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The Labour Ministry is modernizing its IT infrastructure to streamline services for India’s vast workforce. Starting in 2025, Employees' Provident Fund Organisation (EPFO) subscribers will gain direct access to their provident funds through ATMs.

EPFO withdrawals via ATMs starting January 2025

This modernization push underscores the ministry&rsquo;s commitment to leveraging technology and inclusive policies to support India&rsquo;s evolving workforce.

The Labour Ministry is modernizing its IT infrastructure to streamline services for India&rsquo;s vast workforce. Starting in 2025, Employees' Provident Fund Organisation (EPFO) subscribers will gain direct access to their provident funds through ATMs, reducing reliance on manual processes, according to Union Labour Secretary Sumita Dawra.
Highlighting ongoing enhancements, Ms. Dawra emphasized faster claims processing and user-friendly service delivery to improve ease of living. She projected significant IT system advancements by January 2025. The EPFO currently boasts over 70 million active contributors.
The government is also advancing plans to extend social security benefits to gig and platform workers. A comprehensive scheme under finalization may include health coverage, provident funds, and financial aid for disabilities. A committee of stakeholders is developing a framework to operationalize these benefits, as outlined in the Code on Social Security, 2020, which formally recognized gig workers and their welfare needs.
Addressing employment trends, the Labour Secretary noted a sharp drop in unemployment rates from 6% in 2017 to 3.2% today. She also highlighted growth in workforce participation, with the Labour Force Participation Rate and Worker Participation Ratio climbing steadily to 58%, reflecting increased employment levels.
This modernization push underscores the ministry&rsquo;s commitment to leveraging technology and inclusive policies to support India&rsquo;s evolving workforce.

Following UIDAI's directive of using Aadhaar as an identity verification and not as proof of birth, the Employees Provident Fund Organisation has removed Aadhaar as valid date of proof document

EPFO removes Aadhaar as a valid date of birth proof; these are the documents you can use instead

<h2>Following UIDAI's directive of using Aadhaar as an identity verification and not as proof of birth, the Employees Provident Fund Organisation has removed Aadhaar as valid date of proof document</h2>

The Employees Provident Fund Organisation has removed Aadhaar as a valid document for date of birth proof. This comes after Unique Identification Authority of India observed that Aadhaar, while a unique identifier, was not recognized as proof of date of birth according to the Aadhaar Act, 2016. It further emphasised that Aadhar provided identity verification, not proof of birth.
<h3>Changes in EPFO System</h3>
The removal of Aadhaar as proof of date of birth by EPFO aligned with the UIDAI&rsquo;s directive and the legal stance on Aadhaar&rsquo;s limitations. The decision was also made with the approval of the Central Provident Fund Commissioner&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/personal-finance/alert-for-epfo-subscribers-covid-19-withdrawal-facility-possibly-ending-soon-reports-suggest-1703682909963">Alert for EPFO Subscribers: Covid-19 withdrawal facility possibly ending soon, reports suggest</a>
EPFO in a circular highlighted that Aadhaar&rsquo;s removal pertained to Table-B of Annexure-1 of the Joint Declaration SOP issued earlier. Once the circular was issued, the Internal System Division (ISD) was directed to make necessary modifications in the application software to align with the updated guidelines.
<h3>Valid 'date of proof' documents&nbsp;</h3>
EPFO members who want to correct their Date of Birth can use
<ul>
<li>Birth certificate</li>
<li>School leaving certificate/ School Transfer certificate/ SSC certificate containing Name and Date of Birth</li>
<li>Pan card</li>
<li>Certificate based on the service</li>
<li>Central/state pension payment order,</li>
<li>Government's domicile certificate</li>
<li>Medical certificate issued by civil surgeon after examining the member medically and supported with an affidavit on oath by the member duly authenticated by a Competent Court</li>
</ul>

During the 2020 pandemic, EPFO permitted its members to avail two advances from their Employees' Provident Fund (EPF) accounts.

Alert for EPFO Subscribers: Covid-19 withdrawal facility possibly ending soon, reports suggest

<h2>During the 2020 pandemic, EPFO permitted its members to avail two advances from their Employees' Provident Fund (EPF) accounts.</h2>

The Economic Times reported that the Employees' Provident Fund Organisation (EPFO) has ceased the Covid-19 withdrawal facility. Though no official notification has been released yet, this move indicates the end of a provision introduced during the pandemic.
Pandemic-Induced Measures During the 2020 pandemic, EPFO permitted its members to avail two advances from their Employees' Provident Fund (EPF) accounts. This special withdrawal initiative was part of the Pradhan Mantri Garib Kalyan Yojana (PMGKY) to aid members facing financial hardships.
Withdrawal Provisions As per the Ministry of Labour &amp; Employment's amendment to the Employees&rsquo; Provident Funds Scheme in 1952, eligible members could access non-refundable withdrawal. They could withdraw an amount equivalent to three months' basic wages and dearness allowances or up to 75% of their EPF account's credit, whichever was lower. 
EPFO's Member Growth in Oct In October, EPFO recorded a notable increase in member additions, with 15.29 lakh new members joining, marking an 18.22% rise from the same period last year. The data, released on December 20, indicated a substantial rise in social security coverage, encompassing around 7.72 lakh new members in October 2023, a 6.07% increase year-on-year, according to the labour ministry statement.

