The government’s decision to make Employees’ Provident Fund contributions above the statutory wage ceiling voluntary is less a retreat from social security than an attempt to restore clarity to a system that had gradually drifted away from its original design.
In a pioneering move to protect Ladakh's fragile high-altitude ecosystem, Lieutenant Governor Vinai Kumar Saxena on Saturday deployed the first batch of 100 ex-servicemen into the newly created Environment Protection Force (EPF), empowering them to crack down on illegal off-roading and other environmental violations across the Union Territory.
Rs. 1,000 and less! Some 37 lakh senior citizens and their dependents survive on this monthly pittance called pension from the Employees’ Pension Scheme 1995 of the EPF Act 1952.
You might have seen news about the Unified Pension Scheme (UPS), maybe even skimmed a few articles, and then moved on, thinking this is just another policy tweak that doesn’t concern you.
New subscriptions to the Employees’ Provident Fund (EPF) scheme were down a percent in June from the previous month at 1.02 million.
The new pension scheme for its employees, inferior to the existing one, is a case in point. More disturbing is the denial, due to some flimsy objections, of the higher pension right to a large number of employees already covered under the Employees’ Provident Fund (EPF) scheme, not to speak of the total exclusion of a category of employees recruited after 1 September 2014.
The BMS will soon present a memorandum on its suggestions to the Finance Ministry, he said.
A spokesman said the CBT’s 229th meeting decided that the committees will have CBT members representing employees, employers, as well as, representatives of the Government.
This move will also estimated to infuse liquidity of Rs 6,750 crore in next three months.
The government has decided to extend coverage under the Employees Provident Fund Act and the Employees State Insurance Scheme to…
