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EPS PENSION COMPENSATION
EPFO held on to Rs 10 lakh for 11 years: Patna HC orders it to refund the deposit with 6% interest for ‘unjust enrichment’The Patna High Court has ordered the EPFO to pay 6% annual interest on a Rs 10 lakh deposit, citing unjust enrichment. The court ruled that...- EPS-95 Higher Pension: Employees contributing to EPF on actual wages cannot be denied higher EPS 95 pension if they were EPS members on September 1, 2014, rules HCThe Karnataka High Court has ruled in favour of exempt trust employees. Those who retired after September 1, 2014, and contributed Providen...
- Pensioners’ demands echoed: Parliamentary panel seeks hike in minimum EPS payout, say Rs 1000 insufficientA parliamentary panel has urged an immediate review of the Employees' Pension Scheme 1995's minimum monthly pension. The current Rs 1,000 i...
- UPS differs from OPS in pension calculation, minimum pension amount, lumpsum payment, employee contributionUnified Pension Scheme: The govt announced the Unified Pension Scheme (UPS) for government employees on August 24, 2024. The new pension sc...
- Higher EPS pension: Is it fair to ask EPFO members to accept unknown pension calculation?The deadline to apply for higher pension for eligible EPF members, who were in service on or after September 1, 2014, currently ends on May...
- Should you apply for higher EPS pension despite no clarity on certain issues from EPFO?An eligible employee can apply for higher EPS pension till May 3, 2023. Though the deadline is few days away, but there are certain issues ...
- How employees can submit joint application for higher EPS pension sans documents post Kerala High court orderEmployees who are eligible to apply for higher pension under the Employees' Pension Scheme (EPS) are confused about how they can submit joi...
- EPFO circular on higher pension under EPS; read the full guidelines hereEPFO issued a circular on February 20, 2023, with guidelines on how eligible employees who missed out on opting for a higher pension under ...
- How to find PPO number for pension in EPFThe Pension Payment Order (PPO) number is required when applying for pension and when submitting one's annual life certificate. Transferrin...
- Why applying for higher EPS pension may be a golden opportunityYou have to be an active EPS member with contribution for a minimum of 10 years to become eligible for pension at the retirement age. If yo...
- Know how much you need to pay to get the higher EPS pension, return you can earnIt will be easier for you to decide whether to go for higher EPS or not on the basis of the total return your extra contribution will gener...
- How will employees opting for higher EPS 95 pension compensate for lower contributions earlier?All eligible EPS 95 members who wish to apply for higher pension will have to make a higher contribution towards EPS 95 from the employer’s...
- Eligible employees who missed higher EPS pension option earlier can still apply: Latest EPFO circularEPFO has issued a circular on February 20, 2023 for employees who were members of EPS-95 scheme on August 31, 2014 on how they can apply fo...
- Maharashtra-Karnataka border row figures in Rajya SabhaPriyanka Chaturvedi of the Shiv Sena (Uddhav Balasaheb Thackeray), who had given the notice under rule 267, said the border issue between K...
- Retirement planning: How EPF, NPS can help you get government-like pensionOne of the common miscalculations which most people do while saving for retirement is the ability of the corpus to compensate for the infla...
- When is EPS pension credited into pensioner's bank account?The EPS ensures that private sector employees receive a pension once they reach the age of 58 years. The employee and employer each contrib...
- Standard deduction benefit doubtful for private sector pensionersAs per experts it appears unlikely that, as per existing laws, a person getting these kind of pensions –EPS or annuity—would be able to cla...
- Centre reviewing labour laws: Union Home Minister Rajnath Singh"Several hurdles are faced due to some labour laws. There are 44 laws which are being reviewed by the centre," Rajnath said.
- 100% job creation has happened in informal jobs as labour laws confiscate half of gross salaryIn the CTC world of formal employment, employers are required to deduct almost half of gross salary under various legislation, says Manish ...
- India Inc derisking pension schemesMany companies have already moved their pension funds to DC schemes and many more are following suit.
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