The full form of PPO is Pension Payment Order. In 1995, the Indian government launched a monthly pension scheme for all employees. This scheme is regarded as the Employee Pension Scheme, which is a significant part of the EPF scheme.
Under the EPF scheme, every government employee will be able to leverage the benefits of a monthly pension scheme where they will receive financial benefits after their retirement. If you have a pension, you need to know about the Pension Payment Order.
What is PPO Number?
The Pension Payment Order is provided to every pension holder under the scheme of EPF. The PPO number consists of 12 digits that ultimately refer to a specific transaction ID for the transactions and communications as per the EPS scheme. The breakdown of the PPO number is:
- The first 5 digit of the PPO number showcases the code number of the authority
- The 6th and 7th number showcases the code number of the authority showcasing the PPO
- The 8th, 9th, and 10th number showcase the sequential number for the PPO
- The last digit showcases the digital checklist
Importance of PPO Number
This is one of the most important pieces of information you need to know. Keep in mind that the PPO number is extremely important for all government employees. Here are the reasons behind the importance of PPO number:
- With the help of a PPO number, you will receive as well as keep proper track of your pension money
- The PPO numbers will prove beneficial while filling for grievances with EPFO
- If you want to receive your pension in your new bank account, you need the PPO number
- While submitting the annual life certificate, PPO is mandatory, which will keep your pension scheme running
How Can You Download PPO Online?
With the help of the DigiLocker facility from the Indian government, you will be able to access as well as upload important documents when required. You can also log into your DigiLocker website through your Aadhar card number to download your PPO
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