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EPFO contributions to cross ₹3 l cr in '24-25

EPFO schemes are expected to receive around ₹3 lakh crore in total contributions in 2024-25, 8% more than this year and 2.5 times higher than pre-pandemic levels. The expected increase is attributed to strong economic growth, employment generation, formal job creation, rising wages, inflation, and the government s vision to widen the social security net. ....

Employee Provident Fund , Employee Provident Fund Organisation , Employee Pension , Employee Deposit Linked Insurance , Epfo Contributions , Total Contributions , Fy2024 25 , Pre Pandemic 2019 20 , Government Official , Fiscal Year , Economic Growth ,

To keep EPFO viable, officials give House panel radical idea

(File photo)
NEW DELHI: Top labour ministry officials on Thursday told a parliamentary panel on labour that for pension fund like the EPFO to remain viable, it must move from the prevailing system of “defined benefits” to a system of “defined contributions”, where members draw benefits commensurate with their contributions.
Sources said officials told the panel that EPFO had over 23 lakh pensioners drawing Rs 1,000 per month even when their contributions to the fund corpus had been less than a fourth of the benefits they were drawing. They also said this would be unviable for the government to support in the long run, unless a system of “defined contributions” was put in place. ....

Sunil Barthwal , Apurva Chandra , Business News , Pension Fund , Epfo Pension Fund , Epfo Pension Benefits , Epfo Members , Epfo Contributions , சுனில் பார்த்வால் , அபூர்வ சந்திரா , வணிக செய்தி , ஓய்வூதியம் நிதி , எப்போ ஓய்வூதியம் நிதி , எப்போ ஓய்வூதியம் நன்மைகள் , எப்போ உறுப்பினர்கள் ,