Diabytes
Employees' Provident Fund Organization News
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The year-on-year analysis reveals a growth of 3.99% in net payroll additions compared to February 2024.
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An increase of 11.48 per cent has been registered in net payroll addition during the current month as compared to the previous month of December 2024.
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EPFO has introduced an Auto Claim Solution where in claim is processed automatically by IT system without any human intervention.
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Every month, each employee and the employer contribute 12% of their basic income to these PF accounts as a fixed contribution.
Employees have four options for checking the balance of their EPF accounts.
You can check PF balance via SMS, missed call and EPFO website.
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EPFO e-nomination can be applied without visiting office.
No e-nomination if profile picture not added.
See details of profile picture required for e-nomination.
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EPFO e-nomination can be made from home.
No e-nomination if profile picture not added.
See details of profile picture required for e-nomination.
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The name of the nominee mentioned in the latest PF nomination will be treated as final.
After a fresh nomination by the EPFO account holder, the earlier nomination will be treated as cancelled.
EPFO has also advised all its subscribers to complete the e-nomination process now.
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EPFO stated that it never requests personal information such as Aadhaar, PAN, UAN, Bank Account, or OTP over the phone, WhatsApp, or social media.
The EPFO encouraged PF account holders not to reply to calls demanding personal information, stating that it never requires them to deposit money in order to use its services.
By disclosing personal information, hackers may be able to get access to your EPF account and jeopardise its security.
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EPFO cut the interest rate to a seven-year low of 8.5 percent for 2019-20 in March.
Citing the Covid-19 pandemic, EPFO recently permitted members to take money out of their retirement fund as a non-refundable advance.
EPFO offered its subscribers an interest rate of 8.55 percent. In 2016-17, the interest rate was 8.65%.
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Retirement fund body EPFO has decided to work in mission mode to provide portable Universal Account Number to contributing members initially and seed it with KYCs like Aadhaar and PAN to make it more secure.
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