look news india
There may be good news regarding salary and pension for lakhs of pensioners and crores of employees of the country. According to the information, after the approval of the proposal to increase the salary limit for the pension fund under EPFO, the contribution of both PF and pension may increase. It is worth noting that earlier the central government had announced a unified pension scheme for government employees. In such a situation, good news can also come for private sector employees.
So private sector employees will benefit
According to media reports, the Finance Ministry can take a decision on increasing the salary limit. The Ministry of Labor has revised the salary limit from the current Rs. 15,000 to Rs. 21,000 has been proposed. Which was sent in the month of April. The Employee Pension Scheme i.e. EPS is operated by EPFO. From September 1, 2014 i.e. for about a decade, the salary limit for EPS is Rs 15 thousand. Increasing the salary limit will greatly benefit the employees of the private sector and they will get better benefits. Now the ministry can take a decision on this soon.
So how will you benefit?
According to media reports, as per the proposal given by the Ministry of Labor, the salary limit will be increased from Rs 15 thousand to Rs 21 thousand. This decision will increase the pension and EPF contribution of employees working in the private sector. If the salary limit is Rs. 21 thousand then the pension amount will increase automatically and you will get more money after retirement. Apart from this, due to increase in the salary limit, more and more employees will come under its purview. Also, you will get more money after retirement.
Demand for increase in monthly pension
On the other hand, a delegation of employees associated with EPS, 1995 met senior officials of the Employees' Provident Fund Organization (EPFO) on Tuesday and reiterated their long-standing demand for a minimum monthly pension of Rs. 7,500. The EPS-95 National Movement Committee (NAC) said in a statement that its delegation also demanded the EPFO to provide full medical coverage for EPS members and their spouses. Committee chairman Ashok Raut said that we have received an invitation from the EPFO for a meeting. The purpose of the meeting was to resolve the pending demands of the pensioners.
Mansukh Mandaviya assured
He said the EPS-95 NAC members are protesting demanding a monthly pension of Rs 7,500 instead of the average monthly pension of only Rs 1,450 at present. Raut said pensioners have been demanding an increase in the minimum pension for the last eight years, but the government has not paid heed to their demands. In early August, Labour and Employment Minister Mansukh Mandaviya assured in a meeting with representatives of the EPS-95 NAC that the government will take necessary steps to meet their demands. The EPS-95 NAC represents around 78 lakh retired pensioners spread across the country and 7.5 crore employees employed in industrial sectors.
