News
PF Limit to be incresed up to 15000 and Pension up to 1000
BREAKING NEWS
WAGE CEILING FOR PF COVERAGE TO BE RAISED TO RS.15,000 per month
Also monthly pension Rs.1000 per month
The Finance Ministry has approved a proposal for providing a minimum monthly pension of Rs. 1,000 to workers in the organised sector, a move which would benefit 27 lakh pensioners immediately.
The ministry has also approved a proposal for raising the basic wage ceiling under the Employees Provident Fund Scheme to Rs. 15,000, from existing Rs. 6,500 per month
At present, there are about 44 lakh pensioners. Of this 27 lakh, including 5 lakh widows, get less than Rs. 1,000 a month.
The government will provide additional contribution of Rs. 1,217 crore to ensure the minimum monthly pension of Rs. 1,000 starting 2014-15. Pensioners are, therefore, expected to get benefit with effect from April 1 this year.
Labour Minister Oscar Fernandes, however, is yet to decide on whether the move requires the Cabinet approval or not.
The Labour Ministry\'s proposal on giving a minimum monthly pension of Rs. 1,000 under the EPS-95, run by the Employees\' Provident Fund Organisation (EPFO), has been pending for a long time.
Earlier, the Labour Ministry had proposed that government should increase contribution on EPS-95 from 1.16 per cent of basic wage to 1.79 per cent to ensure minimum pension.
However, it did not find favour with the Finance Ministry as this would have resulted in a permanent increase in its contribution.
The Labour Ministry in its revised proposal has asked the Finance Ministry to provide for around Rs. 1,217 crore additional amount every year, and indicated that this amount can come down over a period of time with more members subscribing to EPS-95.
GENERAL INFORMATION
- PF Benefits in Hindi
- PF Member Passbook
- UAN Member Portal
- PF Claim Status
- PF Paid Receipts
- ESI Benefits in Hindi
- ESIC IP STATUS
- AADHAR Online Update
- Minimum Wages in Gujarat
- Checklist for Employer
- Checklist for Compliance
- Labour Court Cases Status
- Registration of Employer under Apprenticeship
- Registration of Candidates under Apprenticeship Act
- GLWF Benefits
- ESI PF Help desk & Awareness Camp
- PM-SYM Pension Scheme
- Central Govt. Minimum Wages
LIST OF ACT
- Apprentices Act, 1961
- Bonded Labour System Act, 1976
- Contract Labour Act, 1970
- Hacked By Mr.T1T4N
- Employees Provident Fund & Miscellanous Provisions Act, 1952
- Employee State Insurance Act, 1948
- Employment Exchanges Act, 1959
- Equal Remuneration Act, 1976
- Factories Act, 1948
- Industrial Disputes Act, 1947.
- Maternity Benefit Act, 1961
- Payment Of Bonus Act, 1965
- Payment Of Gratuity Act, 1972
- Payment Of Wages Act, 1936
- Employee's Compensation Act, 1923
- Bombay Shops & Establishments Act, 1948
- Professional Tax Act
- The Sexual Harassment of women at workplace (Prevention, Prohibition & Redressal) Act, 2013
- The Code on Wages,2017
- The Code on Industrial Relations Bill, 2015
- The Code on Social Security,2018
- The Labour Laws Gujarat (Amendment) Act, 2015