Today FM announced the above measures, and Pension of EPS95 members has been increased to Rs.1000 PM
From India, Kurnool
From India, Kurnool
Dear friends,
The Employees Provident Fund Organisation has to release the circular for implementation of the above declaration viz. minimum pension as Rs. 1000/- along with the ceiling salary hike to Rs. 15000.
Abbas.P.S
From India, Bangalore
517The Employees Provident Fund Organisation has to release the circular for implementation of the above declaration viz. minimum pension as Rs. 1000/- along with the ceiling salary hike to Rs. 15000.
Abbas.P.S
From India, Bangalore
Dear All,
All of us are aware that Finance Minister has announced in the budget address that minimum pension will be paid @ Rs 1,000/ per month under the Pension Scheme 1995. It indicates that those who have retired in the past and have been drawing pension less than Rs 1,000/ pm will receive a minimum pension of Rs 1,000/ pm. Henceforth, it has been announced that minimum pension will be Rs 1,000/ pm under the said scheme.
In addition to the above, the Finance Minister also has declared that salary/wages ceiling on which PF contribution is paid, will be raised from Rs 6,500/ (basic & da) pm to Rs 15,000/ (basic & da) pm.Consequent to the above,the employer will have to bear additional cost towards Employer's contribution.
There has been no mention as to the effective date for implementation of the above proposals in the budget speech of Finance Minister.
In view of the above, we are to follow the notification to be issued by EPFO, on the above subject,declaring the date for implementation.
Sibabrata Majumdar
Management Consultant Legal & HR
From India, Calcutta
All of us are aware that Finance Minister has announced in the budget address that minimum pension will be paid @ Rs 1,000/ per month under the Pension Scheme 1995. It indicates that those who have retired in the past and have been drawing pension less than Rs 1,000/ pm will receive a minimum pension of Rs 1,000/ pm. Henceforth, it has been announced that minimum pension will be Rs 1,000/ pm under the said scheme.
In addition to the above, the Finance Minister also has declared that salary/wages ceiling on which PF contribution is paid, will be raised from Rs 6,500/ (basic & da) pm to Rs 15,000/ (basic & da) pm.Consequent to the above,the employer will have to bear additional cost towards Employer's contribution.
There has been no mention as to the effective date for implementation of the above proposals in the budget speech of Finance Minister.
In view of the above, we are to follow the notification to be issued by EPFO, on the above subject,declaring the date for implementation.
Sibabrata Majumdar
Management Consultant Legal & HR
From India, Calcutta
Minimum pension increased to Rs 1,000 per month . This pension is against the deposits of employee contribution, only 1.16 is paid by the Government. UPA the "BANDER BAUNT" ( Monkey's Distribution scheme) but implementation by the Modi is both CAT and Monkey Distribution System. Old age pension is 1000-1500 against no deposits, "what a great democratic rulers". FURTHER A committee will to examine and recommend how unclaimed amounts with PPF, Post Office, saving schemes etc. can be used to protect and further financial interests of the senior citizens, A new treasure to digest !!!!! More than 4000 crore is lying unclaimed as PPF accounts apart from Post office/banks other financial sectors. Implementation of proposed UPA pension is shame on the part of MODI who announced 3000 minimum pension when he was not Indian ruler (PM)
From India, Gurgaon
From India, Gurgaon
Dear friends,
All the Budget proposals will take atleast two months to see the light of the day till a formal gazette notification is issued after complying with all formalities such as the Finance Bill has to be passed by both the houses of Parliament(Modi's govt. is short of majority in the Rajya Sabha), then should obtain the accent of the Rashtrapathi and a Cabinet Note to be approved amending the relevant provisions of the Acts concerned, then with that it is released to the India Govt.Press for issuing the Gazette notification with date of implementation. So let us wait for few more months before get cracking.
I also share the concern of Yogcheekoo. Poor helpless People's money shouldn't be diverted to fill the pockets of politicians by appropriating to the Govt.'s exchequer by whatsoever method it is going to be. No efforts should be spared to find/trace the beneficiaries and rightful owners and claimants of those contributions and deposits irrespective of the time it would consume. It's nothing wrong even if some portion of that accumulations are spent on communications and trackers/tracers.
From India, Bangalore
All the Budget proposals will take atleast two months to see the light of the day till a formal gazette notification is issued after complying with all formalities such as the Finance Bill has to be passed by both the houses of Parliament(Modi's govt. is short of majority in the Rajya Sabha), then should obtain the accent of the Rashtrapathi and a Cabinet Note to be approved amending the relevant provisions of the Acts concerned, then with that it is released to the India Govt.Press for issuing the Gazette notification with date of implementation. So let us wait for few more months before get cracking.
I also share the concern of Yogcheekoo. Poor helpless People's money shouldn't be diverted to fill the pockets of politicians by appropriating to the Govt.'s exchequer by whatsoever method it is going to be. No efforts should be spared to find/trace the beneficiaries and rightful owners and claimants of those contributions and deposits irrespective of the time it would consume. It's nothing wrong even if some portion of that accumulations are spent on communications and trackers/tracers.
From India, Bangalore
This has about EPF. What is about increase in ESI limit from 15000 to 25000/- ? Whether any proposal is made in Budget ? Pl. share any thing in this matter.
From India, Pune
From India, Pune
Dear friends,
Gazette notification is not published in this regard till now, moreover it has to be passed by both the houses as mentioned one of my friend, we have to wait till then.
Regards,
J Basak
HR Professional
From India, Calcutta
Gazette notification is not published in this regard till now, moreover it has to be passed by both the houses as mentioned one of my friend, we have to wait till then.
Regards,
J Basak
HR Professional
From India, Calcutta
8.33% of salary subject to a salary ceiling of Rs.15000 (w.e.f 01.09.2014) will go to pension fund and balance to PF account. Abbas.P.S
From India, Bangalore
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Mandatory Submission Of Mobile Number And Bank Account Details For Registration Under ESIC.pdf