Does EPFO increase the minimum pension of EPS? Will there be any statement of the government in this May?
There are reports that the minimum pension amount is expected to increase under the pension scheme of EPFO employees. A statement on this is likely to be made in May 2025. However, there is speculation about what is the minimum pension increase in EPS. Minimum pension hike Rs. 3,000, some, Rs. 7,500 or Rs. Others are expected to be up to 9,000.
No official announcement
However, the news of this EPS minimum pension hike should be noted that there are only speculation and expectations. It should be noted that no official announcement has been made from the Government of India or EPFO so far.
Currently one thousand rupees ..
Under EPS, the current minimum pension pensioner ranges from Rs 1,000 to Rs 2,000 per month. It is effective since 1 September 2014. The EPS scheme is effective for nearly three decades. It was launched on 16 November 1995. EPS has been implemented by EPFO to employees in all organized areas. Under EPS, the owner should deposit 8.33%of the employee’s salary every month. Apart from this, the central government is also responsible for providing 1.16% rate to these funds. It has been almost a decade of amendment in the EPS scheme. Nearly a decade after the minimum pension amendment, the trade union and other groups are demanding an EPS growth.
Parliamentary committee
It has been reported that EPFO has appointed a parliamentary committee to review the EPS 95 scheme through third party review and indicate necessary changes. The review of this third party aims to appoint independent professionals and obtain their studies and recommendations. The committee is working under the leadership of BJP MP Basavraj Bombay.
What is the minimum pension?
Minimum pension Rs. In 2020, the proposals were to be extended to 2 thousand. However, the Finance Ministry rejected the proposals for some reasons. Keeping in mind the current inflation conditions, the EPS minimum pension is Rs. The demand for 9000 is currently from EPS customers. Pensioners are demanding this decision in view of existing increased expenses.
