What is the impact of EPFO’s extension of higher pension on employees
The Employees’ Provident Fund Organisation (EPFO) has extended the deadline for applying for a higher pension.
- Improved financial security: Employees who have retired or about to retire will have a higher monthly pension, which can significantly improve their financial security in their golden years.
- Effective implementation of the Supreme Court ruling: The decision to extend the deadline for applying for higher pension ensures that more employees can benefit from the Supreme Court ruling, which ordered the EPFO to provide a higher pension to its members.
- Increased transparency in the pension process: The extension of the deadline gives enough time to eligible employees to apply for the higher pension and ensures that there is transparency in the process of granting the higher pension.
- Boost in employee morale: The decision of the EPFO to extend the deadline for applying for higher pension is likely to boost employee morale, as it provides a sense of security and comfort in times of financial need.
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a year ago