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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