EPS 95 PENSION HIKE NEWS : GOVT STARTS DISCUSSION ON MINIMUM PENSION HIKE UNDER EPS

 **auto-translation through some software on web. No authenticity of correctness**
July 25: The central government is finally starting to discuss the minimum monthly pension increase for the Employee Provident Fund (EPF). Today, the Union Labor Ministry has informed that a meeting of the Council of Employees' Provident Representatives (EPFO) will be convened at the end of the current session of Parliament. It is reported that the meeting will discuss the EPF's minimum monthly pension increase. The Center has been dealing with the issue for a long time even though a high-level committee comprising the Union Labor Ministry has recommended the government to increase the minimum monthly pension. The session of Parliament will end on August 7. Then, on this issue, an employee futuristic organization under the Union Minister of Labor is going to discuss urgent matters. But not only the EPF's minimum monthly pension increase. Whether EPF subscribers get pensions from their wages this month,

Currently, a pension customer under the EPF (Employees Pension Scheme or EPS) receives a minimum pension of Tk 1,000. The Labor Standing Parliamentary Standing Committee has mentioned in various reports earlier that this is not enough for daily living. The central government has been discussing for a long time about raising the minimum monthly pension from one thousand taka to at least two to three thousand taka. According to official sources, if the minimum monthly pension amount is increased by EPF, it may be increased to between two and three thousand. At present, companies that have at least 20 employees are covered by the EPFO. Of the employees who get a maximum salary of Rs. He is under the obligation of the Social Security Service EPF. A customer contributes 12 percent of his or her monthly salary and monthly allowance to the EPF sector. For that employee, his company authority contributes 12 percent more money. Of this, 1.5 percent goes to the employee's EPF account, while the remaining 5 percent goes to his pension account.

According to sources in the Union Ministry of Labor, a high-level expert committee headed by the Additional Secretary of the Union Labor Ministry has submitted a report on December 27 to the EPF's minimum monthly pension increase issue. And where that committee has specifically recommended, the minimum monthly pension of the EPF should be increased. The high-level expert committee has said that the EPF pension will be paid on the entire salary of the customers in the seven-point recommendation. At present, if a customer is promoted or for some other reason, the monthly maximum wage increase exceeds Rs. 3,000 and if he still wants to be under EPF, then the contribution of his pension will be deducted at the rate of Rs. Not over the month's increased pay. The central government is planning to change this rule.