The Supreme Court of India, in a very crucial judgment has upheld the provisions of the Employees Pension (Amendment) Scheme 2014 to be legal and valid. However, so far as the present members of the fund are concerned, the apex court has read down certain provisions of the scheme.
New Delhi, Nov. 4 (PTI): The Supreme Court on Friday upheld the validity of the Employees Pension (Amendment) Scheme of 2014 but quashed the threshold limit of INR 15,000 monthly salary for joining the pension fund. The 2014 amendment had capped the maximum pensionable salary (basic pay plus dearness allowance) at INR 15,000 per month. Prior to the amendment, the maximum pensionable salary was capped at INR 6,500 a month. A bench of Chief Justice UU Lalit and Justices Aniruddha Bose and Sudhanshu Dhulia, however, read down certain provisions of the scheme. Employees who have not exercised the option to join the pension scheme must do so within six months, the bench said. It added that eligible employees who could not join the scheme by the cut-off date should be given an additional chance as there was a lack of clarity on the issue in view of judgments passed by the high courts of Kerala, Rajasthan and Delhi. The bench further held as invalid the condition in the 2014 scheme that requi
The Supreme Court on Friday upheld the validity of the Employees Pension (Amendment) Scheme of 2014 but quashed the threshold limit of Rs 15,000 monthly salary for joining the pension fund
At present, all those employees in the organised sector whose basic wage (basic pay plus dearness allowance) is up to Rs 15,000 per month at the time of joining service are mandatorily covered under EPS-95.