The document summarizes the provisions around obtaining full pension benefits from the Employees' Pension Scheme 1995. Key points:
1. The scheme originally limited maximum pensionable salary but later allowed option for higher contributions on joint request.
2. Recent court rulings have overturned amendments capping contributions, allowing joint requests to be based on actual salary rather than caps.
3. A joint request form is provided for employees and employers to opt into higher contributions from the scheme's inception in 1995.
Useful for Law students, MBA- HR students, CS Students, Employees , Employer.
I have also mentioned a list of forms generally used during gratuity.
Every body should be aware of do's and don't. Knowledge of your rights makes you powerful.
Application of the Act
When gratuity is payable
Amount of gratuity payable
Forfeiture of gratuity
Obligations and rights of the employer
Compliance under the Act
reference: http://blog.simplycareer.net/2013/06/gratuityact.html
I have also refereed other sites and text books.
Employees' State Insurance Corporation is a self-financing social security and health insurance scheme for Indian workers. This fund is managed by the Employees' State Insurance Corporation (ESIC) according to rules and regulations stipulated there in the ESI Act 1948. ESIC is an autonomous corporation by a statutory creation under Ministry of Labour and Employment, Government of India.
For more details, please visit us at: https://www.youtube.com/@AanandLawReporter1976
This video deals with an important judgment titled "THE EMPLOYEES PROVIDENT FUND ORGANISATION & ANR. ETC. vs. SUNIL KUMAR B. & ORS. ETC.” pronounced on 4th Nov 2022 and in this judgment, the Supreme Court has held that the provisions contained in the Employees' Pension (Amendment) Scheme 2014 are legal and valid (EPF Pension Case (2022)). To know more about it, please watch the video fully...
Labour Law
THE EMPLOYEES PROVIDENT FUND ORGANISATION & ANR. ETC. vs. SUNIL KUMAR B. & ORS. ETC.
https://main.sci.gov.in/supremecourt/2019/9610/9610_2019_13_1501_39472_Judgement_04-Nov-2022.pdf
The video content is created by Michael Anand. I (BA., BL) who is the owner of this YouTube Channel titled "Aanand Law Reporter". He has 5 years' experience in Content Management at MLJ (Madras Law Journal) and LLJ (Labour Law Journal) which belong to Lexis Nexis and 2 years' experience at Thomson Reuters...
Thanks for watching the video. I request you to like, share, comment on it, and don't forget to subscribe to our channel...
Useful for Law students, MBA- HR students, CS Students, Employees , Employer.
I have also mentioned a list of forms generally used during gratuity.
Every body should be aware of do's and don't. Knowledge of your rights makes you powerful.
Application of the Act
When gratuity is payable
Amount of gratuity payable
Forfeiture of gratuity
Obligations and rights of the employer
Compliance under the Act
reference: http://blog.simplycareer.net/2013/06/gratuityact.html
I have also refereed other sites and text books.
Employees' State Insurance Corporation is a self-financing social security and health insurance scheme for Indian workers. This fund is managed by the Employees' State Insurance Corporation (ESIC) according to rules and regulations stipulated there in the ESI Act 1948. ESIC is an autonomous corporation by a statutory creation under Ministry of Labour and Employment, Government of India.
For more details, please visit us at: https://www.youtube.com/@AanandLawReporter1976
This video deals with an important judgment titled "THE EMPLOYEES PROVIDENT FUND ORGANISATION & ANR. ETC. vs. SUNIL KUMAR B. & ORS. ETC.” pronounced on 4th Nov 2022 and in this judgment, the Supreme Court has held that the provisions contained in the Employees' Pension (Amendment) Scheme 2014 are legal and valid (EPF Pension Case (2022)). To know more about it, please watch the video fully...
Labour Law
THE EMPLOYEES PROVIDENT FUND ORGANISATION & ANR. ETC. vs. SUNIL KUMAR B. & ORS. ETC.
https://main.sci.gov.in/supremecourt/2019/9610/9610_2019_13_1501_39472_Judgement_04-Nov-2022.pdf
The video content is created by Michael Anand. I (BA., BL) who is the owner of this YouTube Channel titled "Aanand Law Reporter". He has 5 years' experience in Content Management at MLJ (Madras Law Journal) and LLJ (Labour Law Journal) which belong to Lexis Nexis and 2 years' experience at Thomson Reuters...
