The Ministry of Labor said, it has been decided to take an additional contribution of 1.16 percent out of the total 12 percent contribution of the employers in the provident fund.

At present, the government pays 1.16 per cent of the basic salary up to Rs 15,000 as subsidy for contribution to the Employees’ Pension Scheme (EPS). This provision is retrospective as per the orders given by the Supreme Court, that is, it is applicable from the previous date. Meaning, this provision will come into effect from September 1, 2014, which is the cut-off date as per the Supreme Court order, i.e. employer’s contribution of 12% plus 1.16% will be deducted from the employee’s PF fund retrospectively.

So far more than 12 lakh applications have been received, if you also want that after retirement you get more pension every month, then you can opt for EPS-95. For this, you have to apply on the Integrated Member Portal of EPFO. EPFO has so far received more than 12 lakh applications for higher pension. This number is equivalent to 35 per cent of the total eligible employees.

How to Apply Online

First of all you have to e-Sewa portal – https//unified portal-mem.epfindia.

gov.in/memberinterface/. Here you have to click on Pension on Higher Salary.
A new page will open where 2 options will appear. The second option in this is to apply for the combined option. Select the option below here.
After this you will see a new home page. Here you have to enter your UAN, Aadhaar number, date of birth, mobile number and captcha code by clicking on the option on the left side.
After filling the form, OTP option will appear below, click on it. An OTP will come on your mobile number. Submit it after verifying it.

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For the personnel who retired before September, 2014, the last date of this scheme was earlier March 3, 2023. The Ministry of Labor said, ‘Now on the demand of the union of workers / employers, the Central Board of Trustees has decided to extend the last date for receiving applications from such workers to May 3, 2023.’

Last date extended till 3rd May

Now you can apply till 3rd May through Unified Members Portal of EPFO. The Supreme Court, in an order issued on November 4, 2022, had said that EPFO ​​will have to give 4 months time to all eligible members to opt for higher pension. This period was ending on 3 March. But there was a continuous demand from the employees to increase it. Now it has been extended till 3 May.

How to apply for more pension

To take advantage of the scheme, employees will have to go to the nearest EPFO ​​office. There you will have to fill the application along with the required documents. At present, a limit of Rs 15,000 per month has been fixed for contribution to EPS. Even if your basic salary is Rs 50,000, your EPS contribution is Rs 1,250 based on a salary of Rs 15,000.

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A formula has been agreed upon for this purpose. Although it has not been announced yet. Dearness Allowance for employees and pensioners is calculated on the basis of the Consumer Price Index for Industrial Workers (CPI-IW) released by the Labor Bureau every month. The Labor Bureau is a part of the Ministry of Labor.

Dearness Allowance may increase to 42 percent

Shiv Gopal Mishra, general secretary of the All India Railwaymen’s Federation, said the CPI-IW for December 2022 was released on January 31, 2023. The increase in dearness allowance works out to 4.23 percent. But the government does not take decimals into DA. In such a situation, there can be an increase of four percentage points in DA.

It can be increased from 38 percent to 42 percent. He told that the Expenditure Department of the Finance Ministry will make a proposal to increase DA. In this, its revenue effect will also be told. This proposal will be placed before the Union Cabinet for approval. The increase in dearness allowance will be applicable from January 1, 2023.

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Employees’ Provident Fund Organization (EPFO) has made a big change in the pension scheme, which is going to give relief to crores of subscribers. In fact, the Retirement Body Fund has allowed its subscribers retiring in less than 6 months to withdraw the amount deposited under the Employees’ Pension Scheme (Employee’s Pension Scheme 1995) EPS-95.

Decision on appeal of CBT-

According to PTI, this information has been shared by issuing a statement from the Ministry of Labor. It was told that the recommendation made by the Central Board of Trustees (CBT) to the government also includes the facility of withdrawal from their EPS account to the members with a service period of less than six months. There are more than 65 million EPFO ​​subscribers across the country.

Along with this, the Board of Trustees has also recommended to give proportionate pension benefits to the members who have been part of this scheme for more than 34 years. This facility will help the pensioners to get more pension at the time of determination of retirement benefit.

Subscribers now had this permission-

It is worth noting that till now the customers of Employees’ Provident Fund Organization (EPFO) have been allowed to withdraw only the amount deposited in their Employees’ Provident Fund account with less than 6 months of service left. But after this big decision taken by the retirement body fund, now those subscribers will get a big relief, whose total service of only 6 months is left.

Meeting under the chairmanship of Bhupendra Yadav-

In the 232nd meeting held on Monday by the CBT, it was recommended to the government that by making some amendments in the EPS-95 scheme, the retiring subscribers should be allowed to withdraw the amount deposited in the pension fund. In a statement of the Ministry of Labor, it was said that the subscribers of Union Labor Minister Bhupendra Yadav should be allowed to withdraw the amount deposited in the pension fund.

A statement of the Labor Ministry said that in this meeting held under the chairmanship of Union Labor Minister Bhupendra Yadav, a decision was taken on the recommendation to withdraw deposits under EPS-95.

This policy has also been approved-

According to the report, it has been informed by the Ministry of Labor that the Board of Trustees of EPFO ​​has also approved a redemption policy for investment in Exchange Traded Fund (ETF) units. The Board also approved the redemption of ETF units purchased during the calendar year 2018 period for booking of capital gains to be included in income for computing the interest rate for 2022-23.

Apart from this, the 69th Annual Report on the functioning of EPFO ​​for the financial year 2021-22 was also approved by the Ministry of Labor, which will be presented in Parliament.

