new Delhi. The Employees Provident Fund Organization is preparing for more pension for small employees with a total salary of up to ₹ 15,000 in the private sector of India.
All such employees are given pension under the EPS 95 pension scheme. The government is considering that they should be given a minimum fixed pension.
There are 68 lakh employees in the organized private sector in India whose salary is less than ₹ 15,000 per month and are covered under the EPS 95 pension scheme. Out of their salary, 8.33 percent contribution is deposited in the EPS 95 pension scheme. Due to this, minimum ₹ 1000 and maximum ₹ 7500 pension is made to these employees. Preparations are being made to increase this pension.
In fact, Rs 58000 crore deposited with the Employees’ Provident Fund Organization from the salary of such employees is such, which was not withdrawn by the employees. That is, there was a deduction for EPF from the salary of the employees, but after leaving the job, the employee did not withdraw his deposit by contacting the EPFO.
Employees’ Provident Fund Organization has appealed to withdraw their money by issuing public notice several times, but there was no response from the employees. Now this money is going to be used to increase the pension of the existing employees.
