EPF Pension Hike News: Employees of the Employees’ Provident Fund Organization (EPFO) may receive some good news before Diwali 2025. An increase in the minimum pension amount under the EPF may be announced. The Central Board of Trustees (CBT), the body responsible for making important decisions related to the EPFO, is scheduled to meet in Bengaluru on October 10th and 11th. The proposal for a pension hike is expected to be passed at this meeting.

What is the current pension?

Currently, the minimum pension amount under the Employee Pension Scheme (EPS) is ₹1,000 per month. There has been a demand for an increase in this amount for some time. According to media reports, the CBT may increase this amount to ₹2,500 per month in its meeting on October 10th and 11th.

Changes will occur after 11 years!

The minimum pension of the Employees’ Provident Fund Organization (EPFO) under the Employee Pension Scheme (EPS-95) was revised 11 years ago. In 2014, the government increased it to ₹1,000 per month. Since then, there has been no change. Given the current inflation and rising cost of living, employee organizations and pensioners’ associations have been demanding an increase for some time.

Millions of pensioners will receive relief.

According to reports, several pensioners’ associations are demanding an increase in the minimum EPF pension amount from ₹1,000 to ₹7,500 per month. However, CBT sources say that such a significant increase is unlikely to be agreed upon. Instead, a reduction to ₹2,500 per month could be considered. If the CBT approves this proposal, millions of pensioners will receive significant relief.

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By sending a letter, it has been asked to complete it soon. So that those who want to claim more pension on the basis of higher salary, they can avail the benefit of this option. The ministry has also asked EPFO ​​to clarify the process for submission of joint option for those retiring after September 1, 2014 and members of the existing Employees’ Pension Scheme (EPS) .

According to a report in The Hindu, the letter was sent by the Ministry of Labor last week. According to the official, we expect EPFO ​​to issue a circular with procedures in this week. The ministry has also asked the EPFO ​​to be clear about the process for existing EPS subscribers retiring before and after September 1, 2014.

The opposition had raised the currency in the Parliament

Even during the budget session of the Parliament, the issue of delay in issuing the circular was raised in both the Houses. CPI(M) MP John Brittas had recently written to Union Labor Minister Bhupendra Yadav, requesting his intervention to expedite the process. Opposition MPs questioned EPFO’s notice to several pensioners who retired before September 1, 2014, that their pension would be stopped if they did not submit details of their joint options submitted to EPFO.

Change orders were given

In a recent circular of EPFO, its regional offices were asked to revise the pension entitlement and recover the amount if any one has received pension without exercising any option under paragraph 11(3) of the EPS. The official said that the new circular will address all the issues related to the Supreme Court order.

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If you are not yet availing the pension scheme of EPFO, then there is an important news for you. During the budget session of Parliament, Congress MP B Manikkam Tagore and Bharat Rashtra Samithi MP Manne Srinivasa Reddy asked Union Labor and Employment Minister Bhupendra Yadav questions related to the retired employees deprived of the benefits of the EPF pension scheme. Let us know what the Union Labor and Employment Minister Bhupendra Yadav gave in response to the question of the opposition MPs.

EPFO gave opportunity to pensioners for enhanced pension?

In response to this question, Union Labor and Employment Minister Bhupendra Yadav said that yes, yes. On December 29, 2022, the Employees’ Provident Fund Organization (EPFO) issued instructions for inviting online applications from pensioners who retired prior to January 01, 2014 and who have opted for combined options to contribute to the Pension Fund at a salary in excess of the pay limit prior to their retirement. was used. But, their combined options were rejected by EPFO ​​(due to cut-off date). This is in pursuance of the directions of the Supreme Court as contained in Article 44(ix) read with Article 44(v) and (vi) of the judgment dated 04 November 2022 in SLP (Civil) No. 8658-8659 of the year 2019.

EPFO is considering the option of increased pension during the job?

