EPFO January Latest Update: See the new update of Employees’ Provident Fund Organisation! Most of the people think that only government employees get the pleasure of pension. but it’s not like that. If you do a private job and you have completed 10 years of employment. So you can also get the benefit of pension. Rules have been issued by EPFO regarding this.
EPFO January Latest Update
According to the Employees’ Provident Fund Organisation, an employee who has completed 10 years of his private job becomes entitled to EPFO pension after completing the job. But to take advantage of this you have to fulfill some conditions. Let us tell you, a major part of the salary of an employee working in the private sector goes to the provident fund. This PF is deducted every month from the employee’s salary, which is deposited directly into the employee’s PF account.
EPFO Rules
According to the rules of the Employees’ Provident Fund Organization, 12 percent of the employee’s basic salary and DA goes to the PF account every month. Out of which the entire portion deducted from the employee’s salary goes to EPF, while 8.33% of EPFO goes to the employer company’s Employees’ Pension Scheme (EPS) and 3.67% goes to EPF contribution every month.
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Pension will be given after working for 10 years: Employees’ Provident Fund Organization
Let us tell you, the rules of the Employees’ Provident Fund Organization say that even after working for 10 years in a private company, the EPFO employee becomes entitled to pension. In this, there is only one condition from the side of the employee that 10 years of the tenure of the job should be completed. Please tell that the duration of the job of 9 years 6 months is also counted as 10 years. But keep in mind that if the duration of the job is less than 9 years, then it will be counted for 9 years only.
How to get pension: EPFO January Latest Update
According to Employees’ Provident Fund Organisation, if your total service period of 10 years is completed then you will be entitled to EPFO pension. But for this you have to remember your UAN number. This means there should be only one UAN for the total tenure of 10 years of service.
Actually, even after changing the job, your EPFO UAN remains the same and all the money deposited in the PF account will be reflected in the same UAN. If there is a gap of some time between two works, then the tenure is considered as one by removing it. That is, in the Employees’ Provident Fund Organization, the gap between the previous job and the new job is removed and merged with the new job.
EPFO Latest Update Check
Jobs in the organized sector have increased across the country. Employees’ Provident Fund Organization (EPFO) has added 16.94 lakh subscribers in August 2022. This number is 14.4 percent more than in August 2021. According to the news, according to the provisional figures of the employees (payroll) kept on regular salary, released on Thursday by the Employees’ Provident Fund Organization, out of total 16.94 lakh members during August, about 9.87 lakh new members for the first time. Joining EPFO. have come into range.
Employees’ Provident Fund Organization Update
According to reports, out of 9.87 lakh new members added during August, about 58.32 per cent are in the age group of 18 to 25 years. As per the data, around 7.07 lakh members exited the scheme but rejoined the institutions under EPFO. Instead of opting for final withdrawal from their accounts, these people transferred their funds to the previous PF account. All employees can become members of the Employees’ Provident Fund Organization!