Pensioners can be at peace – You can receive extra money!!!

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A complaint arose that the pensioners of the Employees Provident Fund Organisation haven’t received their pension before the last date. For this, EPFO has released a circular.

  • In that, it is said that actions will be taken to receive the pension before the last date of the month for the pensioners.
  • Also, pension money will be sent to the respective banks prior to two days of the pension date.
  • So, it is instructed to all the PF office and banks to follow the norms respectively.
  • Every month pensioners will receive their money before the last date, says EPFO.

If the banks fail to provide the pension on the date, banks must pay the penalty of 8% of the rate of interest per annum for the dues. This is the rule of RBI.

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This penalty amount will be transferred directly to the bank account of the pensioners.

So EPFO has given a great solution to the suffering of the pensioners. Hereby they will receive the penalty amount if the pension is delayed.