EPFO Update: Good news for pensioners, EPFO launched a new facility, Click here to know...
There is good news for 73 lakh pensioners of Employees' Provident Fund Organization (EPFO). Now pensioners can take the help of face recognition facility to file their digital life certificate. The biggest benefit of this will be those pensioners whose fingerprints and iris are finding it difficult to match biometrics. To get pension, pensioners have to file life certificate every year. This is proof that you are alive. It is also more convenient because you can take advantage of it from anywhere.
Union Labor and Employment Minister Bhupendra Yadav launched face authentication technology for pensioners. Apart from this, the Labor Minister also launched a calculator for insurance schemes related to pension and employee deposits. Through this calculator, pensioners and their family members will be able to calculate the death benefit related to death in addition to pension online.
Training Policy of EPFO
Along with this, the Labor Minister also released the training policy of EPFO. Its objective is to make the officers and employees of EPFO a competent, accountable and future ready. Under the training policy, 14,000 personnel will be trained annually for 8 days and its total budget will be 3% of the salary budget. Along with this, the Labor Minister also released a legal framework document intending to make EPFO efficient and accountable so that litigation and its disposal can be ensured in a time bound manner.
Return investment proposal in equities
The EPFO has given a shock to the people who are expecting an increase in the interest on the PF fund. The pension body has withdrawn the proposal to increase the investment limit in equity from 15 percent to 20 percent. It was not put up for consideration in the Central Board of Trustees. EPFO trustee Harbhajan Singh said that the employees' representatives had opposed it, after which the proposal was not considered. He said that the representatives want a detailed discussion on this proposal because of the condition of the stock market.