Employees’ Pension Scheme (EPS), 1995 – Latest updates about revision of scheme and court case

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Employees’ Pension Scheme (EPS), 1995 – Latest updates about revision of scheme and court case

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Employees’ Pension Scheme (EPS), 1995 - Latest updates about revision of scheme and court case GOVERNMENT OF INDIA MINISTRY OF LABOUR AND EMPLOYMENT

National Pension System: फ्रीज हो चुके NPS खाते को दोबारा कैसे कराएं चालू, ये है पूरी डिटेल
New pension system: OPS in lieu of NPS to all Govt servants – Request for positive early action
Amendment in the Employees’ Provident Funds & Miscellaneous Provisions (EPF and MP) Act, 1952

Employees’ Pension Scheme (EPS), 1995 – Latest updates about revision of scheme and court case

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
LOK SABHA

UNSTARRED QUESTION NO: 207

ANSWERED ON: 18.07.2022

EPS-95 Scheme

Rajmohan Unnithan
Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:-

(a)whether it is a fact that 30 lakhs of eligible pensioners have not yet received the minimum pension of Rs.1,000 even since introduction of the term PF Pension;

(b)whether the Government has taken steps to review and revise the EPS-95 scheme every ten years and if so, the details thereof and if not, the reasons therefor;

(c)whether the Supreme Court has constituted a three-member bench to inquire into the non-payment of pensions to the retiring workers and if so, the details thereof; and

(d)whether the Government is working on a comprehensive revision of the PF pension and if so, the details of the plan to implement the same in near future?

ANSWER

MINISTER OF STATE FOR LABOUR AND EMPLOYMENT
(SHRI RAMESWAR TELI)

(a): No, Sir.

(b): The Employees’ Pension Scheme (EPS), 1995 has been framed by the Central Government in accordance with the powers conferred by section 6A of the Employees’ Provident Funds and Miscellaneous Provisions (EPF and MP) Act, 1952. The EPS, 1995 came into force on 19.11.1995. Review and revision of schemes is an ongoing process. The provisions of the EPS, 1995 have been reviewed from time to time based on the recommendations of the Expert Committee and the High Empowered Monitoring Committee as well as taking into account the actuarial evaluation of the Employees’ Pension Fund. Some of the important amendments made in EPS, 1995 are as under:

(i) Increase in wage ceiling from Rs. 6500/- to Rs.15000/- per month from 01.09.2014.

(ii) Provision of a minimum pension of Rs. 1000 per month to the pensioners under EPS, 1995 from 01.09.2014 by providing additional budgetary support wherever the pension was falling short of Rs.1000 as per pre-defined formula for calculation of pension.

(iii) Restoration of normal pension after completion of fifteen years from the date of such commutation, in respect of those members who availed the benefit of commutation of pension under the erstwhile paragraph 12A of the EPS, 1995, on or before 25.09.2008 vide notification G.S.R.132(E) dated 20.02.2020.

(c): The Union of India and the Employees’ Provident Fund Organisation (EPFO) have challenged the judgement dated 12.10.2018 of Hon”ble Kerala High Court, which set aside the 2014 amendments to the EPS-95, in the Hon’ble Supreme Court. The Hon’ble Supreme Court vide its order dated 24.08.2021 in Special Leave Petition (C) Nos.8658- 8659 of 2019 and other connected cases directed to refer the matters to a Bench of at least three Judges. The matter is now sub-judice.

(d): The Code on Social Security, 2020 (36 of 2020), was notified on 29.09.2020, which subsumes 9 Central labour laws including the EPF and MP Act, 1952. Section 15 of the new Code envisages to frame various schemes including pension for the employees and their family members. However, the said Code has yet to come into force.

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employees-pension-scheme

Source: Lok Sabha PDF

COMMENTS

WORDPRESS: 27
  • rajnath yadav 2 weeks ago

    epf pension should be calculated on full salary at the time of retirement .it should not be calculated on 15000 ceiling.

  • SRINIVASAN.R 2 weeks ago

    Pl help us in getting full minimum penshion of Rs10000/per month we worked in private company employees are suffering lot with this old lowest pension. We request the Central Government to increase the pension upto 10,000/- it help us to live peacefully. Expecting a favourable amendment.

  • Rajan savlo purkhe 2 weeks ago

    My pf amt. contributed in vashi epf office by guardian facility management (nagpur)pvt.ltd is not yet merged to my present epf account although my uan no. same in goa Ie.100293211878 after reminding in office. Please look in to
    the matter.

  • Ashvin Shah 2 weeks ago

    Nothing has been done so far to increase the paltry 1000 pension to eps 95 pensioners
    Whereas government employees DA and perks increased mani fold…
    This is gross injustice to millions of employees working in private firms without any support from the government
    What are trade unions doing?
    They should fight for the employees to get increase in pension hike…

  • sukumar chakraborty 2 weeks ago

    Respected, Hon’ble Prime Minister,

    Please try to increased minimum EPS 95 pension (Rs.5000 – 9000) within a short period so that I can goodbye the World with a smile face.

