Employees' Provident Fund Organisation (EPFO). The government is currently proposing to increase the minimum pension of employees by 7.5 times.

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 Sanchita chatterjee: There is significant news for subscribers of the Employees' Provident Fund Organization (EPFO). The government is currently giving serious consideration to a proposal to increase the minimum pension for employees 7.5-fold—raising it from the current ₹1,000 to ₹7,500. 

Following a prolonged agitation, a strong demand has emerged to raise the minimum monthly pension under the EPS-95 scheme from ₹1,000 to ₹7,500, and the government is actively working on this matter.

A parliamentary committee has also recommended this pension hike to ensure that retired employees can lead a life of dignity amidst the current inflationary market conditions.

Beyond merely increasing the pension amount, demands have also been raised to link it with Dearness Allowance (DA) and to provide free medical facilities for pensioners and their spouses.

In addition to the pension hike, the EPFO ​​is planning to introduce a facility allowing subscribers to withdraw funds directly via ATMs for their convenience.

For the 2024-25 financial year, a proposal has been put forward to offer an interest rate of 8.25 percent on Provident Fund deposits; this proposal is currently awaiting approval from the Ministry of Finance.

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