Every retiring employee receives a letter from the Employees’ Provident Fund Organisation (EPFO) containing information of a Pension Payment Order (PPO) for provident fund and pension payout. It serves as a point of contact for all communications with the Central Pension Accounting Office (CPAO).
The PPO number is useful when applying for a pension. Furthermore, this PPO number must be mentioned every year while presenting a life certificate. A PPO number serves as a point of reference for every message sent to CPAO.
The Employees’ Pension Scheme (EPS) assigns a unique Pension Payment Order (PPO) number to each pensioner. Each pensioner’s 12-digit PPO number is unique and is used as a reference number in all interactions.
What is the number of a Pension Payment Order (PPO)?
The first five digits of each PPO reflect the PPO Issuing Authority’s code number, the following two digits show the year of issue, and the next four digits indicate the PPO’s sequential number, with the last digit functioning as a computer check digit, according to the Central Pension Account Office.
How to find your PPO number
Step 1: Go to www.epfindia.gov.in and create an account.
Step 2: Select the Pensioner’s Portal from the Online Services menu.
Step 3: You’ll be taken to the “Welcome to Pensioners Portal.” On the right side of the website, click the ‘Know your PPO number’ link.
Step 4: Either your bank account number or your PF number should be entered.
After submitting the required information, you will be given your PPO number, as well as your Member ID and pension type.
When filing for a pension and presenting one’s yearly life certificate, the PPO number is required. If you don’t know your PPO number, transferring your PF account from one bank branch to another can be difficult.
How much money is put into EPS?
Each month, the employee contributes 12% of his base wage + dearness allowance to his EPF account, and the employer matches the employee’s contribution. As a result, the employee’s EPF account receives a total of 24 percent of his or her pay.
The EPF account receives the employee’s portion (12%) and the employer’s 3.67 percent of the total 24 percent contribution, while the Employees’ Pension Scheme (EPS) account receives the remaining 8.33 percent of the employer’s share.
According to EPFO’s most recent circular, pensions will now be credited to pensioners’ accounts on or before the final working day of the month (except for the month of March that shall continue to be credited on or after 1st April).
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