SMEConnect Portal and Magazine

Search for:

Home » Economy » EPFO Verifies 1.7 Million Applications for Higher EPS Pension

EPFO Verifies 1.7 Million Applications for Higher EPS Pension

SMEConnect-Desk

December 17, 2024

Economy

0

Share

More than 1.7 million employees have opted for a higher pension under the Employees’ Pension Scheme (EPS-95) following a landmark Supreme Court ruling. The ruling allows eligible employees to contribute to the scheme based on their actual salary, rather than a fixed cap.

The EPS-95, a social security scheme for organized sector employees, has traditionally limited contributions to Rs 15,000 per month. The recent change enables employees to potentially increase their future pension benefits.

To facilitate this process, the EPFO has introduced an online platform for submitting joint options. The Labour Ministry is also considering further reforms to the EPS-95, potentially allowing for increased member contributions.

Source : EPFO news: 1.7 mn employees under EPS 95 opt for higher EPS contribution – BusinessToday

« Key Schengen Visa Updates: What to Expect in 2025Significant Growth in MSME Exports During April-November Period »

Related Posts

• 

• 

• 

• 

• 

• 

• 

• 

• 

• 

SEARCH SMECONNECT-DESK

Search for:

RECENT POST

• Piyush Goyal meets startup founders in Delhi, weeks after questioning lack of innovation by many new cos.
• Taiwanese Industrial Park near Chennai set to draw ₹10,000 crores investment
• More than 28,000 Startups shut shop in last two years
• T.N. Startup Summit: Panelists stress need for policy framework that fosters inclusivity in startups
• MSME’s moving from traditional lenders to capital markets

Reader / Viewer discretion and disclaimer :
The information provided on SMEConnect (www.smeconnect.in) website is intended for general informational purposes only. While we strive to provide accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or reliability of the content. The views and opinions expressed in the articles and posts on this website are those of the authors and do not necessarily reflect the official policy or position of SMEConnect website. Readers are advised to independently verify any information found on this website before making decisions based on it. We do not endorse, represent, or warrant the accuracy or reliability of any third-party content linked on this site. Furthermore, SMEConnect (www.smeconnect.in) website shall not be held liable for any errors, omissions, or delays in the information provided, nor for any losses, injuries, or damages arising from its display or use. Please note that the content on SMEConnect (www.smeconnect.in) website may be subject to change without notice.