look news india
EPFO new rules: Employees contributing to EPFO for pension can get the option to transfer the entire amount deposited in their PF account as pension. Union Labor and Employment Minister Dr. Mansukh Mandaviya has announced changes in the rules of EPFO pension scheme keeping in mind the social security of employees.
Mandaviya said, if an employee wants, he can divert the entire amount deposited in his PF account to the pension fund after retirement. So that he can get more pension. The government is seriously considering this issue. These rules will be changed after considering all the issues.
20 lakh employees joined
In the month of July, about 20 lakh new employees have joined EPFO. Which is the highest so far in the current financial year. A total of 1,994 lakh people registered with EPFO after starting a new job in July. Out of which 10.52 lakh employees have started a job for the first time.
EPFO portal will be developed in advance
Regarding the problems related to the EPFO portal, the Union Minister said that we are working towards making the EPFO portal like a banking website. In the next six months, there will be extensive improvement in it. On the lines of the banking portal, all the services will be available to the employees on the EPFO portal at one click. For which we are improving the entire system.