The Central Government has revised the Employees’ Deposit-Linked Insurance (EDLI) Scheme to increase the monetary benefits to the claimants. On death of an employee, claimants are eligible up to 7 lakhs of assurance benefit.
The EDLI (Amendment) Scheme is effective from 28 April 2021 and the first proviso (assurance benefit shall not be less than two lakh and fifty thousand rupees) is retrospectively effective from 15 February 2020 for a period of 3 years.
As per the EDLI (Amendment) Scheme, 2021 the above-mentioned provisions to be read as:
Paragraph 22(3) -
On the death of an employee, who is a member of the Fund or of a provident fund exempted under Section 17 of the Act, as the case may be, and was in employment for a continuous period of twelve months, preceding the month in which he died, the persons entitled to receive the provident fund accumulations of the deceased shall, in addition to such accumulations to be paid an amount, equal to:-
(I) The average monthly wages drawn subject to a maximum of fifteen thousand rupees, during the twelve months preceding the month in which he died, multiplied by thirty five times plus fifty percent of the average balance in the account of the deceased in the fund or of a provident fund exempted under section 17 of the Act or under paragraph 27 or 27 A of the Employees’ Provident Funds Scheme, 1952, as the case may be, during the preceding twelve months subject to a ceiling of one lakh and seventy-five thousand rupees:
Provided that the assurance benefit shall not be less than two lakh and fifty thousand rupees: Provided further that the assurance benefit shall not exceed seven lakh rupees:
(The amount of benefit under sub-paragraph (I),
Whichever is higher.
The Central Provident Fund Commissioner (or Additional Central Provident Commissioner (Head Quarters) or Additional Central Provident Fund Commissioner) may by order and subject to such conditions as may be specified in the order exempt from the operation of all or any of the provisions of this Scheme any class of employees to whom this Scheme applies, on receipt of an application therefor, in such form as the Commissioner may specify:
Paragraph 29 - Punishments for failure to submit returns etc.
If any person –
- Deducts or attempts to deduct from the wages or other remuneration of a member the whole or any part of the employer’s contribution, or,
- Fails or refuses to submit any return, statement or other documents required by this Scheme or submits a false return, statement or other documents, or makes a false declaration, or
- Obstructs any Inspector or other official appointed under the Act or this Scheme in the discharge of his duties or fails to produce any record for inspection by such Inspector or other official, or
- Is guilty of contravention of or non-compliance with any other requirements of this Scheme,
He shall be punishable with imprisonment which may extend to one year or with find which may extend to twenty-five thousand rupees, or with both.
SOP for EPF Joint Declaration processing
14 Sep, 2023EPFO has released a circular directing its personnel that the processing of joint declaration of member profile update may be taken in offline mode as well. The other instructions should be strictly adhered to as per the SOP.
Amendment to the Employees Provident Funds Scheme, 1952
01 Sep, 2023The Ministry of Labour and Employment has notified the amendment in the Employees’ Provident Funds Scheme, 1952.
Circular on Standard Operating Procedure for Joint Declarations under EPFO
23 Aug, 2023The EPFO has further prescribed the standard operating procedure (SOP) superseding earlier SOP guidelines, for filing joint declarations.
Standard Operating Procedure under EPFO
31 Jul, 2023EPFO has released a circular prescribing the standard operating procedure (SOP) for inspection of establishments.
Declaration of PF Interest rate FY 22-23
24 Jun, 2023The Ministry of Labour and Employment has approved for crediting interest at the rate of 8.15% on EPF accumulation for the financial year 2022-23 to the account of each member of the EPF Scheme.
EPF procedure to claim higher pension
14 Jun, 2023EPFO have issued guidelines to the pensioners who are eligible to claim higher pension.
EPFO Circular on Scrutiny of Application for Joint Option
02 Jun, 2023EPFO has issued a circular directing all Zonal offices to monitor and scrutinize all application within twenty days of the receipts.
Circular on Joint Request under the EPF Scheme, 1952
02 Jun, 2023EPFO has issued a circular directing the existing members paying more than higher wages to submit their joint request and undertaking during the time of final settlement.
EPFO guidelines to calculate pension on higher wages
01 Jun, 2023EPFO through its circular has issued guidelines to calculate the pension on higher wages.
EPFO circular on Joint Options calculation of dues
EPFO circular on higher pension contribution
04 May, 2023The EPFO has released its circular (pursuant to the Central Government notification) regarding the higher pension contribution rate for Employees' and the administrative charges to be borne by the Employers.
EPFO circular on Pension Scheme enforcement under Social Security Code
04 May, 2023The EPFO has released its circular regarding the provisions of Employees' Pension Schemes under the Code on Social Security, 2020 that comes into effect.
