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So the supreme court recently ruled in favor of thousands of pensioners who were fighting for an increased pension. The case for higher pension was going on for years in Kerela High court, and now the supreme court has finally set aside the GSR 609(E) of the EPFO that bars pensioners to get a higher pension. Know all about the supreme court decision on EPF pension increase and whether you’re eligible or not.
As per the rules, the maximum pension a person could get after their retirement is 7500 per month. This will soon change as the latest ruling suggests that the new maximum pension would be 50% of the actual wages of the employees at the time of retirement. Pensioners will also be able to get the pension based on their last year’s salary and not on the basis of the average salary of the last 60 months.
If you are clueless about this decision and the higher pension case, you must watch the exclusive interview with Mr. Praveen Kohli who was the first man to get a higher pension, up from 2372 to a whopping 30592/’ per month. He has become a pension activist, fighting for the rights of lakhs of pensioners of our country, and his actions do leave major impacts in the EPFO dept.
Pension calculation: https://www.youtube.com/watch?v=Hn2gh9j9IKM&t=85s
How to avoid loss in PPF account?: https://www.youtube.com/watch?v=3e4zvc2uPQA
EPS (Employee Pension Scheme, 1995) was earlier had a clause that allowed employees to contribute at their actual wage, but as soon as the EPFO realized that it would mean giving high amounts in pension to all Indians, they cleverly removed this clause. They did bring it again, only with a deadline that they failed to proliferate across India, as a result, no one knew they had a deadline to fulfill. The whole of India automatically was punished with lower pensions without their fault. Now the supreme court has finally declared that an employee if they wish to, can contribute their monthly EPF on higher wages and avail higher pension at the time of retirement.
What is PPF (Public Provident Fund)?: https://www.youtube.com/watch?v=H_8ehrL4J24
If you are looking for a side business with no investment, watch: https://www.youtube.com/watch?v=51tigfjCur0
All about (FD) Fixed Deposits: https://www.youtube.com/watch?v=raW2FIPnqIc
Disadvantages of credit card: http://www.youtube.com/watch?v=WZ7u_-pSEZc
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