EPFO centralises online payments with One IP Two Dispensaries scheme and Aadhaar based online claim submission

EPFO centralises online payments with One IP Two Dispensaries scheme and Aadhaar based online claim submission

EPFO, the retirement fund body has brought another recent change. Moreover, according to reports, it is a May Day Gift for 2017. The Labour Minister, Bandaru Dattatreya announced new change recently. Even some experts say that this change may be best. Some time ago, EPFO announced steps for NPS to EPF shift possible in future.

One IP Two Dispensaries change in ESIC scheme

As per this new scheme. Employees’ Provident Fund centralises online payment system. In addition, this system will start in May 2017 only. Plus EPF claim settlement time will decrease to 10 days. Therefore, it will only help people and specifically EPF subscribers.

Presently centralising online payments will start from Delhi, capital of India. Furthermore, this will happen through State Bank of India. However, other banks will also join this system. Additionally, reducing claim settlement time of EPFO claims. This step will help almost everyone.

Apart from that Employees’ Provident Fund Organisation. This organisation made other changes as well. Earlier it announced medical aid. Moreover, as per this, EPFO can withdraw EPF balance. However, they must use this amount only for treatment of severe diseases.

Second, EPF announced home loan scheme. And as per this scheme, EPFO members can withdraw 90% of balance in EPF account. Thus, it will help members of provident fund organisation. However, members must follow rules. Because these rules make complete process easy.

Aadhaar based online claim submission launched and One IP – Two Dispensaries launched

Apart from One IP – Two Dispensaries scheme. The Labour Minister also launched another scheme. Moreover, this scheme is Aadhaar based online claim submission. Again launch of second scheme happened on International Labour Day itself.

What is One IP – Two Dispensaries scheme?

As per the One IP – Two Dispensaries there is an option. Furthermore, according to this option Insured Person or IP has benefit. Because IP can select two dispensaries. In addition, one dispensary is for family. Whereas other one is for self. Finally, this scheme is through the employer only.

Thus, with this scheme family can also have medical benefits. All this comes under ESIC. Therefore, from now there will not be a problem to family members as well. In addition, One IP – Two Dispensaries allow family members of subscribers.

Because they can get treatment from dispensaries. While in case of emergencies they can approach ESIC institutes. Hence, this is one of the best things happening.

What is Aadhar based online claim submission?

We already told you that you can link Aadhar card with EPF account. As there are many benefits if you do this. Moreover, when EPF account seeds with Aadhaar number. Then applying for PF settlement is easy.

In addition, it will be easy for pension withdrawal also. Therefore, members can do this process online. Hence, it will be easy for both employers and employees. But for this you must go to EPF UAN portal. As you will know in detail about things there.

It was Mr. Dattatreya who announced these things. Finally, it is now possible for you to Download EPF passbook to track and check EPF balance. Earlier EPF announced 8.65% interest rate. Thus, provident fund account gives you many benefits.

We must now wait and see what will be next latest news of EPF. Even there was announcement of transfer of funds from NPS to EPF. Currently it is about centralising payments of EPFO.

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