epfo pension latest news 2020
EPFO had made mandatory for subscribers to submit the number for continuing the benefits under its scheme earlier in January. EPS 95 PENSION LATEST NEWS TODAY || eps 95 pension latest news 2020 || epfo pension news today. ». The third-party service providers that generate these cookies, such as, social media platforms, have their own privacy policies, and may use their cookies to target advertisement to you on other websites, based on your visit to our sites. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. this link. EPF Interest Rate 2020-21 News: In a major development, retirement fund body EPFO on Thursday decided to retain 8.5 per cent rate of interest on provident fund deposits for the current financial year. The other tracking technologies work similarly to cookies and place small data files on your devices or monitor your website activity to enable us to collect information about how you use our sites. Session cookies are temporary and deleted from your machine when your web browser closes. Ashwani Bhatia of SBI Mutual Fund, says the ongoing market rally is very concentrated, but that does not make the role of active fund managers any less meaningful. The Employees' Provident Fund Organisation (EPFO) has reportedly proposed restrictions on the early withdrawal of pension contributions by formal sector workers.The proposal is part of a new scheme that will be notified under the labor codes, according to BloombergQuint.The move is aimed at raising the pension amount for members. A change in the taxation structure on savings instruments could well benefit investors in the short and medium term, but could hurt in the long run. Retirement fund body EPFO could take a final call on fixing the minimum pension for its subscribers at Rs 1,000 per month. EPFO is an organisation that administers EPF and EPS schemes. More videos. The EPFO is now going to disburse 100 per cent pension to all such EPS pensioners from May 2020. Employees’ Provident Fund Organisation (EPFO) has good news for those EPS pensioners who have completed 15 years of their retirement by April 2020. commuted pension and remaining two-thirds was paid as monthly pension to an employee for his/her lifetime. In the present scenario, Central Government contributes 1.16 per cent of workers' basic wages (basic pay plus dearness allowance), towards EPS-95 fund. EPS 95 Pensioners Higher Pension: SLP 19954 of 2015 -Unexempted – Austin Joseph. EPFO releases pension and arrears, accepts workers demand for commutation; here's all you need to know The Employees' Provident Fund Organisation (EPFO) on Monday released Rs 868 crore pension along with Rs 105 crore arrears on account of the restoration of commuted value of (higher) pension. EPFO board recommends 8.5% interest for 2020-21; EPFO board recommends 8.5% interest for 2020-21 A CBT member said discussions on the investment portfolio of the retirement fund body took place and keeping the returns in consideration, the Board made the recommendation for 8.5 per cent interest rate. Session Cookies Zeenews.com use cookies and other technologies to store information in your web browser or on your mobile phone, tablet, computer, or other devices (collectively "devices") that allow us to store and receive certain pieces of information whenever you use or interact with our zeenews.india.com applications and sites. Earlier last year in June, the Centre has brought a package for the textile and apparel sector which was later extended to made-ups also in December 2016. EPF Interest Rate 2020-21 News: In a major development, retirement fund body EPFO on Thursday decided to retain 8.5 per cent rate of […] As per EPS rules, an EPFO member who retired before Sept 26, 2008, could get maximum one-third of his/her pension as lump-sum i.e. Photo: Reuters, Copyright © Zee Media Corporation Ltd. All rights reserved, Dow vs Nasdaq: Market Guru Anil Singhvi decodes opposite trends in both US indices. If you have any other questions about our Cookie Policy, please contact us at: EPS 95 Pensioners Higher Pension: As you know, last year, I had shared a copy of the paper book of SC in r/o SLP no. 7th Pay Commission latest news today: MASSIVE DA, DR relief for central government employees! "We have decided to form a committee to suggest modalities for implementing the proposal. See Zee Business Live TV streaming below: Nodding the views expressed by Singhal; another SEBI registered tax and investment expert Jitendra Solanki said, "According to the EPFO rules of the Employees Pension Scheme (EPS), EPFO members who retired before 26th September 2008 can receive a maximum of one-third of their pension as a lumpsum. New Delhi | Jagran Business Desk: The minimum pension of private sector employees is likely to rise under the new Employees Pension Scheme (EPS) in the upcoming budget 2020. We use session cookies