EPS 95 Pension Question Hours in Lok Sabha by Shri Natarajan EPS95,EPFO,EPF News 2020
#EPS95 , #EPF , #EPFO , #LOK_SABHA , #PensionHike
Monthly pension = Number of years multiplied by last drawn salary divided by 70. But EPS pension is very low because EPFO capped the salary used for computation of pension at Rs 15,000 per month. It also capped the contribution to the EPS. Instead of 8.33% of the employer's contribution, it was Rs 15,000 per year.
The minimum pension amount may be increased from ₹ 1000 to ₹ 2000 every month. There are more than 60 lakh subscribers of Employees' Pension Scheme, 1995 and more than 40 lakh members get pension less than ₹ 1500 every month.
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