Economy

Proposal to increase minimum pension under EPF

PTI New Delhi | Updated on March 13, 2018 Published on March 15, 2013

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).

Published on March 15, 2013
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