Employees’ Provident Fund Organization has told why this amount is not showing in your account. The Finance Ministry has issued its clarification on this subject.

Finance Ministry gave information

In a tweet, the Finance Ministry has blamed the technology for this. Giving information, the ministry has said that due to ‘software upgrade’ for changes in the taxation law on PF savings, customers are not able to see the interest credit. The ministry tweeted, ‘There is no loss of interest for any customer. The interest is being credited to the accounts of all EPF subscribers. However, this is not visible in view of a software upgrade being implemented by EPFO.

Let us tell you that in response to a tweet by Mohandas Pai, former director of Infosys Technologies, the Finance Ministry issued a clarification. “Payment along with interest is being made to all outgoing customers seeking settlement and customers seeking withdrawals,” the ministry said in another tweet.

There is no loss of interest for any subscriber.

The interest is being credited in the accounts of all EPF subscribers. However, that is not visible in the statements in view of a software upgrade being implemented by EPFO to account for change in the tax incidence. (1/2) https://t.co/HoY0JtPjII

— Ministry of Finance (@FinMinIndia) October 5, 2022

Mohandas Pai tweeted

In fact, earlier Mohandas Pai has tweeted, tagging Finance Minister Nirmala Sitharaman, Prime Minister’s Office and PM Narendra Modi, “Dear EPFO, where is my interest?

This time getting the lowest interest

It is worth noting that according to the information given by the government, EPF subscribers will get an interest rate of 8.1% for 2021-22 in their retirement savings accounts. Earlier in March this year, the Employees’ Provident Fund Organization (EPFO) had decided to reduce the 8.5% given on EPF deposits in 2020-21 to 8.1% for 2021-22.

The post EPFO Latest Update: Big News! Is the interest amount not showing in your PF account? Know the reason first appeared on Rightsofemployees.com.

Many employees across the country deposit some part of their salary in their PF account as provident fund. This amount is very useful in retirement and sometimes in unwanted situations. The amount deposited by the employees in their PF account, the same amount is deposited in the account by the employer organization.

How to check your passbook balance?

Many employees working in the private sector keep changing their organization from time to time, so their PF account number also keeps changing. In such a situation, they can see the total amount deposited in their PF account by logging in through UAN number. You can easily access the passbook of your PF account by logging in with the UAN number.

E-nomination made mandatory

If you want to access your passbook by visiting the EPFO ​​website, then you have to do e-nomination first. A pop-up window for e-nomination appears on the website as soon as you open the passbook page.

In this, if you do not file e-nomination, then this pop up window does not proceed beyond the website page. Hence, it is now mandatory for the account holders to do e-nomination, otherwise they will not be able to access their passbook account.

The post Big news for EPFO ​​account holders, do this work immediately, or else there will be loss first appeared on Rightsofemployees.com.

The last date was 31st December 2021 which has been extended. However, now no deadline has been fixed for e-nomination. Let us tell you that every member of EPFO ​​gets the facility of insurance cover under the Employee Deposit Linked Insurance Scheme.

In this, a maximum of Rs 7 lakh is paid to the nominee under the insurance cover. Let us tell you that in the year 2021, the limit of Insurance Amount given under the Employee Deposit Linked Insurance Scheme, 1976 (EDLI Scheme) has now been increased from Rs 6 lakh to Rs 7 lakh.

Under the latest amendment, now the claim of this insurance cover will be 35 times of the last basic salary + DA, which was 30 times earlier. Also, now there will be a maximum bonus of Rs 1.75 lakh, which was earlier Rs 1.50 lakh. This bonus is considered to be 50 percent of the average PF balance during the last 12 months.

For example, if the basic salary + DA for the last 12 months is Rs 15000, then the insurance claim (35 x 15,000) + 1,75,000 = Rs 7 lakhs. This is the maximum claim.

The post Good news for EPFO ​​account holders, EPFO ​​is giving benefit of Rs 7,00,000 for free, know how to get benefit…! first appeared on Rightsofemployees.com.

EPFO, which cuts PF, has not officially announced the date of transfer of interest money, but this claim is being made on a large scale in all media reports. It is believed that by August 30, the interest amount will be deposited in the account of the employees. For information, let us tell you that the government had transferred 8.5 percent interest to the account for the last financial year 2019-20. At the same time, employees are waiting for the interest money to be received on PF for a long time.

• Know when the money will come in the account

According to the information received, on any day the government transfers interest money to the PF account of the employees. In fact, if the government does this, more than 6 crore people will be given its benefit. This has not been confirmed by the government or EPFO. According to some media reports, by August 30, the government can send this money to the PF account of the employees.

• Employees will get the benefit of so many lakh rupees

The government is going to be kind to the PF employees now. If there is an amount of Rs 7 lakh in your account now, then you will be sent for a total of Rs 56.000 at the rate of 8.1 percent interest. This simply means that if the government sends this money to the employees, then they will get tremendous benefits.

• Check pf money like this

First of all you have to go to epfindia.gov.in.

