Big news is coming from the government for EPFO members. The government has implemented several rules to take the problems of EPFO members more seriously. Emphasis has also been laid on better facilities for EPFO members and their minimum pension limit.
With these rules, the members will soon get relief from their problems and the government has announced special changes for them. In such a situation, it is estimated that all the members will start getting the benefits of these changes in the coming month.
This change has been implemented by the government after the meeting of the Ministry of Labour and guidelines have also been implemented for this.
What are these changes
The government has made big changes to provide better facilities to all EPFO members. In these changes, the most important emphasis has been laid on the facility of withdrawing a partial amount at the time of retirement along with increasing the minimum pension from 1000.
Along with this, there has been talk of upgrading the EPFO IT sector to deal with the problems being faced by EPFO members as soon as possible. With the upgrade of the IT sector, many complaints will be resolved soon. Earlier, it used to take a lot of time to fix these problems.
What is the facility of partial pension
If you are an EPFO member, then on your retirement, according to the government’s rules, you are given the facility to withdraw partial money from your pension. This new rule is being linked to NPS. If you join your PF money with NPS, then you will get the facility of a fixed pension after retirement.
Under the scheme, it has also decided to increase the pension received every month to those whose monthly salary is Rs 15000. The government is also planning to make the facility of partial pension even more affordable, keeping in mind the convenience of EPFO members, to provide better facilities to the members.
More money will be able to be withdrawn from the PF
The Central Government, on behalf of the Ministry of Labour, had also announced a big change in EPFO some time ago so that lakhs of PF account holders can get the benefit of more facilities.
The government has also implemented an SMS facility to keep EPFO members updated, under which when the PF amount is deposited, they will immediately know through SMS that their PF money has been deposited. The government has also increased the limit of withdrawal of PF money more than before.
Now PF account holders will be able to easily withdraw an amount of up to Rs 100000 instead of Rs 50000 for any of their medical and children’s education. For this, the government has issued a notification. With this change, it will be easy for lakhs of PF account holders to live a better life.