Good news for EPS pensioners! EPFO issues directions for timely credit of monthly pension

Ensuring timely credit for the Employees' Provident Fund (EPS) pensioners, the Employees' Provident Fund Organisation (EPFO) has issued direction to its field offices to generate and reconcile pensioners’ details and pension amount statements for the current month by 25th March 2020. The EPFO further directed the EPFO field offices that the same should be forwarded to the banks in advance so that the monthly pension is credited into the account of the pensioners in time.

Informing about the EPFO direction to the field offices the Ministry of Labour & Employment said in a press statement, "Due to the coronavirus pandemic, the lockdown has been declared in various parts of the country.  In order to ensure that no inconvenience is caused to the pensioners on account of the prevalent situation, Central Provident Fund Commissioner has directed the field offices of EPFO to generate and reconcile pensioners’ details and pension amount statements for the current month by 25th March 2020." The ministry went on to inform that the EPFO further directed the EPFO field offices that the same should be forwarded to the banks in advance so that the monthly pension is credited into the account of the pensioners in time i.e. during the month of March itself.

See Zee Business Live TV streaming below:

EPFO is disbursing monthly pension to more than 65 Lakh pensioners every month under the Employees’ Pension Scheme, 1995.

Due to the Coronavirus lockdown, EPF pensiones were under stress whether their monthly pension would come on time or not. This announcement by the Ministry of Labour & Employment will work as a huge relief for these 65 lakh EPS pensioners.