{"id":7284,"date":"2015-09-02T10:09:00","date_gmt":"2015-09-02T10:09:00","guid":{"rendered":"http:\/\/localhost\/sccblog\/?p=7284"},"modified":"2015-10-14T12:43:30","modified_gmt":"2015-10-14T07:13:30","slug":"union-government-released-rs-2000-crore-to-employees-pension-scheme-1995","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2015\/09\/02\/union-government-released-rs-2000-crore-to-employees-pension-scheme-1995\/","title":{"rendered":"Union Government released Rs. 2000 crore to Employees\u2019 Pension Scheme, 1995"},"content":{"rendered":"<p ><span  >The Union Government has released a sum of rupees 2,000 crore to the Employees Pension Scheme (EPS), 1995 as its contribution for the year 2015-2016. The Union Minister of State for Labour &amp; Employment (Independent Charge) Shri Bandaru Dattatreya said that this contribution is in addition to rupees 250 crore contributed by the Central government as grant-in-aid in the EPS, 1995 for providing minimum pension of rupees 1000 to the pensioners of&nbsp; EPS, 1995.<o:p><\/o:p><\/span><\/p>\n<p ><span  >Since September 2014, EPS pensioners have been assured of a guaranteed minimum pension of rupees 1000 per month, therefore, it is necessary to infuse such additional amounts as grant-in-aid by the Central Government to sustain the minimum guaranteed pension.<o:p><\/o:p><\/span><\/p>\n<p ><span  >Under the provisions of EPS, 1995, the contribution of Central Government is calculated at the rate 1.16% of the monthly wages of the members contributing to the EPS, 1995. This is in addition to the funding made available by the employers covered under the Act who contribute 8.33% of the monthly wages of the members to the Scheme.<o:p><\/o:p><\/span><\/p>\n<p  align=\"right\"><span  >&#8211;<b>Ministry of Law and Justice<\/b><o:p><\/o:p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Government has released a sum of rupees 2,000 crore to the Employees Pension Scheme (EPS), 1995 as its contribution for <\/p>\n","protected":false},"author":3,"featured_media":7321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - 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