NEW DELHI: The Employees Provident Fund Organisation (EPFO) is looking to increase the limit for auto settlement option for its subscribers from the current Rs 1 lakh to Rs 5 lakh.While the move has been endorsed by the executive committee, it will need a green light from the central board of trustees. A govt source…
NEW DELHI: The Employees’ Provident Fund Organisation (EPFO) is set to introduce UPI for processing claims, aiming to improve efficiency and reduce transaction time, labour and employment secretary Sumita Dawra said on Tuesday. The Labour and Employment ministry has approved the recommendation of the National Payments Corporation of India (NPCI), which operates retail payments and…
Universal Pension Scheme: The unified scheme might incorporate the Atal Pension Yojana, which is presently overseen by PFRDA. (AI image) Universal Pension Scheme: India is exploring a nationwide voluntary pension initiative that would provide social security coverage to all citizens, according to officials. Initial discussions have begun at the labour and employment ministry regarding this…
Provident Fund claim settlement to get easier? The Employees’ Provident Fund Organisation (EPFO) is set to launch its upgraded IT system, EPFO IT System 2.01, within the next quarter, according to multiple sources who spoke to ET. The new system is expected to significantly improve the user experience for more than 60 million EPFO subscribers…
EPFO revamp on the cards: The government is considering a ‘revamp’ of the Employees’ Provident Fund Organisation (EPFO) to align with the broader vision of universal social security and to significantly improve service delivery.Some of the changes envisioned for the retirement fund body in the short, medium, and long term include restructuring of EPFO offices,…
