EPFO to make all payments to members electronically

The labour ministry has amended the social security schemes run by the retirement fund body Employees' Provident Fund Organisation (EPFO) to enable it to make all payments — pension, provident fund and insurance — to members electronically."The labour ministry has amended the schemes run by the EPFO by a notification. This will enable the Employees' Provident Fund Organisation to make all payments like EPF and pension through digital mode," an official said.It was provided in the schemes run by the EPFO that the body can make payments to its subscribers through various modes like money order, cheques or electronically.

Business Standard New Delhi, 09th May 2017

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Credit card spending growth declines on RBI gaze, stress build-up

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