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In a bid to provide better services to employers, employees and pensioners as well as to bring about ease of compliance and governance, retirement fund body Employees’ Provident Fund Organisation (EPFO) has taken various initiatives recently, including the launch of Pensioner’s Portal on its website and introduction of new facilities for UAN- Aadhaar linking for the convenience of its members. We are taking a look at some of such 1. View Pension Passbook Service for pensioners EPFO, which is providing lots of e-services to its stakeholders, has recently introduced a new service for pensioners via the Umang App. Any pensioner willing to view his pension passbook needs to click the “View Passbook” option and enter the PPO Number and his DoB (Date of Birth). An OTP will be sent to the pen

Payment of Wages Act, 1936 The Payment of Wages Act, 1936 regulates payment of wages to employees (direct and indirect). The act is intended to be a remedy against unauthorized deductions made by employer and/or unjustified delay in payment of wages. Regular Pay Payment should be made before the 7th day of a month where the number of workers is less than 1000 and 10th day otherwise. The wage-period shall not exceed 1 month. The Act is applicable only to employees drawing wages not exceeding Rs. 6500 a month. [20] Mode of Payment Under the act, payment has to be made in currency notes or coins. Cheque payment or crediting to bank account is allowed with consent in writing by the employee. (Section 6) Deduction from Wages Employer is allowed to effect only authorized

BSNL is planning to launch 4G services in Pan-India soon and Govt of India has once again stressed on the fact that state-run BSNL is crucial for Digital India’s success, despite being in severe loss due to the presence of other private telcos. BSNL 4G SIM Sales Begins :- BSNL user can visit any mobile store or BSNL office and get a new USIM for 4G services, by paying Rs 20. This new USIM would be able to catch BSNL’s new 4G network and elevate the user from 3G to 4G. Note here, that in 2009, when BSNL first launched 3G services, their new SIM was available for Rs 300. Now, the cost is just Rs 20. This new USIM is mandatory for accessing BSNL’s new 4G services.  BSNL’s much awaited 4G services would be rolled out pretty soon, all over India. BSNL has already said that 10,000 4G eNode-

Paytm can be touted as the pioneer for introducing digital payment in India and ever since its inception in 2010, the e-payment giant has been setting a benchmark for other competitors in the same market. The Vijay Shekhar founded company has now launched a new feature for its users. Paytm has unified its Bank Transfers for its customers with new ‘My Payments’ feature. The new feature will enable Paytm users to make recurring, high-value payment and other monthly expenses in an instant. Using the Paytm app, Bank Transfers can be done from any Bank Account to any Bank Account, making it easier for customers to make payments at zero per cent charge. Even non-KYC Paytm users can avail this facility. Deepak Abbot, Senior Vice President – Paytm said, “Our customers make regular recurring pa

Andhra Bank MCLR Rate Current MCLR rate of Andhra Bank ranges from 7.85% to 8.40% varying by reset frequency of the loan. Andhra Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenor. Compare Rates of Other Banks Tenure wise MCLR Andhra Bank Rate Today Overnight 7.85% 1 Month 7.90% 3 Month 8.10% 6 Month 8.25% 1 Year 8.40% Andhra Bank Base Rate 9.55% Base rate to be aligned to MCLR from 1st April 2018 - RBI in its monetary policy on 7th Feb 2018 has mandated that banks’ base rates be linked to MCLR rates. This will benefit Andhra Bank home loan and loan against property borrowers whose loans are linked to base rate. Any increase or decrease in A

An Indian passport is valid for only 10 years (shorter in some cases). When the passport is about to expire, most people think they need to renew passport. However, they actually need to apply for reissue of passport. Let me explain the difference between passport renewal and passport reissue – Passport Renewal to Extend Validity This is only applicable for short validity passports. If your passport has been issued for a short period like 1 to 5 years, and you need to extend the validity, you can apply for renewal. In case of renewal, changes will be made to the existing passport and the passport number will remain the same. Passport Reissue When you apply for passport reissue, you receive a new booklet with a new passport number. You can apply for reissue in the following cases

Unlike the popular perception that the investment in a government-conceived and promoted national pension system (NPS) is locked until the subscriber makes an exit from the scheme, there are some exceptions made from time to time to allow the subscribers to withdraw a part of the accumulated funds. Currently, the withdrawal limit is 25%, and can be made for a host of reasons that include critical illness, marriage of children and the purchase/construction of house. Recently, the pension fund regulator PFRDA allowed the NPS (National Pension System) subscribers to withdraw the money for purposes that include higher education and investment in new business. NPS is government's flagship social security programme. NPS Withdrawals. Ten Things To know 1. NPS withdrawal is allowed but

Pension scheme gives an opportunity to invest and accumulate savings and get lump sum amount as regular income through annuity plan on retirement. Government of India has started the National Pension System. National Pension System (NPS) was launched on 1st January, 2004 with the objective of providing retirement income to all the citizens. NPS aims to institute pension reforms and to inculcate the habit of saving for retirement amongst the citizens. NPS was introduced for the new government recruits (except armed forces). With effect from 1st May, 2009, NPS has been provided for all citizens of the country including the unorganised sector workers on voluntary basis. Additionally, to encourage people from the unorganised sector to voluntarily save for their retirement the Centr...

Employees' Provident Fund (EPF) deposits are deducted every month from the salary of working people. Employees' Provident Fund is a mandatory contribution from the salary of an individual that every company which has more than 20 employees has to deduct. EPF accounts are overseen by the Employees' Provident Fund Organisation (EPFO), which is under the Ministry of Labour & Employment. EPF contributions are shared equally between employees and employer. Thus, both employee and employer contribute equally towards EPF, which is thus shown as a deduction in the cost-to-company or salary structure of an employee. Here are 10 things to know about Employees' Provident Fund (EPF) contributions: 1) An employee contributes 12 per cent of his salary towards EPF while an employer pays 12 per

A secret note, sent by Employee Provident Fund Organisation (EPFO), has acknowledged that hackers have made off with data from an Aadhaar seeding platform maintained by the Ministry of Electronics and Information Technology (MEITY) on behalf of the EPFO. The note, marked “Secret” and dated 23 March 2018, is a rare instance of an attack on a vulnerable state data cache becoming public knowledge. The vulnerability was detected in the Aadhaar-seeding platform provided by the Common Services Centre (CSC) E-governance Services Ltd, a special purpose vehicle of MEITY. EPFO is just one of many government departments that use this platform for Aadhaar-seeding various services. In February this year, the Unique Identification Authority of India (UIDAI) terminated its relationship with CSC, citi