As per the report, for the month of June the company made the PF contributions for 738 employees. This compares to PF contributions made for 25,000 employees in May. 


Despite push from EPFO, Byju's fails to pay PF for most employees for June: Report

In June the company made the PF contributions for 738 employees. This compares to PF contributions made for 25,000 employees in May. 


Despite a push from the EPFO, irregularities in the PF contributions for employees continued at Byju's. In June the company made the PF contributions for 738 employees, as compared to PF contributions made for 25,000 employees in May.&nbsp;

Edtech startup Byju's has failed to pay provident fund for most of the employees in June, despite a directive from Employee Provident Fund Organisation (EPFO), as per a report by Moneycontrol. Last month, EPFO directed Byju's to ensure that PF contributions were regularised.&nbsp; As per the report, for the month of June the company made the PF contributions for 738 employees. This compares to PF contributions made for 25,000 employees in May.&nbsp; Also Read: <a href="https://www.editorji.com/business-news/edtech-byju-s-fails-to-pay-employees-provident-fund-for-months-1687780794332">Edtech Byju's fails to pay employees' provident fund for months</a>
Earlier, Byju's had not made the PF contributions for the months of April and May, while only 10,000 to 13,000 employees had received the payment for the months January, February and March. However, after EPFO's intervention, the edtech paid 24,818 employees on June 26.
The company in a mail to the EPFO had mentioned that it has cleared all the PF due until May and that the PF payment for June will be made by July 15.&nbsp;
The delay in PF payment comes as the company is taking various cost cutting measures to manage its financial distress. The company has also vacated its biggest office space in the country. This comes as the negotiation for funding has been delayed.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/byju-s-crisis-vacates-one-of-the-biggest-offices-in-bengaluru-to-save-costs-1690193858140">Byju&rsquo;s crisis: Vacates one of the biggest offices in Bengaluru to save costs</a>
Byju's has been under turmoil facing numerous legal and financial crisis. The company has come under the scanner of the EPFO and the ED. The company is also reportedly facing a probe from India&rsquo;s Ministry of Corporate Affairs.&nbsp;

After EPFO probed Byju's over the delayed payment of PF amount, dues worth Rs 123.1 crore for the period between August 2022 and May 2023 is deposited

After EPFO probe into delayed PF payments, Edtech Byju's clears 97% dues: Report

After EPFO probed Byju's over the delayed payment of PF amount, dues worth Rs 123.1 crore for the period between August 2022 and May 2023 is deposited

Edtech startup Byju's has cleared nearly 97% of the dues of the provident fund it carried after EPFO investigated the company over delayed payment, reported Moneycontrol.&nbsp;
As per the report, Byju&rsquo;s, in a mail sent to the EPFO on June 27, said that the company has deposited PF dues for the period between August 2022 and May 2023 worth Rs 123.1 crore. The balance amount of Rs 3.43 crore would be deposited within the next two days.
&ldquo;This is to confirm Byju&rsquo;s has no pending PF dues. &nbsp;The complete amount visible on the PF portal has been paid. Please note that if there is any amount that's not reflecting on the portal, the same is because of technical or authentication issues. This should not be construed as the company's pending dues,&rdquo; said Zulfiquar Memon, &nbsp;MZM Legal, &nbsp;legal representative of Byju&rsquo;s told Moneycontrol.&nbsp;
This comes days after reports of the company delaying PF payment for most of its employees in FY24 emerged. The EPFO's data also suggested that the Byju's parent company Think &amp; Learn Pvt Ltd has not paid the PF money for most of its employees in FY24. While for April, the PF contribution for 3,164 employees was paid after a delay of 36 days, only 31 employees&rsquo; accounts received the payment for May. Byju's has assured that the PF contribution for June will be paid by 15th July.&nbsp;
The delay in payment came into light a week after three of Byju's board members including those representing Peak XV Partners, Prosus, and Chan Zuckerberg resigned following which its auditor Deloitte also resigned.&nbsp;

EPFO has extended the deadline to file for higher pension for employees till July 11. Meanwhile employers are given time till 30 September 2023 to file the details

EPFO extends deadline to apply for higher pension till July 11

EPFO has extended the deadline to file for higher pension for employees till July 11. Meanwhile employers are given time till 30 September 2023 to file the details

Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11.
This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, 2023. &nbsp;The last opportunity of 15 days is being given to remove any difficulty faced by the eligible pensioners/ members, the Employees' Provident Fund Organisation said in a statement.
"Accordingly, the last date for submission of Applications for Validation of Option/ Joint Options by employees is extended to July 11, 2023," it added.
"Online facility has been made available by EPFO for submitting Applications for Validation of Options/Joint Options for pension on higher wages. The facility is for eligible pensioners/members in compliance with the Hon&rsquo;ble Supreme Court order dated November 04, 2022," the statement said.
"Timeline for applying for higher pension has been extended by 3 months for the employer and 15 days for the employee (member)," Raghunathan KE, Member representing Employers, Central Board of Trustees, EPFO, told PTI.
A lot of verification needs to be done as these are involving financial transactions, he added.
"We are happy and complement EPFO for three months time for employers and also 15 days for employees. EPFO once again proves to be considerate and compassionate to field issues," he said. Any eligible pensioner/member who on account of any issue in the updation of KYC, faces difficulty in submitting an online application for validation of option / joint option, may immediately lodge such grievance on EPFiGMS for resolution, as per the statement.
"The grievance may please be submitted by selecting the grievance category of 'Higher Pensionary benefits on higher wages'. This will ensure proper record of such a grievance for further action," it added.

The percentage of female members of all new enrollments last month stood at 26%, the highest in the previous six months among new members

EPFO adds 17.20 lakh net members in April

The percentage of female members of all new enrollments last month stood at 26%, the highest in the previous six months among new members

Retirement fund body EPFO added 17.20 lakh members on a net basis in April this year, according to payroll data released on Tuesday.
"Out of 17.20 lakh members added during the month, around 8.47 lakh new members have come under social security coverage of the Employees' Provident Fund Organisation (EPFO) for the first time," a labour ministry statement said.
Among the newly joined members, 54% of new members are in the age group of 18-25 years, indicating the majority of the members joining organised sector workforce are mostly first-time job seekers.
The EPFO&rsquo;s provisional payroll data indicated a significant increase in several key parameters.
It revealed that EPFO has added 17.20 lakh net members in the month of April 2023 as compared to the net addition of 13.40 lakh during the previous month of March 2023.
Year-on-year, an increasing trend has been observed in net payroll addition for the month of April 2023.
The data also shows increasing number of re-joinees as 12.50 lakh members exited but rejoined EPFO in comparison to 10.09 lakh in the previous month of March 2023, the ministry said.
These are the members who would have switched their jobs and re-joined the establishments covered under EPFO and opted to transfer their accumulations instead of applying for final settlement thus, extending their social security protection.
As compared to the previous month, the number of exits has decreased by 11.67% with 3.77 lakh exits in the month of April 2023.
Year-on-year comparison also shows that exits have registered a decline for the month of April 2023.
Gender-wise analysis of payroll data reflects that enrolment of net female members has been 3.48 lakh in April 2023 as compared to 2.57 lakh during March 2023.
Of the total 8.47 lakh new members added during the month, around 2.25 lakh are new female members, joining EPFO for the first time.
Female members have constituted about 26% of all new enrollments during the month indicating the highest female participation in the last six months among the new members.
In monthly payroll data, the count of members joining EPFO for the first time through Aadhaar validated Universal Account Number (UAN), existing members exiting from coverage of EPFO and those who exited but re-joining as members, is taken to arrive at net monthly payroll.
The EPFO is country&rsquo;s principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the statute of EPF &amp; MP Act, 1952

After considering requests from various members &amp; representatives, EPFO has extended its deadline to apply for higher pension till 26th June

Deadline to apply for higher pension from EPS extended till June 26, 2023

After considering requests from various members & representatives, EPFO has extended its deadline to apply for higher pension till 26th June

After considering requests from various members &amp; representatives, EPFO has extended its deadline to apply for higher pension till 26th June

India's retirement fund body EPFO has extended the deadline to apply for higher pension in the employee pension scheme till 26 June. The earlier deadline to apply was 3rd May 2023.
The Ministry of Labour &amp; Employment has mentioned that several members and representatives wanted extension of time. "More than 12 lakh applications have been received till date. The online facility was to remain available only till 03.05.2023. In the meantime, many representations have been received from various quarters seeking extension of time. The issue has been considered and it has been decided that in order to provide a larger window of opportunity and in order to enable all eligible persons to file their applications, the timeline for filing applications would now be till 26th June, 2023," said the ministry in a statement.
The statement also added that the extension in the timeline is to facilitate and provide ample opportunities to the pensioners / members so as to ease out any difficulty being faced by them.&nbsp;
As per Mint, EPFO has made arrangements for obtaining applications for the validation of option / joint option from pensioners / members as per the Hon&rsquo;ble Supreme Court order dated 4 November 2022. To facilitate this process, online facility has been made available.&nbsp;

EPFO has recorded a net addition of 13.96 lakh new subscribers in February 2023. Out of these 13.96 lakh subscribers, 7.38 lakh have joined EPFO for the first time

EPFO adds 13.96 lakh net new members in Feb

EPFO has recorded a net addition of 13.96 lakh new subscribers in February 2023. Out of these 13.96 lakh subscribers, 7.38 lakh have joined EPFO for the first time

