Revision of EPF pension latest news 2018: Employee Provident Fund Organization is planning to hike the pension payments of EPF members to 2000 Rs. At present EPF members are getting a minimum monthly pension amount of 1000 Rs. In the present situation, this amount is not at all sufficient to lead a normal life. The cost of living is increasing day by day, keeping in a view of all those things employee provident fund organization plans to hike the employee monthly pension payment amount to 2000 Rs.
Even though the EPF pension becomes 2000 still it is not that much enough in present cost of living, but it will give some support to the employees after their retirement.
Summary On Revision Of EPF Pension Latest News 2018
In the year 2014, the central government has fixed the minimum pension amount for EPF members under employee pension scheme 1995 as 1000 Rs. If the central government hikes this pension to 2000 Rs then there are more than 40 lakhs of pensioners are going to get the benefit of this hike in pension and this will cost nearly 3000 crores per annum for the central government. If it happens then it is a great relief for the employees who are getting very low monthly basic wages.
For example, after calculation of monthly pension if an employee gets only 1200 Rs as pension per month then due to this hike he will get a minimum pension of 2000 Rs.
Pension Calculation Formula = Avg Salary (preceding 60 months from date of exit) X No.of yrs of service/70
Trade unions are demanding to increase the monthly pension amount of pensioners to 3000 Rs. Hope the central government and EPFO will consider their request. Do share your opinions on the planning of EPFO about hiking the EPF pension to 2000 Rs. Keep following this blog to get up to date information about revision of EPF pension latest news 2018.
Please give pension as per Central Govt. Employees Norms to us. At least 50% of last retirement month pay. Today life maintainance is very difficult, we cont posible to maintain health and other family expenses.
It will be more benefitted to sr. citizens.
Minimim pension is 5000is essential to ma aga min req such as foods and medicines
Pls increase the PF pension minimum Rs 5000 to meet the basin needs . Also provide ESI cards benifts for retired persons
Tks
Pension should be increasing up to rs. 10000/- because family pension fund was dedicated from 1971. Govt. Should think how much amt. Grab by govt. And that is workers hard money
All the governments are favouring to increase the pension to the Govt. employees without any limit. increase the old age pension to get votes, buy the votes by paying amount to the farmers etc., All the exchequer is going to the above categories. For enhancing the pension to the P.F. pensioners, the Govt. is not even caring. In fact, the private employees have contributed their services to the nation without taking money from the Government and also have paid taxes in lakhs of rupees. But the Govt. is least bothered to think of the p.f. pensioners who are being paid very very meager amount as pension. Even now, the BJP Govt. must think humanly and enhance the pension to Rs.7,500 p.m.
EPF minimum pension amount should be Rs.5000 considering the cost of living prevailing at present.The government should show justice to senior citizens and increase the minimum pension.
EPF 1995, pensioners all received 1000₹ this amount not sufficient, to basic thinks cost very high, we r all expecting pension increased this budget, but not touch, so I request please consider our senior employees/ citizen, they r all having valuable votes,
EPF minimum pension amount should be Rs.5000 considering the cost of living prevailing at present.
When the government proposed to give pension of Rs 3000 to unorganized sector workers, why not EPF pensioners have been left behind, which is not all justifiable. The government should show justice to senior citizens and increase the minimum pension amount to Rs.3000/-, which will benefit the government in the long run
Pension not received
We had a great expectation from the interim budget. EPF pension for senior citizens which was funded by their PF contributions of employees still stands at Rs. 1000/- per month only. There have been talks for the last few years for an upward revision considering the hike in cost of living index. While monthly pension for unorganised sector workers above 60 years have been allowed to Rs.3000/- per month, there is no revision in EPF pension .Not all senior citizens have enough taxable income so as to benefit from reduction of income tax. This is injustice for senior citizens and should be looked into immediately.
Amal Kumar Sen
240 Rajdanga Main Road
Kolkata 700107.
Pm modiji we are totally disappointed there is no mention of epf pension in the budget
Epf pensioners hard work. Of 30 or more years getting meger 1000 as pension.will the pm look in to this matter and arrange to grant pension as per the cost of living today.matter most urgent we are totally disappointed there is no mention about epf pension in the buget.we once again request the pm to do something on this matter.
Government / EPFO should consider to raise the employee Pension at least Rs.10000/- per month. The monthly Pension Contribution rate needs to be reviewed at present.
It’s BJP govt, it only takes from common man, doesn’t favor anything in return
At present one person need minimum Rs 10,000/- to lead a normal life, so, if Prime Minister, Modi Ji sanction/announces Rs 10,000/- as minimum EPF pension, definitely, all the people
will say thanks to Modi Ji by selecting the Modi Ji Government in the elections coming this year
and this will lay a strong foundation in the hearts of the poor people for Mr Modi Ji.
Know a dayes wife and husbend living cost at vilages also a minimum rs 10.000 per month because rent milk daily food medicine ext
Hi
I have been retired from Fertilizer Corporation of India in Feb., 2003 and getting the pension of Rs 961/- per month even after decision of hiking of Rs. 1000/-. The matter has been discussed with the officials of EPFO, they said that my VRS is before 58 years, thereby, the I am not entitled for Rs. 1000/- pm. Here it is to clear that I have not taken VRS, there are 13 companies have been given Voluntary Separation Scheme not Voluntary Retirement and I the company the retirement age was 58 years. Then all the employees under the scheme have been retired before the age of 58 years. I rendered about 25 years in the company and after that I am getting pension only Rs. 961/-.
May I request to the trustees to look into the matter and sympathetically this matter may be taken up and should be paid minimum pension.
From when it is going to be get implemented?
EPF pension minimum hike Rs.10000 we need for leading our normal life and this is our expectations, Thank you.
Hi Latha,
What you said was definitely true, at present minimum 10000 Rs is required as a pension to lead a decent life after retirement, it will be more beneficial for private employees.
You are right, but where is the resources?
My pension should be 9000+ 500 because I have serviced in 22 years in a pvt. com
and pension receiving 1000/-
where as govet employees received the pension in this time rs. 40,999