EPS 1995 Pension: Over 65 lakh pensioners under the Employees' Pension Scheme (EPS) 1995 will get the pension for March by the end of this month itself
EPS 1995 Pension: Over 65 lakh pensioners under the Employees’ Pension Scheme (EPS) 1995 will get the pension for March by the end of this month itself, according to a statement dated 23-03-2020 of the Ministry of Labour and Employment. As per the statement, the Central Provident Fund Commissioner has directed all field offices of the Employee’s Provident Fund Organisation (EPFO) to forward the pensioners’ details and pension amount statements to banks in advance so that the pension can be credited to the accounts of pensioners by the end of this month. This decision was taken in the wake of coronavirus pandemic because of which the entire country has been locked down from today for 21 days.
“In order to ensure that no inconvenience is caused to the pensioners on account of the prevalent situation, Central Provident Fund Commissioner has directed the field offices of EPFO to generate and reconcile pensioners’ details and pension amount statements for the current month by 25th March 2020. He further directed that the same should be forwarded to the banks in advance so that the monthly pension is credited into the account of the pensioners in time i.e. during the month of March itself,” the statement said.
According to the ministry, the EPFO provides a monthly pension to over 65 lakh pensioners under the Employees Pension Scheme (EPS) 1995.
As per the decision, EPS 95 pensioners need not worry about the 21-day lockdown as they will get their monthly pension deposited in their accounts in time by the end of this month.
The Union Ministry of Labour and Employment has taken several initiatives to protect the interests of workers and pensioners amid Coronavirus outbreak, which has so far infected over 550 people across the country. On Tuesday, the ministry directed all states and Union Territories to use the Cess fund for the welfare of construction workers who have lost livelihood because of the lockdown.
An advisory of the ministry under Section 60 of the Building and Other Construction Workers Act, 1996 directed all state governments and UTs to “transfer funds in the account of construction workers from the Cess fund collected by the Labour Welfare Boards.” The advisory further said that nearly Rs 52,000 crore is available as cess fund and about 3.5 crore construction workers are registered with these Construction welfare Boards.