EPFO pension rule changed: Good news for pensioners, Now you will get pension on this date every month, know details

There is good news for the pensioners of Employees’ Provident Fund Organization (EPFO). This good news is about the pension coming in his account. EPFO has issued a circular saying that pensioners should get pension on the last working day of the month. That is, now those taking the facility of EPS will not have to wait for 1-2 days of the month for pension.

Rule change

Now pension in EPS will also be available like salary and will be deposited in the pensioner’s account on the last date of every month.

Let us tell you that according to the rules till now, the pension amount was deposited in the account on the first working day of the month, but now it has been changed.

Instructions for depositing pension on time

According to media reports, in the circular issued by the EPFO, it has been said that the review has been done by the Pension Division and according to the instructions of RBI, it has been decided that all the field officers can send monthly BRS to the banks.

It should be kept in mind that money is deposited in the account of pensioners on time. Pension of the pensioners should be deposited on or before the last working day of the month.

EPFO has said in its circular that these orders should be strictly followed. Along with this, all the offices should also send instructions to the banks under their jurisdiction to follow these guidelines.

Pension is available after 58 years

Explain that the employees working in the formal sector get pension after the age of 58 years. For this, it is mandatory for the employees to work for at least 10 years.

The Provident Fund (EPF) and Pension Fund (EPS) are deposited in the Employee Provident Fund (EPF). Employees who contribute to EPF are also eligible for EPS.