An amount of Rs. 14,767.47 crore (as per unaudited Balance Sheet of 2011-12) has been received as contribution in Employees’ Pension Fund for the financial year ending on 31.3.2012.
An amount of Rs. 1,62,980.04 crore is balance in Employees’ Pension Fund Contribution Account as on 31.3.2012.
The whole amount of Employees’ Pension Fund stands invested. Rs. 57,087.01 crores is invested in Public Account and balance is invested in securities.
Employees of a liquidated company can file their claim for provident fund, duly attested by any of the following authorized persons:
Member of Parliament;
Member of Legislative Assembly;
Magistrate;
A Gazetted Officer;
Sarpanch of the Village;
Manager of the Bank in which the Bank Account of the claimant is maintained; and
Notary Public, etc.
As per the provisions contained in the Employees’ Provident Funds Scheme, 1952, claims of a member, completed in all respect, is to be settled within 30 days of its receipt in the office Employees’ Provident Fund Organisation (EPFO).
This information was given by the Union Labour & Employment Minister Shri Mallikarjun Kharge in reply to a written question in the Lok Sabha today.
PIB
The Union Labour & Employment Minister Shri Mallikarjun Kharge has informed the Rajya Sabha that Reliable estimates of employment and unemployment are obtained through quinquennial labour force surveys conducted by National Sample Survey Office. Last such survey was conducted during 2009-10 .As per two most recent round of surveys, about 23.4 per cent and 25.3 percent of persons were estimates to employed in services sector. Against these estimates persons employed in social sector comprising education, health and social work and other community , social and personal service activity combined together were 6.0 per cent and 5.3 percent ,respectively during the corresponding period.
As per data collected under Employment Market Information programme of Directorate General Of Employment & Training, employment in the organized sector, both public and private, increased from 26.4 million in 2004-05 to 28.7 million in 2009-10.
The Minister was replying to a written question whether it is a fact that organisations working in the social sector in the country are continuously increasing the job opportunities; if so, Government’s reaction thereto; whether it is also a fact that job opportunities are not being increased in the corporate sector in comparison to these organisations; and the details thereof and the rate of increase of job opportunities in social and corporate sector in the year 2011?
Source: PIB
Employees Provident Fund Organisation
(Ministry of Labour & Employment, Govt. of India)
Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place, New Delhi - 110066
No.:WSU/10(1)2011/Changes in MAP
Dated:15-03-2012.
To
All Regional Provident Fund Commissioners,
In-charge of the ROs/SROs
Subject:- Process of settlement of claims in view of declaration of rate of interest for the financial year 2011-12 — Regarding.
Sir,
This is in reference to the Head Office circular No. Invest.1/3(2)/133/11-12-ROI/51350 dated 14.03.2012 (placed at Sl. No. 602 of ‘Office Orders & Circulars 2011-12’ on EPFO’s website) vide which rate of interest @8.25% pa. for the financial year 2011-12 has been conveyed. The IS Division has already released Application S/w Patch Ver 3.29.1” dated 15-03-2012 for the same.
Accordingly, all the RPFCs/Officers-Incharge of ROs/SROs are hereby directed to settle the claims by crediting the interest @8.25% for the financial year 2011-12. The claims, which are already in the pipeline before release of S/w Patch Ver 3.29.1, need not be returned to the Dealing Assistant (Initiator) for the change in the rate of interest. Such claims are to be approved by crediting interest @ 8.25% qa (for the Financial Year 2011-12), at the level of Section Supervisor, Accounts Officer or APFC, as the case may be. The Section Supervisor, Accounts Officer or APFC, as the case may be, shall record the final amount on the claim form
under his signature.
Yours faithfully,
sd/-
(Rajesh Bansal)
Financial Advisor & Chief Accounts Officer
