EPFO's Central Provident Fund Commissioner K K Jalan has said that these directives shall help the body in getting the bank account details of all the members which are necessary for making UAN operational.
The government has reduced the stipulated period for settlement of various claims like PF withdrawal, pension and insurance by the retirement fund body EPFO to 20 days from the existing 30 days.
Under the scheme, the government will provide subsidy for two years in respect of new employees engaged on or after October 1, 2020, and up to June 30, 2021, Labour Minister Santosh Gangawar said in a briefing on the Cabinet decision.
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.
'Now, we have a minimum pension of Rs 1,000 annually.'
EPFO has recently issued Universal PF Account Numbers for 4.17 crore contributing members.
The deduction will be higher and net take-home pay will fall.
Net new enrolments with retirement fund body EPFO grew by nearly 20 per cent to 12.37 lakh in February compared to the same month in 2020, according to the payroll data released on Tuesday, providing a perspective on formal sector employment amid the coronavirus pandemic. The provisional payroll data of EPFO highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February, 2021, a Labour Ministry statement said. The data reflects growth of 3.52 per cent in net subscribers addition in February 2021 over January 2021.
Public sector telecom firms are gearing up to focus on customer care to match their private sector rivals with the Mahanagar Telecom Nigam Ltd inviting tenders for running helpdesk for its internet and broadband services in Delhi and Mumbai.
During December 2018, maximum number of 217,000 jobs were created in the 18-21 years age group followed by 203,000 in the 22-25 years age bracket.
Chief Williams engineer Sam Michael said it was clear the team had some catching up to do but it was not all doom and gloom.
The addition in January was 131 per cent higher as compared with 3.87 lakh EPFO subscribers added in the year-ago month.
With the new facility, settling PF withdrawal claims would just take few hours.
Unique Identification Authority of India said the alleged data breach took place on a website that does not belong to it.
The online application of such claims would enable EPFO to eventually settle those within three days.
Want to know how to claim tax deduction on property income you earn? Do you know how to withdraw unclaimed EPF money?
Out of around 80 million accounts that were analysed, there were 10 million records with only names and no other details about the subscribers, including their date of joining, date of birth and father's name, among others, in the EPFO's records.
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Modi said these steps exemplified his government's approach of 'minimum government and maximum governance'.