Thanks for watching the video. I request you to like, share, comment on it, and don't forget to subscribe to our channel...
The Payment of Bonus act, 1965. this PPT has inclusion recent amendments and is done from the view point of students. If anything has been missed out, do let us know through comments.
ThankYou
Implementation of “the payment of bonus (amendment) act, 2015”IJARIIT
As per the payment of Bonus at 1965, 1st five years, Bonus is paid based on profit earned by the company during
the financial year. Post 5 year i.e financial years of every organization having more than 10 employees required to pay a
minimum bonus of 8.33% was assured irrespective of profit earned or not. If the profitability of the organization is
substantially high & more than allocable surpluses in that case orgnisation have to pay maximum bonus is fixed at 20% and
the balance is carried forward as “set-on” to cater the emergency for next years. As per the Bonus act amendment 2015, the
bonus increase was declared retrospectively. Once the bonus is paid based on profit, after negotiation with employee’s
representative, making it retrospective will make the additional burden on the employer. Therefore, the same is not fair and
stay on retrospective effect is granted by Karnataka, Madras and few other High Courts. In addition, the bonus calculation
is linked to Minimum wage. Since the minimum wage differs from state-to-state; within the state zone-to-zone and industryto-
industry, bonus payment based on minimum wage will not be uniform within the state, region, and industry. Therefore,
linking of minimum wage act with bonus act will lead to disputes in the industry.
Budget 2017 - Clause by clause analysis of amendments to direct tax laws (Par...D Murali ☆
Budget 2017 - Clause by clause analysis of amendments to direct tax laws (Part 4) - V. K. Subramani - Article published in Business Advisor, dated March 25, 2017 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
The Finance Minister, Mr. Arun Jaitely on February 29, 2016 presented his 3rd Union Budget in the Parliament. Various changes have been proposed in the income-tax provisions which would impact the taxable income of an individual.
This presentation could help government employees to discover the existing law on salary standardization; the tranches every year, the salary grade increase, and the likes.
IMPACT OF CERC'S SHARING OF TRANSMISSION CHARGES AND LOSSES REGULATIONS Amitava Nag
WBSEDCL may have to bear approximately Rs. 6.48 Cr. + Rs. 1.4 Cr. = Rs. 7.88 Cr. extra charge per month when the enacted sharing regulations 2020 of CERC will be implemented. Since this new regulations have violated Article 14 and Article 303(1) of the Constitution of India, WBSEDCL therefore could file a writ petition at Calcutta High Court as per Article 226 of the Constitution of India for a stay of the notified regulations and justified modification of that statute to stop cross subsidy among States and to reinstate “beneficiary-pays” principle.
Comments on CERC's sharing of inter-State transmission charges & losses regul...Amitava Nag
Envisage 22% of the daily revenue requirement for a bus is shared among the passengers on the basis of distance traveled and rest is allocated uniformly without considering distance traveled. Application of national postage stamp method for sharing of transmission charges and losses bears similar logic. These regulations can be challenged in High Court under Article 226 of the Constitution of India.
Derivatives Contracts in Indian Electricity MarketAmitava Nag
Supreme Court is overseeing the issue of electricity futures jurisdiction between SEBI and CERC. SEBI is expected to oversee the functioning of all financially traded electricity forwards while CERC would regulate physically settled forward where electricity is delivered on future date at the contracted price.
Once future trading is started, power exchanges would be in a position to offer derivative instruments to participants. This could be electricity futures with a clear delivery based schedule (delivery at a price on future date) and other derivative instruments such as call and put options. This will help both generators and consumers to mitigate risks by hedging their positions through derivative instruments.
Expert group constituted by CERC proposes draft IEGC 2020Amitava Nag
The draft IEGC 2020 proposes further measures to strengthen grid security and resilience and renewable integration. The planning code has been thoroughly overhauled including generation resource planning (flexibility, ramping and minimum turndown level).
Comments on draft cerc sharing of transmission charges and losses regulations...Amitava Nag
CERC's draft inter-State Transmission Charges and Losses Regulations proposes socialization of expenditure of national interest with creation of cross subsidy against present Tariff Policy. Proposal of sharing of YTC of HVDC elements by postage stamp method is truly illogical. It is understood from Para 13 of the Jha Committee Report that merely 22% of the total YTC is proposed to be shared by hybrid method which measures sensitivity of distance, direction and quantum of power flow. Rest of the YTC will be shared by postage stamp method allowing cross subsidy ignoring the fact that postage stamp method is suitable for small area only.
