Latest news with #Employees'PensionScheme
Time of India
28-07-2025
- Business
- Time of India
Will minimum EPS-95 pension be hiked this festive season? Govt responds in Parliament
What is EPS? Academy Empower your mind, elevate your skills Questions on minimum pension under EPF-95 Is there any decision expected ahead of the upcoming festive season? Pensioners in India are looking forward to a long-awaited increase in the minimum monthly pension amount under the Employees' Pension Scheme (EPS-95). The current minimum pension is Rs. 1,000 per month, but trade unions, pensioners' associations and public representatives have been urging the government to raise the government has also confirmed that it has received many requests from trade unions and public representatives for an increase in the minimum Employee Pension Scheme (EPS) is a retirement benefit plan introduced by the Indian government in 1995 to provide financial security to employees after they stop working. It is part of the Employees' Provident Fund (EPF) framework. While, EPF serves as a lump sum retirement corpus, EPS provides pension upon retirement. This pension varies depending on the member salary and years of service. The funds in EPS need not be contributed Wealth Online tells you in detail the questions asked by the Members of Parliament on the minimum pension hike and the government's reply on the read: Higher pension: These central government employees to get pension hike due to minor salary increase Members of Parliament Vaiko and M. Shanmugam asked various questions on minimum pension.(a) Whether the demand to enhance minimum pension in Employees Pension Scheme (EPS-95) is under consideration of Government for a long time?(b) If so, by when Government will take a decision, especially in view of mounting pressure from the trade unions and the court judgments?(c) The constraint in increasing the EPF pension when there are sufficient funds available in the corpus fund and the accumulated unclaimed funds? and(d) Whether Government would expedite a decision in view of coming festival season?The government responded to the questions in Parliament:Representations have been received from various stakeholders including trade unions and public representatives to increase the minimum pension under the Employees' Pension Scheme (EPS), 1995 from existing Rs. 1000/- per month. The EPS, 1995 is a "Defined Contribution-Defined Benefit" Social Security Scheme. The corpus of the Employees' Pension Fund is made up of (i) contribution by the employer @ 8.33 per cent of wages; and (ii) contribution from Central Government through budgetary support @ 1.16 per cent of wages up to an amount of Rs.15,000/- per month. All benefits under the scheme are paid out of such accumulations. The fund is valued annually as mandated under paragraph 32 of the EPS, 1995 and as per the valuation of the fund as on 31.03.2019, there is an actuarial deficit. However, the Government is providing a minimum pension of Rs. 1000 per month to the pensioners under the EPS, 1995 by providing budgetary support, which is in addition to the budgetary support of 1.16 per cent of wages provided annually towards EPS to Employees' Provident Fund Organisation (EPFO).There is no confirmation of a pension hike before the festive season. The government did not commit to a timeline but reiterated that it continues to provide budgetary support to ensure the minimum Rs 1,000 pension.
The Hindu
21-07-2025
- Business
- The Hindu
EPFO disposed of over 98.5% applications for pension on higher wages: government
The retirement fund body Employees' Provident Fund Organisation (EPFO) has processed and disposed of 98.5% of the 15,24,150 applications for pension on higher wages (PoHW) as of July 16, Parliament was informed on Monday (July 21, 2025). According to a written reply in the Lok Sabha by Minister of State for Labour & Employment Shobha Karandlaje, 4,00,573 demand letters were issued to applicants eligible for PoHW and 11,01,582 were rejected, while 21,995 are pending. 'EPFO has processed and disposed of applications for pension on higher wages as per the directions of the Supreme Court in its judgement dated November 4, 2022. As on July 16, 2025, more than 98.5 per cent applications have been disposed of by EPFO,' the Minister said in her written reply on Monday. The cases of PoHW are being processed on the basis of the decision of the Supreme Court on November 4, 2022. Earlier in November 2022, the court had upheld the Employees' Pension (Amendment) Scheme 2014. The Employees' Pension Scheme amendment of August 22, 2014, had raised the pensionable salary cap to ₹15,000 a month from ₹6,500 a month, and allowed members, along with their employers, to contribute 8.33% on their actual salaries (if it exceeded the cap) towards the EPS. It had given all EPS members, as on September 1, 2014, six months to opt for the amended scheme. Later, the EPFO had also extended the deadline for members as well as employers to submit documents many times.
