Paytm Can Withdraw Application for General Insurance Licence: Irda
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Paytm Can Withdraw Application for General Insurance Licence: Irda

Fintech firm One97 Communications, owner of the Paytm brand, will now focus on the distribution of insurance products of other insurers after the Insurance Regulatory and Development Authority of India accepted Paytm General Insurance’s registration withdrawal application. Paytm General Insurance had approached the regulator for the withdrawal of its application for registration as a “General…

EPFO TO Challenge HC Ruling Against Inclusion of Foreign Workers Under Its Ambit

EPFO TO Challenge HC Ruling Against Inclusion of Foreign Workers Under Its Ambit

The Employees’ Provident Fund Organisation is likely to challenge a Karnataka High Court ruling which held the inclusion of international workers under its fold as unconstitutional, said a senior government official. In a recent judgement, the high court termed the EPF scheme provisions covering ‘international workers’ unconstitutional if international workers earning several lakhs are required…

EPFO Plans to Set up Actuary, Hire more Staff
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EPFO Plans to Set up Actuary, Hire more Staff

The Employees’ Provident Fund Organisation (EPFO) plans to overhaul its pension division, including by setting up an in-house actuary and hiring additional staff, as the Supreme Court’s 2022 order on higher pensions has significantly added to the workload of the retirement fund body. The EPFO may also ask exempted establishments to pay for the administrative…

Employers can Log in to EPF Portal to Check on Liabilities

Employers can Log in to EPF Portal to Check on Liabilities

In a move aimed at enhancing the ease of doing business for employers, the Employees’ Provident Fund Organisation (EPFO) has rolled out automated solutions for damages and interest calculations which will enable employers to check their liability towards the retirement fund body every time they log in to their EPF portal, said a senior government…

Private Sector’s PF Deposit Defaults up 10% in 5 Yrs

Private Sector’s PF Deposit Defaults up 10% in 5 Yrs

The private sector’s default on provident fund deposits with the Employees’ Provident Fund Organisation (EPFO) has risen by almost 10% over the last five years, resulting in arrears of more than ₹15,000 crore for the retirement fund body in 2022-23. PF dues by the private sector accounted for 74.2% of the total dues in 2018-19,…