Tariff Based Competitive Bidding (TBCB) for Intra-State Transmission ProjectsAmitava Nag
As per Para 5.3 of Tariff Policy 2016, intra-state transmission projects shall be developed by the State Governments through competitive bidding process for projects costing above a threshold limit which shall be decided by the State Commissions. State has been given option either to use VGF based MTA document of Planning Commission or the Standard Bidding Document of Ministry of Power for procurement of intra-state transmission services. For the VGF based bidding, the unitary charges will require to be approved by the State Commissions prior to bidding. The above said guidelines are for procurement of transmission services to select transmission service provider for a new transmission line. A transmission charges for providing transmission service and O&M required for the various transmission elements shall form the basis for bidding. Under the MTA, it has been decided that the prospective bidders would be awarded projects on the basis of lowest grant sought or highest premium offered.
বিদ্যুত বিলের নিয়ম-কানুন ও বিল কমানোর কিছু উপায়Amitava Nag
ভারতের বিদ্যুত আইন 2003 অনুসারে তৈরী পশ্চিম বাংলার বাড়ির মিটার, বিল ইত্যাদি বিষয়ে আইনের নাম হল ওয়েস্ট বেঙ্গল ইলেকট্রিসিটি রেগুলেটরি কমিশন (ইলেকট্রিসিটি সাপ্লাই কোড) রেগুলেশনস, 2013 তারই কিছু কিছু নিয়ম সাধারণ মানুষের বোঝবার সুবিধের জন্যে সহজ প্রচলিত বাংলা ও ইংরিজী ভাসায় বাংলা হরফে লিখেছেন শ্রী অমিতাভ নাগ | লেখক পশ্চিম বাঙলার সরকারী ট্রান্সমিশন কোম্পানিতে দশ বছর যাবত বিদ্যুত আইন নিয়ে কাজ করছেন |
Power Grid's Inter-State transmission charges in IndiaAmitava Nag
CERC on June 16, 2010 notified the Regulations of sharing inter-state transmission charges as per Electricity Act 2003. The method described in the Regulations is known as point of connection (PoC) transmission charges which is nothing but sharing of transmission charges as per projected usage.
From centralised long-term planning to market-based access: Proposed change i...Amitava Nag
The present transmission planning process in India does not incorporate economic dispatch principle. Transmission Planning is proposed to be done on the basis of projected load of the States and anticipated generation scenario based on economic principles of merit order operation.
Tariff policy of India: Salient Points Amitava Nag
Revised Tariff Policy notified by MoP on 28.01.2016.State Government can notify a policy to encourage investment in the State by allowing setting up of generating plants, including from renewable energy sources out of which a maximum of 35% of the installed capacity can be procured by the Distribution Licensees of that State for which the tariff may be determined under Section 62 of the Electricity Act, 2003.
Scope of solar generation in West Bengal (an Indian State)Amitava Nag
The existing scope of solar generation in West Bengal is briefed in this paper whereas West Bengal government is working to issue a fresh policy very soon.
Philosophy of sharing of inter-State transmission charges by PoC methodAmitava Nag
Sharing of transmission charges is done in a approximate way on the basis of projected use of transmission system. In India one method called Point of Connection method has been adopted. The philosophy of PoC method is described in this presentation.
Philosophy of sharing of inter-State transmission charges by PoC method
How you can get a higher pension from EPFO beyond ceiling limit?
1. Scope of getting full pension from Employees’ Pension
Scheme 1995 by serving a ‘Joint Request’ to EPFO
1. Section 6A of The Employees’ Provident Funds Act mandates that
Central Government may frame Employees’ Pension Scheme and
establish a Pension Fund from the employer’s contribution not
exceeding eight and one-third per cent of the basic wages, dearness
allowance and retaining allowance of the concerned employees as may
be specified in the Pension Scheme.
2. Though there is no direction in the Act to fix a ceiling for maximum
pensionable salary, yet under Para 11(3) of the Pension Scheme
maximum pensionable salary was limited to Rs.5000/- w.e.f.
16.11.1995.
