The Government of India launched a monthly pension scheme known as Employee Pension Scheme (EPS) for all employees in 1995. The said scheme is a part of the Employee Provident Fund and aims to help employees build toward a financially secured retired life.
Under this scheme, government employees get monthly financial aid which helps them lead an independent retired life. However, as an employee who contributes toward the EPS, they should know about the key components and requisites of the schemes, such as pension payment order, EPS payouts, PPO status, etc. Having an idea of the same will help access the PPO scheme and make the most of the same for better financial planning.
Read along to find out more about Pension Payment Order and why it is important for EPS holders.
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What is PPO Number?
A Pension Payment Order or PPO number is issued to all pensioners under the Employee Provident Fund. Essentially, it’s a unique 12-digit code referring to the transaction ID for the transactions and communications related to the Employee Pension Scheme.
The unique 12-digit number can be broken down into –
- First 5-digit number – the code number of the PPO issuing authority
- Sixth and seventh digit – the year of PPO number issuance
- Eighth, ninth, tenth, and eleventh digit – PPO sequential number
- Twelfth digit – digital check digit
That said, let us find out why the PPO number is crucial.
Why is PPO Number Important?
A pension payment number is crucial for employees for these reasons –
- A PPO number allows you to receive and track your pension payments
- PPO number proves useful when filing any grievance with the Employee Provident Fund Organization
- The pension payment number is mandatory to get a pension in a new bank account in case the old account has been closed
- One has to provide the PPO number when submitting their annual life certificate, which keeps the pension up and running
These make it crucial for one to know their PPO number to streamline the mentioned tasks better.
How to check the PPO number?
Follow these steps to check your PPO number –
Step 1: Visit the official EPFO website
Step 2: Navigate to the ‘Services’ tab
Step 3: Click on the ‘For Employees’ option
Step 4: Click on the ‘Pensioner’s Portal’ option
Step 5: Wait to be redirected to the ‘Welcome to Pensioners’ Portal page
Step 5: Click on the ‘Know your PPO number’ on the right side of this page
Step 6: Enter your bank account or PF number
Once you have shared the required details, ky information such as PPO number, member ID, and pension type will appear on the screen.
Notably, those who have enrolled in the Employee Provident Scheme can check their PPO number this way.
Besides knowing how to check the number, it is also key to know the PPO status if you have enrolled in the EPF scheme. Invalid PPO can interrupt your pension and cause trouble in accessing the same post-retirement. Hence, check the status as soon as you enroll and ensure all the details you provide are accurate.
How to Check the Pension Payment Order Status?
You can easily check your Pension Payment Order status in these few steps –
Step 1: Go to the official website of the Central Pension Accounting Office
Step 2: Click the ‘Pensioner’ option
Step 3: Move to the ‘PPO Status’ option
Step 4: Navigate to the box beside the ‘Enter 12 Digit PPO NO’ field
Step 5: Enter your PPO number in the empty field
Step 5: Click on the ‘Submit’ button
Once you complete these steps, the PPO status will be displayed on the screen.
Steps to Download the Pension Payment Orders Online
The Government of India’s DigiLocker facility offers storage space for uploading or accessing essential documents as and when required. One can simply download their PPO online by just logging into the official DigiLocker website using their Aadhaar number.
Here are the required steps to initiate the PPO download –
Step 1: Visit the official website of DigiLocker.
Step 2: Click on the ‘Sign In’ option
Step 3: Enter your login credentials to access the account
Step 4: Enter your Aadhaar number, username, and mobile number
Step 5: Subsequently, you will receive an OTP on the registered mobile number
Step 6: Enter the OTP and the security PIN (previously generated)
Step 7: Click on the ‘Submit’ button to log in to the account
Step 8: Click on the ‘Issued Documents’ option
A new webpage will appear on the screen
Step 9: Click on the ‘Get more issued documents’ button
Step 10: Select the ‘Central Government’ tab
Step 11: Click on the ‘Employees Provident Fund Organisation’
Step 12: Click on the UAN option on the new webpage
Step 13: Enter your UAN
Step 14: Click on the ‘Get Document’ option
Step 15: The data will show up and get saved under the ‘Saved Documents’ tab
Subsequently, you can proceed to access and download the PPO from there.
Steps to know your SPARSH PPO number
Follow these easy steps to access your SPARSH PPO number
Step 1: Visit the official website of the SPARSH portal
Step 2: Log in to the SPARSH portal
Step 3: Select the e-PPO number button
Step 4: Enter bank account details
Step 5: Enter CAPTCHA
Once these steps are completed, the SPARSH PPO number will appear on the screen.
As discussed, Pension Payment Order (PPO) number is a must when applying for any pension scheme like NPS or submitting one’s life certificate. It is also required when transferring a provident fund account from one bank to another. It can even come in handy when checking exclusive NPS tax benefit or key details regarding tax exemptions. This makes it crucial to know the PPO number and keep the discussed processes in mind.
It must be noted that the Employee Provident Scheme is essentially a contribution-based scheme under the Employee Provident Fund. Both employee and employer contribute 12% of the basic salary DA toward the same. This makes it crucial for employees to track the same and ensure better financial understanding and management of the same.