Diabytes
PF accounts News
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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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The Employees' Provident Fund Organisation's (EPFO) has sought views from the Comptroller and Auditor General (CAG) in this regard.
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Retirement fund body EPFO has extended the deadline for submitting Aadhaar number to April 30, 2017 for its over four crore members.
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A parliamentary panel has asked the labour ministry to conduct special inspection or audit of private EPF trusts that have been found to be investing their workers' retirement savings in own firms through mutual funds.
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Subscribers of retirement fund body EPFO can now withdrawal money from their PF account using one common form and will not be required to file documents like marriage invitation cards for taking advances.
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EPFO has also done away with the practice of filing utlisation certificates for advances taken from their PF accounts and can submit self-utlisation certificate.
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Retirement fund body EPFO on Tuesday decided to provide interest on inoperative accounts from April 1, a move which will benefit over nine crore such account-holders having total deposits of over Rs 32,000 crore.
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EPFO carried out a drive to realise PF contributions from employers and took the strict action against them between April 1 last year and March 10 this year.
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Retirement fund body has achieved another milestone in the process of digitising its operations by updating 15.54 crore PF accounts for 2014-15 in a day.
Retirement fund body EPFO has asked its field offices to identify the beneficiaries of inoperative PF accounts and settle those either by making payments, or transferring money to their active accounts.
Provident fund accounts with privately held PF trusts can now be transferred online to accounts maintained by the retirement fund body EPFO.
There are 3,621 private provident fund trusts (PPFT) which are managing the accounts as well as retirement fund of their workers. These trusts are regulated by the EPFO.
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