Provident fund body directs field offices to settle pension on retirement day
There are about 48.85 lakh central government employees and 55.51 lakh pensioners in the country
New Delhi: Retirement fund body Employees' Provident Fund Organisation (EPFO) has issued directions to its field offices to settle pension benefits to employees on the day of retirement itself, Parliament was informed on Wednesday.
"Directions have been issued by EPFO to all its field offices to make the payment of provident fund and pension to members of Employees' Provident Funds (EPF) Scheme, 1952 and Employees' Pension Scheme (EPS), 1995 on the date of retirement itself," Labour Minister Bandaru Dattatreya said in a written reply to the Rajya Sabha.
He was responding to a question if the government had decided to settle the PF/EPF, gratuity of retiring on the day of retirement itself.
"As regards settlement of gratuity, as per Payment of Gratuity Act, 1972, the employer shall arrange to pay the amount of gratuity within 30 days from the date it becomes payable to the person to whom the gratuity is payable," the minister added.
In June 2014, the government had decided to give pension payment order to an employee on the day of retirement itself with the aim to ensure a life of dignity for pensioners.
There are about 48.85 lakh central government employees and 55.51 lakh pensioners in the country.
Veteran leader and former Union Minister Kapil Sibal, in a surprise announcement, said that he had resigned from the Congress, as he filed his nomination for Rajya Sabha. He’s the fifth big name to leave the party after Sunil Jakhar, Hardik Patel, Ashwani Kumar, and RPN Singh
Modi@8: From hugging Rahul to tearing apart the Congress, the prime minister's memorable moments in Parliament
Narendra Modi first entered Parliament in 2014 to much pomp. Be it his speeches or his witty remarks, when the prime minister is in attendance, it comes with some bit of drama
The state's finance secretary, Alarmelmangai D, requested the PFRDA to refund the amount soon according to its present market value citing that it will be used to meet future pension liabilities