on Missed Calls), Pensioner Services (Update Jeevan Praman), eKYC services (Aadhaar Seeding).

PIB

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Monthly Payroll Data released for the first time

NITI Aayog

Monthly Payroll Data released for the first time

Numbers indicate the efforts made by the Government on job creation and formalization of the economy.

26 APR 2018

The Employees' Provident Fund Organisation (EPFO), Employees' State Insurance Corporation (ESIC) and the Pension fund Regulatory and Development Authority (PFRDA) have released payroll data.

India has, for the first time, introduced monthly payroll reporting for the formal sector to facilitate analysis of new and continuing employment.

The payroll data, categorized age-wise, for the months September, 2017 to February, 2018 has been released on 25th April, 2018.

The numbers from these three organisations are an eye opener and put an end to all speculations and conjectures regarding job creation in the economy. They also strengthen the efforts made by the Government on job creation and formalization of the economy.

There are other organisations also, such as ICAI, Bar Council, Medical Council and other professional bodies which could have such monthly data for payroll reporting for their professionals.

Data released by EPFO shows that during September, 2017 to February, 2018, 31.10 lakh new additions across all age groups were made in the payroll. Given that the data for recent months is provisional due to continuous updation of employee records, this could be called a conservative estimate. The actual figures may well be more than this.

From the PFRDA, the New Pension Scheme (NPS) data indicates generation of 4.2 lakh new payroll during the given period, that too only from Tier-I account. NPS currently manages the corpus of around 50 lakh employees in State and Central government. For this study the Central and State autonomous bodies have been shown under Central and State governments respectively, while non-government refers to the corporate sector employees.

From the above two organisations itself, 35.3 lakh new payrolls were generated during this six month period.

In addition, the ESIC data also mirrors the payroll growth shown in the other two sets of data from EPFO and PFRDA. Since ESIC data is not Aadhar seeded there is further scope of some modifications.

The payroll data from these three organisations would now be released every month. Given that till now there was no such system in place, this data would provide a more firm basis for various analysis and studies of the economy, job creation, as also aid in policy making. We may as well as bid goodbye to the days of analyses based on random sample surveys. Hopefully this would also end the debate regarding and criticisms about jobless growth in the economy.

A more constructive phase of focusing on deriving the most out of this data for furthering development should now begin.

PIB

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Change of date of birth of members of Employees Pension Scheme 1995

Change of date of birth of members of Employees Pension Scheme 1995

Employees Provident Fund Organisation
Ministry of Labour & Employment. Government of India
Bhavishya Nidhi Bhawan
Bhikaiji Cama Place. New Delhi 110066

No. Pension-l/Instructions/Guidelines/2017/20825

Date. 12 DEC 2017

To
All ACCs (Zonal Offices)
All Regional P.F. Commissioner(In-charge of Regions).

Sub: Change of Date of Birth of Employees Pension Fund Members- reg.
Ref: (i) Head Office letter No. pension-3/8/OR/l/2005/69869 dated 12.12.2006
(ii) Head Office letter No. Pension- I/Instructions/Guidelines/2006/l 1900 dated 07.10.2006
(iii) Head Office letter No. Pension- II/Instructions/Guidelines/2016-17/33314 dated 10.03.2017
(iv) Head Office letter No. Pension- l/Instructions/Guidelines/2017/8351 dated 07.08.2017
(v) Head Office letter No. Pension- I/Instructions/Guidelines/2017/11518 dated 04.09.2017

Sir.
Please refer to this office circulars cited under reference. Further it is to inform that in the meeting on fraud analysis and management in EPFO held on 08.12.2017 at Head Office it was decided to follow the following process for change of date of birth of members of Employees Pension Scheme 1995-

(i) In case the correction required in date of birth is upto plus or minus one year, Aadhaar will be accepted as a valid document for date of birth.

(ii) In case the correction required in date of birth is more than one year. then in addition to Aadhaar. other valid documents will have to be submitted(viz.. matriculation certificate. certificate issued by Registrar (Birth). Passport etc). The concerned member should be intimated for submission of additional valid proof of birth in such cases while applying online/mobile/offline.

2. It is requested to strictly adhere to the aforementioned instructions.

[This issues with the approval of CPFC]

(R.M. VERMA)
Addl. Central P.F. Commissioner- I (Pension)

Source: epfindia.gov.in

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EPFO introduces a new facility for its members to link their respective UAN with Aadhaar online

EPFO introduces a new facility for its members to link their respective UAN with Aadhaar online

On the eve of Deepawali, Employees' Provident Fund Organisation (EPFO) is pleased to introduce a new facility for its esteemed members having Universal Account Number (UAN) and other relevant details to link their respective UAN with Aadhaar online. This, in turn, would facilitate the members, a better and speedy EPFO services.

