In a move that promises to bring substantial financial respite to millions of retired private-sector employees across India, the Employees’ Provident Fund Organisation ( EPFO ) is reportedly set to hike the minimum pension under the Employees’ Pension Scheme (EPS) to ₹7,500 per month. One of India’s biggest social security programs is the Employees’ Pension Scheme (EPS), under authority of Employees’ Provident Fund Organisation ( EPFO ). Employees under this plan get a monthly pension that is determined by their pay and length of service. The EPS, that was introduced on 16 November 1995, is intended to give organised sector workers a steady income beyond retirement. The Central Government has proposed to increase the wage ceiling under EPF and EPS 95 from Rs. 15,000 ... The EPFO ₹7500 pension proposal is more than a policy shift – it’s a necessary evolution of India’s pension framework. As the government edges closer to approval, millions of retired workers await a long-overdue improvement in their post-retirement lives. Pensioners in India are expecting a massive hike in the minimum pension under the EPFO -backed employees' pension scheme (EPS) of 1995. The majority of reports are predicting that the minimum ...
