Starting January 1, 2025, pensioners under the
Employees’ Pension Scheme, 1995, have the flexibility to access their pensions
from any bank branch in India, under the Centralised Pension Payment System.
Here are the new Employees PF Organization rules:
ATM withdrawal facility
The EPFO will soon issue ATM cards to members,
allowing 24x7 access to their provident fund savings for quicker withdrawals,
especially during emergencies.
Higher pension deadline
EPFO announced a final deadline of January 31, 2025,
for employers to submit wage details and January 15, to respond to
clarifications.
New rule for EPF death claim
The new rule allows temporary acceptance of EPF death
claims without Aadhaar seeding, subject to verification.
Change in contribution limit
EPFO is considering the removal of contribution cap,
allowing employees to contribute based on their actual salary and helping build
a larger retirement corpus.
For More Details: Pooja Manoj Gupta, visit www.giia26.com
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