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EPFO beneficiaries to get payment through electronic or digital fund transfer system

Capital Market 

The Ministry of Labour & Employment vide notification dated 4th May 2017 has provided for electronic or 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 lakh pensioners. Now, payments will be made to the beneficiaries through electronic or fund transfer system only ensuring quick transfer of funds, easier tracking and reconciliation thereof.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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EPFO beneficiaries to get payment through electronic or digital fund transfer system

Such move is likely to benefit 4.5 crores EPF subscribers and around than 54 lakh 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. The Ministry of Labour & Employment vide notification dated 4th May 2017 has provided for electronic or 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 lakh pensioners. Now, payments will be made to the beneficiaries through electronic or fund transfer system only ensuring quick transfer of funds, easier tracking and reconciliation thereof.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

EPFO beneficiaries to get payment through electronic or digital fund transfer system

The Ministry of Labour & Employment vide notification dated 4th May 2017 has provided for electronic or 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 lakh pensioners. Now, payments will be made to the beneficiaries through electronic or fund transfer system only ensuring quick transfer of funds, easier tracking and reconciliation thereof.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22