New Delhi: Employee unions have long advocated for increasing the minimum pension amount under the Employees’ Pension Scheme (EPS), 1995, with representations from employees and other stakeholders.

Regarding an increase in the pension amount, Member of Parliament Asaduddin Owaisi raised questions in the Lok Sabha about any proposal to increase the minimum pension amount under EPS, 1995. He asked about any pensioner representations under EPS, 1995, requesting an increase in the minimum pension amount and seeking details of the proposed proposal.

Pankaj Chaudhary, Minister of State for Finance, stated that the Ministry of Labour and Employment has received representations from stakeholders, including trade unions, requesting an increase in the minimum pension amount under the EPS.

Owaisi inquired about the government’s assessment of representations to increase EPS pensions, based on the observation by the Standing Committee on Labour, Textile and Skill Development’s 30th report, and its findings.

In his reply, the minister said, “the EPS, 1995 is a ‘Defined Contribution-Defined Benefit’ Social Security Scheme. The corpus of the Employees’ Pension Fund is made up of (i) contribution by the employer @ 8.33 per cent of wages; and (ii) contribution from Central Government through budgetary support @ 1.16 per cent of wages up to an amount of Rs 15,000/- per month. All benefits under the scheme are paid out of such accumulations. The fund is valued annually as mandated under paragraph 32 of the EPS, 1995 and as per the valuation of the fund as on 31.03.2019, there is an actuarial deficit.”

The parliamentarian inquired about the government’s intentions to allocate funds for an increase in pension under the EPS, 1995, and if so, the reasons behind this decision.

The Minister replied, “Government, for the first time, in the year 2014, provided a minimum pension of Rs 1000 per month to the pensioners under the EPS, 1995 by providing budgetary support, which was in addition to the budgetary support of 1.16 per cent of wages provided annually towards EPS to Employees’ Provident Fund Organization (EPFO).”

Minimum pension of Rs 1,000 under EPS95

The central government announced a minimum pension of Rs 1,000 per month for pensioners under EPS, 1995 in September 2014. However, the labour ministry proposed doubling the pension to Rs 2,000 per month under EPS-95, but it was not approved.

New Delhi: The number of contributing members to the EPFO (Employees’ Provident Fund Organisation) has risen by 7.6 per cent to 7.37 crore in 2023-24 from 6.85 crore in 202-2023 while the number of establishments making contributions to the organisation has risen by 6.6 per cent to 7.66 lakh during this period, according to a statement issued by the Labour Ministry on Sunday. 

This reflects both the increase in employment and business establishments in the organised sector of the Indian economy, which offers a better standard of living to workers,

The EPFO also saw an increase of 55.4 per cent to Rs 5,268 crore in realising arrear dues compared to the corresponding figure of Rs 3,390 crore in the previous year.

There was also an increase of 7.8 per cent in the number of claims settled over the previous year (4.45 crore from 412.86 crore). The Executive Committee recommended the report for adoption to the Central Board, the press statement added.

The figures form part of the Annual Report for the year 2023-24 on the functioning of EPFO which was considered by the Executive Committee meeting on Friday headed by Sumita Dawra, Secretary (Labour & Employment).

The Audited Annual Accounts of EPFO for the years 2021-22 and 2022-23 were placed before the Committee for consideration of recommendation to the Board, thus ensuring that the backlog of annual account was cleared.

The Committee gave directions that the audited accounts for the year 2023-24 should be prepared and presented in time.

As an important initiative, the Executive Committee approved the hiring of two Chartered Accountant firms for the preparation of Annual Financial Statements of EPFO, and to facilitate the automation of the process of preparation of financial statements. This will ensure that the annual accounts are prepared timely, and bring in professionalism and the latest practices in the process, the press statement said.

In another significant decision, the Executive Committee also considered the draft New Compassionate Appointment Policy, 2024, with a goal to bring relief to the dependents and wards of many employees of EPFO, who had unfortunately died in harness, many of which had occurred during the Covid pandemic period.

Further, the Executive Committee deliberated several other proposals related to information technology, administrative, financial, and related aspects for good governance in EPFO.

The reform agenda of EPFO was discussed at length. It was appreciated that EPFO has relaxed the criteria for auto-settlement of claims with respect to the ceiling as well as the categories of admissible grounds for claim.