In response to this question, Union Labor and Employment Minister Bhupendra Yadav said that on August 22, 2014, G.S.R. As per the Employees’ Pension (Amendment) Scheme, 2014 notified vide 609(E), with effect from 01 September 2014 only employees drawing salary up to Rs.15,000 per month are entitled to subscribe to the Employees’ Pension Scheme (EPS), 1995.

What is the status of those who retired or employed after September 1, 2014?

In response to this question, Union Labor and Employment Minister Bhupendra Yadav said that those persons who have retired after 1st September 2014 or who are in service and are members of EPS 1995, they can apply for G.S. .Prohibit. are governed by the provisions of the EPS, 1995 as amended vide 609(A).

What is the Supreme Court’s order?

The Supreme Court has directed under Section 142 of the Constitution of India that members of the EPS, 1995, who have exercised the option to contribute on salary in excess of the wage ceiling as required in the proviso to pre-amended Article 11(3) of the EPS, 1995 not exercised shall be entitled to exercise the combined options under clause 11(4) of the post-amended scheme within the extended time period of four months.

Provided further that the remaining requirements as per the amended provision shall be complied with. The Supreme Court directions have legal, financial, actuarial and logistical implications and are being studied.

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How much pension will you get after retirement? If you have started taking pension from the age of 50, then how much pension will you get. Explain that the EPS calculator can be used by those people who started getting pension on or after April 1, 2014. Know the whole process.

Even if your pension becomes Rs 540, EPFO ​​gives you a pension of Rs 1000

After entering all the data, your monthly pension will be displayed on the calculator. According to EPFO, from September 1, 2014, a minimum pension amount of Rs 1000 is given to the pensioner, that is, if your pension becomes Rs 540, then EPFO ​​will give you a pension of Rs 1000.

understand by example

Let us understand the whole process with an example. The date of birth of a member is 2 October 1964 and he started service on 27 November 1995 and he retires on 21 January 2022 with a pensionable salary of Rs 15,000. If the number of NCP days is zero. If his pension is to start from January 21, 2022, then after filling all these information in the calculator, it will be seen that he will get a monthly Pantoin of Rs 3327.

Pension starts after 50 years

According to EPFO, after 50 years, the pension starts. But if you take the pension before the age of 58, then the EPFO ​​​​deducts at the rate of 4 percent annually. That is, the number of years before the pension is taken from 58, the amount will be reduced at the rate of 4% for that number of years.

Know what is the process of checking pension

1. On the website, you have to enter the date of birth of the pensioner. The EPF member should have completed 58 years of age as on 1st April 2011 i.e. before using this calculator the date of birth should be on or after 1st April 1953.

2. After entering the date of birth, you have to enter the details of joining and service exit i.e. date of retirement in the calculator. According to EPFO ​​rules, the joining date of the service should be on or after November 16, 1995.

3. After this you have to enter the number of NCP Day. NCP i.e. non-contributory period, it means that you did not get income in those days or the EPF contribution of the member has not been paid by the company. You can also understand this in such a way that the day you are on leave is called your non-contributory period. There are two types of NCP. In NCP-1, you have to enter NCP Days up to 31st August 2014. On the other hand, NCP days after 31 August 2014 will be recorded in NCP-2.

4. According to the EPFO, if a member has worked in more than one place, then he can add all those periods. Understand this in such a way that if you worked in one company for two years and then worked in another company for three years, then according to EPFO, you can enter the work done in both the companies during the service period.

5. After this you will see the date of commencement of pension in the system. Enter the date when you received the first pension there.

6. After this you will see the pensionable salary written. Here you enter your salary. If your pension is started on or before 31st August 2014, then the pensionable salary will be the average income of the last 12 months and if the pension has started after this date then the average income of 60 months.

7. According to the new rules of EPFO, the maximum limit of pensionable income was Rs.6500 till August 31, 2014, which was increased to Rs.15 thousand for a later date i.e. 15 thousand till September 1, 2014 to use this calculator. Up to Rs. and maximum income as on 31st August 2014 should be Rs.6500.

