The government could reportedly be considering acting on the appeal by private sector employees covered under the Employees' Provident Fund Organisation for an increase in the minimum pension, which at the moment is fixed at ₹1,000 per month. Under the Provident Funds and Miscellaneous Provisions Act, an employer and worker both are required to contribute 12% of a person’s basic …
The Calcutta High Court has directed that writ petitioners, who were in service as on 01.09.2014 and were also members of the Employees’ Pension Scheme 1995 shall be entitled to exercise option which shall cover the pre-amended paragraph 11 as also paragraph 11 of EPS 1995. The single bench of Justice Raja Basu Chowdhury directed Indian Oil Corporation Limited to …
Retirement fund body Employees’ Provident Fund Organisation is toying with the idea of bringing out a new pension product for organised sector workers not covered under the Employees’ Pension Scheme, 1995. Public Provident Fund: PPF is a government-backed savings vehicle with quarterly fixed returns determined by the government. We showcase some of the key differences between NPS and PPF: National …
