Thursday, December 22, 2011

Update about Fixing Minimum Pension by EPFO

The recommendations of the Pension Implementations of the Committee (PIC) of the Employees’ Provident Fund Organisation to increase the minimum pension amount to Rs. 1,000/- per month for its subscribers is to be placed before the Central Board of Trustees, Employees Provident Fund {CBT(EPF)} in its ensuing meeting for its consideration.
The recommendation of the PIC to increase minimum pension to Rs. 1,000/- per month as per actuarial valuation would require 0.63 per cent increase in the contribution of 8.33 per cent. Any follow-up action would arise only after consideration by CBT (EPF).
The Union Labour & Employment Minister Shri Mallikarjun Khrge gave this information in reply to a written question the in Rajya Sabha yesterday. 
Source : PIB
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