3. The ceiling was subsequently enhanced to Rs.6500/- per month w.e.f.
08.10.2001.
4. Thereafter a proviso was added to Para 11(3) of the Pension Scheme
w.e.f. 16.03.1996 permitting an option for contribution on salary
exceeding ceiling. The proviso is as given under:
“Provided that if at the option of the employer and employee,
contribution paid on salary exceeding rupees six thousand and five
hundred/Rs. 6,500 per month from the date of commencement of this
Scheme or from the date salary exceeds rupees six thousand and five
hundred/Rs.6,500 whichever is later, and 8.33 per cent share of the
employers thereof is remitted into the Pension Fund, pensionable
salary shall be based on such higher salary.”
5. Para 26(6) was added to Employees’ Provident Fund Scheme
empowering an officer not below the rank of an Assistant Provident
Fund Commissioner to allow such higher contribution on joint request.
6. It is specified in Para 26(6) of Employees’ Provident Fund Scheme that
“Notwithstanding anything contained in this paragraph, an officer not
below the rank of an Assistant Provident Fund Commissioner may, on
the joint request in writing of any employee of a factory or other
establishment to which this Scheme applies and his employer, enroll
2. such employee as a member or allow him to contribute more than
fifteen thousand rupees of his pay per month if he is already a
member of the Fund and thereupon such employee shall be entitled to
the benefits and shall be subject to the conditions of the Fund,
provided that the employer gives an undertaking in writing that he
shall pay the administrative charges payable and shall comply with all
statutory provisions in respect of such employee.”
7. Para 10 of the Order of the Supreme Court of India dated 04.10.2016
on SLP(C) Nos. 33032-33033 of 2015, mandates that “if both the
employer and employee opt for deposit against the actual salary and
not the ceiling amount, exercise of option under paragraph 26 of the
Provident Scheme is inevitable.”
8. As per Para 11 of the said SC Verdict, all that the Provident
Commissioner is required to do is an “adjustment of accounts” which
in turn benefit employee. The Provident Fund Commissioner can seek
return of all amounts that employee may have taken or withdrawn
from Provident Fund Account.
9. Ignoring the verdict of the Supreme Court of India dated 04.10.2016
on SLP(C) Nos. 33032-33033 of 2015, the Central Government has
amended Para 11(3) and Para 11(4) of the Pension Scheme by G.S.R.
609(E), dated 22.08.2014 (w.e.f. 01.09.2014) as given below:
4. In the principal Scheme, in paragraph 11,
…
(c ) in sub-paragraph (3),-
(i) for the words, letters and figures “rupees six thousand and
five hundred/Rs, 6500″, the words “fifteen thousand rupees”
shall be substituted;
(ii) the proviso shall be omitted.
(d) after sub-paragraph (3), the following sub-paragraph shall
be inserted, namely:-
“(4) The existing members as on the 1st day of September,
2014, who at the option of the employer and employee, had
been contributing on salary exceeding six thousand and five
hundred rupees per month, may on a fresh option to be
exercised jointly by the employer and employee continue to
3. contribute on salary exceeding fifteen thousand rupees per
month:
Provided that the aforesaid members have to contribute at the
rate of 1.16 per cent on salary exceeding fifteen thousand
rupees as an additional contribution from and out of the
contributions payable by the employees for each month under
the provisions of the Act or the rules made thereunder:
Provided further that the fresh option shall be exercised by the
member within a period of six months from the 1st day of
September, 2014:
Provided also that the period specified in the second proviso
may, on sufficient cause being shown by the member, be
extended by the Regional Provident Fund Commissioner for a
further period not exceeding six months:
Provided also that if no option is exercised by the member
within such period (including the extended period), it shall be
deemed that the member has not opted for contribution over
wage ceiling and the contributions to the Pension Fund made
over the wage ceiling in respect of the member shall be diverted
to the Provident Fund account of the member along with
interest as declared under the Employees‟ Provident Fund
Scheme from time to time,
10. G.S.R. 609(E), dated 22.08.2014 (w.e.f. 01.09.2014) also
specifies in Para 11(3) of the Pension Scheme that maximum
pensionable salary shall be limited to fifteen thousand rupees per
month and Para 26(6) of Provident Funds Scheme has been amended
accordingly.
11. G.S.R. 609(E), dated 22.08.2014 was challenged through writ at
Kerala High Court.
