EPFO Pension Big Update 2023: Employees’ Provident Fund Organization has made major changes in the pension scheme. Under which 6 crore people will get direct benefits. Let us know about the changes in the EPFO pension scheme in the news below.
EPFO Pension Big Update 2023
New EPFO Pension Big Update 2023
The Employees’ Provident Fund Organization has made a major change in the pension scheme, due to which crores of subscribers are going to get relief. In fact, the retirement body fund has allowed its EPFO subscribers retiring in less than 6 months to withdraw the amount deposited under the Employee’s Pension Scheme (Employee’s Pension Scheme 1995) EPS-95.
Decision on appeal of CBT – Employees’ Provident Fund Organization
According to PTI, this information has been shared by issuing a statement from the Ministry of Labor regarding the Employees’ Provident Fund Organization. It was told that the recommendation made by the Central Board of Trustees (EPFO) to the government also includes the facility of withdrawal from their EPS account for members with less than six months of service. There are more than 6.5 crore EPFO subscribers across the country.
Along with this, the Board of Trustees has also recommended giving proportionate pension benefits to the members who have been a part of this EPFO scheme for more than 34 years. This facility will help Employees’ Provident Fund Organization pensioners to get more pension at the time of determination of retirement benefits.
Members now had this permission : EPFO Pension Big Update
Significantly, so far the subscribers of the Employees’ Provident Fund Organization (EPFO) have been allowed to withdraw only the amount deposited in their Employees’ Provident Fund account, whose service is less than 6 months. But after this big decision taken by the Retirement Body Fund, now those Employees’ Provident Fund Organization (Employees’ Provident Fund Organization) subscribers will get a big relief, who have only 6 months of service left.
Meeting chaired by Bhupendra Yadav: Employees’ Provident Fund Organization Update
In the 232nd meeting held on Monday by the CBT, it was recommended to the government that by making some amendments in the EPS-95 scheme, the retiring contributors should be allowed to withdraw the amount deposited in the pension fund. EPFO said in a statement of the Ministry of Labor that the Employees’ Provident Fund Organization (Employees’ Provident Fund Organization) subscribers of Union Labor Minister Bhupendra Yadav should be allowed to withdraw the amount deposited in the pension fund.
This policy also got approval – EPFO Pension Scheme Update
According to the report, it has been informed by the Ministry of Labor that the Board of Trustees of EPFO has also approved the redemption policy for investment in Exchange Traded Fund (ETF) units. The Board has allowed redemption of ETF units purchased during the period of Employees’ Provident Fund Organization calendar year 2018 for booking of capital gain to be included in income for computing rate of interest for 2022-23. also approved.
Good News for EPFO Subscribers
Account holders of Employees Provident Fund Organization ie EPFO can get a big gift soon. According to a report, the minimum pension can be increased up to three times. Employees Provident Fund Organization ie EPFO Subscribers can get a big gift soon! According to the report of ET Now Swadesh, Employees’ Provident Fund Organization (Employees’ Provident Fund Organization) minimum pension can be increased three times!
Employees’ Provident Fund Organization
The report states that the meeting of the Central Board of Trustees of EPFO is scheduled to be held next month. The three-fold increase in minimum pension is expected to be discussed in this meeting. The minimum EPFO pension may be increased from existing Rs 1,000 to Rs 3,000. According to the report, the committee headed by the Labor Secretary will soon submit its report in this matter. This decision will benefit about 6.5 lakh pensioners and 5 crore subscribers of Employees’ Provident Fund Organization.
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