Epfo pension hike: Ever since the Modi government has brought UPS, there is a continuous discussion about increasing the minimum pension of PF employees. It is expected that the minimum pension of PF employees can increase to Rs 7,500. Currently, the minimum pension amount given to PF employees is Rs 1,000. There is a possibility of an increase of Rs 6500.
If this is done this year, it will be like a booster dose for PF employees. According to the report, the pension may increase by 650 percent. However, the government has officially said nothing about such an increase. Such claims are going on in media reports. The situation will be clear about the pension received under EPS in the coming days.
PF employees get guaranteed pension
Do you know that under EPS, the government has been giving pension to PF employees every month. The EPS scheme was started on 16 November 1999. EPFO started it for people working in the organized sector. With this, employees can avail guaranteed pension for their living even after retirement. PF Employees Organizations have been demanding to increase their minimum pension amount for a long time.
Know what is the pension system?
Currently, after retirement of PF employee, Rs 1,000 to 2,000 is given as minimum pension under EPS. The government made budgetary provisions for this on 1 September 2014. It has been almost 13 years and EPFO has not made any changes so far. It is expected that in any month of 2025, the minimum pension amount can be increased as soon as the review is completed.
Government pays interest every year
The government also gives many benefits to PF employees. In every financial year, PF also pays interest on the amount deposited in the account. The government has announced 8.25 per cent interest for FY 2024 and 2025. Now the amount of interest will start coming in the accounts of the employees. More than 7 crore families will benefit from this.
