-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...
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CAG discovers Rs 1,336 crore gap in EPFO books-Vikas Dhoot
-The Economic Times The country's chief auditor has uncovered a Rs 1,336-crore negative balance in the books of the Empoyees' Provident Fund Organisation (EPFO), the custodian of Rs 8.15 crore formal sector workers' lifetime savings. A report, prepared by the Comptroller and Auditor General (CAG) and reviewed by ET, says this discrepancy in the EPFO's books for 2011-12 could grow further. For beneficiaries, this could mean lower returns on Provident Fund savings...
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 to include 'AAA' rated corporate bonds in portfolio-Raj Kumar Ray
-The Indian Express The Employees' Provident Fund Organisation is set to widen its investment horizon by including 'AAA' rated corporate bonds of any private company in its portfolio following a clean chit from Crisil, a move that can open up a window for blue-chip corporates to raise about Rs 35,000 crore through long-term debt papers annually. Crisil, which was appointed by EPFO to advice on investment portfolio, has said that none of...
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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