Implement SC Judgement on Employee pension Scheme: Binoy Viswam

NEW DELHI: Communist Party of India (CPI) Rajya Sabha MP Binoy Viswam has written a letter to Union Labour Minister Bhupendra Yadav, urging him to implement the Supreme Court judgement dated 4th November 2022 on Employees' Pension Scheme.

Binoy Viswam in his letter written on Thursday to Union Labour Minister Bhupendra Yadav said, "I write to you regarding the implementation of the Supreme Court judgement dated 4th November 2022 on Employees' Pension Scheme. As you are aware, the Supreme Court in the said judgement allowed employees for a window of 4 months from the date of judgement, to opt for a higher pension".

"Despite 55 days after the passing of the judgement, the EPFO is yet to issue any guidelines regarding the same," Viswam wrote in a Letter to the union Labour Minister.

Upper House MP from Kerala Binoy Viswam further said in his letter, "This is nearly half of the time permitted by the Supreme Court. This outrightly shows the callous attitude of the government towards the welfare of the workers of the country. Such an inordinate delay is unacceptable and requires to be rectified at the earliest" "I urge you to treat this letter with utmost urgency and publish the necessary guidelines in the interest of the workers" he added.

The apex court order provides that employees who were existing EPS-95 members as on September 1, 2014, can contribute up to 8.33 per cent of their actual salaries, as against 8.33 per cent of the pensionable salary capped at Rs 15,000 a month, towards pension.

It had also struck down the requirement in the 2014 amendments mandating employer contribution of 1.16 per cent of the salary exceeding Rs 15,000 per month. This will facilitate the subscribers to contribute higher to the scheme and get enhanced benefits accordingly.