The facility has been made available at EPFO's website www.epfindia.gov.in >> Online Services >> e-KYC Portal >> LINK UAN AADHAAR.

Using the facility, EPFO members can online link their respective UAN with Aadhaar. While using the facility, the member will have to provide his/her UAN. An OTP will be sent to his/her mobile linked with UAN. After OTP verification, the member will have to provide his/her Aadhaar Number. Another OTP will be sent to his/her mobile/email linked with Aadhaar. After OTP verification, if UAN details are matched with Aadhaar details, then UAN will be linked with Aadhaar. After linking, the EPFO member may avail online EPFO services linked with Aadhaar.

PIB

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EPFO introduces a new facility for its members to link their respective UAN with Aadhaar online

EPFO introduces a new facility for its members to link their respective UAN with Aadhaar online

On the eve of Deepawali, Employees' Provident Fund Organisation (EPFO) is pleased to introduce a new facility for its esteemed members having Universal Account Number (UAN) and other relevant details to link their respective UAN with Aadhaar online. This, in turn, would facilitate the members, a better and speedy EPFO services.

The facility has been made available at EPFO's website www.epfindia.gov.in >> Online Services >> e-KYC Portal >> LINK UAN AADHAAR.
Using the facility, EPFO members can online link their respective UAN with Aadhaar. While using the facility, the member will have to provide his/her UAN. An OTP will be sent to his/her mobile linked with UAN. After OTP verification, the member will have to provide his/her Aadhaar Number. Another OTP will be sent to his/her mobile/email linked with Aadhaar. After OTP verification, if UAN details are matched with Aadhaar details, then UAN will be linked with Aadhaar. After linking, the EPFO member may avail online EPFO services linked with Aadhaar.

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60 Days Productivity Linked Bonus (PLB) for the Employee of EPFO for the year 2016-17

60 Days Productivity Linked Bonus (PLB) for the Employee of EPFO for the year 2016-17

Employees' Provident Fund Organisation
(Ministry of Labour & Employment, Govt. of India)
Head Office
Bhavishya Nidhi Bhawan,14-Bhikaiji Cama Place, New Delhi-110066

No. WSU/25(1)/2016-17/PLB/10141

Date: 20.09.2017

To
All Addl. CPFC (HQ/Zones),
Addl. CPFC (ASD), Head Office
Director (PDUNASS) and
All Regional P.F. Commissioners-Incharge of
Regional Offices.

Sub: Declaration of Productivity Linked Bonus (P.L.B.) for the employees of the EPFO for the year 2016-2017.

Sir/Madam,
The Central Government, in terms of Section 5D(7) of the Employees' Provident Funds Miscellaneous Provisions Act, 1952, has conveyed its approval to the existing Productivity Linked Bonus Scheme for the year 2016-2017 for the employees of EPFO vide letter No A-26022/1/94-SS.1 dated 20th September, 2017.

2. Accordingly, the competent authority is pleased to convey the approval for payment of the Productivity Linked Bonus for the year 2016-2017 for 60 (Sixty) days in all the offices of EPFO. The bonus of 60 days has been assessed on the basis of data/information submitted by the Regional Offices in compliance to Head Office letter dated 21.08.2017. The payment of bonus is to be released to all Group 'C' and Group 'B' (Non-Gazetted) employees of EPFO.

3. The terms and conditions governing payment of P.L.B. will be as per the instructions issued by the Government of India for payment of the bonus to the employees in Central Government departments from time to time. However, the quantum of bonus may be assessed as per the following formula circulated vide Govt. of India, Ministry of Finance O.M. No. 7/4/2014/E.III(A) dated 19.09.2017.

= (AVERAGE EMOLUMENTS) X (NUMBER OF DAYS OF BONUS)
30.4*
(* Average number of days in a month)

4. Further, Ministry of Finance vide O.M. No. 7/4/2014-E-IIIA dated 29.08.2016 has revised the calculation ceiling of monthly emoluments for the purpose of payment of P.L. Bonus from Rs. 3500 to Rs. 7000 revised w.e.f. 01.04.2014.

5. The term 'emoluments' occurring in these orders will include Basic Pay, Personal Pay, Special Pay, Deputation (Duty) Allowance and Dearness Allowance, but will not include other Allowances, such as HRA, CCA Special Compensatory (Remote locality) Allowance, Bad Climate Allowance, Children Education Allowance and Interim Relief etc.

