Ministry of Labour & Employment

• EPFO making all-out efforts to publicize the process of joint option which can be submitted online till 03rd May, 2023
• More than 8,000 members have applied online as on date
• Circular dated 20th February 2023 adheres to provisions of the Scheme and complies with Supreme Court orders

04 MAR 2023

The online joint (employee and employer) option form with the necessary documents has been hosted by EPFO in the unified portal for contributing on higher salary to the EPS-95. The form paves the way for giving effect to the SC order dated 04.11.2022, while adhering to the basic scheme provisions. More than 8,000 members have already applied online as on date though the submission deadline is 03rd May, 2023.

Since, the contributions of both the employee and employer on higher wages are involved, the EPF and EPS-95 schemes require the joint request when they contribute on higher salary. This is not a new requirement and predates the EPS-95 and the position has been affirmed by SC in the RC Gupta case stating that it is a necessary pre-cursor for exercising joint option on higher salary under EPS.

The circular dated 20th February 2023 adheres to the provisions of the Scheme and complies with the Supreme Court orders. The correct assessment of contributions and their deposit and diversion to Pension Fund, the past services rendered and the remittances made are necessary for correct calculation of the benefits and valuation of the Pension Fund. The EPFO closed the options on 4th of March 2023 for the retired EPS members (prior to 01.09.2014 and whose options were not considered earlier). It has received 91,258 online applications from this category of employees as on 04.03.2023.

EPFO has been making all-out efforts to publicize the process of joint option which can be submitted online till 03rd May, 2023. In respect of persons who were EPF members as on 01.09.2014, The online applications are being preferred by the employees since 27th February,2023 and already 8,897 members have applied to their employers.

PIB

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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.

Lok Sabha

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Employees Pension Scheme

04 APR 2022

The 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-95 came into force on 19.11.1995. Review and revision of schemes is an ongoing process. The provisions of the EPS-95 are 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-95 are as under:

• Increase in wage ceiling from Rs. 6500/- to Rs.15000 per month from 01.09.2014.
• 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.
• 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.

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.

The Code on Social Security, 2020 (36 of 2020), was notified on 29.09.2020, which subsumes 9 Central labours 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 not yet come into force.

This information was given by the Minister of State for Labour & Employment, Shri Rameswar Teli in a written reply in Lok Sabha today.

PIB

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All-India EPS-95 Pensioners Sangharsh Samiti will take out a march from the Jantar Mantar to the Prime Minister’s Office (PMO) in Delhi on February 27 for the minimum monthly pension of Rs 7500 under the scheme.

EPS-95 pensioners from all over the country have been agitating on the issue of raising their pension since the last three years, but the Centre has done nothing except giving hollow assurances, a statement said Friday.

“As per a Supreme Court order, EPS pensioners should be given a higher pension. At present they are getting the pension in range of Rs 200 to Rs 2500 per month, which is meagre in view of rising inflation,” the Sangharsh Samiti’s Bhopal coordinator R A Dharkar stated.

He said the pension amount should be raised to minimum Rs 7500 per month apart from the DA (Dearness Allowance).

“A rally will be taken out on February 27 from Jantar Mantar to the office of the Prime Minister for our demands,” the release stated.

The Samiti also seeks better medical facilities to the EPS-95 pensioners and their spouses. It also wanted that those retired employees who are not part of the scheme be brought under its ambit.

Dharkar claimed the Central government had only given hollow assurances to pensioners.

EPS or Employee Pension Scheme, which was brought into force in the year of 1995, is a guaranteed pension plan supported by the government, wherein the stipulated amount will be remitted to the employee upon retirement, without any changes to the same.

PTI

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Government today approved the proposal to ensure Rs 1,000 minimum monthly pension under a scheme of retirement fund body EPFO that would immediately benefit 28 lakh pensioners.

The decision to provide the entitlement under Employees’ Pension Scheme-95, run by the Employees’ Provident Fund Organisation, was taken by the Union Cabinet in its meeting held here.

The move will immediately benefit about 28 lakh pensioners including five lakh widows. There are 44 lakh pensioners.

Source: Central Government Staff News
[http://centralgovernmentstaffnews.blogspot.in/2014/02/government-approves-rs-1000-min-monthly.html]

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