Proposed changes in Employees Pension Scheme 1995

In recent CBT meeting concluded at Guwahati it is decided to constitute task force of experts of Pension, Superanuation & Social Security Field.

 

 

It was also suggested to include members from PFRDA, VVGNLI (V V Giri National Labour Institute) , Two Independent Actuaries, Chief Investment Officers of some reputed Investment Firms /Mutual Fund Houses, Financial or any other Expert.

The task force would study the existing EPS 95 in the time and also issues raised by the Committee Members and suggest possible measures to engage the benefit under the EPS 95 within the defined time limit.

Other Recommendations:-

1) To make wage ceiling of PF & ESI equals; (Presently PF Wage ceiling is Rs. 15,000/- pm & ESI Wage ceiling is Rs. 21,000/- pm)

2) To make 12% contribution to EPS; (Presently its 8.33% subject to maximum if Rs. 1250/- pm)

3) To cover all employees upto wage ceiling; (Presently, Pension Contribution is restricted upto salary of Rs. 15,000/- pm)

Let’s see how and when these proposals and amendments see the light of the day.