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.
Source : http://www.livemint.com/
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