EPFO settled close to 150 lakh claims during this fiscal, disbursing over Rs five lakh crore
Synopsis
As per the statement, EPFO has settled 47.58 lakh COVID-19 advance claims till October 31, 2020, disbursing an amount of Rs 12,220.26 crores to claimants while a total of 149.31 lakh final settlement have been made amounting of Rs 55,900.88 crores to PF members till October 21, 2020.
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The Employees Provident Fund Organisation has settled 149.3 lakh claims in the first seven months of the current fiscal, disbursing Rs 55900.88 crore to its beneficiaries. This includes 47.58 lakh non-refundable Covid claims amounting to Rs 12220.26 crore, the labour ministry said on Friday.
“As part of Pradhan Mantri Garib Kalyan Yojana scheme, under para 68L, provision was made for a non-refundable advance from EPF account to EPF members, employed in any factory or establishment located in an area, which is declared to be affected by outbreak of epidemic or pandemic by the ap
There Can Be Change In The EPFO System Says EPFO Officials
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EPFO और प्रोविडेंट फंड ट्रस्ट Bharat Bond जैसे पब्लिक सेक्टर Debt ETFs में कर सकते हैं निवेश, सरकार ने दी मंजूरी Government permits EPFO and PF Trusts to invest in Bharat Bond ETFs and other public sector Debt ETFs
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Updated Jan 01, 2021 | 14:34 IST
In September 2020, EPFO had decided to split the 8.5% interest into two installments of 8.15% and 0.35% at its trustees meet, headed by labour minister Santosh Gangwar. EPFO begins crediting 8.5% interest for 2019-20. Here s how you can check EPF balance
New Delhi: Instead of two tranches as proposed earlier, Employees Provident Fund Organisation (EPFO) has started crediting 8.5% interest on the accumulated corpus of around six crore subscribers at one go from Thursday itself. The interest rate of 8.5% on PF deposits is the lowest in seven years. This is 15-basis points lower than the 8.65% interest announced for 2018-19.
“We had said that it would be our endeavour to provide 8.5% rate of interest on EPF for 2019-20. We have issued a notification to provide the same. We have also begun the process to credit the said rate of interest into subscribers account,” said labour minister Santosh Gangwar in a video message