to help us track internet usage as described above. In addition, they may start getting a pension under the employees’ pension scheme (EPS). EPFO may give subscribers option to increase stock investments in new year, Will go public in next 15-18 months, says SBI Mutual Fund CEO, EPFO to discuss making EPF optional for apparel workers, Posts offices can do employment registration, issue digital life certificates, EPFO joins CSC network; pensioners can now submit digital life certificates via CSC networking points, EPFO mulls medical benefits for its pensioners, EPFO defers decision to hike investments in ETFs to 15%, EPFO extends deadline for submitting Aadhaar till March 31, EPFO considering minimum pension of Rs 1,000, BJP plans Rs 2 lakh crore construction projects in UP ahead of polls, Employees' Provident Fund Organisation may allow pledging PF contributions to buy low-cost house, EPFO launches online PF transfer facility for PF trusts, D V Sadananda Gowda launches Rs 1000 minimum monthly pension scheme in Gujarat, RCAM's assets under management rises by Rs 7,000 cr in April-June, Time to bond with the best and expand debt market, Unions fume over suspension of Rs1,000 minimum monthly pension, Decision fixing minimum pension to Rs 1,000 for EPF to be considered: Govt, Hike contribution to ensure Rs 1,000 minimum pension: EPFO to Government, 10-year benchmark expected to stay range bound, Employees, employers differ on Rs 1,000 pension in EPF scheme, EPFO defers decision on fixing minimum pension at Rs 1,000, EPFO may fix minimum pension at Rs 1,000 per month tomorrow, EPFO may fix minimum pension at Rs 1,000 at Feb 22 meeting, EPFO may fix minimum pension for members at Rs 1,000 per month, EPFO to use Aadhaar-based cash transfers in 43 districts by December 31, Sec 88 investments may be taxed at the end of term, Another Ruchi Soya in the making? अगर कोई व्यक्ति रिटार्ड होता है या होने वाला हैं तो उसके पास ऑप्शन होगा कि वो अपने पेंशन की कुल रकम में से 40 फीसदी को एडवांस में ले सकेगा. These cookies, for example, let us recognize that you have created an account and have logged in/out to access site content. In June 2014, the government had decided to give pension payment order to an employee on the day of retirement itself with the aim to ensure a life of dignity for pensioners. Earlier in November last year, the EPFO had decided to extend the last date for submission of life certificate till January 15, 2017. This information is shared for the information of EPS 95 pensioners. These cookies let us operate the sites in accordance with the choices you make. "The pension received from EPFO is taxable under the head salary and it will qualify for the standard deduction. These cookies permit us to "remember you” in-between visits. EPFO Pension latest news: The Employees' Provident Fund Organisation (EPFO) members will be waiting anxiously for Monday January 18th as the Supreme Court will be delivering important verdict in regard to the EPFO Pension. Persistent Cookies This allows our sites to recognize your device from those of other users on our sites. The EPF (Employees Provident Fund) interest rate provided for 2019-20 was the lowest since 2012-13, when it was 8.5 per cent. Since the HC order, the EPFO was handed over Rs 839.76 crore. They also said this would be unviable for the government to support in the long run, unless a system of “defined contributions” was put in place. But, in 2009, a new rule was introduced where a retired person was given an option to withdraw one third of their EPS balance as lump sum amount, which is income tax exempted. We use persistent cookies to improve your experience of using the sites. Some features used on this website may involve a cookie being sent to your computer by a third party. As per the EPFO rules, those who chose to withdraw one-third of their lumpsum EPS balance used to get two-thirds of their EPS balance in monthly pension. If you want to remove previously-stored cookies, you can manually delete the cookies at any time from your browser settings. However, this will not prevent the sites from placing further cookies on your device unless and until you adjust your Internet browser setting as described above. Provident fund accounts with privately held PF trusts can now be transferred online to accounts maintained by the retirement fund body EPFO. Please share this information with maximum EPS, 95 pensioners on Facebook, Whatsapp. The EPFO is developing a software that will show savings in cash and ETF components separately. As per the EPFO rules, those who chose to withdraw one-third of their lumpsum EPS balance used to get two-thirds of their EPS balance in monthly pension. zeenews.india.com understands that your privacy is important to you and we are committed for being transparent about the technologies we use. "In view of the ongoing COVID-19 pandemic and the vulnerability