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Now, EPFO to make all payments to members electronically

For this, govt has ammended social security schemes of EPFO

Press Trust of India  |  New Delhi 

EPFO

The has amended the social security schemes run by the retirement fund body Employees' Organisation (EPFO) to enable it to make all payments — pension, and — to members electronically.

"The has amended the schemes run by the by a notification. This will enable the Employees' Organisation to make all payments like and through digital mode," an official said.



It was provided in the schemes run by the that the body can make payments to its subscribers through various modes like money order, cheques or electronically.

The official said, "The scheme has been completely amended and the provision of making payments through money order or cheques has been omitted from the schemes. Thus all payments would be made through electronic mode."

Explaining further, the official said, "Though the had been making 98 per cent of its payments through electronic mode, there were some field offices which were using other modes like cheque and money orders."

The official also informed that the decision to go 100 per cent digital for payments, was taken after some complaints were received for ensuring complete transparency.

The has over four crore subscribers and receives 1 crore claims every year including that of withdrawal, fixation and claims.

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Now, EPFO to make all payments to members electronically

For this, govt has ammended social security schemes of EPFO

For this, govt has ammended social security schemes of EPFO The has amended the social security schemes run by the retirement fund body Employees' Organisation (EPFO) to enable it to make all payments — pension, and — to members electronically.

"The has amended the schemes run by the by a notification. This will enable the Employees' Organisation to make all payments like and through digital mode," an official said.

It was provided in the schemes run by the that the body can make payments to its subscribers through various modes like money order, cheques or electronically.

The official said, "The scheme has been completely amended and the provision of making payments through money order or cheques has been omitted from the schemes. Thus all payments would be made through electronic mode."

Explaining further, the official said, "Though the had been making 98 per cent of its payments through electronic mode, there were some field offices which were using other modes like cheque and money orders."

The official also informed that the decision to go 100 per cent digital for payments, was taken after some complaints were received for ensuring complete transparency.

The has over four crore subscribers and receives 1 crore claims every year including that of withdrawal, fixation and claims.
image
Business Standard
177 22

Now, EPFO to make all payments to members electronically

For this, govt has ammended social security schemes of EPFO

The has amended the social security schemes run by the retirement fund body Employees' Organisation (EPFO) to enable it to make all payments — pension, and — to members electronically.

"The has amended the schemes run by the by a notification. This will enable the Employees' Organisation to make all payments like and through digital mode," an official said.

It was provided in the schemes run by the that the body can make payments to its subscribers through various modes like money order, cheques or electronically.

The official said, "The scheme has been completely amended and the provision of making payments through money order or cheques has been omitted from the schemes. Thus all payments would be made through electronic mode."

Explaining further, the official said, "Though the had been making 98 per cent of its payments through electronic mode, there were some field offices which were using other modes like cheque and money orders."

The official also informed that the decision to go 100 per cent digital for payments, was taken after some complaints were received for ensuring complete transparency.

The has over four crore subscribers and receives 1 crore claims every year including that of withdrawal, fixation and claims.

image
Business Standard
177 22