    • Satyanarayana t 3 hours ago

      నేను eps 95 ద్వారా 96 లో రిటయిర్ అయినాను నాకు ఇప్పుడు పెంక్షన్ వర్తిస్తుంది నేను పెంక్సన్ స్కీం ద్వారా 1000/- పొందుయున్నాను. పెరుగుదల నాకు వర్తిస్తుందా?

  • अशोक शर्मा 2 weeks ago

    मुझे 770 रुपये पेंशन मिल रही है, जब कई राजयों मे वृद्धा पेशन 2500 से 3000हजार मिल रही है, कितना अन्याय हो रहा है हमारे साथ, पर हमारी सुनने वाला कोई नहीं है। हमारी पेशन कम से कम 10000रुपये प्रति माह होनी चाहिये

  • Varsha 2 weeks ago

    There is tremendous problem In eps 95 pension. All concert dept foolish to pensioners at old age. Nobody have a gut or wish and will to solve very easy problem. PMO has power to solve the issue without
    consulting anybodys order.25 percent pensioner already died due to medicine and food. Therefore, requested to PMO look in this matters and increase the pension in between 21 to 27 thousand per month to recoup the food, medicine etc expenditure.

  • P.S. Krishnan kutty 2 weeks ago

    Sir, I am having 30 years of service in different Private sector compaies and was a member of EPF scheme. Due to lack of record reconciliation i am not getting my full pension. Instead i am getting a meager amount of Rs.1146/-p.m since retirement i.e from Nov. 2010. I have taken it up with my erstwhile employer and epf office but nothing has happend. If the minimim amount is increased to reasonable amount i will be happy.

  • Partha 2 weeks ago

    Nothing touch the heart of present day rulers. They will delay the matter in the mask of legal litigation in reality price of all food products by at least four times while this act was framed pand most of the medicines becoming costlier every year 🙏

  • Umesh 2 weeks ago

    Many of us who took VRS from HMT are getting less than 900 even as of now. Will be at all get the higher amount or not.

  • Siddesha b s 2 weeks ago

    I had been disturbed due to sudden decline in my salary 54000 to 3669 as pension. We had been paid rs 540 to 1800 per month since 1996. How it is nt increasing in pension salb, will u think we have to take only air to Live,wo food & wtr, treatment, bca we had eligible to take green card, food supply, medical benefit,
    So let we r nt citizens of india

  • Abu Jafar Mondal 2 weeks ago

    Till today I did not get any information from concern department that my original SCHEME CERTIFICATE bearing no MH/BAN/58275 had been merged with current PF A/C no.MH/VASHI/116916/32. Pls update my matter.

  • Ajay Lal 2 weeks ago

    Minimum amount must be increased , also a provision for revsion is minimum pension every five years should be there

  • CLEDWYN.J.A.MONTEIRO 2 weeks ago

    I have still not rcvd my pension from the Kandivali PF office Mumbai even though Bandra PF office Mumbai had sent intimation to Kandivali PF office on 7th June 2022 by SPEED POSTto release my pension (a copy was also sent to me for followup with Kandivali PF office) I had visited the Kandivali PF Office but every time they keep on giving excuses. I cannot comprehend as to why they cannot settle my pension. I had applied on 10th March 2021 along with my scheme certificates

    Kindly look into this as many pensioners who visit Kandivali PF office has the same issue

  • Subrata 2 weeks ago

    EPF 95 monthly pension should be increased minimum Rs.15000.00/month
    govt.should consider in accordance to inflation and the tax increased.

  • Akshayakumar 2 weeks ago

    I am ashamed to disclose the amount of pension i am getting. It is high time central government do something on this.

  • Kamala 2 weeks ago

    Yes the pf pensioners need increase in the amount fromm Rs. 1000/- to a reasonable amount.

    Mr. Modi, please help us also live happily, not dependent.

    • S.p sharma 3 days ago

      Sheesh pal sharma sir we are getting the pension only Rs 3384 p/m ,when we have continue service thairty three years and continew contribution .our age sixty two years our wife tretment continue like sugar,v.p etc and p/m madicine charge approximate six thousand and other expension like milk .elect.bill.water bill .we are suffaring very helpless maintain the faimly.so we all request to Govt of India as soon pension should be increased.

  • Abhijit 2 weeks ago

    Enough is written and discussed with revision and increas in EPS 95 scheme. I want to know it will be increased at all to minimum Rs 9000 or anything close to this amount.

  • Arvind Kumar Bhatt 2 weeks ago

    Good information for pension 95 will be
    Increased or not

  • Andre 2 weeks ago

    Mr Narendra Modi Our Honorable PM,pl look into the matter of the EPS 95Pension Scheme and increase the minimum Pension to retired people of RS 10000 as many of us old and retired people are suffering since many years still waiting for the govt Declaration.

  • Vishram G Naik 2 weeks ago

    Sc, goi, ep office will continue to fool eps pensioners

  • Sunil 2 weeks ago

    Please Help senior citizens to increase the minimum pension 10000/pm

  • subbiah pillai 2 weeks ago

    Welcome

  • Ch. prakash rao 2 weeks ago

    Pl help us in getting full minimum penshion of Rs10000/per month

  • Swapan Chakraborty 2 weeks ago

    Good