6. The expenditure incurred for payment of bonus may be debited from the budget head "Productivity Linked Bonus."

(This issues with the approval of Central P.F. Commissioner).

Yours faithfully,

(J.K. Sangalay)
Regional P.F. Commissioner-I (WSU)

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Withdrawal under paragraph 68-BD of EPF Scheme, 1952 for housing needs of the PF members

Withdrawal under paragraph 68-BD of EPF Scheme, 1952 for housing needs of the PF members

Employees Provident Fund Organisation
(Ministry of Labour & Employment, Govt. of India)
Head Office
Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place, New Delhi-110066

No: WSU/39(1)2017/Housing Scheme/4106

Date: 24.05.2017

To
All Addl. CPFC (HQ/ Zone),
Regional P.F. Commissioners-incharge of
Regional Offices.

Sub: Withdrawal under paragraph 68-BD of EPF Scheme, 1952 for housing needs of the PF members.
Ref: HO circular dated of even numbers dated 21.04.2017, 02.05.2017 & 19.05.2017

Sir,
Please refer to the above said subject.

2. There are a number of State Housing Boards or other authorities owned by the Government which construct and sell houses. In certain cases their houses remain unsold. Considering this, it is advised that RPFCs-incharge of ROs should contact all such Housing Board/authorities in their jurisdiction and persuade them for allotment of such unsold houses directly to the PF Workers' Cooperative Societies but EPFO shall not recommend or be associated in the agreement with any particular housing agency/housing society. RPFCs should also discuss the issue with PF Workers' Union and employers of establishments for formation of cooperative societies so that the concerned society may also negotiate with such Housing Board/ authorities.

3. Accordingly, it is advised that provisions of paragraph 68-BD of EPF Scheme, 1952 be given due focus and publicity by all such possible means in the interest of the workers.

Yours faithfully,

S/d,
(K.L. Taneja)
Addl. Central P.F. Commission (Housing)

Source: epfindia.gov.in

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Online Facility for Settlement of Claims in EPFO

Online Facility for Settlement of Claims in EPFO

Employees’ Provident Fund Organisation (EPFO) has taken various steps to provide various online services like for claims of provident fund, final settlement, withdrawals and pension fund withdrawal, etc. to its members in a quick and transparent manner. However, no specific date has been fixed. Receipt of transfer claims online has already been introduced by EPFO.

The claims other than transfer claims are received manually but processed on Computer Systems and the benefits credited to members by way of Core Banking Solution (CBS) and National Electronic Fund Transfer (NEFT) to their bank account.

Out of 120 field offices of EPFO, 110 field offices have already been connected with a central server.
This information was given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in written reply to a question in Rajya Sabha.

PIB

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EPFO Invest more than Rs.18 crore in ETFs

EPFO Invest more than Rs.18 crore in ETFs

Employees Provident Fund Organisation (EPFO) is investing in Exchange Traded Funds (ETFs) based on Nifty 50, Sensex and Central Public Sector Enterprises (CPSE) Indices. EPFO does not invest in shares and equities of individual companies.

The total amount invested by EPFO in ETFs as on 28th February, 2017 is as under:

(i) Nifty 50 and Sensex Index based ETFs: Rs. 17,105 crore

(ii) CPSE Index based ETF: Rs. 1,504 crore.

The Employees Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952 is applicable to every establishment employing 20 or more persons which is either a factory engaged in any industry specified in Schedule-I of the Act or an establishment to which the Act has been made applicable by the Central Government by notification in the Official Gazette.

An Employees Enrolment Campaign, 2017 has been launched for the period 01.01.2017 to 31.03.2017 to bring in more workers under the ambit of EPFO. Under the campaign, an employer, whether already covered or yet to be covered, can enroll employees who remained un-enrolled for any reason between 01.04.2009 and 31.12.2016 by making a declaration of such employees during the campaign period. Such declaration shall be valid only in respect of employees who are alive as on 1st January, 2017 and no proceedings under Section 7A of the EPF & MP Act, 1952 or under paragraph 26B of the Employees Provident Funds (EPF) Scheme, 1952 or under paragraph 8 of the Employees Pension Scheme (EPS), 1995 have been initiated against their establishment or employer, as the case may be, to determine the eligibility for membership of such employees.

This information was given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment,in written reply to a question in Rajya Sabha today.

