EPFO Benefit: Long-awaited relief for millions of retired employees associated with the Employees’ Provident Fund Organization (EPFO) now seems imminent. The demand for increasing the minimum pension has been raised for years, and now there are indications that the central government is seriously considering the issue. It is believed that a significant decision in this regard may be announced during or immediately after the budget session.
Minimum Pension Amount Unchanged for 11 Years
Currently, the minimum pension under the EPFO pension scheme is only Rs. 1,000 per month. Shockingly, this amount has remained unchanged for the past 11 years. During this period, inflation has continuously risen, making it extremely difficult for retired employees to meet their daily needs with such a meager amount.
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Pensioners’ Difficulties Due to Inflationary Pressure
Rising inflation, healthcare costs, and the prices of essential commodities have severely impacted the financial situation of pensioners. Many elderly employees are forced to depend on others even for their basic needs. This is why the demand for an increase in the minimum pension has now become not only an economic issue but also a matter of social dignity.
Employee Organizations Intensify Their Efforts
Employee organizations have long been dissatisfied with this issue. On January 6, a delegation from the Bharatiya Mazdoor Sangh met with the Union Minister of Labour and Employment and strongly reiterated the demand for increasing the minimum pension. Other organizations are also continuously pressuring the government, calling it a necessity of the times.
Demand for a pension of Rs. 7,000 to Rs. 10,000
Employee organizations believe that in the current circumstances, the minimum pension should be increased to at least Rs. 7,000 to Rs. 10,000 per month. They argue that this will help retired employees live a dignified life and strengthen the social security system.
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The Matter is Also Under Consideration in the Supreme Court
The matter related to the EPFO pension is also currently under consideration in the Supreme Court, which further increases its sensitivity and importance. Along with the legal aspects, the government is also seriously considering this proposal from a social security perspective.
A major government decision is expected soon
According to sources, the central government is actively considering a proposal to increase the minimum pension, keeping in mind the financial security of retired employees. If the decision is positive, it could prove to be a major relief for millions of pensioners.
Adarsh P
Adarsh Pal is a content writer at Timesbull Media. He specializes in writing news related to industry updates, the automotive sector, banking, telecommunications, the travel sector, and personal finance. Adarsh has previously worked with several digital media channels. He is skilled at presenting news accurately and disseminating information based on...
