Now Reading: Centre tells Rajya Sabha EPS higher pension applies uniformly
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Centre tells Rajya Sabha EPS higher pension applies uniformly
The Centre has told Rajya Sabha that the November 2022 Supreme Court judgment on higher pension under the Employees' Pension Scheme (EPS), 1995, applies uniformly to employees of both exempted and unexempted…
The Story in Brief
The Centre has told Rajya Sabha that the November 2022 Supreme Court judgment on higher pension under the Employees' Pension Scheme (EPS), 1995, applies uniformly to employees of both exempted and unexempted establishments. The clarification came on August 6 in response to BJP MP Ajeet Madhavrao Gopchade, who cited a July 9 Madras High Court ruling that reaffirmed higher pension rights for employees of exempted establishments.
The higher pension option allows eligible subscribers to contribute based on actual wages rather than the Rs 15,000 ceiling. Exempted establishments operate private provident fund trusts, while unexempted ones follow EPFO-administered rules. The government said it has provided an online facility for subscribers seeking higher pension and is processing joint-option applications according to applicable provisions.
The Indian Opinion
The Centre's assurance of uniform implementation skirts the real friction. Employees of exempted establishments have long argued they were being shortchanged on the 2022 Supreme Court ruling. The Madras High Court's July 9 order forced the issue, but the government is yet to disclose how many applications from exempted firms have been approved. The test is not the floor statement but the monthly processing data the EPFO releases. How many of those pending joint-option validations, especially from exempted trusts, are actually cleared?
Source: english.mathrubhumi.com
This story was synthesised by AI from the source linked above.
