Good news for EPF & ESI Subscribers (T&Cs apply)

EPFO: EPFO working to clear withdrawal claims within 3 days

KYC must for employees who wish to get their claims cleared within 3 days.

Sources at PF revealed that EPFO is actively working towards devising a mechanism to clear PF Claims at a faster speed.

This step is being taken due to considerable increase in the applications for PF withdrawals/transfer owing to high rate of attrition amongst employees

Major tool in this regard will be E-inspection which intends to reduce the time frame that is required for physical inspections

EPFO haowever stated, that the major roadblock in this plan is lack of proper statistic and data. To resolve this issue EPFO has urged the PF Account holders to complete their KYC by linking their Aadhaar Card Number and Account Number with their PF Account or UAN.

ESIC: Amends the Employee State Insurance (Central) Rules, 1950, extending its ambit for including depending parents

Amendment in Employee State Insurance (Central) Rules, 1950 as published in Official Gazette dated 26.08.2019

Previous Provision

61-A. Income limit of dependent parents for eligibility to medical benefit. — The income of dependent parents for eligibility to medical benefit under sub-clause (v) of clause (11) of section 2 of the Act from all sources should not exceed five thousand rupees in a month.

Amended /New Provision

In the Employees’ State Insurance (Central) Rules, 1950, in rule 61-A, for the words “five thousand rupees”, the words “nine thousand rupees” shall be substituted.

Analysis of the Change

As per new amendment, income limit of dependent parents to be able to claim benefit under the ESIC Act has been enhanced from Rs. 5000/- per months to Rs. 9000/- per month

Remarks

As a result of this amendment greater number of dependent parents shall be able to avail the benefits under ESIC Act