FROM 1st JUNE, EPFO AADHAR VERIFICATION WILL BE REQUIRED.
EPFO has made a significant ruling concerning the Provident Fund. According to the report, the new regulation will take effect on PF accounts on June 1, 2021. The employer is now responsible for obtaining Aadhaar verification for the account. If they don’t, the employer contribution will stop being deposited into your account. As a result, it’s critical that linking the PF account to Aadhaar as soon as possible. UAN should be Aadhaar verified as well.
ECR- electronic challan cum return will not be filed if UAN is not aadhaar validated. In addition, holders will be unable to utilize EPFO services if their accounts are not aadhaar authenticated.
SECURITY RELIEFS PROVIDED BY LABOUR MINISTRY FOR DEPENDENTS OF WORKERS PASSING AWAY DUE TO COVID-19
The Ministry of Labour and Employment has announced additional benefits for employees under the ESIC and EPFO schemes to address workers’ concerns about the well-being of their family members as a result of the COVID -19 pandemic’s increased mortality rate. It is hoped that enhanced social security would be supplied to workers at no additional expense to the employer. Currently, after the death or disablement of an insured person (IP) owing to an occupational accident, a pension corresponding to 90% of the average daily income drawn by the worker is provided to the spouse and widowed mother for life, and to children until they reach the age of 25. The benefit is accessible to the female child until she marries.
To assist the families of ESIC insured persons (IP), it has been determined that all dependant family members of IPs who have been enrolled in the ESIC online portal prior to their diagnosis of COVID disease and subsequent death due to the disease would be eligible for the same benefits. The following criteria must be met:
- At least three months previous to the diagnosis of COVID illness resulting in death, the IP must have been registered on the ESIC web portal.
- During the one-year period immediately before the diagnosis of COVID illness resulting in death, the IP must have been worked for wages and contributions for at least 78 days.
IPs who meet the qualifying requirements and die as a result of COVID sickness will be eligible for a monthly payout of 90% of their average daily salary. From March 24, 2020, the program will be in place for two years. All surviving dependent family members of EPFO members are entitled to EDLI benefits under the EPFO’s Employees’ Deposit Linked Insurance Scheme. Currently, there is no minimum service requirement for payment of Gratuity under this system, and benefits are extended in the event of a worker’s death. The EPF and MP Act provides for the payment of a family pension.
The following changes have been made by the Ministry:
- The maximum benefit amount for family members of deceased employees has been enhanced from 6 lakhs to 7 lakhs.
- Eligible family members of deceased workers who were members for a continuous period of 12 months in one or more businesses prior to his death would get a minimum assurance benefit of 2.5 lakh in lieu of the current provision of continuous employment in the same establishment for 12 months. It will help contract/casual workers who have been missing out on benefits due to the requirement of a continuous one-year contract.
- Restoring the provision of a minimum compensation of 2.5 lakhs immediately, starting on February 15, 2020.
- The assessor estimates that eligible family members will get an extra benefit of Rs. 2185 crore from the EDLI fund in the coming three years, from 2021-22 to 2023-24.
- The number of claims for death under the plan is predicted to be around 50,000 families per year, with an increase in claims expected as a result of the predicted death of 10,000 employees as a result of Covid.
These welfare measures will give much-needed help and financial protection to the families of workers who have deceased as a result of the COVID-19 sickness will protect them from financial hardships in these challenging times of pandemic.