MINISTER OF LABOUR (DR. SATYANARAYAN JATIYA)
(a) to (d) : A statement is laid on the Table of the House.
STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (d) OF THE LOK
SABHA STARRED QUESTION NO.182 FOR 8.3.2000 REGARDING EMPLOYEES`
PROVIDENT FUND
(a) As on 31.3.1999, there were 2.31. crore employees covered
under the Employees` Provident Funds & Miscellaneous Provisions
Act,1952. The requisite information about the covered employees,
Statewise, is given in Annexure.
(b) No Scheme by the name of Employees` Provident Fund Family
Welfare Scheme was ever introduced. With effect from 1.3.1971, a
pension scheme under the name of the Family Pension Scheme had
been introduced. Employees who were members of the
Employees`Provident Fund Scheme on 28 th February,1971 had the
option to join the Family Pension Scheme. While some employees
opted for that Scheme, there were many who did not opt for the
same. Such of the employees who did not opt for the Scheme but
were in service on or after 16.11.1995, when the Employees`
Pension Scheme, 1995 was introduced, have been given the option to
join the Scheme. Others, who did not opt for the Family Pension
Scheme,1971 and had ceased to be in employment before 16.11.1995,
are not eligible to join the Scheme.
(c) & (d) The minimum and maximum amount of pension have been
fixed on the basis of actuarial calculations and keeping in view
the affordability and financial viability of the Pension Fund.
Under the Scheme, there is a provision for evaluation of pension
fund and review of pensionary benefits on annual basis. It is not
considered actuarially feasible to enhance the minimum pension to
Rs.1500/- per month.