The decision to hike the interest rate was taken at the meeting of the Central Board of Trustees ( CBT), the highest decisionmaking body of EPFO
, which also has representation from trade unions and employers.
Universal Account Number (UAN) activated members may know their latest PF contribution and balance available with EPFO
by sending an SMS at 7738299899 from registered mobile number.
members will be able to withdraw up to 90 per cent of their accumulation ( employer's as well as employee's contributions, including interest) in the PF account or the cost of the property, whichever is less to provide for the purchase or construction of house/ flat or for buying land.
Besides, most default cases that the EPFO
has reported in its annual report are of less serious nature, such as delayed transfer, dispute on applicability of the EPFO
Act, and determination of the amount to be transferred to the fund.
provides social security to employees who are mainly from the lower income strata of the society.
But the PFRDA Act very clearly says that EPFO
will definitely be out of our purview.
has over six crore subscribers and manages a corpus of Rs 10 lakh crore.
42 crore for the current fiscal was done without factoring in interest payment burden due to enhanced wage ceiling EPFO
had suggested to fix 8.
HOW UAN IS BEING ALLOTTED The EPFO
will allot employers the universal account numbers of their employees.
No employee involvement in withdrawals: At present any request for EPF withdrawal has to be signed by your previous employer and then sent to the EPFO
India-based retirement fund manager, EPFO
, has announced that it has named banks to manage its funds.
Employees Provident Fund Organisation (EPFO
) has introduced UAN-Aadhaar linking facility for the convenience of members using EPFO
Link in UMANG Mobile App.