EPFO News: If an employee wants after retirement that all the money deposited in his PF account should be converted into pension fund, so that he can get more pension. The government is seriously considering this.
EPFO News: Union Labor and Employment Minister Dr. Mansukh Mandaviya said on Monday that the rules of EPFO pension scheme are being considered to be changed. Under this, employees can be given the option to convert the total amount deposited in the PF account as pension. Mandaviya said that for social security, more options need to be given to the employees under the Employees Provident Fund.
He said that if an employee after retirement wants that all the money deposited in his PF account should be converted into pension fund, so that he can get more pension. The government is seriously considering this. There is ample possibility of changes in the rules by discussing all the aspects in future.
20 lakh employees joined EPFO in July
About 20 lakh new employees have joined EPFO in July. In July, the highest number of people started their jobs in the current financial year. A total of 19.94 lakh people registered with EPFO after starting their jobs. Out of these, 10.52 lakh employees are those who have started their jobs for the first time.
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EPFO portal will work like a bank website
On being asked about 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 a lot of improvement in it. Our effort is to make all the services available to the employees on the EPFO portal on the lines of the banking portal at one click. For this, the entire system is being improved.
Opportunities for employment generation in the semiconductor sector
Mandaviya said, we are also identifying new sectors in which employment opportunities can be created rapidly. Semiconductor industry is also one of these sectors. In future, there is a possibility of creating big employment opportunities through this because a large number of companies in India are excited to install semiconductors.
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