Connect with us

Hi, what are you looking for?

Political Mirror


Parliamentary panel to seek explanation over EPFO plan rejection

NEW DELHI: A Parliamentary panel will seek explanation from the finance ministry for turning down the labour ministry’s proposal to increase the pension of EPFO subscribers from the current Rs 1,000 per month.

The quantum of increase proposed by the labour ministry could not be ascertained.

Top officials from the labour ministry and Employees’ Provident Fund Organisation (EPFO) on Thursday briefed Parliamentary Standing Committee on Labour chaired by BJD MP Bhartruhari Mahtab on operation of the EPF pension scheme and management of its corpus fund.

The finance ministry had not agreed to the labour ministry’s proposal for any enhancement in the monthly pension, the officials informed the panel.

The panel has now decided to call top officials from the finance ministry to seek explanation behind the move.

The labour ministry has constituted a High-Empowered Monitoring Committee for complete evaluation and review of the Employees Pension Scheme (EPS), 1995.

The committee in its report had recommended that the minimum monthly pension payable to the member/widow/widower pensioner may be raised to at least Rs 2,000, provided annual budgetary provision for the same should be made.

Earlier this year, the panel in its report had termed the the pension of Rs 1,000 “grossly inadequate” and it is imperative for the labour ministry to pursue a proposal for raising the amount.

Source: Press Trust of India

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


NEW DELHI:A man disguised as an advocate was allegedly caught by the police security detail of the main witness in the 1984 Anti Sikh...


BARAMULLA: India’s Home Minister Amit Shah on Wednesday ruled out holding dialogue with Pakistan and asserted that the Modi government will wipe out terrorism...


SRINAGAR: National Conference (NC) president Farooq Abdullah on Monday urged the natives of Jammu and Kashmir to register themselves in the electoral rolls so...


NEW DELHI: Appreciating the performance of her party candidate in the bypoll in Azamgarh Lok Sabha seat, the BSP president Mayawati on Monday asked...


NEW DELHI: Chief Election Commissioner (CEC) Rajiv Kumar along with Election Commissioner (EC) Anup Chandra Pandey today launched a yearlong Voter Awareness Program –...