'EPF will be reviewed in favour of employees soon'

Written by: Super Admin
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New Delhi, Feb 26: In a view to provide better benefits for government employees, the Employee Provident Fund (EPF) is being reviewed and two committees, one headed by a Special Secretary, have been set up to attain the purpose, the government told the Lok Sabha on Thursday, Feb 26.

Labour Minister Oscar Fernandes said that there will be no amendment to the Employees' Pension Scheme 1995 in the wake of Sixth Central Pay Commission, as the two issues are not related.

The decision will be taken after the two committees submit their report.

The Minister said under the present scheme, commutation of pensionary benefits is permitted, which has led to the loss of Rs 40,000 crore.

Employees use this facility and as a result lose their pensionary benefits, he said, adding the government has already decided to stop commutation.

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