Retirement fund body EPFO has recorded a net addition of 13.96 lakh new subscribers in February 2023.
The provisional payroll data of the Employees' Provident Fund Organisation released on Thursday highlighted that EPFO has added 13.96 lakh net members in February 2023.
Out of 13.96 lakh members added during the month, around 7.38 lakh new members have come under the ambit of EPFO for the first time, a labour ministry statement said.
Among the newly joined members, it stated, the highest enrolment is registered in the age group of 18-21 years with 2.17 lakh members, followed by the age group of 22-25 years with 1.91 lakh members.
The age group of 18-25 years constitutes 55.37 per cent of the total new members during the month. This indicates that the majority of the members joining the organised sector workforce of the country are first-time job seekers.
The data also highlights that approximately 10.15 lakh members re-joined EPFO membership, which rose by 8.59 per cent compared to the last year.
These members switched their jobs and re-joined the establishments covered under EPFO and opted to transfer their accumulations instead of applying for final settlement thus, extending their social security protection.
Gender-wise analysis of payroll data reflects that enrolment of net female members has been 2.78 lakh in February 2023, which is around 19.93 per cent of the net member addition for the month.
Of these, 1.89 lakh female members are the new joinees. This is around 25.65 per cent addition of all the new joinees. In terms of female participation, the net female member addition and new female member addition have registered the highest proportion in the last four months. This indicates a growing trend of women's participation in the organised workforce, it stated.
State-wise payroll figures highlight that the month-on-month growing trend in net member addition is reflected in Tamil Nadu, Andhra Pradesh, Jharkhand, West Bengal etc.
In terms of net member addition, the top 5 states are Maharashtra, Tamil Nadu, Karnataka, Gujarat and Delhi.
These states together constitute 58.62 per cent of net member addition during the month. Of all the states, Maharashtra is leading the chart by adding 20.90 per cent of net members, followed by Tamil Nadu with 11.92 per cent.

EPFO has introduced a new procedure by which employers and subscribers to jointly apply for higher pensions under the Employees’ Pension Scheme (EPS). This will enable employees to accumulate a larger corpus towards their pension. 

EPFO subscribers can opt for higher pension 

EPFO has introduced a new procedure by which employers and subscribers to jointly apply for higher pensions under the Employees&rsquo; Pension Scheme (EPS). This will enable employees to accumulate a larger corpus towards their pension.&nbsp;

The employee provident fund organisation (EPFO) has come out with a new procedure that allows opting for a higher pension. Employers and subscribers can jointly apply for higher pensions under the employees pension scheme. This mans, the employer-employee can jointly request the EPFO to deduct 8.33% of the actual monthly basic salary towards the pension scheme. This will ensure a larger pension corpus.&nbsp;
Who can avail this?&nbsp; 1) Employees who were members before September 1, 2014, and continued to be a member on or after that date&nbsp; 2) Employees and employers who had contributed on salary exceeding the wage ceiling of Rs 5,000 or Rs 6,500&nbsp; 3) Employees and employers who did not exercise the joint option in the previous window while being EPS members&nbsp;
The EPFO&rsquo;s new guidelines have been issued in compliance with Supreme Court's November 4, 2022 order. The deadline to apply for higher pension under EPS was March 3, 2023, as mandated by the Supreme Court judgement.&nbsp;

The EPFO branch in Mumbai has reportedly uncovered a massive fraud that could have losses running into a Rs 1000 cr as per reports. ET reports that staff at a Mumbai suburban office of EPFO allegedly created bogus accounts and transfer funds or settle claims in defunct companies such as Jet Airways. An internal inquiry is underway to ascertain what the actual loss to provident fund body is. 
Unnammed sources told ET that PF accounts of many pilots or crew members of Jet Airways were allegedly misused to siphon off funds, which reportedly benefited some EPFO officials working at Kandivali office.This is not the first case of fraud at this EPFO branch. EPFO’s Kandivali office was also mired in another fraud case in February when the Central Bureau of Investigation (CBI) filed an FIR against eight EPFO employees who reportedly siphoned off Rs 21.5 crore via 817 migrant workers’ bank accounts.
 

EPFO Fraud Revealed: losses estimated at up to Rs 1,000 cr: reports

EPFO Fraud Revealed: losses estimated at up to Rs 1,000 cr

EPFO fraud unearthed 

The modus operandi is said to be creating bogus accounts and transfer funds

The EPFO branch in Mumbai has reportedly uncovered a massive fraud that could have losses running into a Rs 1000 cr as per reports.&nbsp; ET reports that staff at a Mumbai suburban office of EPFO allegedly created bogus accounts and transfer funds or settle claims in defunct companies such as <a href="https://www.editorji.com/business-news/jet-airways-ready-for-take-off-in-just-a-month-1658907379141">Jet Airways</a>. An internal inquiry is underway to ascertain what the actual loss to provident fund body is.&nbsp;
Unnamed sources told ET that <a href="https://www.editorji.com/business-news/personal-finance/new-wage-code-your-salary-pf-and-work-timings-can-change-from-today-1656650444342">PF</a> accounts of many pilots or crew members of Jet Airways were allegedly misused to siphon off funds, which reportedly benefited some EPFO officials working at Kandivali office. This is not the first case of fraud at this EPFO branch. EPFO&rsquo;s Kandivali office was also mired in another fraud case in February when the Central Bureau of Investigation (CBI) filed an FIR against eight EPFO employees who reportedly siphoned off Rs 21.5 crore via 817 migrant workers&rsquo; bank accounts.
Read More:- <a href="https://www.editorji.com/business-news/financial-fraud-on-the-rise-zerodha-sends-warning-1659598243087">Financial fraud on the rise, Zerodha sends warning</a>

