These employees depositing EPFO will get more pension, EPFO issued circular.
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retirement Fund management body EPFO has asked its regional offices to implement the Supreme Court’s November four, 2022 order directive it to produce higher pension choice to eligible subscribers. in an exceedingly circular issued by the Employees’ Provident Fund Organization (EPFO) on Gregorian calendar month twenty nine, the Central Government has ordered the implementation of the directions of the Supreme Court. The regional offices are asked to implement ‘the directions contained in para four(9) of the Supreme Court judgment dated November 4, 2022′ at intervals the stipulated timeframe. along side this, the regional offices also will need to offer adequate packaging to the choice taken by the EPFO.
The Supreme Court had given the choice
Earlier, the Supreme Court had upheld the Employees’ Pension (Amendment) theme 2014 in its judgment. The EPS revision (August 2014) raised the eligible pay limit from Rs six,500 per month to Rs fifteen,000 per month. additionally, members were allowed to contribute eight.33 per cent of their actual pay (if it exceeds the limit) to the EPS along side their employers. In this, all EPS members got six months to take the revised theme. The apex court, in its order, had given four months longer to eligible subscribers to take higher pension beneath EPS-95.
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