Latest news with #EPFAct
The Hindu
5 days ago
- General
- The Hindu
EPFO outreach programme held in Salem
The Nidhi Aapke Nikat (PF near you), the monthly district outreach programme of EPFO, was conducted by the regional office in Salem and district offices in Erode, Namakkal, Dharmapuri, and Krishnagiri districts recently. In the programme, Pension Payment Orders (PPOs) issued under the special campaign for settlement of death claims were handed over to beneficiaries/family members of the deceased members. The officials intimated that any beneficiaries/nominees of the deceased EPF members who are yet to get the statutory benefits under the EPF Act and scheme may approach the regional office in Salem or concerned district offices for suitable guidance to avail the benefits.
Time of India
15-05-2025
- Business
- Time of India
HC restrains EPFO from taking action against Tata Lockheed Martin Aerostructures over dues
Hyderabad: The Telangana high court has directed the Employees' Provident Fund Organisation ( EPFO ) not to take any coercive action against Tata Lockheed Martin Aerostructures Ltd, located in Adibatla, in connection with the recovery of alleged dues. The EPFO had issued prohibitory orders against the company, seeking recovery of approximately ₹10 crore. Challenging these orders, the firm approached the high court, arguing that the recovery process was hampering its operations, particularly in the production of critical defence components. Counsel for Tata Lockheed Martin contended that the EPFO had acted unilaterally, without issuing a prior notice or offering a hearing, in violation of provisions under the EPF Act. They informed the court that, despite being notified about the pending legal proceedings, the EPFO had already transferred over ₹4 crore from the company's accounts held in two private banks. "The EPFO went ahead with the recovery even after being informed that the matter is sub judice," the counsel told the court. They further alleged that EPFO officials coerced bank authorities into transferring the funds by threatening them with arrest. "We have video evidence to substantiate this claim," the counsel said. Arguing that the firm is a strategic defence manufacturer, the company sought the court's intervention to unfreeze its accounts, pointing out that it had already paid 40% of the amount mentioned in the prohibitory orders. In response, EPFO's counsel contended that the company was financially sound and should clear the dues before contesting the case. "We only instructed the banks to transfer the specified amounts while allowing continued operation of the accounts," the counsel said. The high court, while restraining the EPFO from taking any further coercive steps, posted the matter for further hearing on May 21.
Time of India
04-05-2025
- Business
- Time of India
Process review likely for firms surrendering EPFO exemption
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Economy The Ministry of Labour and Employment plans to review the process for the surrender or cancellation of the exempted status given to employers under the Employees' Provident Fund Organisation (EPFO) to protect workers' employing workers above a certain threshold can seek exemption and manage provident fund contributions in-house under the EPFO's watch. Employers surrendering their exempted status would come under the EPFO, which would then manage the PF money of their new rules, while trying to speed up the process, would impose greater accountability on employers that surrender their exemption, according to the draft minutes of a February meeting of EPFO's central board of members of the central board of trustees have complained about issues such as inclusion of illegal migrants and other fraudulent practices, unavailability of data and employers failing to take accountability that delay the process of surrender or cancellation of the exempted status, impacting subscribers, as per the draft minutes, which ET has seen.A committee will be set up to look into the necessary changes needed to procedures governing the surrender and cancellation to ensure the process is transparent with a minimum scope of any fraudulent revamped standard operating procedures will also work towards fast-tracking the process so that applications are processed in a time-bound manner without a lag. This will help the EPFO get more and employment minister Mansukh Mandaviya, who is the chairman of the central board of trustees, in its last meeting held in February directed the retirement fund body to constitute a committee to review the SOPs and to give recommendations for consideration of the executive committee and the board, according to draft minutes of the 237th meeting of the that wish to manage the provident fund corpus of their employees need to seek exemption under Section 17 of the EPF Act, enabling them to manage their own PF trusts without making statutory such exempted establishments are statutorily mandated to provide benefits that are at least on par with those provided by the EPFO to subscribers and comply with the notified conditions of exemption as outlined in the data show India had 1,002 exempted establishments as of March 31, 2023, managing a corpus of ₹352,000 crore belonging to 3.12 million the last two years (2023 and 2024), 27 establishments surrendered their exemption, adding about 30,000 employees and ₹1,689 crore to EPFO's funds. In FY24, 17 establishments applied for surrender against 14 in 2022-23 and three in 2021-22. Another 15 surrender and 14 cancellation cases were proposed for consideration in the February establishments can approach the EPFO to give up their exempt status.