From crypto tax liability to your provident fund becoming taxable, April 1 brings in sweeping changes into your tax planning. Here is the latest update you need to take a note of:Provident Fund becomes taxable&nbsp;The government has decided to tax the interest income from the Provident Fund account from April 1. If the contribution is below&nbsp;₹2.5 lakh, no tax will be levied. However if the contribution exceeds&nbsp;₹2.5 lakh - then the interest income will be taxed.Crypto&nbsp;tax kicks off&nbsp;Income from transactions in virtual digital assets will attract a tax of 30 percent From April 1. As clarified by the Finance Ministry no loss can be offset against the gain so each profitable transaction will attract the 30 per cent tax liability.&nbsp;Apart from this, there will be a 1 per cent TDS and gift tax under certain conditions to be paid by the receiver of such digital asset as a gift.
Filing of updated ITRTaxpayers will be able to file an updated return from April 1 to eliminate errors or mistakes done in income tax returns. The updated return can be filed within two years from the end of the relevant assessment year.
Tax relief for persons with disabilityWhen the parent or guardian of a differently-abled person can take an insurance scheme for the latter, they would be eligible to deduction from gross income before tax subject to certain conditions.

 Big tax changes from April 1: Crypto, EPF, ITR all the latest updates

From crypto tax liability to your provident fund becoming taxable, April 1 brings in sweeping changes into your tax planning. Here is the latest update you need to take a note of:

Big tax changes from April 1

Income tax on crypto assets, filing of updated returns, new tax rules on EPF interest all kick in from April 1&nbsp;

From crypto tax liability to your provident fund becoming taxable, April 1 brings in sweeping changes into your tax planning. Here is the latest update you need to take a note of: Provident Fund becomes taxable&nbsp; The government has decided to tax the interest income from the Provident Fund account from April 1. If the contribution is below&nbsp;₹2.5 lakh, no tax will be levied. However if the contribution exceeds&nbsp;₹2.5 lakh - then the interest income will be taxed. Crypto&nbsp;tax kicks off&nbsp; Income from transactions in virtual digital assets will attract a tax of 30 percent From April 1. As clarified by the Finance Ministry no loss can be offset against the gain so each profitable transaction will attract the 30 per cent tax liability.&nbsp; Apart from this, there will be a 1 per cent TDS and gift tax under certain conditions to be paid by the receiver of such digital asset as a gift.
Filing of updated ITR Taxpayers will be able to file an updated return from April 1 to eliminate errors or mistakes done in income tax returns. The updated return can be filed within two years from the end of the relevant assessment year.
Tax relief for persons with disability When the parent or guardian of a differently-abled person can take an insurance scheme for the latter, they would be eligible to deduction from gross income before tax subject to certain conditions.

You do not want to go from party to penalty this new year so ensure you complete these tasks before this year closes out.

From ITR to Demat account's KYC: Here’s a to-do list of financial tasks before Dec 31st

The calendar year 2021 is coming to an end, and with that brings among other things money-related tasks one should complete before December 31, 2021. Here are four personal finance deadlines to keep in mind and complete before December 31.

Here’s a to-do list of four financial tasks before Dec 31st

The government is unlikely to extend the December 31 deadline to file ITR returns.

