EPS Pension Hike: EPFO members will get good news soon! Pension will increase to Rs 7500..

EPS Pension Hike: Crores of EPFO members may soon get good news. According to media reports, a parliamentary committee has demanded to increase the minimum pension of those working in the private sector from Rs 1,000 to Rs 7,500. In 2014, the central government increased the minimum pension given to EPFO subscribers from Rs 250 to Rs 1,000 per month.

Trade unions and pensioners' associations have been demanding for a long time that the minimum pension be increased to at least Rs 7,500 per month. On this, they say that inflation has increased a lot, so the pension should also increase. Let us tell you, no change has been made to it in the last 11 years.

Inflation increased several times compared to 2014

According to media reports, the Parliamentary Standing Committee on Labor has urged the central government to increase the minimum pension given under the Employees' Pension Scheme (EPS) of EPFO. Currently, this pension is Rs 1,000 per month. On this, the committee said that inflation has increased manifold in 2025 as compared to 2014 and accordingly, there is a need to increase the pension. The committee further said that keeping in mind the financial impact, the government needs to pay attention to this given the pensioners and their family members.

How much money is deducted from the pension

On this, the committee said that after 30 years of the start of the scheme, its third-party valuation is being done. The committee said that this exercise should be completed within a fixed limit before the end of the year 2025. A deduction of 12 percent is made on the basic salary of people doing private jobs for the EPF account. Along with this, the company also deposits this much money in the PF account of the employee, and out of the money deposited by the employer, 8.33 percent goes to EPS, while the remaining 3.67 percent goes to EPF.

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