The Employees’ Provident Fund Organisation, Regional Office, Kochi, handed over pension payment orders to two employees of FACT on Thursday, the day they retired from service.
This was made possible by an initiative named PRAYAAS, which seeks to release PF pension on the day of superannuation of members.
Samom Dinachandra Singh, Regional Provident Fund Commissioner-l, handed over the pension payment orders to the retiring employees, Sanandanan K.S. and Ebrahim V.M. in the presence of Sakthimani S., Director (Finance) at FACT.
The PRAYAAS scheme was launched to do away with lengthy documentation and the long wait for pension. Early release of pension is achieved by asking employees and employers to complete the documentation process well before the date of retirement, said a press release.
Mr. Singh appealed to PF members to submit their e-nomination without delay so as to ensure filing of online pension claims by members for prompt settlement.