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The Employees’ Provident Fund Organisation (EPFO) has relaxed several regulations to make life easier for Employees’ Provident Fund (EPF) members in May 2024. The changes include an extended facility of auto-settlement, multi-location claim settlement, faster death claims.
The Employees’ Provident Fund Organisation (EPFO) has introduced a software functionality allowing Provident Fund (PF) members to conveniently update and correct their profile information online.
After 70 companies were issued arrest warrants for failing to deposit employees provident fund (PF) contribution in the past one year, the authorities concerned have managed to recover Rs 6.16 crore from these defaulting units.
Starting April 1, the Employees’ Provident Fund Organization (EPFO) will introduce important changes. According to various media reports, with the new rule, when an individual changes jobs, their old Provident Fund (PF) balance will be automatically transferred to the new employer.