PIB

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Pledging PF to buy home may soon become a reality

Pledging PF to buy home may soon become a reality

Retirement fund body EPFO may soon introduce a scheme to allow its over 4 crore subscribers to pledge their provident fund to buy low-cost houses and use the account to pay equated monthly installments.
“We are working on a housing scheme for members of the Employees’ Provident Fund Organisation (EPFO). Under it, members will be allowed to pledge their PF accumulations to buy homes,” Labour Secretary Shankar Aggarwal told PTI.

He added that the proposal will be placed before the EPFO’s Central Board of Trustees meeting expected next month. Once approved by the CBT, the scheme will be available for the subscribers.

Finer points of the scheme, as to what extent subscribers will be eligible to avail loans and what will qualify as a low cost house, are yet to be worked out.

Aggarwal further said: “We don’t want to impose anything on the subscribers. Therefore, we will not buy land or build houses for them. They will be free to choose their own homes from the open market.”

The panel had suggested this scheme for low income formal workers who are EPFO subscribers and could not buy a house during their entire service period.

Under the proposed scheme, there will be a tripartite agreement between member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.

Last year, the proposal for facilitating the EPFO subscribers to buy low cost homes was listed on the agenda of the CBT meeting held on September 16.

A report of an expert committee on housing facility for the subscribers was also presented to the trustees during the meeting.

The committee has unanimously recommended a scheme to facilitate subscribers to buy houses where they will get an advance from their PF accumulation and will be allowed to pledge their future PF contribution as EMI (Equated Monthly Instalment) payment.

The panel had suggested that subscribers will purchase a dwelling unit with loans from bank or housing finance companies and hypothecation of property in favour of the latter.

It was suggested the benefits under the scheme of Ministry of Housing and Urban Poverty Alleviation can also be extended to the beneficiaries of the scheme.

In May, Labour Minister Bandaru Dattatreya had told Lok Sabha in a written reply: “Government is exploring the possibility for providing a suitable low-cost housing scheme for subscribers of Employees’ Pension Fund. It is in preliminary discussion stage.”

Source : ET

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EPFO may pay 9% interest on PF deposits for 2015-16

EPFO may pay 9% interest on PF deposits for 2015-16

Retirement fund body EPFO may provide 9 per cent interest on PF deposits for this fiscal, which is higher compared to 8.75 per cent provided in previous two fiscals to its over five crore subscribers.

The Employees Provident Fund Organisation’s (EPFO) finance panel has recommended raising the interest rate on statutory savings of over 5 crore subscribers from 8.75% to 8.95% during the current fiscal.

“The income projection of Rs 34,844.42 crore for the current fiscal is expected to be revised upward. Thus the body can provide 9 per cent rate of interest on PF deposits for 2015-16,” an EPFO trustee and Bharatiya Mazdoor Sangh Secretary P J Banasure told PTI.

The Employees Provident Fund Organisation’s (EPFO) Finance Audit and Investment committee (FAIC) recommended 8.95 per cent interest on PF deposits for the current fiscal in its meeting earlier this week.

Banasure, who is also a member of FAIC said:”If the EPFO provides 8.95 per cent interest rate on PF deposits for 2015-16, it will leave a surplus of Rs 91 crore as per income projections worked out in September last year. But the FAIC will meet again later this month to vet the latest income estimate which is likely to be revised upward.”

According to EPFO income projections worked out in September, providing 9 per cent interest on PF will result in a deficit of Rs 100 crore. “We are expecting that there will be a surplus of Rs 100 crore on providing 9 per cent rate of interest on PF deposits when EPFO will work out the latest estimates. FAIC can change its recommendation in the next meeting and suggest 9 per cent interest rate for 2015-16,” he said.

The proposal has to be endorsed by the Central Board of Trustees (CBT) before the Finance Ministry notifies it.

However, there has been indications from the Finance Ministry that it will slash interest rate on small savings like public provident fund in view of the rate cut by Reserve Bank of India.

The EPFO provides rate of interest from the earning on investments of formal sector workers’ funds without any assistance from the government.

Source: EOT

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PF Withdrawal Made Easier, 2 Crore Employees to Benefit: 10 Facts

PF Withdrawal Made Easier, 2 Crore Employees to Benefit: 10 Facts

Of late, the Employees’ Provident Fund Organisation (EPFO) has taken many steps to make provident fund (PF) accounts more user-friendly. Earlier this month, EPFO allowed its subscribers to file their PF withdrawal applications directly to the retirement fund body without employers’ attestation.

