5 days of Grace period – Remit your PF dues for December by 20th January

EPFO has extended an olive branch to employers and members struggling to use EPF services since 17th of December 2017. Taking a stock of the disgruntled stakeholders, EPFO has relaxed the timeline for payment of EPF contributions and other dues for December month by 20th of January. As an enabling provision the following circular has …

Re-inventing EPFO through ECR 2.0

 ECR 2.0 - The Gamechanger ECR consisted of 25 fields and was designed to integrate monthly returns in Form 5/10/12A and the annual returns in Form 3A . The widespread usage of UAN endorsed with KYC (Aadhar & Bank Account details) prompted usage of UAN as identifier and reduce redundant information filed every month. ECR …

Employees’ Enrolment Campaign 2017 – A Voluntary Disclosure Scheme from EPFO

Government providing yet another opportunity to rectify mistakes by calling for voluntary disclosures between 1st January 2017 to 31st March 2017. If you as employer have failed to enrol an eligible member under EPFO due to some reason, here is a golden opportunity to set right. Salient features of the Campaign: Employees required and eligible …

e Jeevan Pramaan – Digital Life Certificate in EPFO

The “e-Jeevan Pramaan” – an Aadhaar-based Digital Life Certification system with an objective to facilitate on-line submission of Life Certificate by pensioners.It is a conclusive exercise of certifying the 'alive' status of a pensioner at the time of authentication. This facility is in addition to the other existing methods of submitting Life Certificates. EPFO has …

Early Pension and Delayed Pension in EPFO

Heard of Early Pension under Employees' Pension Scheme of EPFO ? It allows for a provision of pension for members who have completed 10 years of contributory service under Companies/establishments covered by EPFO and being unemployed, wish to start drawing pension from the age of 50 years. It also allows for 4% reduction in eligible …

Pradhan Mantri Rojgar Protsahan Yojana(PMRPY) & Pradhan Mantri Paridhan Rojgar Protsahan Yojana (PMPRPY) – It pays to hire freshers

First a small note : The employer is also required to pay a matching contribution of 12% of your wages. This is credited to your account in the following manner : Employees' Pension Scheme(EPS) Account -  8.33 % Employees' Provident Fund(EPF) Account - 3.67% ( By the way, your contribution of 12% is fully credited into …

Filing monthly ECR (Electronic Challan cum Return) online

Filing monthly ECR is one of the duties of the employer who is registered with EPFO. What is ECR ? EPFO launched online receipt of Electronic Challan cum Return (ECR) from the Month of April 2012 (March paid in April). Employers are required to Register their establishments and create their user id and password through …

Retirement benefits on the date of retirement – Will it be a reality in EPFO ?

Well...Well Frankly, Don't know...ummm....Can't say ! What I can say is that EPFO has announced with noble intentions and struck a chord with all its members throughout India. This is the circular issued by EPFO http://www.epfindia.com/site_docs/PDFs/Circulars/Y2016-2017/CSD_RetirementBenefits_1289.pdf What does it say ? It says that EPFO has decided to settle the Provident Fund and Pension benefits …

EPF Vs EPS Vs EDLI – Compared

Will keep this post as work in progress. Can you suggest some more? SL No Employees’ Provident Fund Scheme Employees’ Pension Scheme Employees’ Deposit Linked Insurance Scheme 1  The contributions are payable on maximum wage ceiling of Rs 15000/- by employee and employer. The  Contribution is payable out of the employer’s share of PF and …

EPFO Rate of contribution 10% – Special Cases

Following Special cases the EPF rate of contribution is 10% : Any establishment in which less than 20 members are employed. A sick industrial company defined under Section 3(1)(o) of Sick Industrial Companies Act 1985, declared by Board for Industrial and Financial Reconstruction. The rate of contribution as 10% is payable from date of registration of …