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EPFO launches an incentive scheme for employers to encourage partnership in allotment of universal account number (UAN) to their employees



EPFO launches an incentive scheme for employers to encourage partnership in allotment of universal account number (UAN) to their employees


Employers can get refund upto 10% of administrative charges payable to EPFO under a new incentive scheme

EPFO, Head Office, New Delhi:  In order to boost the process of seeding the Universal Account Number (UAN) with KYC (e.g PAN, bank account details, Aadhar) that enables enhanced services from EPFO, an “Incentive Refund Scheme” has been launched.  The Scheme shall be in operation for one year beginning 1st January 2016 to 31st December, 2016.

The employers can now claim upto 10% refund of administrative charges on fulfilling certain criteria relating to UAN in respect of its contributing members.  The refund as per the scheme comes in two categories:-

·                     Incentive Refund Scheme A

Claim 10% refund of administrative charges by:-

(i)                 Providing member’s details as required under Form No. 11 (New) (80% or above)

(ii)               Seeding of all the three i.e AADHAR (atleast 80% of (i) above, bank account (100% of (i) above) and PAN (wherever applicable).

(iii)             UAN activation (100% of (i) above)



·                     Incentive Refund Scheme B

Claim 5% refund of administrative charges by:-

(a)    Providing member’s details as required under Form No. 11 (New) (60% or above).

(b)   Seeding of all the three i.e AADHAR (70% of (a) above, bank account (80% of (a) above) and PAN (wherever applicable).

(c)    UAN activation (60% of (a) above).

Only such establishments that have in each month of the quarter achieved the criteria for qualification can avail the incentive of 5% or 10% by way of refund at the end of every quarter starting from quarter ending March, 2016.

Already 6.38 crore UAN numbers have been allotted by EPFO.  Seeding of UAN with KYC details including Aadhar, bank details is a priority area for EPFO.  This is being carried out in full swing.  More than 2.44 crore members have activated their Universal Account Number and are able to access enhanced services like downloadable dynamic UAN card, updated details of PF accounts, auto trigger of transfer request while changing employment etc.  The incentive scheme aims to improve service delivery to those who need the most.  It is now possible for employers to submit UAN based claims directly to PF offices, without attestation of the employers.

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Ministry of Labour and Employment Launches the Start Your Business Page on NCS Portal

Following the MoU signed with Uber in February 2016, the Ministry of Labour and Employment on Friday, 11 March 2016, announced the official launch of the “Start Your Own business” page on the National Career Services Portal.

Gracing his presence at the event, Secretary, Ministry of Labour and Employment, Shri Shankar Agarwal, said “Participation from the industry is essential to create a wide range of entrepreneurial opportunities for the unemployed youth of the country. This initiative aims to make it more convenient for an individual to start his own business. We welcome companies like Uber, who are revolutionizing the way traditional employment works, by offering flexible and high earning opportunities on its platform. We look forward to make this a vibrant platform for entrepreneurs to share their success stories and motivate others in joining the entrepreneurial endeavours”

The National Career Services Portal (www.ncs.gov.in) was dedicated to the nation by the Prime Minister last year, with the vision to provide a nationwide platform that wouldfacilitate the jobseekers and employers to come together on this platform through dynamic, efficient and responsive job matching. Towards the aim of encouraging a nation of job creators in addition to job seekers, the newly launched section on NCS provides helpful material and links for budding entrepreneurs.

Uber was introduced asoneof the first entrepreneurship partnerson the page since it has already presented over 250,000 entrepreneurial opportunities for aspiring cab drivers in India. Youth in the country can now log onto the NCS portal and sign up to become a driver partner on the Uber platform. Uber will also facilitate such partners in getting financial loans to purchase vehicles and start their business.

The announcement was made at the Indian Institute of Technology (IIT) in Delhi on 11 March, in presence of Shri Pravin Srivastava DDG (Employment) from the Ministry, Shri.Thuan Pham, Chief Technology Officer, Uber Technologies and representatives from over 50 India based startups. This was followed by a live mentorship session for the startups on tackling the challenges faced by new entrepreneurs in building and launching product and organizing its technical workforce.

Shri. Thuan Pham said, “We are excited by the progressive move of the Ministry to embrace such collaborations to boost India’s economy and offer a variety of new work and flexible opportunities that go beyond traditional employment.”

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EPFO settles 104.38 lakh claims in the current fiscal CBT, EPF recommended 8.8% rate of interest for the year 2015-16

Simplified Pension Claim Form 10D (UAN) and single page Pension Payment Order (PPO) under Employees’ Pension Scheme, 1995 unveiled

New Delhi:  While taking stock of the performance of EPFO in the month of February 2016, Dr V.P. Joy, the newly appointed Central P.F. Commissioner, noted that for the period April 2015 to February 2016, EPFO settled 104.38 lakh claims. Out of these 40% were settled within 3 days and 78% within 10 days.  96% of the claims were settled within the stipulated 20 day period.

During the month, 211th meeting of the Central Board of Trustees, EPF was held at Chennai. The Board deliberated on the rate of interest for the financial year 2015-16 and recommended 8.80% interest on the PF balances in members’ accounts.  Last year, the rate of interest was 8.75%.   

A Simplified Pension Claim Form 10D (UAN) and single page Pension Payment Order (PPO) under the Employees’ Pension Scheme, 1995 was also unveiled by the Union Labour & Employment Minister (Independent charge) at the conclusion of the Board meeting. The single page PPO format is simple and more comprehensible to members / pensioners. This attempt is towards the rationalization and simplification of forms in line with the initiatives of the Government. At present, the simplified 10D-UAN claim form is meant to be used only by a member who has an activated Universal Account Number. Other pre-requisites are filing of details in Form 11(New), Aadhaar Number and Bank Account details in the UAN portal. The nominations with Aadhaar numbers should also be available in the UAN portal. Through this Form, service to a member can be done directly without any requirement of attestation by the employer. Both the simplified PPO format and claim form will be implemented from 01.04.2016.

In order to boost the process of seeding the Universal Account Number (UAN) with KYC (eg. PAN, bank account details, Aadhar) that enables enhanced services from EPFO, an “Incentive Scheme” has been launched for the employers. Under this scheme a claim refund of upto 10% of administrative charges payable to EPFO can be claimed upon completing specified tasks (furnishing member information and digitally authenticated KYC details).    The Scheme shall be in operation for one year, beginning 1st January 2016 to 31st December, 2016.

The age of superannuation in EPF Scheme, 1952 was also revised from erstwhile 55 years to 58 years to align it with the age of superannuation in Pension Scheme (EPS 1995).

The month of February 2016 saw EPFO redressing more than 20,000 grievances leaving only 3,083 grievances pending.  This translates into 82% of these grievances remaining pending for less than 7 days.  

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