EPFO Pension Increase Update: In this, the Employees’ Provident Fund Organization can take decisions on applications and payments for higher pension under the Employees’ Pension Scheme.
Employees’ Provident Fund Organization: There is important news for the employees of Employees’ Provident Fund Organization. An important meeting of the Central Board of Trustees CBT (EPFO CBT Meeting 2023) is going to be held on Tuesday, before the 71st Foundation Day of EPFO on 1st November. In this meeting, a decision on increased pension can be taken and the issue of the system being old and not working properly can also be raised in the meeting. However, for this, the government has been demanded to make IT system and infrastructure high-tech.
Important meeting today on Tuesday, decision on increased pension may be taken
According to the information, an important meeting has been called by the CBT of EPFO today on Tuesday. In this, the Employees’ Provident Fund Organization can take a decision on applications and payment for higher pension under the Employees’ Pension Scheme. The same can be decided on the calculation and payment of pension. However, EPFO has issued a calculator regarding this, which can be used by the employees. Having trouble understanding.
As per the CBT agenda, 17.49 lakh applications for verification have been received from pensioners and members for higher pension and are currently under process by EPFO. Information including salary details is being sought from the concerned employees and employers.
Last date for submitting application for higher pension is 31 December
EPFO has extended the deadline for employees and employers to upload information and submit salary details on the website till December 31, 2023. EPFO is expected to provide a status report on the implementation of the Supreme Court order on higher pension under EPS. The CBT, headed by the Union Minister of Labor and Employment, is the apex decision making body of EPFO. This will be the first meeting of CBT in this financial year. The organization has written a letter to all the members of CBT asking them to come.
These issues will also be discussed
In the meeting, investment in Exchange Traded Funds, increase in the number of employees and creation of more posts to meet the needs of Retirement Fund Managers processing pension applications, amendment in the working manual of EPFO to ensure standardization in operations among other items etc. CBT A proposal to this effect is also expected to be placed in the meeting.
Discussion on shortcomings of old system and website also
These days the EPFO website is in a bad condition. Due to the old system and shortcomings in IT, work is getting stuck again and again, due to which Employees Provident Fund Organization officials are facing many problems including difficulty in working and withdrawing PF money to the employees. Is. In this, the work of taking forward the process of application for Higher Pension and approval is also stuck, there is a possibility that this issue can be raised in the meeting of the Central Board of Trustees of EPFO to be held on Tuesday. However, EPFO Had also written a letter in this regard to the Union Labor and Employment Minister in July-2023 and has demanded to make the IT system and infrastructure high-tech.
