- Increase in the number of EPFO members
- Organization claimed increase in employment
- New Delhi: EPF account is necessary for the employed people, but apart from withdrawing money from it, it can also be found out how many people are working in the organized sector. Status by EPFO i.e. Employees Provident Fund Organization (EPFO) According to the report released recently, the number of people joining the EPFO (NEW MEMBER TO EPFO) has increased in large numbers since September 2017. The number of EPFO members has increased by 28 per cent in 2018-19 and 2019-20. Its number of members increased from 61.12 lakhs in the financial year 2018-19 to 78.58 lakhs in 2019-20. EPFO claims that 62 lakh people have got new jobs till November this financial year.Corona Impact: Health insurance premium will be expensive, IRDAI changes rulesGives Excellent Interest EPFO – EPFO has given a tax free interest of 8.5% over the FD or any other scheme for the year 2019-20.
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Increase in the number of youth – In the financial year 2019-20, the total enrollment of customers aged 26 to 28, 29 to 35 and above 35 years has increased by more than 50% as compared to last year. This has been revealed in the study done by age. It has also come to light that since the online facilities have been provided, the contribution of youth in the activities of EPFO has increased.
The equation of per capita income will deteriorate after Covid-19, but the rich will have more impact: SBI
Claim settlement in 72 hours- In view of the Corona crisis, the Employees Provident Fund Organization (EPFO) has asked all its PF account holders who are delaying the process of withdrawal claims to automate claims processing in just 72 hours. Apply for withdrawal under the Corona Virus Epidemic Rule. That is, if a person wants to withdraw money from a PF account, then he will get a claim in just 3 working days
