New Delhi | Jagran News Desk: In a welcome move, EPFO is set to unveil a new scheme for ensuring the financial security of private sector employees. Under the latest scheme. the provident fund body will ensure that the employee starts getting his pension from the day of his retirement.
Earlier, it took months for a government or private-sector employee to avail pension after retirement due to the complicated paperwork. However from September 30, the retiring employees will get all the documents related to their pension
A perosn working in private sector often retires at 58 years. However, they receive their salary in the next month and other-related process is also done later. So, the entire process takes more than one to two months to start the pension facility. And to avail this facility, they usually have to run from pillar to post after retirment
The organisation has arranged that the EPF contribution and other paperwork should be completed in the same month. The Provident Fund body is also in discussion with the company in which the employee is going to retire.
Source: www.officenewz.com
