EPFO Pension: Union Labor and Employment Minister Dr. Mansukh Mandaviya said on Monday that changes are being considered in the rules of the Pension Scheme of EPFO.
Under this, employees can get the option to convert the amount deposited in their PF accounts into pension funds. He said that it is necessary to provide more options for social security to the employees under the Employees Provident Fund.
Mandaviya also said that if an employee wants to convert his PF amount into a pension fund after retirement, it can increase his pension amount. The government is seriously considering this and is likely to take steps in this direction in the future. About 20 lakh new employees have joined EPFO in July, which is the highest figure so far this financial year. Of these, 10.52 lakh employees are those who have started a job for the first time and have registered with EPFO.
Also Read: Post Office’s great FD Plan: You will get ₹30,00,000 on investment of ₹10,00,000, Know…
EPFO portal will work like a bank website
Regarding the solution of problems related to the EPFO portal, the minister said that efforts are being made to make it like a banking website. In the next six months, extensive improvements will be seen in this portal, which will enable employees to get all the services at one click. The entire system is being improved in this direction.
Mandaviya also talked about new employment opportunities in the semiconductor sector. He said that there is a possibility of huge employment opportunities being created in the semiconductor industry, as many companies in India are being motivated to invest in this sector.
Related Articles:-
Public holiday list for 2025 released, there will be 17 restricted and 34 Gazetted holidays
Govt issues new rules for Sukanya Samriddhi Yojana (SSY), will be implemented from October 1
