Supreme Court: Vacancies From Resignations under CUSAT Act Must Follow Communal Rotation || Supreme Court: Forest Land Cannot Be Leased or Used For Agriculture Without Centre’s Approval || Supreme Court: Gravity of Offence and Accused’s Role Must Guide Suspension of Sentence under CrPC || Supreme Court: Arbitral Awards Cannot be Set Aside For Mere Legal Errors or Misreading of Evidence || SC Acknowledges Child Trafficking as a Grave Reality and Issues Guidelines to Assess Victim Evidence || Allahabad HC: When Parties Extend an Agreement by Conduct, The Arbitration Clause Extends Too || Supreme Court: Issues of Party Capacity and Maintainability Must Be Decided by Arbitral Tribunal || Supreme Court: Omissions in Chief Examination Can Be Rectified During Cross-Examination || Supreme Court: Items Given by Accused to Police Are Not Section 27 Recoveries under Evidence Act || Gujarat High Court: Waqf Institutions Must Pay Court Fees When Filing Disputes in State Tribunal

EPFO beneficiaries to get payment through electronic or digital fund transfer system- (Press Information Bureau) (18 May 2017)

MANU/PIBU/0545/2017

Labour and Industrial

The Ministry of Labour & Employment vide notification dated 4th May 2017 has provided for electronic or digital fund transfer / payment of EPF benefits, pension disbursement and insurance claim. For this purpose, suitable amendments have been made in all the three social security schemes administered by EPFO. Such move is likely to benefit 4.5 crores EPF subscribers and around than 54 lakhs pensioners. Now, payments will be made to the beneficiaries through electronic or digital fund transfer system only ensuring quick transfer of funds, easier tracking and reconciliation thereof.

Tags : EPFO BENEFICIARIES PAYMENT DIGITAL FUND TRANSFER SYSTEM

Share :