Over 1.2 lakh opt for higher Pension under EPS-95

As many as 1,20,279 persons have applied online to opt for higher pension under Employees' Pension Scheme 1995 (EPS-95) till March 9, 2023, Parliament was informed on Thursday.

In November last year, the Supreme Court had asked the Employees' Provident Fund Organisation (EPFO) to give four months to subscribers as well as pensioners to contribute on their actual salaries towards EPS-95. Many EPFO subscribers have been contributing on a threshold (pensionable salary) of Rs 15,000 per month, which is less than their actual pay.

This option will enable beneficiaries to get a higher pension eventually.


"Till 09.03.2023, 1,20,279 applications/joint options were applied online at Unified Portal of EPFO by the employees," minister of state for labour and employment Rameswar Teli said in a written reply to Rajya Sabha.

The total number of beneficiaries in accordance with the directions given in the Supreme Court judgement of November 4, 2022, will depend upon the employees exercising the joint option and the number of such employees who are eligible, the minister explained.

The quantum of monthly pension payout for such pensioners will depend upon the number of eligible members exercising the option for pension at higher salary, he added.

UNORGANISED WORKERS
In another reply to the House, the minister said as on March 10, 2023, a total of 28.64 crore unorganised workers have been registered on eShram portal. As on March 31, 2022, a total of 3,250 representations have been lodged in the Grievance Management System claiming for accidental deaths/ disability by eShram registrants, he added. He also told the House that as on March 13, 2023, 2.79 crore domestic and household workers have registered on eShram portal out of which 2.67 crore are women.

LABOUR CODES
In another reply, Teli said as a step towards implementation of all four Labour Codes, rules are required to be framed by the central as well as state governments. The central government and a number of states/Union Territories have pre-published rules under the four Labour Codes.