EPFO: Good news for EPFO workers. The proposal to triple the minimum pension is now nearing completion. SP Tiwari, a member of the Central Board of Trustees (CBT), which is the decision-making body of the Central Provident Fund Organization (EPFO), announced that the minimum post-retirement pension from EPFO is set to rise from Rs. 1,000 to Rs. 3,000.
This proposal has received approval during three CBT meetings. Union Labor and Employment Minister Mansukh Mandaviya has also given his consent. The EPFO, utilizing its own resources and interest, can provide a monthly pension of Rs 3,000 to 4 million pensioners nationwide. However, fulfilling the demand for Rs 7,500 is currently unfeasible.
On Friday, Board member and TUCC Federation General Secretary SP Tiwari visited the EPFO office in Sarvodaya Nagar. He mentioned that the process of transferring PF funds directly to bank accounts via UPI is almost finished. Starting in July, all EPFO members will have access to this service. However, members will only be permitted to withdraw 50 percent of their PF deposits, and employer contributions will not be accessible.
The EPFO 3.0 portal is anticipated to launch on June 1st. Following this, new regulations for pension and PF withdrawals will come into effect. PF deductions are calculated based on an employee’s maximum basic salary of Rs 15,000 plus DA, and there are demands for an increase. It is expected that the PF limit will soon rise to Rs 25,000.
Upon arriving at the EPFO office, TUCC Federation President Hansraj Akela and General Secretary SP Tiwari were welcomed. Present were Rajesh Shukla, National Advisor of the EPS-95 National Struggle Committee, Saurabh Tiwari, General Secretary of the Staff Union, and TUCC District General Secretary Dinesh Singh Bhole.
TUCC Federation President Hansraj Akela and General Secretary SP Tiwari were welcomed on reaching the EPFO office. During this, National Advisor of EPS-95 National Struggle Committee Rajesh Shukla, General Secretary of Staff Union Saurabh Tiwari, TUCC District General Secretary Dinesh Singh Bhole etc. were present.