You do not want to go from party to penalty this new year so ensure you complete these tasks before this year closes out.
<h3>1. File your income tax return&nbsp;for FY2020-21</h3>
The deadline to file <a href="https://www.editorji.com/business-news/personal-finance/itr-filing-5-mistakes-that-you-should-avoid-while-filing-income-tax-returns-1638166783878" target="_blank">income tax return (ITR)</a> for the previous financial year (2020-21) has been extended multiple times due to the pandemic and the government is unlikely to extend the December 31 deadline to file returns.
So, it is advisable not to wait for the last minute and complete the task much before.
<h3>2. Submit Life Certificate Till Dec 31</h3>
The deadline for retired government employees and family pension receivers&nbsp;to submit their annual <a href="https://www.editorji.com/business-news/government-pension-how-to-submit-life-certificate-online-1633430491178" target="_blank">life certificates or&nbsp;Jeevan Pramaan Patra</a>, has been extended until December 31, 2021.&nbsp;It is essential for pensioners to submit their life certificate on time to ensure that they continue to receive pension.
<h3>3. Get demat, trading accounts KYC compliant before Dec 31</h3>
The <a href="https://www.editorji.com/business-news/markets/sebi-lens-on-paytm-after-debut-debacle-that-wiped-out-rs-38-000-cr-1637380900966" target="_blank">Securities and Exchange Board of India (Sebi)</a> has extended the deadline for making demat and trading accounts KYC-compliant till December 31, 2021.
As per the notice, issued by Sebi in April 2021, the depositories need to ensure that six important <a href="https://www.editorji.com/story/kyc-fraud-alert-rbi-cautions-the-public-not-be-duped-by-this-ongoing-fraud-1631596083336" target="_blank">KYC </a>attributes including your - Name - Address - PAN - Valid mobile number - Valid email ID - Income range are updated in the existing demat, trading accounts.
Your demat and trading account may become inactive if you fail to update the above KYC attributes.
<h3>4. Linking Aadhaar with UAN</h3>
The Union Ministry of Labour has extended the deadline to link Aadhaar with UAN till December 31. This deadline is specifically meant for north-eastern states. Linking EPF account with Aadhaar can also help speeding up the claim settlement process for the employees.
 Also Watch:<a href="https://www.editorji.com/india-news/govt-has-cleared-major-electoral-reforms-here-s-is-all-you-need-to-know-1639624338039" target="_blank">&nbsp;Govt has cleared major electoral reforms. Here's all you need to know</a> &nbsp; According to the portal of <a href="https://www.editorji.com/business-news/personal-finance/pf-bonanza-epfo-credits-interest-in-pf-accounts-here-is-how-to-check-your-balance-1638849135411" target="_blank">EPFO</a>, if you want to file an online claim for your EPF, then you have to link your UAN with Aadhaar.

Is your insurance's premium becoming a burden on your monthly budget? EPFO or Employees' Provident Fund Organisation in its latest rule, allows subscribers to pay LIC premium through their EPF Account
According to the report, the facility is available while purchasing the LIC policy or afterward when paying the premium. 
How to use EPF money to pay LIC insurance premium
The rule is expected to be a boon for the people who are under financial stress due to the Covid-19 pandemic, can instruct EPFO to pay the LIC premium at the time of purchase or at any time after the initial premium payment by filling Form 14 
A member cannot exercise any other insurance premium payment through EPFO.
Who is eligible to avail this advanceForm 14 must be submitted to EPFO in order to make LIC premium payments from EPF accounts, and the subscriber's EPF balance must be at least equal to two years' worth of LIC premium amount

PF new rule: Now you can pay your LIC premium through EPF account 

Is your insurance's premium becoming a burden on your monthly budget? EPFO in its latest rule, allows subscribers to pay LIC premium through their EPF Account


Now you can pay your LIC premium through EPF account 

Facility is available while purchasing the LIC policy or afterward when paying the premium

Is your insurance's premium&nbsp;becoming a burden on your monthly budget? EPFO&nbsp;or Employees' Provident Fund Organisation in its latest rule, allows subscribers&nbsp;to&nbsp;pay LIC&nbsp;premium through their&nbsp;EPF Account
The facility is available while purchasing the LIC policy or afterward when paying the premium.&nbsp;
Also watch |&nbsp;<a title="PF Bonanza! EPFO credits interest in PF accounts, here is how to check your balance" href="https://www.editorji.com/business-news/personal-finance/pf-bonanza-epfo-credits-interest-in-pf-accounts-here-is-how-to-check-your-balance-1638849135411">PF Bonanza! EPFO credits interest in PF accounts, here is how to check your balance</a>
How to&nbsp;use EPF money to pay LIC insurance premium
The rule is expected to be a boon for the people who are under financial stress due to the Covid-19 pandemic,&nbsp;can instruct EPFO to pay the LIC premium at the time of purchase or at any time after the initial premium payment by filling Form 14&nbsp;
A member cannot exercise any other insurance premium payment through EPFO.
Who is eligible to avail this advance Form 14 must be submitted to EPFO in order to make LIC premium payments from EPF accounts, and the subscriber's EPF balance must be at least equal to two years' worth of LIC premium amount

Employees’ Provident Fund Organisation (EPFO) has credited 22.55 crore account holders with interest at the rate of 8.50% for the financial year gone by...

EPFO credits interest in PF accounts, here is how to check your EPFO balance

Employees’ Provident Fund Organisation (EPFO) has credited 22.55 crore account holders with interest at the rate of 8.50% for the financial year gone by.


PF Bonanza - Interested in interest? Check your balance

To check the balance, EPFO members need to send an SMS to 7738299899 by typing EPFOHO UAN ENG.