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In this series, the Ministry of Labor is running a scheme named EPS-95 for EPFO ​​account holders. Under this, the account holders get minimum monthly pension. EPFO has informed its account holders about this scheme by tweeting.

Employees’ Provident Fund Organization ( EPFO ) gave information about the benefits and features related to EPS 95 by tweeting. At present, there are more than 6 crore subscribers of EPFO ​​and 75 lakh pensioners across the country, who will get its benefit. Let us know in detail about EPS 95 …

Major advantages of EPS 95 The special thing is that the EPS-95 scheme covers the account holders as well as their widowed man or woman as well as children. Under this scheme, if an account holder dies during his job, then his spouse is given a minimum monthly pension of ₹ 1000.

• In this scheme, the member gets pension on retirement at the age of 58 years.
• The initial member pension (if unemployed) is available from the age of 50 years in the scheme.
• There is a provision for disability pension if the member is permanently and totally disabled during the service period.
• On the death of the account holder, two children get an amount equal to 25 percent of the pension his or her spouse is getting.
• Both the children get equal amount of 25-25 per cent till the age of 25 years.
• Pension to the dependent father/mother on the death of the member account holder provided there is no nominee of the family or any other member.
• Please tell that the full name of this scheme is Employees Pension Scheme-1995. This scheme of EPFO ​​was named EPS-95 because it was started in the year 1995.
• Employees’ Provident Fund Organization is one of the largest social security organizations in the world. This organization keeps on offering different schemes for its account holders. EPFO schemes can be very useful for you in times of trouble.

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Employees’ Provident Fund Organization (EPFO) has made a big change in the pension scheme, which is going to give relief to crores of subscribers. In fact, the Retirement Body Fund has allowed its subscribers retiring in less than 6 months to withdraw the amount deposited under the Employees’ Pension Scheme (Employee’s Pension Scheme 1995) EPS-95.

Decision on appeal of CBT-

According to PTI, this information has been shared by issuing a statement from the Ministry of Labor. It was told that the recommendation made by the Central Board of Trustees (CBT) to the government also includes the facility of withdrawal from their EPS account to the members with a service period of less than six months. There are more than 65 million EPFO ​​subscribers across the country.

Along with this, the Board of Trustees has also recommended to give proportionate pension benefits to the members who have been part of this scheme for more than 34 years. This facility will help the pensioners to get more pension at the time of determination of retirement benefit.

Subscribers now had this permission-

It is worth noting that till now the customers of Employees’ Provident Fund Organization (EPFO) have been allowed to withdraw only the amount deposited in their Employees’ Provident Fund account with less than 6 months of service left. But after this big decision taken by the retirement body fund, now those subscribers will get a big relief, whose total service of only 6 months is left.

Meeting under the chairmanship of Bhupendra Yadav-

In the 232nd meeting held on Monday by the CBT, it was recommended to the government that by making some amendments in the EPS-95 scheme, the retiring subscribers should be allowed to withdraw the amount deposited in the pension fund. In a statement of the Ministry of Labor, it was said that the subscribers of Union Labor Minister Bhupendra Yadav should be allowed to withdraw the amount deposited in the pension fund.

A statement of the Labor Ministry said that in this meeting held under the chairmanship of Union Labor Minister Bhupendra Yadav, a decision was taken on the recommendation to withdraw deposits under EPS-95.

This policy has also been approved-

According to the report, it has been informed by the Ministry of Labor that the Board of Trustees of EPFO ​​has also approved a redemption policy for investment in Exchange Traded Fund (ETF) units. The Board also approved the redemption of ETF units purchased during the calendar year 2018 period for booking of capital gains to be included in income for computing the interest rate for 2022-23.

Apart from this, the 69th Annual Report on the functioning of EPFO ​​for the financial year 2021-22 was also approved by the Ministry of Labor, which will be presented in Parliament.

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Central employees first got the gift of Navratri and now the government is giving them the gift of Diwali. First the employees have got the benefit of 4 percent Dearness Allowance and DA Arrear in the salary of September and now the Central Government has also given Variable Dearness Allowance to other employees. is extended.

employee variable increased

The Union Ministry of Labor and Employment, Government of India, has increased the Variable Dearness Allowance for Central Employees (Agriculture). Now these central employees will get the Variable Dearness Allowance (Variable DA) every month. Let us tell you that the employees will get the benefit of this decision of the government from October 1, 2022.

Ministry of Labor issued notification

The Ministry of Labor has issued a notification in this regard. It is written in the notification that keeping in mind the notification dated 19 January 2017 of the Central Government, the Variable Dearness Allowance has been increased.

In which category the variable dearness allowance increased by how much?

Category of worker Rates of V. D.A. Area wise per day (in Rupees)

‘A’                                                                   ‘B’                                      ‘C’
Unskilled                                                               121                            111                                     109
Semi- Skilled/
Unskilled Supervisory                                           131                            121                                     112
Skilled/ Clerical                                                     144                            131                                     121
Highly Skilled                                                        158                            147                                     131

Let us tell you that after increasing the variable dearness allowance, agriculture employees will get bumper profits from October 1, 2022 by including basic rates and VDA. According to the table given below, city wise VDA will be given.

Category of worker Rates of V. D.A. Area wise per day (in Rupees)

‘A’                                                   ‘B’                                                ‘C’
Unskilled                                          333+121=454                       303+111=414                   300+109=409
Semi-Skilled/
Unskilled Supervisory                      364+131=495                       335+121=456                   307+112=419
Skilled/ Clerical                                395+144=539                       364+131=495                   334+121=455
Highly Skilled                                   438+158=596                       407+147=554                   364+131=495

After the decision of Minimum Wages Advisory Board, VDA will be calculated at the next higher rupee.

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