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EPF Pension is Expected to Go Up by Rs 8,500

The Government of India keeps working in the favour of Indians and on the same line it has brought good news for every employee working in the private sector. Although we are waiting for the Supreme Court’s approval, the pension of the employees is expected to increase by at least Rs. 8,500.

In addition to this, the salary of the central government employees is expected to increase by some amount which shall be discussed in this article later. 

The Employees’ Provident Fund Organization (EPFO) has limited the basic salary of lakhs of employees working in the private sector to Rs. 15,000. The pension of the employees is calculated on this set amount.

However, upon the decision confirmation from the Supreme Court, this limit will be raised up to Rs. 20,000. If this is approved, then the monthly pension of the employees may also hike by a minimum amount of Rs. 8,500.

New Rule Of EPF Pension Hike

In addition to this, let’s say the basic salary of the employee is Rs. 50,000 or more, then the PF calculated on this salary will not exceed the amount of Rs. 15,000.

It is because the EPFO has set a limit to the pension that is Rs. 15,000. So, irrespective of the amount of monthly salary someone earns, the pension can not exceed Rs. 15,000.

An Increase in Pension

The Supreme Court is taking a hearing on the matter of removing the salary limit from Rs. 15,000 and making it Rs. 20,000. Once it is done, the PF money will be deducted at the highest level.

As soon as the Supreme Court takes the right decision in the favour of the employees, lakhs of people working in the private sector will be benefited in the best way possible.

Also Read:

Supreme Court: All Employees Can Register For EPFO Pension Scheme

Komalpreet

Words help me express the unsaid and we have come a long way while walking hand in hand like that so now I write about anything and everything that ignites the spark of inspiration in me.

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