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How the EPFO can improve as India’s largest social security provider EPFO needs to reform itself on three broad counts: design, governance, and management information systems January 22, 2021 / 06:18 PM IST There is a widespread consensus, supported by evidence, that the EPFO (Employees’ Provident Fund Organization) has not met its objectives. It has not adapted to the changing economy and aspirations of members. EPFO administers the EPF (Employees’ Provident fund), Employees’ Pension Scheme (EPS) and EDLI (Employees Deposit Linked Insurance Scheme) , an insurance cover provided to its members. Managing these three schemes requires different skills, with EPS and EDLI needing robust actuarial skills. ....
What you should know about EPFO pension Satya Sontanam BL Research Bureau | Updated on January 20, 2021 It assumes significance in the backdrop of some expected changes in the structure The Employee Pension Scheme (EPS) hogged headlines recently. Reports suggested that the Centre wants the EPS to be moved from a defined benefit scheme to be a defined contribution scheme. If this proposal sees the light of day, it may change the amount of pension you will receive from the government under the EPS scheme. Being a defined benefit plan, EPS provides a specified pension amount to the member based on employees’ salary, number of years of service and the age of retirement. ....
Pension given out under ‘Prayaas’ scheme Updated: Updated: Share Article AAA The Employees’ Provident Fund Organisation (EPFO), distributed pension payment orders to the employees of Indian Oil Corporation, Ashok Leyland, Fourrts (India) Laboratories Ltd and Padma Seshadri Bala Bhavan Secondary School, as part of ‘Prayaas’, an initiative to release pensions on the day of superannuation to members under the Employees’ Pension Scheme, 1995. According to a press release, pension payment orders were handed over to the retiring employees by Sudhir Kumar Jaiswal, Regional P.F. Commissioner-II (Pension). P. Srinivasan, Assistant P.F. Commissioner (Pension) participated. SUBSCRIBE TO OUR DAILY NEWSLETTER Submit ....
Synopsis A member of the Employees Provident Fund Organisation is eligible to receive a pension provided he/she has completed a minimum of 10 years of service. Here is how you can calculate the EPS pension you are eligible to receive. Getty Images EPS allows early pension from the age of 50 years. Members of the Employees Provident Fund Organisation (EPFO) are eligible to receive pension if they satisfy certain conditions. Once the member has met the required conditions, the amount of pension they are eligible to receive will be calculated based on a formula provided in the rules of the Employees Pension Scheme (EPS). ....