Now you have to click on the option of Click Here to know your EPF Balance.

Now you have to be redirected to the page of epfoservices.in/epfo/.

Now you have to click on the option of Member Balance Information.

Now enter your PF account number and registered mobile number here.

Now select your state.

After doing this, click on the link of your state’s EPFO ​​website.
Now click on submit option.

The post Good news for PF employees! 56,000 rupees will come in the account, check check immediately first appeared on Rightsofemployees.com.

Money will come in the account soon

Most of the employees across the country contribute to the PF account. If PF money is deducted from your salary, then soon a large amount can be transferred to your account. At present, more than 6 crore employees contribute to the PF account across the country.

Only these employees will get benefits

Employees’ Provident Fund Organization (EPFO) is going to transfer PF interest money to the employees’ account very soon. Such employees who have 5 lakh rupees deposited in their PF account, they will get 40 thousand rupees as interest. It is being claimed in many media reports that the interest amount can be transferred to the PF account soon.

You can check PF account balance sitting at home

• To check your PF account balance, first you have to go to epfindia.gov.in.
• After this you have to click on the option of ‘Click here to know your EPF balance’.
• After this you have to go to the page of epfoservices.in/epfo/ through the redirect link.
• After this you have to click on the option of ‘member balance information’.
• After this you have to enter your PF account number and your registered mobile number here.
• After this you have to select your state and click on the website link of the EPFO ​​office of your state.
• After that you have to click on the option of ‘Submit’.
• As soon as this whole process is completed, your PF account balance will be displayed on the screen.

The post EPFO Employees Good News : Employees are going to get good news soon, Rs 40,000 will be transferred to the account! first appeared on Rightsofemployees.com.

Money will come in the account soon

Most of the employees across the country contribute to the PF account. If PF money is deducted from your salary, then soon a large amount can be transferred to your account. At present, more than 6 crore employees contribute to the PF account across the country.

Only these employees will get benefits

Employees’ Provident Fund Organization (EPFO) is going to transfer PF interest money to the employees’ account very soon. Such employees who have 5 lakh rupees deposited in their PF account, they will get 40 thousand rupees as interest. It is being claimed in many media reports that the interest amount can be transferred to the PF account soon.

You can check PF account balance sitting at home

• To check your PF account balance, first you have to go to epfindia.gov.in.
• After this you have to click on the option of ‘Click here to know your EPF balance’.
• After this you have to go to the page of epfoservices.in/epfo/ through the redirect link.
• After this you have to click on the option of ‘member balance information’.
• After this you have to enter your PF account number and your registered mobile number here.
• After this you have to select your state and click on the website link of the EPFO ​​office of your state.
• After that you have to click on the option of ‘Submit’.
• As soon as this whole process is completed, your PF account balance will be displayed on the screen.

The post EPFO Employees Good News : Employees are going to get good news soon, Rs 40,000 will be transferred to the account! first appeared on Rightsofemployees.com.

EPFO’s New Update To Link Aadhaar In PF Account

Actually till now it used to be that you could link Aadhaar any number of times in your PF / UAN account. (As my Aadhaar has been linked thrice in my UAN account) But EPFO ​​has made a new update in the KYC section of the Unified Member Portal, after which you will not be able to link your Aadhaar KYC again and again. If you have once linked your Aadhaar with your PF/UAN account and for the second time add Aadhaar KYC on KYC option of Unified Member Portal to link Aadhaar, you will get to see an ERROR which reads –

By the way, let us tell you that if your AADHAAR KYC is linked to your PF / UAN account, then there is no need to link your Aadhaar card again, so EPFO ​​has updated this.

How To Link Aadhar In PF Account

If Aadhar card is not linked in your PF / UAN, then you can link your Aadhar card in these 3 ways-

Unified Member Portal by adding Aadhaar KYC.
From eKYC portal.
With AADHAAR Seeding option on UMANG App.

The post EPFO Issues New Update To Link Aadhaar In PF Account first appeared on Rightsofemployees.com.

If you also have a PF account in the Employees’ Provident Fund Organization (EPFO) , then you can take advantage of Rs 7 lakh without doing anything. Actually, EPFO ​​subscribers get the facility of insurance cover under the Employee Deposit Linked Insurance Scheme (EDLI) . In this scheme, the nominee is given a maximum insurance cover of Rs 7 lakh. People working in private companies also get free benefit of insurance cover up to Rs 7 lakh.

Know – Under what circumstances do you get 7 lakh rupees?

EDLI scheme can be claimed by the EPFO ​​member on behalf of the nominee in case of illness, accident or untimely death of the employee. Now this cover is also available to the aggrieved family of employees who have worked in more than one establishment within the 12 months immediately preceding the death.

Employees do not have to pay any extra

The employee does not have to make any additional payment under the scheme. If there is no nomination under the scheme, then the wife, unmarried daughters and minor sons of the deceased employee will be considered as the beneficiary. If the claimant is a minor (below 18 years), his guardian can claim on his behalf.

