Facilities to Retiring Persons: Settlement of PF/EFP, Gratuity etc.
GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
LOK SABHA
UNSTARRED QUESTION NO: 67
ANSWERED ON: 17.07.2017
Facilities to Retiring Persons
SUKENDER REDDY GUTHA
Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:-
(a) whether the Government has decided to settle the PF/EPF, Gratuity etc. of the retiring person on the day of retirement itself; and
(b) if so, the details thereof along with the steps taken/being taken in this regard?
ANSWER
MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI BANDARU DATTATREYA)
(a) & (b): Directions have been issued by Employees’ Provident Fund Organisation (EPFO) to all its field offices to make the payment of Provident Fund and Pension to members of Employees’ Provident Funds (EPF) Scheme, 1952 and Employees’ Pension Scheme (EPS), 1995 on the date of retirement itself.
As regards settlement of gratuity, as per Payment of Gratuity Act, 1972, the employer shall arrange to pay the amount of gratuity within thirty days from the date it becomes payable to the person to whom the gratuity is payable
Source: http://loksabha.nic.in/