AUM had touched a record level of Rs 9.58 lakh crore in August last year.
In May, EPFO received deposits of Rs 6,500 crores (Rs 65 billion) which, is 200 crores more than what was received in April this year.
The finance ministry had last year notified a new investment pattern for EPFO.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
It had earlier proposed cutting it down to Rs 250 crore due to slow progress in enrollment of new employees.
Concerned with the continuous downward revision, the EPFO has since last month begun counting people quitting their previous jobs and joining a new one as an addition to the net payroll.
7 million jobs will be created in formal sector in FY18
The retirement fund body plans to launch 'One Employee One EPF Account' system on May 1.
EPFO is also contemplating providing permanent or universal account number to it all active members by October this year.
The EPFO started investing in ETFs in August last year after the CBT in March cleared proposal to invest in equity markets.
The highest number of jobs were created in the age group of 18-21 at 1.29 million, followed by 22-25 years of age at 1.12 million during these seven months.
'They (government) are trying to create market for pension products'.
The rest 25% would be paid to the subscriber at the age of 58.
Besides managing retirement funds, EPFO may come out with a scheme to provide housing to its over 5 crore (50 million) subscribers on additional contribution of 10 per cent by them from their basic wages every month.
The Finance Ministry has given its consent to the EPFO to invest from 5 per cent to 15 per cent of the investable income of the organisation every year.
Some unions have opposed EPFO investing in share markets.
The order also provides that the field office will incur expenditure on the facilitation function under the head of publicity.
The Finance Ministry has been pitching for EPFO funds to be invested in the equity markets to maximise their yields.
Around 20 lakh pensioners to benefit from govt new pension scheme.
Business Processing Outsourcing (BPO) and Knowledge processing Outsourcing (KPO) firms are covered by the retirement fund body EPFO, Parliament was informed.
The railways, the country's largest employer, will be hiring 127,000 people in 2018-2019, for which 23.7 million are competing.
EPFO is managing a corpus of Rs 6.5 lakh crore.
Provisions of RERA, subsidy under PMAY and relaxation in PF withdrawal to buy a house will aid affordable housing, points out Harsh Roongta.
It's high time we now turn the popular question on its head -- when there is no growth in jobs for several years, how can the real GDP grow at 7 per cent per annum, says Mahesh Vyas.
The organised sector workers covered under private PF trusts, which manage their employees' retirement fund themselves, will be able to transfer their PF accounts online from July this year.
The Finance Audit and Investment committee recommended 8.95% interest.
'A subscriber will know exactly how much of his money is in debt and how much in equity.'
Employees covered under private PF trusts, which manage retirement fund of their workers themselves, will be able to transfer their PF accounts online from next month.
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
The much-awaited minimum monthly pension of Rs 1,000 and a higher wage ceiling of Rs 15,000 for social security schemes run by retirement fund manager EPFO will be implemented from September 1.
Inoperative accounts are those accounts where contributions are not made for more than 36 months. The Employees Provident Fund Organisation has stopped crediting interest in these inoperative accounts.
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EPFO had paid 8.5 per cent interest rate to subscribers in 2012-13, which was higher than 8.25 provided in the 2011-12 fiscal.
Retirement fund body EPFO is all set to start online transfer of provident fund accounts in the first fortnight of October, a move that will benefit over 13 lakh applicants every year.
Notices have been issued to the company for penal damages.
The facility for viewing PF accounts online was launched here by Labour Minister Sis Ram Ola in the presence of Minister of State for Labour and Employment Kodikunnil Suresh and EPFO's Central Provident Fund Commissioner K K Jalan.
Tomar had discussed the two proposals with trade unions on June 24 and assured that the government will take at least two weeks to take a decision.
The EPFO has about 3.7 crore (37 million) members.
EPFO fund body EPFO is likely to increase the maximum amount assured under its Employees' Deposit Linked Insurance Scheme (EDLI) to Rs 550,000 from the existing Rs 360,000.
The objective behind the move is to "retain the membership of PF subscribers and to address the social security needs at the time of unemployment."
In January, the Employees' Provident Fund Organisation had asked the field staff to ensure the collection of data in respect of member joining on or after March 1, on a monthly basis and in respect of existing members by June 30, 2013.
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