(Video) Rajya Sabha TV (RSTV) The Big Picture: EPF Redefined

Topic: EPF Redefined

Guest:

AK Bhattacharya, (Editorial Director, Business Standard)
RR Kukreja, (Former Addl Commissioner, Central Provident Fund)
Jayant Dasgupta, (Former Policy Planner, Ministry of Commerce and Industry)

Topic Description:

An essential component of savings and pensions in Indian middle class and working class… gets redefined after recent orders of Kerala High Court and after the confirmation by a Supreme Court…

Earlier this week… the Supreme Court dismissed a plea filed against a Kerala High Court order that had asked Employees Provident Fund Organisation to provide pension to all retiring employees… rather than capping the figure to Rs 15,000 per month. In effect, all retiring employees will now get pension on their full salary instead of the Rs 15,000 cap…

In September 2018… a division Bench of the High Court of Kerala had nullified the amendments made to the Employees’ Pension Scheme in 2014 after a detailed hearing upon as many as 507 petitions filed by various organisations and individuals challenging the Employees’ Pension (Amendment) Scheme of 2014…

According to the new rules, introduced in the year 2014… new employees who earned more than the capped wages that means Rs 15,000… would not be eligible for EPS…

The bench comprising CJI Ranjan Gogoi, Justice Deepak Gupta and Justice Sanjiv Khanna dismissed the plea filed by EPFO saying that it finds no merit in the special leave petition… and hence, restoring the orders passed by the Kerala High Court…