‘Implement SC verdict on EPS’

Visakha Steel Employees’ Union honorary president and INTUC leader Padi Trinadha Rao has appealed to Union Labour Minister Bandaru Dattatreya to allow employees of RINL and other companies to contribute higher amounts for Employees’ Pension Scheme as per the judgment given by the Supreme Court.

In a representation to the Union Minister, he said on Saturday that the apex court had ruled that the employees not opting on the basis of actual salary could avail the option. The employees have to contribute 8.33% on their salary to EPS-1995 with interest accrued on it if they are interested to avail higher pension benefit.

Mr. Rao said though the Minister had promised Parliament on March 23 that they would implement the court ruling in toto, a fresh order was issued on May 31 diluting the judgment.

Instead of listing as exempted and not exempted categories, employees of all establishments should be allowed to avail higher contribution option to get more towards their pension after their retirement under EPS-1995, he said.

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Printable version | Feb 24, 2020 6:03:13 AM |

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