EPFO Pension Scheme: Pension will be Doubled, Limit of Rs 15000 is Removed
There is good news for lakhs of employees working in the private sector of the country.
With the decision of the Supreme Court, his pension can be increased by at least Rs 8500.
The Employees’ Provident Fund Organization (EPFO) has put a cap of Rs 15000 on the basic salary of lakhs of employees working in the private sector.
But, after the decision of the Supreme Court, this cap will be removed and the pension will be calculated at Rs 20000 instead of Rs 15000.
If this happens, then the monthly pension of the employees can be increased by at least
EPFO has put a cap on 15000, even if the salary of an employee is more than Rs 15000, then the PF on salary will be calculated at Rs 15000 only.
if the basic salary of an employee is Rs 50000 and he wants to calculate his pension on 50000 only, then he cannot do so.
If the salary (basic pay + dearness allowance) of an employee is 20k rupees. According to the pension formula, the pension will be