INDIA
Subscribers to the retirement fund EPFO will get a minimum of Rs 1,000 a month from October 1 under Employees' Pension Scheme 1995 (EPS-95) as the government formally launched the programme on Tuesday.
The government will shell out an estimated Rs 1,200 crore to provide for this entitlement.
According to EPFO estimates, around 32 lakh pensioners under the scheme, who get less than Rs 1,000 every month as pension, will benefit immediately. There are 49 lakh pensioners under the scheme and about 13 lakh get less than Rs 500 a month.
The government had last month notified amendment to the EPS-95 to provide a minimum monthly pension of Rs 1,000 to beneficiaries under the scheme which provides for the benefit after attaining the age of 58.
As many as 37 Union Ministers and other MPs presided over separate functions simultaneously to launch the entitlement at different offices of the Employees' Provident Fund Organisation across the country, a senior official said. EPFO has over 120 offices in the country. However, these launch functions were not held in the EPFO's regional offices in Maharashtra and Haryana in view of forthcoming assembly elections scheduled next month.
Union Ministers present at 37 different locations included Home Minister Rajnath Singh (Lucknow), Telecom Minister Ravi Shankar Prasad (Kolkata), Railway Minister DV Sadananda Gowda (Manglore), Water Resource Minister Uma Bharti (Allahabad).
Labour Minister Narendra Sigh Tomar attended the function at Gwalior. Health Minister Harsh Vardhan presided a similar function at Delhi.
Tomar said: "EPFO is making history by providing Rs 1,000 as guaranteed pension. Labour Ministry has increasingly come under the limelight in the recent days and now 'Shramev Jayate' is the new mantra of the government." He also stressed upon the need to accord due respect to workers, saying that the growth of the national economy will follow suit.
Generating employment and giving respect to workers can help tackle unemployment as well as corruption, Tomar said, adding that the dignity of labour and workers has to be restored if the nation is to progress.
Jeet Adani, Diva Shah are now married! Here's why their wedding was more than a mere celebration
IIT-BHU student gets highest package of Rs..., average package in 2025 is...
Music composer Anu Malik sells two Mumbai flats in Santacruz West for Rs..., co-owner is...
Jeet Adani and Diva Shah are now married; video of varmala ceremony goes viral, WATCH
Jeet Adani-Diva Shah wedding: Gautam Adani shares first pics of son's wedding, see here
Can Kejriwal win prestige battle? What are the key factors that dominated Delhi assembly polls 2025?
Subhash Ghai makes big investment, buys plush 4BHK apartment in Mumbai for...
Metovalex App Review 2025: Legit Or Scam Trading AI? - Real User Facts!
Deepinder Goyal's Zomato rebranded Eternal: Everyone has the same question
Thief gifts Rs 3cr house to girlfriend, everyone shocked after...
Who is Meghnad S? YouTuber and journalist who contested Delhi assembly polls 2025 from...
Does Sanya Malhotra's 'Mrs' promote a no-marriage culture among women?
BIG blow to Sundar Pichai as Google loses Rs 17501260000000 due to…
Caring for Ageing Parents? Essential tips to manage health, finances, and well-being
Meet Gautam Adani’s daughter-in-law Paridhi Adani: Know about her assets, career, family, and more
Jeet Adani-Diva Shah wedding: Inside pics from Gautam Adani's son's wedding festivity
Why has Premanand Maharaj stopped his morning yatras at 2 am?
Sonu Sood BREAKS SILENCE on arrest warrant against him in fraud case: 'It is sad that celebs...'
Akshata Murty once confronted her father and Infosys co-founder Narayana Murthy: 'My real dad is...'
Meet Alexis Wilkins, Trump's FBI chief pick Kash Patel's 'mystery girlfriend,' her profession is...
Fire breaks out at Mahakumbh Nagar camp, officials say no casualties reported so far
Who is Mohini Mohan Datta, mystery man set to get Rs 500 crore through Ratan Tata's will?
Cristiano Ronaldo makes shocking statement, breaks Portugal's hearts: 'I never thought about...'
Ludhiana court issues arrest warrant against Sonu Sood in fraud case
Happy Rose Day 2025: Significance of different coloured roses on Day 1 of Valentine's week
Salman Khan REVEALS why he avoids eating beef and pork: 'Main maanta hu meri maa...'
Shah Rukh Khan-Saif Ali Khan vs Aryan Khan-Ibrahim Khan: Who should be in KHNH2!
Why Israel's Benjamin Netanyahu gifted Donald Trump golden pager? It is a reference to...
Mob in Bangladesh destroys ousted PM Sheikh Hasina's family home
ISRO's EOS-06 satellite captures Phytoplankton concentration on global scale
IND vs ENG: Will Virat Kohli play in 2nd ODI vs England? Shubman Gill provides huge injury update
Who is Kiran Chaudhury? PCS officer caught in bribe case, just 4 years after posting
Jeet Adani-Diva Shah's wedding today: Know venue, gifts for guests and more
Meet woman, who works in Rs 163000 crore company, daughter of Hyderabad’s richest man
This is world's greenest railway station, 170 years old, home to over 7,000 plants, it's in....
As Sky Force nears Rs 150 crore, Nimrat Kaur treats househelp, her kids with movie screening
IND vs ENG: Shreyas Iyer creates history, becomes first player to achieve THIS massive milestone
Meet man, India's richest banker, who has bought Rs 202 crore property, his net worth is Rs...
'Heard there was....': Former India head coach provides major update on Virat Kohli's injury
A New Geopolitical Era: India and Israel's Role in the Evolving Middle East
David Warner’s touching moment with fans after Dubai Capitals reaches final of DP World ILT20
India’s Largest Book Stall Network: PrashantAdvait Foundation’s Mission to Revive Reading Culture
Mawra Hocane stuns in pastel mint green lehenga at her wedding to Ameer Gilani
Deepinder Goyal's Zomato changes its name, CEO shares journey of company, it is now called...
Rose Day 2025: Know the date, history, significance of each rose colour ahead of Valentine's day
'BJP-led NDA works for Santushtikaran, not Tushtikaran': PM Modi in Rajya Sabha
Who is Belle Gibson? Australian wellness guru created fake cancer story and later...