6 crore pensioners and Increase In EPFO Central Employees. offer of centre government

If you are a pensioner or do a job, then reading this news is very important for you. Good news for you In fact, the Employees Provident Fund Organization (EPFO) can take a decision today (5 March 2020) on doubling the minimum monthly pension (Pension) of employees from Rs 1000 to Rs 2,000.

If you are a pensioner or do a job, then reading this news is very important for you. Good news for you In fact, the Employees Provident Fund Organization (EPFO) can take a decision today (5 March 2020) on doubling the minimum monthly pension (Pension) of employees from Rs 1000 to Rs 2,000. According to information received from the sources, the Finance Ministry has asked the Ministry of Labor to agree on one of the different proposals for increase in pension. Let us tell you that the PF company contributes 12 percent of the basic salary (basic salary plus dearness allowance) of the employees who come under the ambit of the Employees Provident Fund. But 8.33 percent of the company's 12 percent contribution goes to the EPS (Employee Pension Scheme). Apart from this, the central government also contributes 1.16 percent of the basic salary. The Ministry of Labor has proposed to increase the minimum pension from one thousand to 2 thousand. Right there Labor Union has demanded a minimum pension of Rs 3000. There is a demand for increase in pension of organized sector on the lines of non-organized sector. The Finance Ministry has also been proposed to increase the Universal Pension.
In the meeting to be held today, the decision may be taken by the
 CBT to agree on new proposals. The interest rate on PF for the financial year 2020 will also be decided in the meeting of March 5. If the proposal is passed in the meeting, then the Finance Ministry will decide on it. Labor minister Santosh Kumar Gangwar had recently said in response to a question that increasing the minimum pension would put a lot of burden on the government exchequer. This will increase government expenditure to Rs 5955 crore. However, about 39.72 lakh pensioners will benefit from this.