EPS – Private employees receive pension Rs 7,500 after retirement! know update

EPFO Pension – Government employees are given the benefit of a pension after retirement. However, very few people know that private employees also receive a monthly pension. Certain conditions must be met. Did you know that if your PF is deducted while working in a private job, then you will receive the pension benefit every month?

The government has launched the Employees’ Pension Scheme (EPS) for this purpose. Now, employee organisations are demanding an increase in this pension amount. They are demanding that the minimum amount of EPS be increased to Rs. 7,500. No official statement has been made yet, but such speculation is being made in media reports.

Current Minimum Amount of EPS

The EPFO ​​provides a monthly pension under the EPS. Currently, the minimum amount of EPS is Rs. 1,000 per month. This amount has remained stable since 2014. No changes have been made for 11 years. The minimum amount of the Employees’ Pension Scheme may be increased. It is expected that the minimum pension amount could now reach ₹7,500.

This could include a dearness allowance and a component linked to inflation. Importantly, this could be adjusted twice a year. Several million members are currently benefiting from the Employees’ Pension Scheme. A meeting of the Central Board of Trustees is expected soon, where this decision may be made.

Who benefits from the EPS?

According to EPFO ​​rules, not everyone benefits from the Employees’ Pension Scheme. Under this scheme, a pension is available only if you have worked for a minimum of 10 years. Furthermore, if you retire at 58, you will receive the full pension. The government has launched the pension scheme to ensure that employees remain financially prosperous in their old age.

PF employees receive this monthly benefit.

The Central Government also provides PF employees with an annual interest benefit. The government transferred 8.25% interest to accounts for the financial years 2024 and 2025. The question remains as to how much interest will be paid in the upcoming financial year 2025-2026. It is hoped that the central government will provide a reasonable interest amount this time as well.