-The Economic Times NEW DELHI: You may end up saving more in the months ahead with the Employees Provident Fund Organization (EPFO) readying to re-notify a new definition of "compensation" that will include all your allowances, amid intense lobbying against the move by industry bodies. Currently, employers get away by contributing only 12% of the basic salary and dearness allowance, which is not paid by most companies, towards their share of "matching"...
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Sahara India under EPFO scanner for payment defaults-Surabhi
-The Indian Express Sahara India, which is already being investigated by market regulator Sebi, has now also come under the scanner of the provident fund department and is amongst the top defaulters of the Employees' Provident Fund Organisation (EPFO) in the country. Five of the group firms including Sahara India Financial Corporation and the former Sahara Airlines are part of the top 50 companies in the country that have defaulted on depositing...
More »Aadhaar numbers sought
-Deccan Herald Bangalore: The Employees’ Provident Fund Organisation has requested the employers to furnish the Aadhaar numbers of their existing PF subscribers to embed the information in the bank accounts of beneficiaries. The schemes of the EPFO involving transfer of benefits to beneficiaries have been identified for implementation of direct cash transfers from January 1, 2013. The Organisation has asked the employers to maintain the information in excel format till the...
More »Unethical, Extra- Legal Coercion In UID Aadhaar Project -SG Vombatkere
-Counter Currents The Aadhaar scheme of the Unique Identification Authority of India (UIDAI) is to provide India's billion-plus people with a unique identification number. Enrolling into the scheme was and still is not mandatory, though it was mentioned that it would be difficult for people to access public services in the absence of enrolment. The scheme requires individuals to provide their photograph, fingerprints and iris scan together with documentary personal information,...
More »EPFO puts on hold decision to make Aadhaar must for new accounts
-PTI Retirement fund body has decided to put on hold the decision to make it mandatory for new members joining EPF scheme to provide Aadhaar number as credential for enrolment from March 1, 2013. "In view of discussion with UIDAI official and the time required in the process of obtaining Aadhaar numbers, it may not be possible to obtain Aadhaar number by EPF members by March 1, 2013. Therefore it has been...
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