ArdorComm Media Group

Contact Us
Monday, April 6, 2026 3:37 PM
logo
Menu
logo

EPFO

Labour Ministry Eases Scholarship Rules; EPFO to Refund ₹30.52 Crore from Dormant Accounts

/ Education Community

In a significant policy shift, the Union Labour Ministry on Monday (February 23, 2026) updated its scholarship guidelines to allow students receiving welfare-based financial assistance from the Ministry to simultaneously avail merit-based scholarships offered by any Central or State government body. The revision is expected to widen access to financial aid, benefiting more than the current one lakh students annually. According to an official statement, the amendment will particularly support the children of beedi workers, cine workers, and non-coal mine workers. By removing restrictions on overlapping scholarships, eligible students will now have greater financial flexibility to pursue higher education and compete for merit-based awards without losing need-based support. The Ministry clarified that its scholarship scheme remains need-driven and does not impose academic merit criteria. The change has been introduced to promote equity, eliminate unintended exclusions, and ensure clearer policy implementation. Previously, several deserving students from unorganised worker families were unable to access additional scholarships due to conflicting eligibility rules. The decision aligns with the broader objectives of the Code on Social Security, which seeks to strengthen welfare measures for unorganised workers and their families, particularly in the area of education. In a separate reform initiative, the Ministry also announced the settlement of 7.11 lakh inactive accounts under the Employees’ Provident Fund Organisation (EPFO). Each of these inoperative accounts holds a balance of up to ₹1,000, amounting to a total of ₹30.52 crore. The funds will soon be refunded to the respective account holders or their legal heirs. Source: The Hindu

Labour Ministry Eases Scholarship Rules; EPFO to Refund ₹30.52 Crore from Dormant Accounts Read More »

EPFO launches Employee Enrollment Scheme 2025 to boost workforce formalisation

/ Human Resource Community

The Employees’ Provident Fund Organisation (EPFO) has introduced the Employee Enrollment Scheme 2025, a new initiative designed to encourage employers to voluntarily declare and enrol all eligible employees under the provident fund system. The scheme was launched on the occasion of EPFO’s 73rd Foundation Day by Union Labour and Employment Minister Mansukh Mandaviya. Effective from November 1, 2025, the scheme offers employers an opportunity to regularise employees’ provident fund coverage with minimal penalties. As per the guidelines, employers will not have to pay the employee’s share of contribution if it was not deducted earlier, and will face only a nominal penalty of ₹100. According to the Ministry of Labour and Employment, the initiative aims to promote formalisation of the workforce and enhance ease of doing business, ensuring that more workers gain access to social security benefits. Speaking at the launch, Mandaviya emphasised that EPFO is not just a fund but a symbol of trust and social security for millions of Indian workers. He highlighted that all reforms should reach workers in simple, accessible ways so that their benefits can be felt directly. Central Provident Fund Commissioner Ramesh Krishnamurthi announced that the upcoming EPFO 3.0 platform will introduce enhanced digital features to improve efficiency, transparency, and accessibility. He noted that recent initiatives — including simplified withdrawal options, the Viswas Scheme, Aadhaar and face authentication, the revamped ECR system, and the Centralised Pension Payment System — are part of EPFO’s broader digital transformation journey to provide seamless, technology-driven services to over 70 million subscribers. Labour Secretary Vandana Gurnani underlined EPFO’s critical role in executing the Prime Minister’s Viksit Bharat Rozgar Yojana (PMVBRY), which aims to create 3.5 crore new formal jobs across various sectors. The scheme, she said, reflects the government’s commitment to expanding employment opportunities and securing the financial future of India’s workforce. Source: Economic Times

EPFO launches Employee Enrollment Scheme 2025 to boost workforce formalisation Read More »

EPFO Initiates Evaluation of Financial Implications for Higher Pensions Following Supreme Court Ruling

1 Comment / / Human Resource Community
News on HR

The Employees’ Pension Fund Organisation (EPFO) has commenced the process of evaluating the financial implications of a Supreme Court ruling by issuing letters to individuals who have requested higher pension benefits. The EPFO is seeking a response of Rs 2,000 crore in this regard, marking the initial step in gauging the financial repercussions of the court’s decision. To assess the preliminary financial impact, the EPFO has employed an Actuary to make calculations based on specific assumptions. However, this actuarial assessment will be an ongoing process and will be conducted in batches of 50,000 demand letters sent out. A comprehensive evaluation will follow once all cases have been addressed. Additionally, the EPFO is in the process of establishing an actuarial department at its headquarters to ensure the use of realistic assumptions and to conduct thorough actuarial reviews of reports provided by the valuer or consulting actuary. In total, the EPFO has received 1.749 million applications for increased pension benefits, of which 629,000 have been reviewed. Among these, approximately 527,000 applications required the EPFO to contact employers for additional information or corrections, while around 3,618 forms were rejected. During a recent meeting of the EPFO’s Central Board of Trustees (CBT), it was noted that processing these applications is a time-consuming task, and the actuarial analysis can only be completed after addressing all applications, as per the CBT, which serves as the EPFO’s top decision-making body.

EPFO Initiates Evaluation of Financial Implications for Higher Pensions Following Supreme Court Ruling Read More »