A Supreme Court has posted a petition filed by retirees and members of the Employees Pension Scheme (EPS), 1995, against the EPFO, which administers the scheme, for final arguments in May. The petitioners have claimed that a 2014 amendment and a 2017 circular exclude thousands from receiving their rightful benefits under EPS 95.
About:
Established in: 1952.
Parent Ministry: It is under the administrative control of the Union Ministry of Labor and Employment.
Mandate:
It is tasked to assist the Central Board of Trustees in implementing the following three schemes for the workforce engaged in the organized sector in India: (1) EPF Scheme 1952; (2) Pension scheme 1995 (EPS); and Insurance scheme (EDLI).
It is also the nodal agency for implementing Bilateral Social Security Agreements with other countries on a reciprocal basis.
In 2014, union government launched Universal Account Number (UAN)for Employees covered by EPFO to enable PF number portability.
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