In order to provide relief to workers amid Covid-19 pandemic, the Ministry of Labour and Employment has announced additional benefits for families of insured persons covered under the ESIC and EPFO's EDLI schemes.
Other trade unions also agree on the suggestion to define wages under the Code on Wages in such a way that the Employees' Provident Fund (EPF) is deducted on the entire gross pay of a worker covered under the social security
EPF Rules 2020: Out of a total workforce of 840 employees, Pawan Hans, a government-owned aviation company, had engaged 570 employees on a regular basis, while 270 employees were engaged on ‘contractual’ basis.
Where is EPF money invested: The Employees’ Provident Fund Organization (EPFO) invests in Exchange Traded Funds (ETFs) based on Nifty 50, Sensex, Central Public Sector Enterprises (CPSEs) and Bharat 22 Indices.
Employers cannot escape from the responsibility of depositing PF contributions of employees timely. Also, the employer can't be exonerated even when it deposits the contributions after a complaint of delay is already filed.
Provident Fund, Pension for Exempted Establishment: Is an employee of an exempted establishment entitled to higher pension based on his contribution towards Provident Fund, made on the actual salary, over and above the ceilin