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40K EPF Receipts Pending in Vellore

Published: 03rd September 2014 06:05 AM  |   Last Updated: 03rd September 2014 06:05 AM   |  A+A-

VELLORE: More than 40,000 annual employers provident fund (EPF) receipts are pending in the sub-regional employers provident office in Vellore.

According to Himanshu Kumar, Regional PF Commissioner (II), the process of distributing the receipts was delayed due to a technical snag. “Before this month-end, we will issue proper receipts to the EPF members,” he said.

“The portable Universal Account Number has been given to the EPF members for easy transactions so that it will help them if they switch over to another organisation. The entire pension amount will  be delivered within three to ten days after the retirement,” he added. Recently, the government of India enhanced the statutory minimum salary on which the EPF contributions are required to be paid from the present Rs 6,500 per month to Rs 15,000, with effect from September 1, the Commissioner said.

The government’s decision to fix pension entitlement of Rs 1,000 under the Employees’ Pension Scheme,1995, would benefit 28 lakh pensioners imediately, who get less than this amount. Pensioners getting less than Rs 1000 would mainly benefit from this amendment, he added.

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