This is a good move as dormant accounts after 36 months will yield interest and people will be interested to maintain the EPF balance in their respective accounts instead of money being blocked and gets depreciated. The government can also utilize the funds for noble causes and development.
But, I have a small point. The government considering EPF as a social security does not seem to be practical as there are several establishments in the country which do not fall under the PF act. The employees of those entities do not have any social security as such.
However, also considering the fact that many people lose their jobs due to poor company performance and depend manly on small savings and EPF withdrawal benefits, I would still reiterate that the employer's portion with accrued interest should be allowed to be withdrawn if the account remains dormant for more than six months.
Alternatively, the interest earned on the employer's portion can be offered as a monthly income to unemployed citizens.
Need to have a relook into these aspects and reconsider the decision of partial EPF withdrawal. more
But, I have a small point. The government considering EPF as a social security does not seem to be practical as there are several establishments in the country which do not fall under the PF act. The employees of those entities do not have any social security as such.
However, also considering the fact that many people lose their jobs due to poor company performance and depend manly on small savings and EPF withdrawal benefits, I would still reiterate that the employer's portion with accrued interest should be allowed to be withdrawn if the account remains dormant for more than six months.
Alternatively, the interest earned on the employer's portion can be offered as a monthly income to unemployed citizens.
Need to have a relook into these aspects and reconsider the decision of partial EPF withdrawal. more
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B mb kkjho one miuuükky to mततà¥à¤¯à¤¾ स तठð
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ððð वश सतत सतà¥à¤¤à¤¾à¤§à¥à¤¶à¥à¤ सतत तथा तयार à¤à¤¦à¤° मà¥à¤ हà¥à¥¤ ðððððð Sent from my Sony Xperia⢠smartphone ---- Rajesh Iyer wrote ---- > more
Mar 31
M mb b bkjkkbuHmm bob o b bkkkkkbon m lkkiubbjkbbbjkmb. Nbkkkuu coujo vnokgh mb the uuü Sent from my Sony Xperia⢠smartphmmkloklbuuiÃkkuhu bro one ---- Rajesh Iyer wrote ---- > more
Mar 31
Bhi Kabhi nahi ï Ķkuâ²ð±ððð»ð Sent from my Sony Xperia⢠smartphone ---- Rajesh Iyer wrote ---- > more
Mar 31
Recently we found that for favouring an Educational institution in TN. RPFC was taken to task by CBI.As Sugirtha kumar suggestions, the EPFO should honestly test themselves that most of the Educational Establishments does not provide the facility to the faculty even though they fall under the purview of our ACT. The faculties felt their privileges being curtailed but they are not coming forward to inform out of scare. Will EPFO realised this and test itself to examine this view more
Mar 31
I agree with Mr. Rajesh Iyer's view and want to add one more thing to his comment as many of the establishments has not deductng pf for the slab of Rs.15,000/- for those who are drawing salary more than Rs.15,000/- per month and also not deductng the full amount for those who are drawing less than Rs.15,000/-. They are deducting PF for the basic and da as per Minimum Wages act which is so less than what Pf Department has informed to the employers. more
Mar 31
