EPS 95 Higher Pension Latest News from Rajya Sabha: Whether the Supreme Court has stipulated a time frame for Government to act on the judgement on EPF Pension Scheme

GOVERNMENT OF INDIA

MINISTRY OF LABOUR AND EMPLOYMENT

RAJYA SABHA

UNSTARRED QUESTION NO. 1862

TO BE ANSWERED ON 22.12.2022

SUPREME COURT JUDGEMENT ON EPF PENSION SCHEME

1862. DR. JOHN BRITTAS:

Will the Minister of Labour and Employment be pleased to state:

• (a)whether the Supreme Court has stipulated a time frame for Government to act on the judgement on EPF Pension Scheme;

• (b)if so, the details thereof and the response thereto; and

• (c)the effect of the Supreme Court judgement on EPF and the social security measures for the workers, the details thereof?

  
  

ANSWER

MINISTER OF STATE FOR LABOUR AND EMPLOYMENT

(SHRI RAMESWAR TELI)

(a) & (b): Yes, Sir. The Hon’ble Supreme Court, in its judgment dated 04.11.2022 has prescribed different sets of timelines to implement the directions as under:

• i. Six months to address the lack of statutory basis for the requirement of employees to pay 1.16% additional contribution.

  RRB ALP Recruitment 2023 Apply Online for 90445 Posts
  

• ii. Four months to exercise option under paragraph 11(4) of the scheme by all the employees who did not exercise option but were entitled to do but could not due to the interpretation on cut-off date by the authorities.

  
  

• iii.Eight weeks to implement the directives contained in the judgment dated 04.10.2016 of the Hon’ble Supreme Court in R. C. Gupta case relating to interpretation of the proviso to paragraph 11(3) (pre-amendment) of the Employees’ Pension Scheme, 1995.

(c): The said judgment of Hon’ble Supreme Court has legal, financial, actuarial and logistical implications.