IWs faced a lot of problems when returning to India, in terms of higher contributions and restrictions on the withdrawal of accumulated balance.

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The Central Board of Trustees (CBT) has turned down the proposal to reduce the mandatory contributions from workers and employers to 10 per cent.

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In a bid to increase social security and enhance worker awareness EPFO has taken significant measures to provide more benefits to members and ease the withdrawal process.

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Wednesday, 22 February 2017 10:39

Get your PF money in 3 hours

EPFO is all set to embrace technology in a major way, enabling online withdrawal of PF funds and quicker settlement of claims.

 

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Companies which had not earlier enrolled their employees under the EPF scheme can now do so, against payment of a minimal damage fee of Re 1 per year of default.

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The proposal — likely to be approved — allows the subscribers the option of voluntary retention of EDLI membership, at a lesser rate of contribution, for three years following loss of job.

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Wednesday, 16 December 2015 09:51

PF withdrawal gets easier

Employees can now withdraw their provident fund money without employers' permission.

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