Employee Pension Scheme Update Check: Important news for Employee Pension Scheme subscribers. The government has rejected the proposal to increase the pension of the shareholders of the Employees’ Provident Fund Organization (EPFO). After this, a parliamentary committee will seek an explanation from the Finance Ministry for rejecting the Labor Ministry’s proposal to increase the Pension Fund from the current Rs 1,000 per month. However, the amount of increase proposed by the Ministry of Labor is not known.
Employee Pension Scheme Update Check
According to the information received in the Employee Pension Scheme, the top officials of the Ministry of Labor and EPFO, on Thursday, under the chairmanship of BJD MP Bhartrihari Mahtab, the Parliamentary Standing Committee on Labor on the operation of the EPS Pension Fund scheme and its funds. Management information. Officials informed the Committee that the Ministry of Finance does not agree with the proposal of the Ministry of Labor for any increase in the monthly pension.
After this, now the EPFO committee has decided to call the top officials of the Finance Ministry to seek clarification on this subject. In fact, the Employee Pension Scheme Committee in its report had recommended increasing the minimum monthly pension payable to the member/widow/widow pensioner by at least Rs 2,000. In view of rising inflation, the committee had proposed this EPS Pension Fund.
Changes in Employee Pension Scheme
Significantly, the EPFO has agreed to withdraw the deposits of employees retiring in less than six months under the Employee Pension Scheme, 1995. As of now, Employees’ Provident Fund (EPFO) subscribers are allowed to withdraw deposits from the EPS pension fund account only if they have less than six months of service left. This decision means that now the subscribers of EPFO will be able to withdraw money from EPS Pension Fund as well.
Good news for subscribers of EPFO (Good News for Employee Pension Scheme)
Employees Provident Fund Organization ie EPFO account holders (EPFO subscribers) can get a big gift soon. According to the report of ET Now Swadesh, the Minimum Employee Pension Scheme (Employee Pension Scheme) pension can be increased three times. It has been said in the report that the meeting of the Central Board of Trustees of EPFO is going to be held next month. A three-fold increase in the minimum EPS pension (Pension Fund) is expected to be discussed in this meeting.
Employees Pension Scheme
EPFO minimum pension may be increased from existing Rs 1,000 to Rs 3,000. According to the Employee Pension Scheme report, the committee headed by the Labor Secretary will soon submit its report in this matter. This decision will benefit about 6.5 lakh EPS pensioners and 5 crore shareholders of EPFO.
EPS may increase investment limit in equity
Apart from this, there will also be discussion on increasing the equity limit of Employee Pension Scheme from 15% to 25% in the meeting. Let us tell you that the trade union is not in favor of increasing investment in equity. Employee Pension Scheme Update Check
Behind this, he is giving the reason for the uncertainty in the stock market. Let us tell you that a few days ago, giving a shock to the EPS Pension Fund customers of EPFO, the Finance Ministry had announced 8.1 percent interest rate for the financial year 2021-22. Employee Pension Scheme Update Check
Employee Pension Scheme
This is the lowest level in four decades. The interest rate on EPF for the financial year 2021-22 was 8.5 per cent. This decision of the government will affect 6.5 crore EPFO subscribers i.e. 6.5 crore job seekers!
The government is considering increasing the investment limit in the stock market from the EPFO EPS Pension (Pension Fund) to keep it attractive amidst the falling interest rate. Soon the pension of the Employee Pension Scheme can be 3 times!