EPFO Pension Scheme for Formal Workers under Consideration, Get Details

Hello, friends welcome to our web portion today we are here with the information related to the new pension scheme called EPFO Pension Scheme for Formal Workers. The scheme has been announced by the Employees Provident Fund Organisation India. Under this scheme, all those who are working in the organized sector and drawing salary more than rupees 15000 per month will be benefitted. If you are working in an organized sector and the other eligibility requirements set by the authority then you have to read the section of this article. 

EPFO Pension Scheme for Formal Workers

Employee provident fund organization is going to introduce a new pension scheme for all the employees who are working in the organized sector and drawing salary more than rupees 15000 per month. This scheme is for all the employees are not mandatorily cover under its employee’s pension scheme 1995. Presently, All those employees who are working in the organize sector and getting wages up to 15000 per month at the time of joining the service are mandatory to cover under the employee pension scheme 1995. There is a high demand for higher pensions on higher contributions among the members of EPFO. So, the authorities have decided to launch a new pension scheme for those whose annual income is more than 180000 rupees.

EPFO Pension Scheme for Formal Workers

Highlights Of EPFO Pension Scheme for Formal Workers

  • Name of the scheme: EPFO Pension Scheme for Formal Workers
  • Launched by: Employee Provident Fund Organisation
  • Launched for: workers
  • Benefits: pension
  • Official site: www.epfindia.gov.in

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EPFO Pension Scheme Approval

Yet the scheme has not approve. As for the sources, the proposal of this new scheme is going to discuss in the meeting to be held on March 11 and 12 at Guwahati. The discussion on the scheme will be in the meeting of EPFO’s Apex discussion making body the Central body of the trust. A sub-committee constituted by CBT on pension-related issues in November 2021 is going to present the report in the meeting. 

Objective Of EPFO Pension Scheme

The major objective of the employee provident fund organization behind starting EPFO’s new pension scheme is to support the workers of the organized sector who are getting salaries more than rupees 15000.

Benefits Of EPFO Pension Scheme

Under the scheme, all the candidates whose monthly salary is more than 15000 and working in the organized sector will get benefit. Beneficiaries will get a monthly pension at a higher rate.

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Eligibility Criteria

  • Applicant must be working in organised sector
  • An applicant must be an Indian
  • Applicant must be getting salary more than 15000 per month

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