Employees Pension Scheme 2023 January Update: If you are employed then this news is for you. Because EPFO has made a new rule regarding Employees Pension Scheme. Under which the pension of the employees is going to be doubled now! According to the information given by the Employees’ Provident Fund Organisation, hearing is going on in the Supreme Court to remove the limit of Rs 15,000.
New Employees Pension Scheme 2023 January Update
Employees will become silver as soon as the pension limit is decided in the Employees Pension Scheme. Because after this, even on the basic salary of Rs.20000, at least Rs.8571 will remain in the hands of the pension beneficiary. Employees’ Provident Fund Organization has released a new update for this. The new rule will be implemented as soon as the limit is removed. Due to which crores of employees of the country will be benefited.
What is the matter of removal of EPS pension limit-
Before moving forward on this matter of Employees Pension Scheme, let us understand what is this whole matter. At present, the maximum pensionable salary is limited to Rs 15,000 per month. Meaning whatever your salary may be, but EPFO pension will be calculated only on Rs 15,000. There is a court case going on to remove this limit. Free Employees Pension Scheme 2023
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Let us tell you that on August 12 last year, the Supreme Court had adjourned the hearing of a batch of petitions filed by the Union of India and the Employees’
Provident Fund Organisation, which said that the Employees’ Pension Scheme Scheme) the pension of the employees should be limited. 15,000 cannot be carried up to Rs. Hearing of these cases is going on in the court.
There are rules for now (EPS Pension Scheme Latest Rules) –
Let us tell you that whenever we join a job, we become a member of the Employees’ Provident Fund Organisation. The employee gives 12% of his salary in EPF, the same amount is given by his company, but 8.33% of it also goes to EPS.
As we mentioned above that at present the maximum pensionable salary is only 15 thousand rupees, that is, the maximum share of pension in the Employees Pension Scheme (8.33% of 15000) is 1250 rupees every month.
Employees’ Provident Fund Organization
Also, Employees’ Provident Fund Organization (Employees’ Provident Fund Organization) considers only Rs 15,000 as the maximum salary for calculating pension even after the employee retires, according to which an employee can get a maximum pension of Rs 7,500 under EPS.
Now there is talk of increasing it. If the limit of Rs 15000 is exhausted, then the pension in your Employees Pension Scheme (Employees Pension Scheme) will almost double in your hands. Hearing is going on in the Supreme Court in this regard.
Enhanced Pension Coverage: Employees Pension Scheme January Update
Employees’ Provident Fund Organization employees who have not opted for enhanced pension coverage prior to 2014 can now do so jointly with their employers within the next 4 months.
This comes after the Supreme Court’s order regarding upholding of the Employees’ Pension (Amendment) Scheme, 2014.
Explain that the Supreme Court has upheld the Employees Pension Scheme, 2014, after which the eligible employees who have not adopted the extended scheme.
Pension coverage before 2014 will also be eligible for the next You can become part of it in 4 months.
Employees will now get more benefits in the Employees Pension Scheme
After this decision of the Employees’ Provident Fund Organisation, the employees who were existing members of EPS till September 1, 2014, can contribute up to 8.33 per cent of their ‘actual’ salary.
Earlier they could contribute only 8.33% of the pensionable salary and the maximum limit was fixed at Rs 15,000 per month.
But now the employees will be able to contribute more in this scheme and they will also get more benefits. All EPFO customers will get the benefit of Employees Pension Scheme!