Employees’ Provident Fund Organisation (EPFO) on Tuesday said it has released Rs 764 crore to its pensioners for the month of April through all the nodal branches of pension disbursing banks across India amid nationwide COVID19 lockdown.
EPFO has 65 lakh pensioners under its pension scheme.
“All 135 field offices of EPFO processed pension payment for April, 2020 in advance to avoid inconvenience to pensioners on account of nationwide Covid-19 lockdown,” said Union Ministry of Labour & Employment in a statement.
“EPFO officers and staff battled all odds to send Rs 764 crore to all Nodal Branches of pension disbursing banks throughout India,” the ministry confirmed in the statement.
All bank branches have been directed to ensure credit of pension in the accounts of pensioners on schedule.
Timely credit of pension in this hour of need has been accorded top most priority by EPFO to bring succor to the pensioners during the COVID19 crisis, the ministry said.
EPFO is one of the world’s largest social security organisations in terms of clientele and the volume of financial transactions undertaken.
The organization currently maintains 19.34 crore accounts (Annual Report 2016-17) pertaining to its members.