EPFO BIG UPDATE: Every year thousands of employees retire and there is a delay in getting their pension. Many times there is a delay in getting a pension due to mistakes in the form or problems in the PF account. But now thanks to a special scheme of EPFO “PRAYAS”, you can get a pension on the day of retirement itself.
What is EPFO’s Prayas scheme
EPFO’s Prayas scheme helps employees to get a pension on the day of retirement itself. Under this scheme, employees who are about to retire have to complete the necessary paperwork in advance. So that they can get Pension Payment Order (PPO) on the day of retirement itself. Some points to be remembered.
Check EPF account
First of all, check the information on your EPF account. In this, your name, father/husband’s name, joining date, date of birth, etc. all things should be correct. If there is any mistake, then get it corrected from the employer.
Transfer all accounts to UAN
If you have worked in more than one company, make sure that all your EPF accounts are under a Universal Account Number (UAN). Sometimes, working in different units in the same company also creates different PF accounts. Get these transferred to your main UAN as well.
Fill Form 10D
Fill out Form 10D to get a pension and attach all the necessary documents.
Submit on time
After filling out Form 10D completely, get it signed by your employer and submit it to the concerned EPF office at least 20 days before retirement. Also, the employer will have to deposit your PF and pension contributions before retirement.
After doing this, you will get a Pension Payment Order (PPO) on the day of retirement and you will be able to start getting a pension without any delay.
When to apply
If you are going to retire in a few months, then you can get information about the Prayas scheme from your regional EPF branch. EPFO also organizes webinars every month to promote and publicize this scheme.
