New Delhi: The Central Board of Trustees (CBT) of the Employees Provident Fund organisation has decided to renew the minimum pension as Rs. 1000/. They have also decided to increase the salary limitations that enable employees to avail EPF benefits from Rs. 6500 to Rs. 15000.
The decision of the labor ministry to increase the minimum EPF pension as well as the salary limitations for the EPF benefits were recognized by the finance ministry.
The new decision of the CBT to increase the minimum pension will be benefited to 28 lakh retired individuals whereas the increase in salary limitations will be benefiting 50 lakh employees. The renewal of the minimum pension will be a boon to 5 lakh widows of retired employees.