Pension News Update: There is good news for lakhs of pensioners of the country. If you too had not applied for getting more pension till May 3, then now you do not have to worry at all.
You are being given another chance to get more pension from the Central Government. Yes… Now you can apply for more pension till 26th June. Along with this, the Labor Ministry has said that the employer’s contribution will be 9.49 per cent for the members who sign up for higher pension and are found eligible.
Earlier this contribution used to be 8.33 per cent.
The Central Government has decided to increase the employer’s contribution. Let us tell you that earlier this contribution used to be 8.33 per cent, but now it has been decided to increase it to 9.49 per cent. As per the amendment, employees will have to pay an additional contribution of 1.16 per cent on salary above Rs 15,000 per month.
In view of the decision of the Supreme Court
According to a notification issued by the government, the ministry has said that this has been done in compliance with the SC judgment dated November 4, 2022. The ministry also said that the existing Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 has now been brought into force. Subsumed under the Code on Social Security, 2020 and the Government has decided to implement the provisions of the Code having regard to the judgment of the SC.
The order was issued on 4th November 2022
Let us tell you that earlier the Supreme Court had said in its order on November 4, 2022 that EPFO will have to give four months time to all eligible members to opt for higher pension. This period of four months is ending on March 3, 2023. This created an impression that its deadline is 3rd May 2023 and now the government has extended this date also till 26th June, so that everyone can take advantage of it. Its.
The last change was in the year 2014
EPFO had released the details of its process. It was informed that under the Employees’ Pension Scheme (EPS), the subscriber and his employer can jointly apply for higher pension. In November 2022, the Supreme Court upheld the Employees’ Pension Scheme, 2014. Earlier, in the EPS revision of August 22, 2014, the pensionable salary limit was increased from Rs.6,500 per month to Rs.15,000 per month. Also, members and their employers were allowed to contribute 8.33 per cent of their actual salary to the EPS, which has now been increased once again. EPFO has issued circular to its field offices in this regard.
(pc business league)
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