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Monday, Jun 23, 2025
The EPF is managed by the Employees' Provident Fund Organisation. Several retired and serving employees feel that the pension it disburses, which is not in proportion to their salary, is rendering a huge loss to all subscribers.
As per the order, panchayat members who earn a monthly honorarium of Rs 8,000 and Corporation members who are paid Rs 8,200 will be eligible for the pension.
In the R C Gupta case of 2016, the Supreme Court had ruled that the EPFO’s decision to fix a cut-off date to give option for higher pension was wrong.
There were 40.91 lakh beneficiaries at the time.
The Supreme Court said last year in November that the EPFO should provide four months to all eligible members to opt for higher pension. The deadline is now extended to May 3, this year.
The deadline within which the options have to be exercised is just 10 days away.
The State has to pay Rs 2,800 crore as the pension revision arrears and Rs 1,400 crore as the DR arrears.
The final installments of both pension and DA were supposed to be paid in August 2021 and November 2021.
The State has decided to strictly conform to the income limit of Rs 1 lakh a year to be eligible for social security pension.
The excess amounts paid to those who retired before 2014 without exercising the option for higher pension are being recovered.
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