Discover How the EPFO's PRAYAS Scheme initiative can help you get your Pension Payment Order (PPO) on the day of your retirement, simplifying the pension process. Learn the steps to take advantage of this unique facility.
Benefits of Receiving the PPO on the Day of Retirement
With the PRAYAAS scheme, EPFO members can now receive their Pension Payment Order (PPO) on the day of retirement itself.
This eliminates the lengthy and often delayed process of obtaining the PPO, providing a seamless transition into retirement.
Improving the Pension Process with PRAYAAS
The PRAYAAS initiative, launched by EPFO on July 21, 2020, aims to streamline the pension claim process. Through monthly webinars and proactive engagement, EPFO is promoting this scheme to ensure members are prepared to submit their advance pension claims and receive their PPOs on the day of retirement.
Steps to Ensure Your PPO is Ready on Retirement Day
- To take advantage of the PRAYAAS scheme, follow these steps:
- Verify the accuracy of your EPF account details and get any errors corrected through your employer
- Ensure all your EPF accounts are consolidated under a single UAN, even if you've worked for different units of the same company
- Fill out the claim in Form 10D and attach all required documents, getting it certified by your employer
- Submit the completed claim to the concerned EPF office at least 20 days before your retirement date
Tracking the Status of Your PPO under PRAYAAS
EPFO conducts regular webinars at the regional office level to provide updates and guidance on the PRAYAAS scheme. Retiring members can participate in these webinars to stay informed about the status of their PPO and any additional requirements.
Documents Required for the PRAYAAS Initiative
The key documents required for the PRAYAAS scheme include the completed Form 10D, along with supporting documents such as proof of identity, date of birth, and employment details. Your employer's certification is also necessary. By following these steps and taking advantage of the PRAYAAS initiative, EPFO members can now look forward to a seamless and efficient pension process, receiving their Pension Payment Order on the day of their retirement.
FAQ about EPFO Prayas Scheme
What is the Prayaas scheme?
The Prayaas scheme is an initiative by the Employees' Provident Fund Organisation (EPFO) to release the pension amount to retiring employees on the day of their retirement.
What are the benefits of the Prayaas scheme?
The key benefits of the Prayaas scheme include:
- Receiving the Pension Payment Order (PPO) on the day of retirement
- Seamless pension disbursement through the retiree's bank account
- Reduced documentation hassle
- Convenience of submitting the Online Life Certificate anytime
How can I ensure my EPF details are accurate before retirement?
To ensure your EPF details are accurate, you should:
- Verify the details in your EPF account
- Get any errors corrected through your employer
- Watch the video on joint declaration for more information
What if I have multiple EPF accounts?
If you have worked for multiple employers, ensure all your EPF accounts are consolidated under a single Universal Account Number (UAN), even if they were for different units of the same company.
How do I fill and submit Form 10D?
To fill and submit Form 10D correctly:
- Fill the form with all required details and attach supporting documents
- Get the form certified by your employer
- Submit the completed form to the concerned EPF office at least 20 days before your retirement date
What documents are required for the Prayaas initiative?
The key documents required for the Prayaas scheme include:
- Completed Form 10D
- Proof of identity, date of birth, and employment details
- Employer's certification of the pension claim
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