Notice: Function is_search was called incorrectly. Conditional query tags do not work before the query is run. Before then, they always return false. Please see Debugging in WordPress for more information. (This message was added in version 3.1.0.) in /var/www/staging/nav_timebull/wp-includes/functions.php on line 6131

Notice: Function is_404 was called incorrectly. Conditional query tags do not work before the query is run. Before then, they always return false. Please see Debugging in WordPress for more information. (This message was added in version 3.1.0.) in /var/www/staging/nav_timebull/wp-includes/functions.php on line 6131
EPFO Rule: Increase in claim limit, higher return; Government has changed some rules – Times Bull

EPFO Rule: Increase in claim limit, higher return; Government has changed some rules

by

EPFO Rule: Recently, the Central Board of Trustees (CBT) of EPFO convened for the 236th occasion led by Union Minister Mansukh Mandaviya. In the meeting, the government approved multiple modifications to enhance the advantages for EPFO members and streamline the procedure. The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) has sanctioned the redemption policy for Exchange Traded Funds (ETFs) to enhance earnings for its members.

Reports indicate that the CBT has authorized reinvesting 50 percent of the funds obtained from ETFs into Central Public Sector Enterprises (CPSEs) and the Bharat 22 Index. Under the new policy, it is required to maintain the fund for a minimum of five years. Additional reports indicated that the leftover funds will be allocated to various financial instruments, including government securities and corporate bonds.

CBT has sanctioned the guidelines for investment in units

The Union Ministry of Labor and Employment has provided information indicating that the CBT has sanctioned the guidelines for investment in units released by Infrastructure Investment Trusts (InvITs) / Real Estate Investment Trusts (REITs) that are sponsored by public sector enterprises overseen by the Securities and Exchange Board of India (SEBI). The board additionally sanctioned a significant modification in the EPF Scheme 1952.

Ministry stated that this will offer financial advantages to the members

According to current regulations, interest for claims resolved by the 24th of each month is paid only up to the conclusion of the prior month. Interest will now be paid to the member until the date of settlement. The ministry stated that this will offer financial advantages to the members and decrease grievances. These government decisions will aid 7 crore EPFO members nationwide. CBT announced that EPFO has sped up its operations by resolving 3.83 crore claims valued at over Rs 1.57 lakh crore in the ongoing financial year.

Share.