The appropriate Government (Ministry of Labour, Central Government) has issued two Gazette Notifications amending some provisions of the Employees' Provident Fund & Miscellaneous Provisions Scheme, 1952. The copies of the Gazette Notifications are enclosed herewith for the kind information of all members.
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From India, Noida
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944Regards
From India, Noida
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I have a question.
In the year 2002, I took VRS after 30 years of service from a PSU. Since the start of my service, EPF was compulsory. Just a few years before, the scheme changed, and as I had worked in different units, old records were not available with my employer. As a result, my EPF pension did not receive the full benefit. My EPF pension was sanctioned for around 8 years of service, instead of my actual 30 years. The payment amount was a very small sum of Rs 645/- per month (the maximum could have been Rs 745/-). Being outside India, I could not follow up, so I accepted whatever was approved.
I have heard that the minimum pension has been increased to Rs 1000/-, but since April 2002, I have only been receiving Rs 645/- per month, with no increase. Additionally, the bank that manages this does not maintain proper records of life certificates, causing further issues.
In my experience, receiving such a small installment is inefficient. It might be better to pay the individual a lump sum amount and save a significant amount of manpower and energy wasted on record-keeping and addressing complaints. Each visit to the bank or EPF office costs me a minimum of Rs 100/-.
I would like to know if there has been an increase in the monthly pension, especially considering the government announces so many DA installments to compensate for dearness to central government employees. Is dearness only for them and not for others?
Thank you for your assistance.
From India, Delhi
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In the year 2002, I took VRS after 30 years of service from a PSU. Since the start of my service, EPF was compulsory. Just a few years before, the scheme changed, and as I had worked in different units, old records were not available with my employer. As a result, my EPF pension did not receive the full benefit. My EPF pension was sanctioned for around 8 years of service, instead of my actual 30 years. The payment amount was a very small sum of Rs 645/- per month (the maximum could have been Rs 745/-). Being outside India, I could not follow up, so I accepted whatever was approved.
I have heard that the minimum pension has been increased to Rs 1000/-, but since April 2002, I have only been receiving Rs 645/- per month, with no increase. Additionally, the bank that manages this does not maintain proper records of life certificates, causing further issues.
In my experience, receiving such a small installment is inefficient. It might be better to pay the individual a lump sum amount and save a significant amount of manpower and energy wasted on record-keeping and addressing complaints. Each visit to the bank or EPF office costs me a minimum of Rs 100/-.
I would like to know if there has been an increase in the monthly pension, especially considering the government announces so many DA installments to compensate for dearness to central government employees. Is dearness only for them and not for others?
Thank you for your assistance.
From India, Delhi
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