Employees&rsquo; Provident Fund Organisation (EPFO) has credited 22.55 crore account holders with interest at the rate&nbsp;of 8.50% for the financial year gone by. Earlier this year, the EPFO decided to keep the rate of interest unchanged&nbsp;on provident fund deposits at 8.5 per cent for the financial year 2020-21.&nbsp;Before&nbsp;that, representatives of the labour ministry had asked the finance ministry to fast track the decision of fixing the interest rates.
Also watch |&nbsp;<a title="Indian-American CEO fires 900 of his employees over Zoom call" href="https://www.editorji.com/business-news/watch-indian-american-ceo-fires-900-of-his-employees-over-zoom-call-1638791529247">Indian-American CEO fires 900 of his employees over Zoom call</a>
<h3>Here is how you can check your PF balance online</h3>
<ul>
<li>To check the balance, EPFO members need to send an SMS to 7738299899 by typing EPFOHO UAN ENG</li>
<li>Registered users can send a missed call to 011-22901406 after which they will get an SMS with details of the PF account balance.</li>
<li>Registered users can also check PF balance via EPFO website</li>
<li>You can also access your PF passbook on the UMANG app after logging in with your UAN and OTP.</li>
</ul>

In a sweeping change for millions of PF account holders, the EPFO has approved a new system where employees will not need to transfer their PF account if they change jobs. The EPFO Board of Trustees adopted a centralised IT system of PF account on Saturday (November 20) at its 229th meeting, allowing employees to avoid having their PF funds moved when they change jobs. Simply put, the centralised system is expected to merge various PF accounts of individuals and convert it into one.The field functionalities will move on a central database in a phased manner enabling smoother operations and enhanced service delivery. The system will facilitate the de-duplication and merger of all PF accounts of any member.After the development of the systems by the Centre for Development of Advanced Computing or C-DAC, an employee’s PF account number will remain the same if they change their jobs and they won’t have to worry about the account transfer.


Now you don’t have to transfer your PF; here’s what EPFO Board decision said

Moving jobs, now you don't have to move your PF. Find out about the latest change from the EPFO

Big Change in your PF account 

<ul>
<li>New EPFO&nbsp;decision, no need to transfer PF accounts with job</li>
<li>EPFO Board of Trustees approves&nbsp;adoption&nbsp;a centralised IT system of PF account</li>
<li>Centralised system is expected to merge various PF accounts of individuals</li>
<li>New PF&nbsp;system will facilitate the de-duplication and merger of all PF accounts of any member</li>
</ul>

The decision was taken at the 229th meeting of the EPFO's top decision-making body, the Central Board of Trustees (CBT), headed by Union labour minister Bhupender Yadav

In a sweeping change for millions of PF account holders, the EPFO&nbsp;has approved a new system where employees will not need to transfer their PF account if they change jobs.&nbsp; The EPFO Board of Trustees adopted a centralised IT system of PF account on Saturday (November 20) at its 229th meeting, allowing employees to avoid having their PF funds moved when they change jobs. Simply put, the centralised system is expected to merge various PF accounts of individuals and convert it into one. The field functionalities will move on a central database in a phased manner enabling smoother operations and enhanced service delivery. The system will facilitate the de-duplication and merger of all PF accounts of any member. After the development of the systems by the Centre for Development of Advanced Computing or C-DAC, an employee&rsquo;s PF account&nbsp;number will remain the same if they change their jobs and they won&rsquo;t have to worry about the account transfer.

PF fraud concerns led to the&nbsp;Employees' Provident Fund Organisation (EPFO) to warn its subscribers about the potential threat of online fraud.&nbsp;

PF Fraud! EPFO cautions depositors, shares tips on how to stay safe

EPFO warns its over 5 crore subscribers against rising fraud and phishing attacks. 

How to protect your pension funds from fraud, EPFO details

EPFO warned its members against sharing critical information&nbsp;over phone or on social media

PF fraud concerns led to the&nbsp;Employees' Provident Fund Organisation (EPFO) to warn its subscribers about the potential threat of online fraud. India has over 5 crore&nbsp;PF account holders.&nbsp; Warning and advise for PF account holders EPFO has asked members not to share any information about their PF account over the phone or on social media, even if the other party pretends to be a representative of the organisation. Fraud recognition The PF authority clarified that it never asks subscribers to share personal information such as Aadhaar, PAN, UAN, Bank Account, or OTP over the phone, WhatsApp, or social media. Who is most vulnerable? People switching jobs are at greater risk of falling prey to such frauds and need to be extra cautious as&nbsp;PF accounts&nbsp;are often targeted in phishing attacks, where malicious individuals dupe people into sharing crucial details to gain access to their pension funds.

PF interest rate boost for subscribers across the nation as the Finance Ministry on Friday approved 8.5% rate of interest of provident fund deposit for 2020-21 paving way for the Employees' Provident Fund Organisation (EPFO) to credit the interest.The&nbsp;EPF interest rate was kept unchanged for FY 2020-21 as there was more withdrawal than deposits during the entire financial year.&ldquo;People must appreciate that the government has maintained the rate of interest for 2020-21 despite a huge economic downturn due to COVID-19," Virjesh Upadhyay, EPFO board member and general secretary&nbsp;of Bharatiya Mazdoor Sangh&nbsp;was quoted saying.&nbsp;Read/Watch Also: EPFO&nbsp;rate at 7 year lowAn EPFO subscriber can check its EPF account balance by sending an SMS. The PF balance check number is 7738299899 and the text of the SMS format is &ldquo;EPFOHO UAN ENG." So, an EPF account holder, who has its UAN number, is advised to send SMS in this format to 7738299899. On receipt of the SMS, the EPFO will reply to that SMS with the senders' PF account balance details.