These documents are necessary

To withdraw money from the provident fund account, the form to be submitted to the employer along with the Form-5 IF of the insurance cover will also have to be submitted. The employer will verify this form. If the employer is not available, the form can be attested by any Gazetted Officer, Magistrate, President of Gram Panchayat, President/Secretary/Municipality or Member of District Local Board, Postmaster or Sub Postmaster.

E-nomination facility also started

EPFO has now started the facility of e-nomination to give the information of the nominee, those who are not enrolled in it, they are being given a chance. After this, the information like name of the nominee, date of birth will be updated online.

The post EPFO Latest Update: PF account holders will get benefit of Rs 7 lakh under EDLI scheme first appeared on Rightsofemployees.com.

Now EPFO ​​is preparing a central system which will ease some difficulties. However, the EPFO ​​will approve it after considering the proposal for setting up a central pension distribution system in its meeting to be held on July 29 and 30. With the establishment of this system, pension will be transferred in one go to the accounts of 73 lakh pensioners across the country.

At present, 138 regional offices of EPFO ​​transfer pension to the accounts of the beneficiaries of their area. In such a situation, pensioners get pension on different days and times. A source told PTI-language that the formation of a central pension distribution system will be proposed in the meeting of the Central Board of Trustees (CBT), the apex decision-making body of EPFO, to be held on July 29 and 30.

The source said that after the installation of this system, the distribution of pension will be done on the basis of the database of 138 regional offices. With this, 73 lakh pensioners will be given pension simultaneously. The source said that all the regional offices deal with the needs of the pensioners of their area differently. With this, pensioners are able to pay pension on different days.

In the 229th meeting of the CBT held on November 20, 2021, the trustees had approved the proposal for development of a centralized IT based system by C-DAC.

The Labor Ministry had said in a statement after the meeting that after this the details of regional offices would be transferred to the central database in a phased manner. This will facilitate the operation and supply of services.

What is Employees Provident Fund

Employees’ Provident Fund, commonly known as PF (Provincial Fund). It is a retirement or post-retirement benefit plan. This facility is available to all salaried employees. Under this scheme, the employee as well as the employer (company or institution) contributes a certain amount from their basic salary (approximately 12%) to the EPF account. The entire 12% of your basic salary is invested in an Employees’ Provident Fund.

Out of 12% of basic salary, 3.67% is invested in Employees Provident Fund or EPF and the rest. 8.33% is converted into your EPS or employee’s pension plan. Therefore, Employees’ Provident Fund is one of the best ways of saving which enables the employees to save a part of their salary every month and use it after retirement. Nowadays, one can check PF that how much money got deposited in his/her PF account.

The post Good news for 73 lakh pensioners, EPFO ​​will transfer money to the account on time, know how immediately first appeared on Rightsofemployees.com.

An important meeting of the retirement body EPFO ​​is going to be held on 29 and 30 July. In this meeting, a decision can be taken regarding the formation of the Central Pension Disbursal System . 73 lakh pensioners will get the benefit of this and pension can be transferred to everyone’s account simultaneously. At present EPFO ​​has 138 regional offices. All these offices give benefit to the beneficiaries in their pension account according to their own. In such a situation, pensioners get pension on different days and at different times.

According to information received from sources by news agency PTI, a proposal to set up a Central Pension Disbursal System will be proposed in the EPFO ​​meeting to be held at the end of July. The proposal will be placed before the Central Board of Trustees (CBT), the apex decision-making body of the EPFO. The source said that the Central Pension Disbursal System will use the data of 138 regional offices and then the pension will be released in the bank accounts of about 73 lakh pension beneficiaries simultaneously.

The data from the regional office will be put into the central database

The source said that all the regional offices deal with the needs of the pensioners of their area differently. With this, pensioners are able to pay pension on different days. In the 229th meeting of the CBT held on November 20, 2021, the trustees approved the proposal for development of a centralized IT based system by the C-DAC. The Labor Ministry had said in a statement after the meeting that after this the details of regional offices would be transferred to the central database in a phased manner. This will facilitate the operation and supply of services.

The hassle of transferring PF account will end

With the implementation of the centralized system, EPFO ​​subscribers will get many benefits. With this there will be no duplication, as well as multiple PF accounts of one member will become a single account after merger. If someone changes jobs, then the hassle of transferring PF account will also end.

Rules may change regarding withdrawal from pension account

The source also told that the Central Board of Trustees may also consider implementing a new rule regarding withdrawal from the pension account. Under this, the EPFO ​​subscriber can easily withdraw from the pension account if he has contributed less than six months. As per the current rules, if a subscriber has made a contribution for a period of six months to 10 years, the same can be withdrawn from the pension account

The post EPFO: Good news for 73 lakh pensioners, EPFO ​​made this big announcement first appeared on Rightsofemployees.com.

The post Good News: EPFO ​​is giving benefit of Rs 7,00,000 for free, Know about the benefits here…! first appeared on Rightsofemployees.com.