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New Delhi : In a major decision, the Central Board of Trustees (CBT), EPF, at a meeting held at Hyderabad on August 21, 2019, approved the proposal to recommend for amendment in Employees’ Pension Scheme (EPS) 1995 for restoration of commuted value of pension to the Pensioners after 15 years of drawing commutation which will benefit approx. 6.3 lakhs pensioners. This was a long pending demand of the pensioners.
Minister of State (I/C) for Labour and Employment Santosh Kumar Gangwar, who is also Chairman CBT, while addressing the CBT expressed satisfaction that Employees’ Provident Fund Organisation (EPFO) is settling more than 91 % claims of EPF members in online mode and lauded the efforts made to improve services for settlement of claims of family of deceased members and EPF call centre function 24 by 7.
The Minister released an educative booklet on seasonal employees on special provision in EPS’1995 regarding eligibility of seasonal employees for pension. The contents of booklet brings out the Scheme provision that contributory service in any year, even if contributory period is less than a year, is treated as full year of eligible service for seasonal employee and this will help dispel doubts in minds of members/employers.
The Chairman CBT also launched the revamped EPFIGMS 2.0 version which will benefit more than 5 crores subscribers and lakhs of employers by speedy and smooth resolution of grievances, according toa PIB release.
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