12. Kerala High Court in its verdict dated 12.10.2018 on WP(C).No.13120 of
2015 set aside the Employee’s Pension (Amendment) Scheme, 2014
[brought into force by notification No. GSR. 609(E) dated 22.8.2014] which
had curtailed the facility of enhanced contribution on EPS. The verdict clearly
said that:
(a)The stipulation introduced by the amendment that the employees should
make an additional contribution of 1.16% does not find support in any
statutory provision [Para- 11 of the verdict].
4. (b) Since insistence on a cut -off date has already been found to be bad and
set aside by this Court, there is no justification for introducing the same
again [Para- 13 of the verdict].
The writ petitions are all allowed as follows [last page of the verdict]:
i) The Employee's Pension (Amendment) Scheme, 2014 brought into
force by Notification No. GSR. 609(E) dated 22.8.2014 evidenced by
Ext.P8 in W.P.(C) No. 13120 of 2015 is set aside; ii) All consequential
orders and proceedings issued by the Provident Fund
authorities/respondents on the basis of the impugned amendments shall
also stand set aside.
ii) The various proceedings issued by the Employees Provident Fund
Organization declining to grant opportunities to the petitioners to exercise
a joint option along with other employees to remit contributions to the
Employees Pension Scheme on the basis of the actual salaries drawn by
them are set aside.
iii) The employees shall be entitled to exercise the option stipulated by
paragraph 26 of the EPF Scheme without being restricted in doing so by
the insistence on a date.
iv) There will be no order as to costs.
13.Again, in a major relief to many employees, the Supreme Court has
dismissed on 01.04.2019 the Special Leave Petition filed by EPFO [SLP (Civil)
D No. 9610/2019] against the Kerala High Court Judgment dated 12.10.2018
setting aside Employee's Pension (Amendment) Scheme, 2014 that capped
maximum pensionable salary to Rs.15, 000 per month.
14.Therefore, it appears that, on the basis of Kerala High Court verdict,
employee and employer have the opportunity to submit ‘Joint Request’ for
higher contribution on EPS which is mere an adjustment of accounts as
money will go from EPF to EPS and employer does not have any extra burden
on such higher contribution. Monthly pension will be as given below:
Monthly pension after 58 yr age = {Average of Basic pay +
Grade pay + D.A. of last 12 months} x {(Month and Year of
retirement) – (November 1995) + 2) / 70
N.B. (a) 6 months and more=1 year, (b) 2 years added as per clause 10(2) for
retirement at the age of 58 and period of contribution in EPS from Nov’95 is equal to
20years or more. (c) Amount of pension shall be increased @ 4% for every
completed year if the age of drawing pension is deferred upto 60 years.
15. It is learnt in May’2019 that EPFO is planning to file a review petition before
the Supreme Court for disallowance of full pension from EPS.
5. Joint request
To
The Regional Provident Fund Commissioner
Employees’ Provident Fund Organization,
Sub: Joint Request of employee/retired employee and his employer to
contribute to EPS more than ceiling limit of his pay per month
Sir,
In terms of Para 26(6) of Employees’ Provident Fund Scheme 1952,
I,………………………………………, do hereby exercising Joint Request of employee/retired
employee and employer to contribute on actual salary exceeding ceiling limit (Rs.5000/-,
Rs. 6500/- or Rs. 15000/- as applicable) from the date of commencement of Employees’
Pension Scheme 1995 i.e. 16.11.1995.
Yours faithfully,
Date:
Signature:
Name:
UAN:
Verification
Certified that Mr./Mrs./Ms. ……………………………………………….Designation……………………………..
Employee No. …………………………………. UAN ………………………………………… is /was a member of
EPS who has/had been contributing at 8.33% of ceiling salary [8.33% of Rs. 5000/-
from 16.11.1995, 8.33% of Rs.6500/- from 08.10.2001 and 8.33% of Rs. 15000/- from
01.09.2014] and is exercising Joint Request of employee/retired employee and
employer to contribute on actual salary (Basic Pay+ Grade Pay+ D.A.) exceeding ceiling
limit (Rs.5000/-, Rs. 6500/- or Rs. 15000/- as applicable) from the date of
commencement of Employees’ Pension Scheme 1995 i.e. 16.11.1995.
Date:
Signature of the employer