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The EPFO administers the retirement plan for employees in India, which comprises the mandatory provident fund, a basic pension scheme and a disability/death insurance scheme. It also manages social security agreements with other countries. International workers are covered under EPFO plans in countries where bilateral agreements have been signed.
The entire 12% contribution of the employee goes towards the Employees’ Provident Fund Scheme (EPF), while from the employer's share of 12%, 3.67% goes to the Employees’ Provident Fund and 8.33% goes towards the Employees’ Pension Scheme (EPS) along with 1% contribution of the government while 0.5% contribution of the employer goes to the ...
In case of the account holder's death, the balance amount will be paid to his nominee or legal heir even before 15 years. Nominees or legal heirs are not eligible to continue the deceased's account. If balance amount in the account of a deceased is higher than ₹150,000 then the nominee or legal heir has to prove the identity to claim the ...
A man who admitted killing his half-brother in a drunken confrontation on a street has been jailed for five years. Kyan McWhir, 31, fatally punched 52-year-old father-of-two John McWhir on Crown ...
Legally, the EPF is only obligated to provide 2.5% dividends (as per Section 27 of the Employees Provident Fund Act 1991). [8] The EPF claims that the lowered dividend is the result of its decision to invest in low-risk fixed revenue instruments, which produce lower returns but maintains the principal value of its members' contributions.
The song “Have Yourself a Merry Little Christmas” is a holiday classic, but its genesis goes back to Judy Garland in Meet Me in St. Louis.It turns out, she helped this melancholy Christmas ...
"Satire can be a form of saying a joke," the student explained. "But satire can be dangerous, because some people may fall for it. Like you might have gone to buy plane tickets for Florida."
EPFO is the largest social security organisation in India with assets well over ₹ 5 lakh crore (US$159 billion) as of 2014. [ 52 ] National Pension Scheme – a defined-contribution–based pension scheme launched by the Government of India open to all citizens of India on a voluntary basis and mandatory for the employees of central ...