Now you will get more interest on Provident Fund (PF), as well as the Employees Pension Fund (EPS) can be more. If sources are to be believed, how to make EPFO more beneficial for those working in organized and unorganized sector,
New Delhi : The government is preparing to get more returns on the amount deposited in the Provident Fund (PF) account. The Labor Panel constituted by the Parliamentary Committee will work in this direction. The Employees Provident Fund Organization (EPFO) may soon take important decisions related to this. This week the Labor panel is going to have an important meeting.
In the meeting, the panel will brainstorm the management, performance and investment of 10 trillion rupees fund under EPFO. The panel was formed only last month.
According to the investigation information, you will get more interest on Provident Fund (PF), as well as the Employees Pension Fund (EPS) may also be higher due to the impact on the EPFO due to Corona . If sources are to be believed, how to make EPFO more beneficial for those working in organized and unorganized sector,
The panel will also consider this. Fund managers have been watching EPFO funds for quite some time. Also, the decisions related to its investment also do the same. In this case, this panel will assess it. The panel member will also assess the impact on EPFO funds due to corona virus and lockdown.
Emphasis on increasing social security
The objective of the central government is to provide old age security and social security to the unorganized workers. Strengthening social security to rickshaw drivers, street vendors, head loaders, brick kiln laborers, cobblers, rag pickers, domestic workers, agricultural construction workers through the Central Government’s ambitious scheme Pradhan Mantri Shram Yogi Man-Dhan Yojana (PM-SYM) is. The central government has also included unorganized sector in EPFO. Earlier it was only for organized sector.
Pensions may increase by up to Rs 5000
, according to sources, in a meeting of the panel set up for PF fund on Wednesday to raise pension under the Employees Pension Scheme (EPS) and the amount to be paid to families in case of death of account holder There will also be discussion on ensuring availability of.
There will also be a consideration of increasing the minimum pension to Rs 5,000 monthly under the EPS scheme. Many trade unions and labor organizations have also been demanding increase in pension amount for some time.
You can get more interest on
Employees Provident Fund (EPF) and have fixed 8.5 percent interest for the year 2019-20. This is the lowest in the last five financial years. In such a situation, there is also a plan to increase it. If the panel invests in a place that offers high returns in its report, then you will also get the benefit.
You can withdraw so much money from SBI ATM card, daily limit is up to one lakh rupees
It will also be the responsibility of the panel to provide more interest in the next financial year. The interest rate for the financial year 2020-21 will be fixed in the end of December or January. Before that it can be decided based on the recommendations of the panel.
