Putting to skittle most of the grievances that the members of Employees’ Provident Fund Organisation (EPFO) had, as per reports, the government is preparing to send Rs 7,500 into their accounts very soon. The announcement is anticipated to benefit about 78 lakh pensioners under the Employees’ Pension Scheme (EPS). The increase in pension comes from the broader government efforts to ensure the much-needed financial security for retired employees.
Reasons Behind Rs 7,500 Credited By EPFO
The government has found itself under pressure to raise the minimum pension under EPS-95. Currently, various pensioners receive space low monthly pension, rendering their financial condition difficult. The minimum pension of Rs 7,500 is a recommendation to various employee unions and pensioner associations. When granted, this increase will go much into the pockets of millions of pensioners in the country.
Who Will Receive The Benefit Of Eps 95?
- Pensioners from EPS-95: EPS is essentially an employee coverage scheme under EPF. The larger lot of beneficiaries seems to be those retired under EPS-95 scheme.
- Retirement Low Pensions: People who receive pensions currently below Rs 7,500 may gain from this increment directly.
- Active EPFO Members: While it is really meant purely for pensioners, EPFO members currently contributing to EPS may also earn in the future more pension during their retirement.
When Will Be Money Credited?
Although no official word has been provided on the date, reports suggest that the increased amount may be effective within the next few months. Soon, the government will put up an official notification to that regard. Eligible pensioners need to update all EPFO records, especially their bank particulars, to make seamless the crediting of the amount.
How To Check Your EPFO Pension Status?
In the case of being an EPFO pensioner, one can quickly find out about his/her pension status online – in just a few clicks of the mouse:
- Visit the EPFO Member Portal – Go to [www.epfindia.gov.in](https://www.epfindia.gov.in)
- Login to Your Account – use your UAN with password.
- Check Pension Details – Click on the ‘Pension Payment Enquiry’ section to see his/her pension status and payment details.
Conclusion
The anticipated credit of Rs 7,500 into EPFO pension accounts is a boon for millions of pensioners oppressed with low pensions. This is an amazing step from the government’s side for better financial stability of the retired debtors. Pay attention to official announcements from EPFO in order to keep yourself informed on the specific date and process of payment.
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