Other reforms related to streamlining processes, making it easier for members to get their claims processed were also taken up.

Steps to enable centralised pension payment as well as interventions in improving IT related software and hardware were discussed, and timelines for completion of overhaul of the IT system were noted, the statement added.

Life Certificate For Pensioners Online: More than 1.8 lakh pensioners generated their digital life certificates (DLC) on the very first day, even as the government rolled out the largest-ever campaign, the Ministry of Personnel, Public Grievances & Pensions said. 

The Department of Pension and Pensioners’ Welfare on Friday launched the third and the largest nationwide DLC campaign in 800 cities or districts across India from November 1-30. 

The authentication is carried out against UIDAI’s Aadhaar database using UIDAI’s Face Recognition Application. In June, the Employees’ Provident Fund Organisation (EPFO) noted a more than threefold jump in the number of EPS pensioners submitting Facial Authentication Technology-based Digital Life Certificates – from 2.1 lakh in 2022-23 to 6.6 lakh in 2023-24. 

Life Certificate Submission Deadline Date

Life certificates can be submitted between November 1 and 30 for those under 80 years old. Super senior citizens (aged 80 and above) have been allowed to submit their life certificates starting October 1, with the same deadline of November 30.  

Ways To Submit Life Certificate

Pensioners and family pensioners have multiple options to submit their life certificates to ensure the continuous disbursement of pensions. They can conveniently use the Jeevan Pramaan Portal, a digital platform designed for online certificate submission, or opt for the Doorstep Banking (DSB) Agent service, which brings the process to their home. 

Adding further, pensioners can visit post offices equipped with biometric devices for on-the-spot verification. For those who prefer traditional methods, physical life certificate forms can be submitted directly at bank branches. 

How To Submit A Jeevan Pramaan Certificate Online 

Step 1: Pensioners should ensure that the Aadhaar number is updated with your pension disbursing authority, such as your bank or post office.

Step 2: Install the “Aadhaar Face RD” and “Jeevan Pramaan Face App” from the Google Play Store.

Step 3: Launch the app and select the option to authenticate identity using biometric methods, such as face, fingerprint, or iris recognition. 

Step 4: Fill in all the required details about the pensioner as prompted in the app. 

Step 5: Use your smartphone’s camera to take a photograph or follow the instructions for fingerprint or iris recognition. 

Step 6: After capturing the biometric data, submit the information through the app. 

Step 7: You’ll receive an SMS with a link on the registered mobile number, allowing you to download the Jeevan Pramaan Certificate as proof of life certification. 

How To Submit A Jeevan Pramaan Certificate Offline

Submit the certificate directly at your bank, post office, or other designated locations. (With IANS Inputs)

New Delhi: The Employees’ Provident Fund Organisation (EPFO) has made a net addition of 1.85 million members in August, an increase of 9.07% year-on-year (YoY).

The ministry of labour and employment said that EPFO enrolled around 930,000 new members in August, with an increase of 0.48% in the new members from August 2023.

The net figure is made up of both new members, and those who have rejoined after leaving work.

Surge in membership

“This surge in new memberships can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO ‘s successful outreach programs,” said the statement.

The data showed that people from the 18-25 age group constituted about 59.26% of the total new members added in August 2024. Further, the net payroll data for the age group 18-25 for August 2024 is about 806,000.

“This is in consonance with the earlier trend which indicates that most individuals joining the organized workforce are youth, primarily first-time job seekers,” the ministry said.

Gender-wise analysis of payroll data reveals that out of the new members added during the month under review, around 253,000 are new female members, indicating a growth of 3.75% in the addition of new female members in August 2023. Also, the net female member addition during the month stood at around 379,000, with 10.41% year-on-year growth. The surge in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce.

The payroll data further highlighted that around 1.35 million members exited and subsequently rejoined EPFO. This figure depicts year-over-year growth of 14.03% compared to August 2023.

These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, safeguarding long-term financial well-being and extending their social security protection.

In terms of state-wise analysis of payroll data denotes that net member addition in the top five states or union territories constitutes around 59.17% of net member addition, adding a total around 1.09 million net members during the month. Of the states, Maharashtra is leading by adding 20.59% of net members during the month. Maharashtra, Karnataka, Tamil Nadu, Haryana, Delhi, Gujarat, Telangana and Uttar Pradesh individually added more than 5% of the total net members during August.