Finance Minister: There’s huge information for EPFO subscribers. A parliamentary committee will search a proof from the Finance Ministry for turning down the Labor Ministry’s proposal to extend the pension of Staff’ Provident Fund Group (EPFO) subscribers from the present Rs 1,000 monthly.
EPFO Information: Necessary information for EPFO subscribers. The federal government has made an essential announcement for the subscribers of the Staff’ Provident Fund Group (EPFO). Though this information could disappoint you. Really, the federal government has rejected the proposal to extend the pension of Staff’ Provident Fund Group (EPFO) subscribers. After this, a parliamentary committee will search a proof from the Finance Ministry for turning down the Labor Ministry’s proposal to extend the pension from Rs 1,000 monthly.
EPFO subscribers acquired a shock
High officers of the Labor Ministry and EPFO on Thursday briefed the Parliamentary Standing Committee on Labor headed by BJD MP Bhartrihari Mahtab concerning the operation of the EPF pension scheme and administration of its funds. Officers knowledgeable the committee that the finance ministry was not agreeable to the labor ministry’s proposal for any enhance within the month-to-month pension. After this, the committee has now determined to name the highest officers of the Finance Ministry to hunt clarification concerning this topic.
Actually, the committee in its report had really useful growing the minimal month-to-month pension payable to member/widow/widower pensioners by at the very least Rs 2,000. In view of the rising inflation, the committee had given this proposal.
Pension Scheme Modifications
Considerably, the EPFO has agreed to withdraw deposits below the Staff’ Pension Scheme 1995 (EPS-95) for workers retiring in lower than six months. As of now, Staff’ Provident Fund (EPFO) subscribers are allowed to withdraw deposits from the Staff’ Provident Fund account provided that they've lower than six months of remaining service. This resolution signifies that now the subscribers of EPFO will have the ability to withdraw cash from the pension fund as effectively.
