North Chennai EPFO gives pension payment orders to 52 June 2025 retirees
The objective of 'PRAYAAS', an initiative of the EPFO, is to hand over pension payment orders to the members of the Employees' Pension Scheme on the day of retirement. This will help streamline the process and pension disbursement will also occur on time, the release said.
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The Hindu
a day ago
- The Hindu
What are the pros and cons of the Employment-Linked Incentive scheme?
The story so far:The Union Cabinet approved an Employment-Linked Incentive (ELI) scheme with an outlay of ₹99,446 crore. The scheme, a promise made in the 2024-25 budget, is aimed at creating employment, particularly in the manufacturing sector. It is a part of the Prime Minister's package of five schemes to facilitate employment such as internships with big companies and measures to improve skills of the youth. What are the key provisions? The ELI scheme, according to the Labour Ministry, incentivises creation of more than 3.5 crore jobs over a period of two years. The Centre expects 1.92 crore newly employed people to get the benefit of the scheme, which comes into operation from August 1, 2025 and ends on July 31, 2027. The Employees Provident Fund Organisation (EPFO) will implement the scheme. Newly recruited employees, with salaries up to ₹1 lakh, will get a one-month EPF wage up to ₹15,000 in two installments. The EPFO will pay the first instalment after six months of service and the second instalment after 12 months of service — both as direct bank transfer. A portion of the incentive will be kept in 'a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date'. The establishments, registered with EPFO, will get up to ₹3,000 per month, for two years, 'for each additional employee with sustained employment for at least six months'. The Centre adds that for the manufacturing sector, incentives will be extended to third and fourth years as well. How have employers responded? Employers have welcomed the scheme, with caveats. Former Federation of Indian Chambers of Commerce and Industry president Subhrakant Panda said that ELI is a 'laudable initiative'. It will drive employment, especially in the manufacturing sector, through an innovative approach which combines support for those joining the workforce for the first time with incentives for creating sustained employment, he added. CII's office-bearer Sachit Jain said the ELI scheme has the potential to reshape India's employment landscape and boost labour-intensive sectors. The Sangh Parivar-backed Laghu Udyog Bharati pointed out that the focus of the scheme must be directed towards micro, small manufacturing units and allied service sectors. 'We also urge that units with less than 20 employees, which form the majority, are not left behind. These units must be included under the scheme benefits,' it demanded in a statement. The founder of the Association of Indian Entrepreneurs, K.E. Raghunathan, told The Hindu that the scheme must be repositioned under the Ministry of Micro, Small and Medium Enterprises, with a structured reimbursement model based on actual payroll data addition. 'For every new employee a specific percentage of the salary must be paid to the employee and employer as a subsidy directly on a monthly basis, as long as the employee remains in service. Make it simple and ensure a wider coverage,' he suggested. What about trade unions? Barring the RSS-backed Bharatiya Mazdoor Sangh (BMS), all 10 central trade unions have questioned the scheme. The BMS has welcomed the ELI scheme with a rider that the government must expand the social security base and improve the quality of employment. Other unions fear that workers' money will be used to incentivise employers. Citing the fate of the Production-Linked Incentive of 2020, wherein certain sectors were given sops by the Centre to create jobs, but the money had gone into the pockets of big companies. They argued that the EPFO had to conduct a probe and ban certain companies after finding the scheme was misused for employers' benefits. What are some of the concerns? There are concerns on the role of the EPFO in the scheme. As EPFO is only a custodian of savings of employees, unions are asking how it can act as an agency to implement the scheme. As the EPFO has no government funds in its books, there are doubts over the reimbursement of the money which could go to the employer or a newly recruited employee. As EPFO is not an agency with the responsibility of creating jobs, there are demands to create a separate agency to implement the scheme. Industry experts are also questioning why the government is not addressing the slowdown in the economy, and not taking steps to improve the purchasing power of workers.