EPFO guidelines to apply for validation of option/joint option
03 May, 2023In order to make the corrections in the application for validation of option/joint option, EPFO has provided a separate button under the title Delete Application in the system for enabling correction wherever required.
EPFO extends date for filing Applications regarding pension on Higher Wages
02 May, 2023Through a press release EPFO has extended the timeline for filing applications till 26 June 2023.
EPFO Application for Validation of Application Forms & Joint Option Forms
23 Apr, 2023EPFO has deployed an online facility for receiving the application forms and joint option forms received from employers, till 03 May 2023.
Extension for mandatory seeding of Aadhaar with UAN
18 Apr, 2023The EPFO has extended the date for seeding of Aadhaar to 31 March 2024 for certain class of establishments and for north eastern regions.
EPFO instructions to comply Apex Court Order
20 Feb, 2023EPFO has issued a circular with instructions to comply with the orders of Hon'ble Supreme Court judgment on the Pension scheme.
Re-examination of cases of pension on Higher Wages
25 Jan, 2023The EPFO has released a circular to all its concerned authorities, directing re-examination of cases of pension on higher wages, of employees who had retired upto 01 September 2014 who without exercising any option under Para 11(3) of pre-amended EPS'95. This is in light of directions contained in Para 44(ix) read with Para 44(v) and (vi) of Hon'ble Supreme Court judgement dt. 04.11.2022 in the matter of Special Leave Petition (C) No. 8658-8659 of 2019.
EDLI circular for assurance benefits due
02 Jan, 2023EPFO has released a circular directing the concerned authorities to identify the EDLI claims settled where the minimum benefit may not have been paid for the intervening period and shall immediately release the balance benefits due, if any.
EPFO instructs to implement EPS judgment
29 Dec, 2022EPFO releases instructions for the implementation of Supreme Court judgment on the Employees' Pension Scheme.
Unified Portal for Principal Employers to check EPF Compliances
28 Dec, 2022EPFO has released an advisory to all the principal Employers requiring them to login and regularly check the EPF compliances in respect of their contractors and their contract workers through the unified portal launched by EPFO.
Correction of Member's Profile
07 Dec, 2022EPFO has released a circular clarifying the rules and procedures prescribed for making minor and major corrections in the Member's profile.
Supreme Court upholds Pension Amendment Scheme 2014
04 Nov, 2022The Hon’ble Supreme Court in its recent judgment (dated 04.11.2022 in Civil
Appeal No.8143-8144/2022 in the case of Employees Provident Fund Organization and Another Vs. Sunil Kumar B and others and other connected matters) upheld the amendment made in the year 2014.
Admissibility of assurance benefits payable in lieu of EDLI Scheme
18 Oct, 2022EPFO is in receipt of certain complaints and references made to it regarding some offices rejecting the claims on various reasons and grounds that are not in alignment with the EDLI Scheme provisions. In the interest of claimants, EPFO has released a circular to all its Zonal and Regional offices advising them to settle the claims strictly in accordance with the provisions.
EPFO issues Interest Rate for Specified Funds
13 Oct, 2022The Employees' Provident Fund Organisation has issued a resolution for interest rate at 7.1% for certain specific funds with effect from October 1st, 2022 till December 31st 2022.
Determination of Eligible Service for Settlement of Pension Claims
17 Aug, 2022The EPFO has issued a clarification for the determination of eligible service for the settlement of pension claims related to workers of seasonal factories or establishments.
Standard Operating Procedure to settle death claims
03 Aug, 2022EPFO has published a notification on Standard Operating Procedure (SOP) to settle claims in cases of death due to Industrial Accident.
Enhancement of Minimum Pension under Employees’ Pension Scheme (EPS), 1995
01 Aug, 2022The Ministry of Labour and Employment has released a press release with respect to enhancement in minimum pension of Rs.1000 per month to the pensioners under the Employees' Pension Scheme (EPS) by providing additional budgetary support.
EPFO clarifies student-trainees status
27 Jul, 2022EPFO has provided clarification on status of student-trainees of educational/technical institute engaged in relevant industries.
EPFO to award establishment that files E-Nomination
22 Jul, 2022The EPFO has decided to award one establishment from each region (north, south, east,west and NER) who will complete highest number of filing of e-nomination by 31 March 2023.
PF rate of interest for the year 2021-22
03 Jun, 2022The Ministry of Labour and Employment has notified the concerned authorities to credit the interest @ 8.10% for the year 2021-22 to the members of EPF scheme.
EPFO clarification on final EPF withdrawal for International Workers
27 Apr, 2022EPFO has notified clarification regarding the EPF final withdrawal for international workers from countries not having a Social Security Agreement with India (non-SSA countries).
EPF Compliance for contract employees
27 Apr, 2022EPFO has circulated letter giving detailed instructions to its field officers for adopting a pro-active approach in compliance with the provisions of the EPF Scheme in respect of the contractors engaged by the principal employer.
