A proposal to increase the monthly minimum pension under the Employees’ Provident Fund (EPF) to Rs 1,000 is under government’s consideration, the Rajya Sabha was informed on Friday.
Minister of State for Labour and Employment Kodikunnil Suresh said the ministry has moved a proposal to ensure a minimum pension of Rs 1,000 to all pensioners under the EPF scheme by enhancing the government’s contribution.
He was replying to a private member’s resolution moved by Prakash Javadekar (BJP), who withdrew it after the Minister’s assurances.
Suresh said nearly 27 per cent of pensioners get a monthly pension of less than Rs 500 at present and about 56 per cent get pension between Rs 500 to Rs 1,000 a month.
He said government has taken several steps, including monetary and fiscal measures, to check inflation.
He also said huge subsidy is given towards food and enactment of the Food Security Bill will benefit the poor.
On changes in the Minimum Wages Act, he said an amendment was being proposed so that the legislation becomes applicable to all employers.
Among others who participated in the debate were Mansukh L Mandaviya (BJP), Rama Chandra Khuntia (Cong) and Gyan Prakash Pilania (BJP).
Keywords: Proposal, increase monthly minimum pension, Employees’ Provident Fund, EPF, Rajya Sabha, Minister of State for Labour and Employment, Kodikunnil Suresh
Comments:
minimum pension should be in line with the mininimum wages.politically assisted govt. employees as per 2006 pay revesion get min. 35oo pension. why present govt. want to crucify innocent people who work for 14 hours & get wages sufficient to make their both ends meet.in view of present scenario, govt. shoulnt"d talk of social secirity as they are worried about financial security of ----real state?
A.EPF pension was last revised In the year 2000.After that ,revision
neither in minimum pension amount has been considered nor any relief
in pension has been declared. Though CPI has increased many folds.
B.Number of comity has been formed to review Pension amount.Number of
meeting have been convened at different level to consider a upward
revision in EPS 1995 pension.But nothing as such has been delivered by
those comity or has come out from those meeting.
C.A proposal for increasing minimum pension from Ministry of labor to
ministry of finance was sent .We are yet to hear anything about that
proposal.
D.We have waited for long 13 years and do not know how many years we
have to wait to see a upward revision in EPS 1995( EPFO ) pension.
The existing pension of the EPF Scheme was totally inadequate under the
scheme, who had spent their entire working life in the most productive
sectors of the national economy. Govt. should consider day-to-day
expenses of a person like age of 60.
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