Here is a 10-Point Cheat-Sheet:

    1) This facility is applicable for subscribers, if details such as Aadhaar, PAN and bank account are linked to their Universal Account Number (UAN) and their know-your-customer (KYC) verification done by their employers.

    2) More than 2 crore subscribers whose KYC norms have been verified by the employers can avail this new withdrawal facility, EPFO said.

    3) However, the earlier norm of a waiting period of two months after leaving the previous job still applies for withdrawal purpose.

    4) The UAN facility was launched last year to facilitate PF transfers while subscribers change jobs. And all active subscribers have been allotted a number.

    5) The easier withdrawal facility will help subscribers who find it difficult to contact their previous employers, financial planners say.

    6) Under the earlier process, after leaving a job, employees were supposed to get their withdrawal forms attested through their employers for identification of their details.

    7) Withdrawal claims, however, have to be manually submitted by subscribers directly to the provident fund office.

    8) Subscribers filing their claims directly without employers’ attestation would have to use new forms that have been simplified for the new process.

    9) Subscribers who wish to take an advance from PF account can make partial withdrawal through the submission of Form-31. EPFO allows subscribers to take an advance in certain situations like house construction, repayment of housing loan and education of children and illness.

    10) Eventually, the EFPO plans to make the withdrawal process online to make it more subscriber-friendly. The retirement fund body plans to launch the online withdrawal facility this fiscal. (With Agency Inputs)

Source: profit.ndtv.com

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Public Sector Undertakings Comes Under EPFO Scanner

Public Sector Undertakings Comes Under EPFO Scanner

EPFO Concentrates on Workers in Construction Sector

Student-Trainees not Employees for Purpose of EPF & MP act, 1952.

While taking stock of the various developments in EPFO during the month of October, 2015, Shri K.K. Jalan, CPFC noted that several important decisions have been taken in the past one month.

Addressing the concerns voiced by the Standing Committee on Labour, a drive for ensuring compliance in respect of Public Sector Undertakings has been initiated. Special emphasis is laid on extension of the benefits of the Act and schemes to the eligible employees working in PSUs like Bombay Port Trust, Jawaharlal Nehru Port Trust, BSNL, MTNL, ONGC, NHAI, Indian railways and CPWD. Likewise, the extension of benefits to the workers engaged in the construction industry has also been the focus of the organization this month and a strategy has been firmed up to initiate formal interaction with CPSUs, SPSUs and other state govt. departments and trade unions with a view to bring all the eligible employees engaged in the industry under the ambit of the Act so that social security benefits are extended to all of them.

The month of October also saw a slight modification in the constitution of the Central Board of Trustees (EPF) as Shri Balasubrahmanyam Kamarsu has been nominated to the Board as an employers’ representative against the vacancy arising out the demise of Dr. Ram Tarneja. The Sub Committees on Contract Workers, Pension and EDLI Implementation Committee, Finance, Investment and Audit Committee of CBT, EPF were also reconstituted.

Vigilance Awareness Week (26 to 30th October 2015) was celebrated in all the offices of the organisation across the country. This year, going beyond undertaking activities within the office, an effort was made to sensitize young minds to vigilance and corruption related issues by organizing speech competitions, discussions at schools and colleges in many cities like Delhi, Coimbatore, Kolkata, Faridabad, etc.
With a view to popularize Jeevan Pramaan Patra (Online Life Certificate) instructions have been issued to the field offices of the organisation to equip reception counters of the field offices with biometric devices and PC with Jeevan Pramaan Patra software installed for the ease and convenience of EPS pensioners. EPF helpdesk in major pension disbursing bank branches are also being contemplated. It is also decided to organize mobile camps in selected areas for enabling EPS pensioners to upload their life certificates.

In a major step, the organization has clarified those student trainees who are paid stipend during on the job training while pursuing course in technical /professional educational institutions would not come under the definition of employee for the purpose of EPF &MP Act. This removes the ambiguity surrounding the eligibility of such student-trainees for enrolling as members of the Fund and is expected to bring about greater clarity among employers and also reduce litigations.

In a major step to assess the position of the accounting procedures in EPFO, it was decided to have a study conducted on the accounts issues of organization. It was also decided that Inoperative Accounts of less than Rs. 1,000 shall be transferred to the reserve account.

The organization has settled more than 70 lakh claims in the current fiscal and 42% of the same has been settled within 03 days while 80% has been settled within 10 days and 97% within the mandated 20 days. Likewise grievance redressal has also been progressing at a brisk pace and more than 18,000 grievances were settled in the month of October alone.

