The Employees’ Provident Fund Organization (EPFO) has made a big announcement for its members and cleared the way for them to fulfill their dreams. EPFO has given a big gift to the working class by implementing new rules and facilities, which will benefit millions of employees.
What is EPFO’s new plan?
EPFO has launched several new facilities for its members, including:
- Improved pension scheme: Now EPFO members will get the benefit of more pension, which will strengthen their financial security after retirement.
- Easy loan facility: EPFO has launched the facility of loan on easy terms on PF account for its members, which will make it easier to meet emergency needs.
- Expansion of online services: Now all the services of EPFO have been made more accessible in online mode, which will make it easier for employees to get information about their PF balance, pension or claims.
- Quick settlement: EPFO has adopted new technologies to reduce the processing time of PF withdrawal and pension claims, so that members can get their money soon.
Who will get the benefit?
This new decision of EPFO will benefit more than 6 crore employees and their families. This step will prove to be a boon especially for private sector employees and people of low income group.
What do experts say?
Financial experts believe that this initiative of EPFO will strengthen the savings and social security of the employees. This will not only reduce the worries after retirement, but will also provide support to the employees in times of economic crisis.
How to avail the benefits?
EPFO members can avail these facilities by visiting their nearest EPFO office or the official website www.epfindia.gov.in.
With this new change, EPFO has once again reiterated its resolve to make their dreams come true by promoting employee-friendly policies.