TDS on EPF contribution exceeding specified limit
05 Apr, 2022EPFO has notified about the calculation and deduction of taxable interest relating to PF contribution that exceeds 2.5 Lakhs.
EPFO draws action plan for Swachhata Pakhwada, 2022
23 Mar, 2022EPFO has issued a circular for action Plan to create awareness for Staff, Establishment and Members of EPFO on the occasion of Swachhata Pakhwada, 2022.
Clarification on NEEM Trainees as the employees under PF Act
24 Feb, 2022The EPFO and Ministry of Labour & Employment has issued a circular clarifying that the National Employability Enhancement Mission (NEEM) trainees are employees under the Employees' Provident Fund and Miscellaneous Provisions Act, 1952.
PF rate of interest declaration FY 2020-21
02 Nov, 2021The Ministry of Labour and Employment, has approved for crediting interest at the rate of 8.50% on EPF accumulation for the financial year 2020-21 to the account of each member of the EPF Scheme.
Employers have to register their Contractors on PF Portal
22 Sep, 2021The PF Regional Office has emailed the employers on 22 Sep 2021, instructing them to immediately register all their existing contractors and sub contractors engaged for manpower, civil and other works; and to ensure that all upcoming and existing contracts awarded are mandatorily registered in the portal.
Aadhar Seeding time extended to 3 class of establishments
11 Sep, 2021The EPFO has extended the time granted for Aadhar seeding of UAN of EPF members to 01 October 2021 and 31 December 20201 subject to certain conditions.
EPFO relieves employers for Dues deposit delay, ECR filing for May 2021
31 Aug, 2021EPFO has directed its field offices not to presume Employers default with respect to the delay in filing of ECRs for the month of May, 2021 which are statutorily due on or before 15th June 2021 on account of non-seeding of Aadhar with the UANs and to appreciate each case in its own facts under section 14B of the PF Act.
Taxable Income on PF contributions
31 Aug, 2021The CBDT through the Income-tax (25th Amendment) Rules, 2021 has provided the calculation of taxable interest relating to contribution in a provident fund or recognised provided fund, exceeding specified limit. This Amendment will come into force from 01 April 2022.
EPFO Notifies Employer Guidelines For Rectification Of Details For KYC Update Of Members
26 Aug, 2021In case of employers filing incorrect details of their member employees with EPFO, such employees find it difficult to fill in their KYC online.
In order to rectify the incorrect filing, EPFO has provided a detailed process to the employers that can be completed online and offline based the type and number of errors along with submission of certain supporting documents.
Filing of Pension E-nominations under Bharat Ka Amrit Mahotasav (BKAM)
23 Aug, 2021EPFO has directed all its field officers to maximize the filing of Pension e-nominations of its members who do not have ready access to computer, or mobile facility to complete their filing.
Filing of E-nomination under Bharat Ka Amrut Mahotasav (BKAM)
30 Jul, 2021The EPFO has circulated a letter directing all its field offices to make all efforts maximizing the number of E-nominations filed on a weekly basis. A campaign may also be launched for all EPF members to create awareness of the benefits of this online facility.
Aatmanirbhar Wage Subsidy Scheme via EPFO extended till 31 March 2022
28 Jun, 2021The Aatmanirbhar Bharat Rozgar Yojana (ABRY) scheme launched on 01 October 2020 has been extended till 31 March 2022. The Government has launched the ABRY scheme last year to incentivise employers for creating new employment and restoration of employment loss through EPFO.
EPF, Pension, EDLI security benefits to children of COVID victims
24 Jun, 2021EPFO has requested all employers to submit/forward the list of employees of their organisation who have lost their lives due to the COVID -19 pandemic disease in prescribed format to provide the applicable social security benefits to the surviving dependants.
Karnataka High Court orders emergent notice to UOI and EPFO on mandatory Aadhar seeding
17 Jun, 2021The Hon’ble High Court of Karnataka being convinced on the practical difficulties faced by the employers and employees for seeding the Aadhar details with EPFO. After hearing the petitioner’s submissions, it has issued an emergent notice to the respondents – Union of India & EPFO.
Aadhar seeding deferred by 3 months and will be effective from 01 September 2021
15 Jun, 2021The mandatory requirement of Aadhar seeding for filing ECR has been deferred by 3 months, with the effective date being 01 September 2021.
EPFO Message on mandatory Aadhar seeding of contributory members
01 Jun, 2021Employers shall seed the Aadhar numbers of PF contributing members and verify it with UANs to file the ECR with effect from 01 June 2021.
EPFO allows its members to avail second COVID 19 advance
31 May, 2021Under the EPF Scheme, the member employees can avail second non-refundable advance from their PF account.