PIB

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EPS pensioners assured of minimum pension of Rs. 1000 per month

EPS pensioners assured of minimum pension of Rs. 1000 per month

Press Information Bureau,
Government of India
Ministry of Labour & Employment

12-May, 2015

EPS pensioners assured of minimum pension of Rs. 1000 per month

EPFO settles 11.77 lakh claims in April 2015: 77% of EPF claims settled within 10 days.

The Employees Provident Fund Organisation(EPFO) has settled 11.77 lakh claims were settled in the month of April itself. This fact emerged while reviewing the performance of EPFO in the first month of the new financial year 2015-16. According to Shri K.K. Jalan, CPFC showing an improvement in the time taken for settlement, 48% of the claims were settled within 03 days and 77% were settled within 10 days. More than 15 crore annual accounts were updated in the first two working days of the financial year which is a historical first and this was made possible by the adoption of new updated software by the organization.

A decision was also taken regarding continuation of minimum pension of Rs 1000 to the pensioners of EPS, 1995 on a perpetual basis. This move is expected to benefit more than 19 lakh pensioners who would otherwise draw less than Rs. 1000 as pension under EPS, 1995.

Grievance redressal continued to be given top most priority. More than 14,000 grievances were settled in the month of April leaving a balance of 3,354 grievances pending. Of these more than three-fourths were pending for less than 15 days. As grievance monitoring is being done at the highest level in the government under PRAGATI programme, comprehensive guidelines were also issued to further minimize the number of pending grievances.

A conference of the ten Zonal Addl. CPFCs also took place in last month. Several important decisions directly affecting the working of the organization were taken. Top priority is to be accorded to activation of UAN and also to activate e-life certificate, “Jeevan Praman Patra” for EPS pensioners.Use of e-governance tools has to be adopted in all functional areas including compliance management. This would help the organization in better monitoring and also foster a conducive compliance environment It was also decided to initiate efforts for making the members’ passbook on the portal, available in vernacular languages also, for the benefit and convenience of the PF subscribers.

***

PIB

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Proposal for Rs 1,000 minimum monthly pension approved: Government

Proposal for Rs 1,000 minimum monthly pension approved: Government

Government has approved minimum monthly pension of Rs 1,000 under Employees Pension Scheme 1995 (EPS-95) run by the retirement body Employees’ Provident Fund Organisation (EPFO), Parliament was informed today.

The decision of the government would immediately benefit 28 lakh pensioners including 5 lakh widows getting less than Rs 1000 as pension every month. In all, there are 44 lakh pensioners under the EPS-95 scheme.

“Yes, Government has approved mi”Yes, Government has approved minimum pension of Rs 1000 per month to the pensioners under the EPS-95,” Minister of state for Steel, Mines, Labour and Employment Vishnu Deo Sai said in a written reply to Lok Sabha.

According to the Minister, several representations have been received for enhancement of pension under EPS-95 and based on those, “government has approved minimum pension of Rs 1,000 to pensioners under the EPS-95.”

Earlier, Labour Minister Narendra Singh Tomar had discussed the proposal with trade unions on June 24 and assured the government will take a decision within two weeks.

As per the proposal, pensioners were to get the benefit with effect from April 1 this year. The government would have to provide an additional amount of around Rs 1,217 crore to ensure a minimum pension of Rs 1,000 for 2014-15.

A senior official said the new government did not want to provide this entitlement merely for one financial year and wanted this to be implemented for all times to come. That is why the proposal was reviewed.
The proposal was already approved by the UPA government for the current financial year but could not be implemented as it was not notified.

However a senior EPFO official, when contacted, said that the body has not yet received any notification or official order in this regard from the Labour Ministry.

According to him, the government could formally announce this entitlement in the forthcoming budget on Thursday.

Besides, the EPFO is also awaiting government’s approval for enhancing the wage ceiling for organised sector workers under EPFO ambit to Rs 15,000 per month from the existing Rs 6,500. This was also approved by the previous government but could not be notified due to coming into force of the model code of conduct during that time.

The decision to increase basic wage ceiling to Rs 15,000 per month is expected to bring in 50 lakh more workers under the EPFO’s ambit.

The notification regarding the decision of the EPFO trustees to reduce administrative charges paid by employers to EPFO is also awaited. It was proposed to reduce administrative charges paid by employers to EPFO is also awaited. It was proposed to reduce administrative charges from 1.10 per cent of basic wage to 0.85 per cent.

Source : http://economictimes.indiatimes.com

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