EPFO Update – Ever since the introduction of UPS for central government employees, private sector employees have also been demanding an increase in the minimum contribution amount under EPS. The minimum pension for PF employees could be raised to ₹6,500.

Employees have been demanding this for a long time, but the government has provided no updates beyond assurances. Numerous representations have been received, but the government has yet to decide on this matter. Currently, approximately 7.8 million employees receive a pension under EPS.

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EPS Helpful for Employees

There is a demand to increase the minimum contribution amount under the Employees’ Pension Scheme (EPS) to ₹6,500 per month. Currently, the minimum contribution amount is ₹1,000. This amount was also fixed in 2014. Only employees who have been EPFO ​​members for at least 10 years will be eligible for EPS benefits.

Additionally, pension benefits will begin after the age of 58. Many companies do not deduct PF from their employees. Only those whose provident fund is deducted will be covered under EPS. The next Central Board and Trustee meeting is expected to bring good news to everyone.

PF Withdrawals to Be Easier

The central government is considering simplifying the PF withdrawal process. The EPFO ​​will soon operate ATM facilities for PF withdrawals. This means that PF employees will be able to easily withdraw their funds using ATM cards. The government may launch this in January 2026.

Government Pays Interest

The government pays interest on the PF deposits in employees’ accounts every financial year. In the year 2024-2025, 8.25% interest was paid to PF employees. Approximately 7 crore employees will benefit. The lowest interest amount was received during the COVID-19 pandemic.

Now, it is expected that all employees will receive an interest in the upcoming financial year. This time, the government may increase the interest amount. This could provide significant benefits to employees.