of elderly population to coronavirus, the Employees' Provident Fund Organisation (EPFO) has extended the time limit up to 28th February 2021 for submission of Life Certificate (Jeevan Pramaan Patra-JPP) in respect of the Pensioners drawing pension under EPS 1995 (Employees' Pension Scheme-1995) and whose Life certificate is due in any month till February 28, 2021," a labour ministry statement said. Bandaru Dattatreya said the NDA government at Centre was determined to provide employment for as many as five crore youths by 2020. Tap to unmute. For reprint rights: The Night of Ideas: 24 Hours Live to Feel "Closer", The Economic Times Digital Payments Forum, To keep EPFO viable, officials give House panel radical idea, EPFO extends deadline to submit life certificate by pensioners till February 28, EPFO pensioners to get pension calculation statement: Move aimed at reducing grievances, EPFO pensioners can give digital life certificates till March 31, EPFO pensioners can give digital life certificate till February 28, Last date for EPFO pensioners to submit life certificates is January 15, EPFO directs field offices to settle pension on retirement day: Bandaru Dattatreya, Age limit under EPFO pension scheme may be raised to 60, EPFO disburses Rs 868 crore of pension along with Rs 105 crore arrears for commutation, Govt notifies higher pension for 6.3 lakh EPS pensioners who opted for commutation. Till now the minimum pension has been fixed at ₹ 1000 per month. If you subscribe to a newsletter or otherwise register with the Sites, these cookies may be correlated to you. Retirement fund body EPFO today deferred a decision on raising the minimum monthly pension to Rs 1,000 for its subscribes. epfo/eps-95 Pension latest news today 27 November 2020 aaj ki bahut badi khabar November 27, 2020 63 Government news#epfo#eps-95#epf /latest news today#Nagpur: In the last 3 years, 1,54,003 pensioners of the country passed on their way to higher pension. 19954 of 2015 decided on 12.7.2016. Cric News • 3.7K views. In any event, such information will be kept in our database until we get explicit consent from you to remove all the stored cookies. The Additional Central Provident Fund Commissioner, (Pension) Employees Provident Fund Organisation (Ministry of Labour and Employment) Government of India, Bhavishya Nidhi Bhavan 14 Bhikaji Cama Place, New Delhi 110 066. “The labour ministry will issue a notification on January 1, 2020, to implement the EPFO’s decision to restore commutation, or advance part-withdrawal, under the Employees’ Pension Scheme,” said the official, who did not wish to be identified. For example, if you view or listen to any embedded audio or video content you may be sent cookies from the site where the embedded content is hosted. RCAM said its AUM have increased by Rs 7,000 crore in the April-June period 2013, taking the total to Rs 1.80 lakh crore. Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. If you do not want cookies to be dropped on your device, you can adjust the setting of your Internet browser to reject the setting of all or some cookies and to alert you when a cookie is placed on your device. Organized sector companies coming under the ambit of EPFO have to provide benefits of EPF (Employee Provident Fund) to their employees.epfo pension latest news,epfo pension news,epfo,EPFO account,EPFO proposal,EPFO subscribers,EPFO website,Good News For epfo Pensioners,epfo Pension, epfo Diwali Gift,EPFO Rules,PF account holders,now this important facility will be available online,EPFO … A cookie is a small text file that can be stored on and accessed from your device when you visit one of our sites, to the extent you agree. On what does it mean by commutation of pension, Solanki said that if the Provident Fund (PF) account holders are entitled to receive the pension amount every month after their retirement, a lump sum in advance, it is called commutation of pension. This cookie policy explains how and why cookies and other similar technologies may be stored on and accessed from your device when you use or visit zeenews.india.com websites that posts a link to this Policy (collectively, “the sites”). job February 15, 2021 Very good news is coming to pension holders. 352/2019 (Diary no. EPFO's trustees today deferred the discussion on the proposal to increase investments in ETFs to 15%, from the current 10% of investible deposits, in 2017-18. By continuing to browse or use our sites, you agree that we can store and access cookies and other tracking technologies as described in this policy. Does pension from EPFO qualify for standard deduction? But later, it decided to give benefit to Un-Exempt Organisations only. The EPFO had provided 8.65 … Speaking on the EPFO benefit to near 6.3 lakh EPS pensioners Manikaran Singhal, a SEBI registered tax and investment expert said, "This EPFO rule used to exist till 2009.