Epfo

April 9, 2025 3:39 PM

EPFO launches Aadhaar-based face authentication for seamless UAN services

The Employees’ Provident Fund Organisation (EPFO), under the Ministry of Labour and Employment, launched a new digital facility that allows for the generation and activation of Universal Account Numbers (UAN) using Aadhaar-based Face Authentication Technology (FAT) through the UMANG mobile application. In an official statement issued on Wednesday, the EPFO said the move aims to simplify the UAN allotment process, enhance data accuracy, and reduce reliance on employers for initiating UAN gener...

April 3, 2025 4:14 PM

EPFO simplifies claim settlement process with two key reforms

In a significant move to enhance the Ease of Living for Employees’ Provident Fund (EPF) members and improve the Ease of Doing Business for employers, the Employees’ Provident Fund Organisation (EPFO) has introduced two major reforms in its claim settlement process. These changes aim to streamline operations and reduce claim rejections, the Ministry of Labour & Employment announced on Thursday. No More Requirement to Upload Cheque Leaf or Attested Bank Passbook EPFO has eliminated the n...

March 26, 2025 2:53 PM

EPFO to allow instant PF withdrawals via UPI, ATMs by mid-2025

The Employees’ Provident Fund Organisation (EPFO) is likely to introduce a major change that will allow its members to withdraw their provident fund (PF) instantly through UPI and ATMs by the end of May or early June 2025. With this update, employees will no longer have to go through long and time-consuming procedures to access their PF savings. The initiative is being implemented with the support of the Ministry of Labour and Employment and has received approval from the National Payments C...

March 20, 2025 4:23 PM

EPFO adds 17.89 lakh net members in January, shows over 11% growth

The Employees’ Provident Fund Organization (EPFO) reported a net addition of 17.89 lakh members in January, according to the provisional payroll data released on Thursday. This marks an increase of 11.48% compared to December 2024, reflecting improved employment conditions and rising awareness of social security benefits. The data also shows a year-on-year growth of 11.67% in net payroll additions compared to January 2024, indicating steady progress in employment generation. New Members Enro...

February 28, 2025 7:10 PM

EPFO retains interest rate on PF deposits at 8.25 per cent for 2024-25

Retirement fund body EPFO has decided to retain the interest rate on employees' provident fund deposits at 8.25 per cent for 2024-25 - the same as the previous year. The decision was taken by the EPFO's Central Board of Trustees at a meeting held on Friday, according to reliable sources. The Employees' Provident Fund Organisation had increased the interest rate on EPF for its 7 crore members to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23. The proposal will now be sent to the Mini...

February 25, 2025 11:15 PM

EPFO records 16.05 lakh net member additions in December 2024

The Employees’ Provident Fund Organization (EPFO) registered a net addition of 16.05 lakh members in December 2024, reflecting a steady rise in formal employment and growing awareness of employee benefits, according to the latest provisional payroll data released by the Ministry of Labour and Employment. The data highlights a 9.69 per cent increase in net payroll additions compared to November 2024. Year-on-year, the net payroll additions have grown by 2.74 per cent from December 2023, unders...

January 22, 2025 3:08 PM

EPFO added 14.63 lakh net members in November 2024 amid growing employment

The Employees' Provident Fund Organisation (EPFO) on Wednesday announced a net addition of 14.63 lakh members in November 2024, which represents an increase of 9.07 per cent over the corresponding figure for October. Further, the year-on-year analysis reveals a growth of 4.88 per cent in net member additions compared to November 2023, reflecting increased employment opportunities and heightened awareness of employee benefits, according to the official statement. EPFO enrolled around 8.74 lakh ...

November 16, 2024 2:41 PM

EPFO playing key role in providing social security, financial stability to millions: Minister Mandaviya

The Employees' Provident Fund Organisation (EPFO) has played a pivotal role in providing social security and financial stability to millions of members across the country, Union Minister for Labour and Employment, Dr Mansukh Mandaviya, has stressed. In his keynote address at an event in the national capital, Dr Mandaviya lauded the transformative journey of the EPFO, underscoring its critical role in managing a vast corpus of savings for its members and enhancing social security provisions acro...

November 8, 2024 7:06 PM

78 lakh EPS pensioners to benefit as new payment system completes pilot run

Union Minister of Labour and Employment, Dr. Mansukh Mandaviya, announced on Friday the successful completion of the pilot run for the new Centralised Pension Payments System (CPPS) under the Employees’ Pension Scheme (EPS) 1995. The CPPS is designed to enhance pension services for EPS members. The pilot, conducted on October 29-30, disbursed approximately Rs 11 crore in pension payments for October to over 49,000 EPS pensioners across the Jammu, Srinagar, and Karnal regions. According to th...

July 21, 2024 12:10 PM

EPFO reports record addition of 19.50 lakh members in May

The Employees’ Provident Fund Organisation (EPFO) added a record 19.50 lakh net members in May 2024, the highest since it began releasing payroll data in April 2018. This marks a 19.62% increase compared to May 2023. Out of the total new additions, 9.85 lakh were new members, reflecting a 10.96% increase from April 2024 and an 11.5% increase from May 2023. A significant portion of these new members, over 58%, belong to the 18-25 age group, highlighting the influx of young workers into the org...