Diwali bonanza for your EPF: Find out how much interest you are going to get

Cheer for over 6 crore beneficiaries of Employees’ Provident Fund (EPFO) ahead of Diwali as the Finance Ministry gives nod to rate, interest to be credited soon. 

Better late than never! EPFO interest to get credited soon

<ul>
<li>Interest on your PF balance to be credited soon, Fin Min gives nod for rate&nbsp;</li>
<li>Finance Ministry gives nod for interest rate of 8.5% on&nbsp;EPF&nbsp;balance&nbsp;</li>
<li>EPF&nbsp;withdrawals in the last year were more than deposits&nbsp;</li>
<li>EPFO&nbsp;subscribers can check their balance by sending an SMS&nbsp;to&nbsp;7738299899</li>
</ul>

As per reports&nbsp; 8.5 per cent interest rate was approved by the finance ministry for FY21.

PF interest rate boost for subscribers across the nation as the Finance Ministry on Friday approved 8.5% rate of interest of provident fund deposit for 2020-21 paving way for the Employees' Provident Fund Organisation (EPFO) to credit the interest. The&nbsp;EPF interest rate was kept unchanged for FY 2020-21 as there was more withdrawal than deposits during the entire financial year. &ldquo;People must appreciate that the government has maintained the rate of interest for 2020-21 despite a huge economic downturn due to COVID-19," Virjesh Upadhyay, EPFO board member and general secretary&nbsp;of Bharatiya Mazdoor Sangh&nbsp;was quoted saying.&nbsp; Read/Watch Also: <a href="https://www.editorji.com/story/epfo-keeps-interest-rates-unchanged-at-8-5-for-fy-21-rate-at-7-year-low-1614822728594">EPFO&nbsp;rate at 7 year low</a> An EPFO subscriber can check its EPF account balance by sending an SMS. The PF balance check number is 7738299899 and the text of the SMS format is &ldquo;EPFOHO UAN ENG." So, an EPF account holder, who has its UAN number, is advised to send SMS in this format to 7738299899. On receipt of the SMS, the EPFO will reply to that SMS with the senders' PF account balance details.

PF Rule: According to the CBDT, All existing employees provident fund (EPF) accounts will be divided into taxable and non-taxable contribution accounts. 

Provident Fund (PF) account to be split into two; taxable and non-taxable 

Big Change in you PF account , your Provident Fund account to be split into two; taxable and non-taxable

Big Change in you PF account 

Finance Ministry notifies rules for calculating taxable interest in PF account.&nbsp;

You would soon have two provident fund accounts as per the regulations notified by the central government on Thursday. The PF account would be&nbsp;split into two separate accounts in order to levy the new&nbsp;tax on PF income&nbsp;arising out of employee contributions exceeding Rs 2.5 lakh a year. All existing employees provident fund (EPF) accounts will be divided into taxable and non-taxable contribution accounts.&nbsp; This move does not affect small and medium taxpayers as the Rs 2.5 lakh limit covers around 93 per cent of the people who are <a href="https://www.editorji.com/story/epfo-allows-to-withdraw-non-refundable-advance-in-case-of-job-loss-1624193637656" target="_blank">EPFO </a>subscribers and they will continue to get assured tax-free interest.
Also Read:&nbsp;<a href="https://www.editorji.com/story/your-pf-could-get-blocked-if-you-do-not-follow-this-rule-as-the-deadline-approaches-1628572701992" target="_blank">Your PF could get blocked if you do not follow this rule before September 1, here is what you need to do</a>

EPF-Aadhaar card linking: You might not get your provident fund amount credited if your UAN or the Universal Account Number is not linked with the Aadhaar card...

Your PF could get blocked if you do not follow this rule before September 1, here is what you need to do

Your PF could get blocked if you do not follow this rule in this next 48 hours. Here is what you need to do link your Aadhar with your UAN

PF Alert| Follow this norm else PF funds could be blocked

The deadline to link UAN&nbsp;with Aadhaar&nbsp;was extended till August 31

You might not get your provident fund amount credited if your UAN&nbsp;or the Universal Account Number is not linked with the Aadhaar&nbsp;card.
The deadline to link UAN&nbsp;with Aadhaar&nbsp;was extended till August 31. Earlier it was due by May 31.
The government has made it mandatory for UAN to be linked with Aadhaar so that employers are able to file Employee Cum Return (ECR) challan and deposit the money into your EPF account.
<h2>How to Link Aadhaar to EPF account:</h2>
1. Go to&nbsp;epfindia.gov.in&nbsp;
2. Click on 'Online Services', select E-KYC Portal
3. Enter the Aadhaar number, mobile number
4. Verify OTP&nbsp;and done

epfo

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