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EPFO is reportedly planning to provide portable numbers to salaried individuals. The move might stem the trend of premature withdrawal which most people prefer over getting their accounts transferred while switching jobs.
Government Thursday slashed interest rate on deposits in Employees Provident Fund from 9.5 percent to 8.25 percent for 2011-12 affecting over 4.7 crore subscribers. This cut was proposed by the Finance Ministry and a notification was issued by the Labour Ministry, official sources said. The Employees’ Provident Fund Organisation (EPFO) had provided 9.5 percent interest rate to its subscribers for 2010-11 after it found Rs 1,731 crore surplus in its books of account.
Having considered the submissions made on behalf of the Appellant and the Respondent appearing in-person, we are of the view that the judgment and order of the High Court does not require any interference, particularly when the issue raised in this Appeal has already been decided by this Court in Civil Appeal No.1932 of 1982, wherein it was categorically held that the Coal Mines Provident Fund Commissioner is a public servant
RPFC Vs. The Hooghly Mills Co. Ltd. & Ors.(SC) – .The question which falls for consideration before this Court in this case is whether the employer of an establishment which is an ‘exempted establishment’ under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (hereinafter, ‘the Act’ ) is subject to the provisions of Section 14B of the said Act whereby in cases of default in the payment of contribution to the provident fund, proceedings for recovery of damages can be initiated against the employer of such an ‘exempted establishment’. The question was raised by the respondent before the High Court and both the Single Bench and the Division Bench of the High Court have recorded a finding in favour of the respondent and held that the respondent being an ‘exempted establishment’ cannot be subjected to the provisions of Section 14(B) of the Act.
In exercise of powers conferred under Section 6A of the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952, the Central Government formulated the Employees’ Pension Scheme, 1995. The Scheme provides pensionary benefits to the members upon superannuation/retirement. In addition, in case of death of member/member pensioner, the pensionary benefits are also given to widow and children/orphan/ nominee/dependent parents as per the provisions contained in the Scheme.
The Central Bureau of Investigation has arrested a Provident Fund Inspector of Guntur for demanding and accepting a bribe of Rs.7000/- from the complainant. The complainant, a Manager in Guntur based private firm has alleged that the Provident Fund Inspector, Guntur visited their firm on 24.10.11 and found all the registers & records in order. However, she demanded an illegal gratification of Rs.10,000/- from the complainant for not creating any problem and initially accepted an illegal gratification of Rs.3000/- as part payment from him.
L. N. Gadodia & Sons & ANR. Vs. Regional Provident Fund Commissioner (Supreme Court of India)- When two establishments are run by the same family under a common management with common work force and with financial integrity, they are expected to be treated as branches of one establishment for the purposes of the Provident Fund Act, the Supreme Court ruled last week.
The Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 is applicable to all employees working in such establishments which are employing 20 or more workers and is falling under any of the Schedule Heads or class of establishments notified by the Central Government and getting wages up to Rs. 6500/- per month without any reference of being skilled or unskilled. The Act is uniformly applicable all over India except in the State of Jammu & Kashmir.
Retirement fund manager EPFO will seek the legal opinion on implementation of the order of the MP High Court throughout the country under which employers and employees will be required to increase their contributions to the provident fund. ‘We will seek legal opinion and also the opinion of Ministry of Law and Justice Ministry, through Labour Ministry, on the MP High Court order throughout the country,’ Central Provident Fund Commissioner Samirendra Chatterjee said.
he EPFO has issued an inter-department clarification on May 23, 2011 indicating that splitting of minimum wages for the purposes of PF contributions is not permissible. This Clarification, which has been issued in view of the lack of a uniform approach followed by the PF authorities in different states, seems to be an attempt by the labour department to settle the ongoing ambiguity with respect to the calculation of provident fund contributions.