Mint
02-05-2025
- Business
- Mint
EPFOs scheme more beneficial for construction workers: Regional provident fund commissioner
New Delhi, May 2 (PTI) Retirement fund body EPFO's provident fund scheme under the EPF Act provides better protection to construction workers compared to the benefits available under the framework of building and other construction workers (BOCW), a regional provident fund commissioner has ruled, clarifying ambiguities between the two legislations. The clarification order by regional provident fund commissioner (RPFC), Kochi Uttam Prakash, which would have significant implications for labour welfare across India, came after the Kerala High Court issued a directive to resolve a long-standing conflict between two major national legislations governing the social security of construction workforce. While disposing of a writ petition filed by Veegaland Homes Pvt. Ltd., a real estate developer, the court directed the RPFC, Kochi, to determine which law provides more beneficial coverage for construction workers -- the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (EPF Act) or the Building and Other Construction Workers (BOCW) Act, 1996. After evaluating the two welfare frameworks, the RPFC concluded that the EPF scheme provides superior protection for construction workers compared to the BOCW framework. The order outlined key advantages including lifetime pension coverage under the Employees' Pension Scheme (EPS), substantial death and disability benefits via the Employees' Deposit-Linked Insurance Scheme (EDLI), portability of benefits across states and employers structured, long-term savings with higher returns and a technology driven access to services and grievance redressal. In contrast, BOCW welfare boards, despite collecting substantial welfare cess, have challenges of inefficiency, low coverage, and underutilisation of funds and poor access to registration by design, the RPFC order said. Workers frequently struggle to access even basic entitlements under this scheme, it noted. The petitioner in the Kerala High Court had argued that employers were being subjected to an unfair dual compliance burden under both central and state welfare regimes. While the EPF Act is administered nationally by the EPFO, the BOCW Act is enforced by state-level welfare boards, often with considerable variation in benefit delivery across states. As India continues to rely on its informal workforce to build its infrastructure and cities, the Kerala High Court-led resolution could serve as a cornerstone for a more inclusive, effective, and future-ready labour protection framework, opined an expert. By prioritising structured, portable, and enforceable benefits, the RPFC order reaffirms the constitutional promise of social justice and sets a powerful precedent for integrating the informal workforce into the mainstream of social security, the expert added. First Published: 2 May 2025, 04:03 PM IST
Time of India
02-05-2025
- Business
- Time of India
EPFO's scheme more beneficial for construction workers: Regional provident fund commissioner
Retirement fund body EPFO 's provident fund scheme under the EPF Act provides better protection to construction workers compared to the benefits available under the framework of building and other construction workers (BOCW), a regional provident fund commissioner has ruled, clarifying ambiguities between the two legislations. The clarification order by regional provident fund commissioner (RPFC), Kochi Uttam Prakash, which would have significant implications for labour welfare across India, came after the Kerala High Court issued a directive to resolve a long-standing conflict between two major national legislations governing the social security of construction workforce. #Pahalgam Terrorist Attack India's Rafale-M deal may turn up the heat on Pakistan China's support for Pakistan may be all talk, no action India brings grounded choppers back in action amid LoC tensions While disposing of a writ petition filed by Veegaland Homes Pvt. Ltd., a real estate developer, the court directed the RPFC, Kochi, to determine which law provides more beneficial coverage for construction workers -- the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (EPF Act) or the Building and Other Construction Workers (BOCW) Act, 1996. After evaluating the two welfare frameworks, the RPFC concluded that the EPF scheme provides superior protection for construction workers compared to the BOCW framework. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Glicemia alta? Coloque isso na água antes de dormir e veja o que acontece no outro dia. Saúde Melhor Idade Leia mais Undo The order outlined key advantages including lifetime pension coverage under the Employees' Pension Scheme (EPS), substantial death and disability benefits via the Employees' Deposit-Linked Insurance Scheme (EDLI), portability of benefits across states and employers structured, long-term savings with higher returns and a technology driven access to services and grievance redressal. In contrast, BOCW welfare boards, despite collecting substantial welfare cess, have challenges of inefficiency, low coverage, and underutilisation of funds and poor access to registration by design, the RPFC order said. Live Events Workers frequently struggle to access even basic entitlements under this scheme, it noted. The petitioner in the Kerala High Court had argued that employers were being subjected to an unfair dual compliance burden under both central and state welfare regimes. While the EPF Act is administered nationally by the EPFO, the BOCW Act is enforced by state-level welfare boards, often with considerable variation in benefit delivery across states. As India continues to rely on its informal workforce to build its infrastructure and cities, the Kerala High Court-led resolution could serve as a cornerstone for a more inclusive, effective, and future-ready labour protection framework, opined an expert. By prioritising structured, portable, and enforceable benefits, the RPFC order reaffirms the constitutional promise of social justice and sets a powerful precedent for integrating the informal workforce into the mainstream of social security, the expert added.
