EPFO news: EPF contribution rule may change if Central Government accepts this labour union's demand

EPFO or Employees' Provident Fund Organisation may have to change its EPF passbook contribution rule if the Labour Ministry accepts demand made by the Bharatiya Mazdoor Sangh.

ZeeBiz WebTeam | Mar 03, 2021, 09:33 AM IST

EPFO or Employees' Provident Fund Organisation may have to change its EPF passbook contribution rule if the Labour Ministry accepts demand made by the Bharatiya Mazdoor Sangh. The Labour Union in a recent meeting with the Labour Ministry's officials and industry representatives raised the demand for enhancing the minimum basic salary of Rs 15,000 to Rs 21,000 for EPF contribution.

1/5

Major Demand on EPF contribution

Major Demand on EPF contribution

The Labour Union has demanded from the Narendra Modi Government to raise the minimum monthly salary threshold from Rs 15,000 to Rs 21,000 for monthly Provident Fund (PF) or Employees' Provident Fund (EPF) deduction. Photo: Reuters

2/5

What Demand Means for EPFO Members

What Demand Means for EPFO Members

The Bharatiya Mazdoor Sangh raised the demand during a joint meeting with the Ministry of Labour and representatives of the industry insiders. The Labour Union said that the monthly PF or EPF contribution rule for EPFO members needs a change and the minimum monthly salary of an EPF Scheme beneficiary should be raised from Rs 15,000 to Rs 21,000. Photo: Pixabay

3/5

Labour Ministry's response

Labour Ministry's response

The Ministry of Labour or the central government is expected to express its views on the demand raised by the Bharatiya Mazdoor Sangh in regard to this EPF contribution rule change. Photo: Reuters

4/5

Demand on Leave

Demand on Leave

Recently, the Labour Union had demanded from the center to change the leave rules for various employees as different sector employees have different work cultures. They put forth their demand for increasing the total number of leaves during the entire service period from 240 to 300. Photo: PTI

5/5

Demand met on one time EPF interest rate payment

Demand met on one time EPF interest rate payment

The Union Cabinet is expected to discuss these demands raised by the Bharatiya Mazdoor Sangh as they have already accepted their one demand at the beginning of 2021 when they announced 8.5 per cent EPF interest rate and credited the EPF interest for FY 2019-20 in respective EPF accounts. Photo: Reuters