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Through which you can easily calculate your pension amount. How much pension will you get after retirement? If you have started taking pension from the age of 50, then how much pension will you get. Explain that the EPS calculator can be used by those people who started getting pension on or after April 1, 2014. Know the whole process. 

Know the whole process in these easy steps

1. On the website you have to enter the date of birth of the pensioner. The EPF member should have completed 58 years of age as on 1st April 2011 i.e. before using this calculator the date of birth should be on or after 1st April 1953.

2. After entering the date of birth, you have to enter the details of joining and service exit i.e. date of retirement in the calculator. According to EPFO ​​rules, the joining date of the service should be on or after November 16, 1995.

3. After this you have to enter the number of NCP Day. NCP i.e. non-contributory period, it means that you did not get income in those days or the EPF contribution of the member has not been paid by the company. You can also understand this in such a way that the day you are on leave is called your non-contributory period. There are two types of NCP. In NCP-1, you have to enter NCP Days up to 31st August 2014. On the other hand, NCP days after 31 August 2014 will be recorded in NCP-2.

4. According to the EPFO, if a member has worked in more than one place, then he can add all those periods. Understand this in such a way that if you worked in one company for two years and then worked in another company for three years, then according to EPFO, you can enter the work done in both the companies during the service period. 

5. After this you will see the date of commencement of pension in the system. Enter the date when you received the first pension there. 

6. After this you will see the pensionable salary written. Here you enter your salary. If your pension is started on or before 31st August 2014, then the pensionable salary will be the average income of the last 12 months and if the pension has started after this date then the average income of 60 months. 

7. According to the new rules of EPFO, the maximum limit of pensionable income was Rs.6500 till August 31, 2014, which was increased to Rs.15 thousand for a later date i.e. 15 thousand till September 1, 2014 to use this calculator. Up to Rs. And the maximum income should be Rs.6500 as on 31st August 2014.

After this you will see the details of pension 

After entering all the data, your monthly pension will be displayed on the calculator. According to EPFO, from September 1, 2014, a minimum pension amount of Rs 1 thousand is given to the pensioner, that is, if your pension becomes Rs 540, then EPFO ​​will give you a pension of Rs 1000.

What if you are under 58 years old?

According to EPFO, after 50 years pension starts getting. But if you take pension before 58 years, then EPFO ​​deducts at the rate of 4 percent annually. That is, the number of years before the pension is taken from 58, the amount will be reduced at the rate of 4% for that number of years. 

see an example 

You can understand the whole process with an example. A member’s date of birth is 2 October 1964 and he started service on 27 November 1995 and he retires on 21 January 2022 with a pensionable salary of Rs 15,000. If the number of NCP days is zero. If his pension is to start from January 21, 2022, then after filling all these information in the calculator, it will be seen that he will get a monthly pension of Rs 3327.

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Let us tell you that pensioners going to get pension from Provident Fund Organization (EPFO) are going to prove to be very beneficial. Actually, there has been a big change from EPFO ​​regarding the arrangement of pension amount. Its benefits are going to be available to all pensioners.

According to the information, about 73 lakh pensioners of the country are going to get its benefit. For this, the government is preparing to set up a central pension distribution system. Talking about this regard, the meeting of EPFO ​​will start on 29 and 30 July. According to the information received, approval for this proposal will start in this meeting.

If seen at this time, if we talk about the 138 regional offices of EPFO, then pension is going to be sent to the accounts of pensioners. Due to which the pensioners are seen, the work is being done to give the amount in their account on different days and times. If this system is approved easily, then the work of sending pension to the accounts of more pensioners with 73 lakh people across the country will be done in one go.

EPFO customers are going to get the benefit

According to the information, after the implementation of the centralized system, EPFO ​​subscribers are going to get a lot of benefits. There is no duplication due to this, along with this, after the merger, the work of converting multiple PFs of one member into one account will be done. If any person has become eager to change jobs, then he starts getting rid of transferring his PF account.

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