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 Kharge gave this information in reply to a written question the in Rajya Sabha today.
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