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Thursday, December 13, 2012

Amendment in EPF Pension Scheme


A proposal of the Pension Implementation Committee (PIC), a Sub-Committee of the Central Board of Trustees, Employees’ Provident Fund (EPF) to enhance the minimum pension under Employees’ Pension Scheme, 1995 to Rs. 1000 is under consideration of the Government. The issue of enhancing wage ceiling for coverage under the Employees’ Provident Funds Scheme, 1952 has been discussed in meetings of Central Board of Trustees, Employees’ Provident Fund. However, Government is yet to take a final view in the matter. 

There is no proposal to reduce the number of workers to 5 instead of 20 for coverage under Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.



The above statement was submitted by MoLE in reply of undermentioned Rajy Sabha question:

GOVERNMENT OF INDIA
MINISTRY OF  LABOUR AND EMPLOYMENT
RAJYA SABHA
UNSTARRED QUESTION NO-2134
ANSWERED ON-12.12.2012
Amendment in EPF Pension Scheme
2134 . SHRI RAMACHANDRA KHUNTIA

(a)whether Government is planning to bring amendment in Employees Provident Fund (EPF) Pension Scheme to enhance the quantum of monthly pension as the benefit in other scheme is highest than the present pension scheme and also increase the coverage limit to Rs. 15,000 per month and reduce the number of workers to 5 instead of 20 for coverage; and
(b)if so, the deatails thereof?
ANSWER

MINISTER OF STATE FOR LABOUR AND EMPLOYMENT
(SHRI KODIKUNNIL SURESH)
(a) & (b):  *** see above ***

Source: Rajya Sabha Q&A


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1 comment:

  1. By implementation of minimum pension of Rs.1000/-, the marginal benefit is ranging from Rs.500/- to Rs.700/-. Then is there any slab fixation for the pensioners who are drawing Rs.1000/- and Rs.1500/-.

    ReplyDelete

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