Retirement fund body, EPFO, has decided to provide a worksheet of PF calculation at the time of withdrawal by EPF members in order to increase transparency. The sheet will help employees understand the details of lump-sum Provident Fund withdrawal received by them. EPFO has instructed its regional offices that this calculation list should be sent to the subscribers either on their registered mobile number or on the email provided by them in their EPF claim form. This worksheet will be provided irrespective of the fact whether members filed their claim online or offline.
According to the latest EPFO payroll data, net employment generation in the formal sector touched a 17-month high of 8.96 lakh in January. The addition in January was 131% higher as compared with 3.87 lakh EPFO subscribers added in the year-ago month. In September 2017, a net of 2.75 lakh jobs were created. Around 76.48 lakh new subscribers have been added to social security schemes of the EPFO from September 2017 to January 2019.