Registration of beneficiaries under PMRPY scheme expires on 31st March 2019. Registration may not be possible after 1st April 2019. About PMRPY Benefit Scheme PMRPY-Pradhan Mantri Rojgar Protsahan Yojana launched on 9th August 2016 with an objective to incentivize employers for the creation of employment. Under the scheme, the Government paying full employers' contribution of […]
Supreme Court Judgement on PF Contribution Supreme Court on EPF: Good news for employees; Special allowances to be clubbed with basic salary for PF Calculation. While 12% of the basic salary is deducted for PF from the worker, the employer makes a matching contribution. The Supreme Court order states that special allowances will have to […]
Employees' Provident Fund Organization on 21st February 2019 has increased the interest rate on Employees' Provident Fund(EPF) to 8.65% for the current financial year(2018-19). The increase in the EPF interest rate from 8.55% in the financial year(2017-18) expect to benefit six crore subscribers of the Provident Fund Scheme. All the members of the Central Board […]
The Government on 13th June 2019(Thursday) announced reducing the rate of ESI contribution from 6.5% to 4%. The Government of India has taken a decision to reduce the rate of contribution under the ESI Act from 6.5% to 4% Employers' contribution being reduced from 4.75% to 3.25% Employees' contribution being reduced from 1.75% to 0.75% […]
Budget 2018 Proposal The Government announced the Lower PF Rates for new women employees will be 8% for the first three years. Women workers' contribution towards PF will reduce to 8% for the first three years, without employer's contribution reducing. This will allow more women to get into the formal economy. "Proposed changes to PF scheme […]
The central Government launched the PMRPY(Pradhan Mantri Rojgar Protsahan Yojana) in August 2016, and it aims to promote the hiring of new talent or 'Rojgar Protsahan'. Benefits of the PMRPY The PMRPY benefits employers by reducing their EPF expenses. Under this scheme, the employer benefits by hiring new employees. For any new employee in this […]
Now, EPF Subscribers can withdraw 75% EPF amount. Under the new provision in the Employee Provident Fund Scheme 1952, It will enable a member of the EPF, who is no longer in employment for a continuous period of one month, can withdraw 75% of the total fund standing to his or her credit in the […]
PF Withdrawal Rules EPF or Employee Provident Fund should only be withdrawn at the time of retirement. To encourage subscribers to transfer their money to a new PF account rather than withdraw the sum, EPFO (Employees' Provident Fund Organisation) has taken many initiatives. EPFO's "One Member - One EPF Account" facility can be availed by subscribers […]