News18
21-07-2025
- Business
- News18
EPFO disposed of over 98.5 pc applications for pension on higher wages: Govt
Agency: New Delhi, Jul 21 (PTI) Retirement fund body EPFO has processed and disposed of 98.5 per cent of the 15,24,150 applications for pension on higher wages (PoHW) as of July 16, 2025, Parliament was informed on Monday. According to a written reply in the Lok Sabha by Minister of State for Labour & Employment Shobha Karandlaje, 4,00,573 demand letters were issued to applicants eligible for PoHW and 11,01,582 were rejected while 21,995 are pending. 'EPFO has processed and disposed of applications for pension on higher wages as per the directions of the Supreme Court in its judgement dated November 4, 2022. As on July 16, 2025, more than 98.5 per cent applications have been disposed off by EPFO," the minister said in his written reply on Monday. The cases of PoHW are being processed on the basis of the decision of the Supreme Court on November 4, 2022. Earlier in November 2022, the Supreme Court had upheld Employees' Pension (Amendment) Scheme 2014. The Employees' Pension Scheme amendment of August 22, 2014 had raised the pensionable salary cap to Rs 15,000 a month from Rs 6,500 a month, and allowed members, along with their employers, to contribute 8.33 per cent on their actual salaries (if it exceeded the cap) towards the EPS. It had given all EPS members, as on September 1, 2014, six months to opt for the amended scheme. Later, the EPFO had also extended the deadline for members as well as employers to submit documents many times. PTI KKS TRB view comments First Published: July 21, 2025, 18:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
21-07-2025
- Business
- News18
Facing EPFO Site Errors? UMANG App Offers A Smart Alternative
Last Updated: A multi-utility government application, UMANG, helps EPF members register and avail of various services, including checking their EPF passbook and tracking claims submitted. Employees' Provident Fund Organisation (EPFO) members who are tired of facing site errors while trying to check their EPF passbook need no longer worry. You can access the EPFO services even when the official portal undergoes technical faults or downtimes by using UMANG. A government-backed mobile application, Unified Mobile Application for New-age Governance (UMANG), helps EPF members check their PF balances, submit claims and perform other essential tasks without entering the official EPFO portal. A convenient and user-friendly platform, the UMANG application offers all EPFO-related facilities to members on their smartphones. Whether it is checking the EPF passbook, balance, raising or tracking claims, applying for Scheme Certificates or even activating your UAN. UMANG is the way to go. EPF members seeking a full or partial claim against their UAN can do so directly from the UMANG app, with just a few taps on their mobile phones. One can also avoid the hassle of visiting the EPFO offices for pension scheme certificate applications through the app, which allows us to track the status (only the non-financial details) of the claims raised against a member ID. The UMANG app helps members check their EPF passbooks if they are unable to do so through the online portal, providing a summarised overview of transactions done in their pension account of PF for the last 3 months. If members wish to go further back, the rest can be downloaded in PDF format. Members of the Employees' Pension Scheme (EPS) can download their pension payment order using the UMANG app. The application has eased the process of acquiring the order that helps you get your pension after retirement. Additionally, EPF members can generate and activate a Universal Account Number (UAN) for first-time users via the multi-utility UMANG application. 'This service leverages secure face authentication, ensuring a seamless and reliable process. Employees can quickly access their EPF accounts without requiring extensive paperwork or manual verification steps," says the UMANG website. The app comes with a range of other benefits, including status tracking of any grievances or requests made through the eMigrate web portal, allowing you to check whether the government has taken any prompt action on your complaints. Members can download the UMANG app from the Google Play/App Store. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
18-07-2025
- Business
- Business Standard
Lost your PPO number? Here's how you can find it online, and offline
Pension Payment Order (PPO) number is a critical identifier for retirees drawing pensions under the Employees' Pension Scheme (EPS), managed by the Employees' Provident Fund Organisation (EPFO). This 12-digit number helps track pension disbursement, update records, or lodge complaints. If you've misplaced it or never received the PPO document, there are several ways, both online and offline, to retrieve it. How to find PPO number online? 1. EPFO Pensioners' Portal Visit the EPFO's official Pensioners' Portal. In the 'Know Your PPO No.' section, enter your registered bank account number or EPS member ID. If your details match EPFO's records, your PPO number will appear instantly. 2. UMANG app The government's UMANG (Unified Mobile Application for New-age Governance) app offers a convenient option. After logging in, go to 'EPFO' services, then select 'Pensioner Services' > 'Know your PPO Number'. You can retrieve your PPO number by entering your Aadhaar or bank account details linked to your EPS account. 3. DigiLocker EPFO has also enabled downloading PPO certificates via DigiLocker under the Digital India initiative. Download the DigiLocker app or visit Sign up and link your Aadhaar (ensure your Aadhaar-linked mobile number is active for OTP verification). Search for 'Employees Provident Fund Organisation' under 'Issued Documents' and provide your PPO number and last four digits of your pension-linked bank account. Once verified, your PPO certificate will be fetched directly from EPFO's records. How to get your PPO number offline? If you're not comfortable with online methods, visit the branch of the bank disbursing your pension. Provide your pension-linked savings account number, and they can help retrieve the PPO number from their system. Keep your PPO number safe