India.com
2 days ago
- India.com
EPFO Website Down? How To Check PF Balance Via SMS, WhatsApp Or Missed Call In Seconds; Know Withdrawal Eligibility And Rules
photoDetails english 2926945 Updated:Jul 05, 2025, 11:04 AM IST Provident Fund (PF) 1 / 9 The Provident Fund (PF) is built through monthly contributions from both the employee and the employer. Being a government-backed long-term savings scheme, it earns annual interest that compounds over time into a significant corpus. It also acts as a financial safety net during emergencies like illness or job loss. PF Balance Check: No Need for Website or App 2 / 9 You no longer need to open the EPFO website or download any app to check your PF balance. These alternate methods are simple, quick, and completely free, making them ideal during server downtime. PF Balance Check: SMS Service 3 / 9 To check your PF balance via SMS, send a message in the format 'EPFOHO UAN HIN' from your registered mobile number to 7738299899. Here, 'UAN' is your Universal Account Number, and 'HIN' indicates the language. The SMS service supports over 10 Indian languages including Hindi, English, Punjabi, Gujarati, Marathi, Tamil, Telugu, Kannada, Malayalam, and Bengali. Choose your preferred language by changing the last three letters in the SMS code. PF Balance Check: Missed Call Service 4 / 9 Dial a missed call to 9966044425 from your registered mobile number. This is the simplest way to know your PF balance instantly. Make sure your UAN is activated and linked to your phone number. PF Balance Check: Instant SMS Reply 5 / 9 After giving the missed call, your call will disconnect automatically, and within seconds, you'll receive an SMS with your current PF balance and account details—no need for internet or manual inputs. PF Balance Check: WhatsApp Service 6 / 9 You can now check your PF balance via WhatsApp. Save your regional EPFO office's WhatsApp number and send a message like 'Hi' or 'PF Balance.' You'll receive your balance details through a chatbot response. To get the correct WhatsApp number for your regional EPFO office, visit: Choose your location and save the number to start checking via WhatsApp. PF Withdrawal Eligibility 7 / 9 To access EPFO services like SMS, missed call, or WhatsApp for checking PF balance, certain prerequisites must be met. First, your Universal Account Number (UAN) must be activated. Adding further, the mobile number linked to your UAN should be active and in working condition, as all notifications and balance details are sent to this number. It's also essential to link your UAN with KYC documents such as your Aadhaar, PAN card, bank account number, and IFSC code. These steps ensure seamless access to your PF account and enable hassle-free verification across all platforms. PF Withdrawal Limits and Rules 8 / 9 Employed members are allowed to withdraw up to 90% of their PF contributions, but the exact withdrawal limit depends on the reason for withdrawal and the number of years of service completed. For instance, partial withdrawals are permitted for specific purposes such as constructing a house, covering expenses during a medical emergency, or meeting costs related to education or marriage. Each of these situations has its own eligibility criteria and service duration requirements. Important Reminder 9 / 9 Ensure your mobile number is registered with EPFO and your UAN is activated. Without this, SMS, missed call, or WhatsApp services won't work. Contact your company's HR department for help with activation or registration.
United News of India
2 days ago
- United News of India
EPFO announces incentives for first-time employees, employers under ELI scheme
Shimla, July 4 (UNI) The Employees Provident Fund Organization (EPFO) has launched a major employment-linked incentive (ELI) scheme under the union government, offering financial benefits to both first-time employees and employers. Speaking at a press conference in Shimla, Regional Commissioner Rakesh Kumar said that employees registering with EPFO for the first time can receive up to Rs. 15,000 in two installments. This applies to employees earning up to Rs1 lakh per month. The first installment is payable after six months of service, and the second after one year, following the completion of a financial literacy programme. A portion of the incentive will be deposited in a savings account, to be withdrawn later. The scheme aims to benefit around 1.92 crore employees and will remain active till 2029 for the construction sector and for two years for other sectors. Employers too will get incentives of up to Rs 3,000 per month for hiring new employees with a minimum six-month tenure. For manufacturing sector employers, the benefit extends up to four years. Establishments must hire at least two or five new employees, depending on workforce size. Kumar urged all EPF members to activate their UAN and update KYC to avail of the benefits. UNI ML RN
