Friday, January 6, 2017
The Union Ministry of Labour in a notification issued on January 4 made it clear that Aadhaar number is mandatory for 2.5 crore members of the Employees’ Pension Scheme 1995.
It said that those without an Aadhaar member have to make an application to get enrolled by January 31, 2017. The subsidy, equivalent to 1.16 per cent of the employees’ salary up to Rs.6,500 paid by the Centre towards the EPS will no longer be credited till the Aadhaar number is given to the concerned authorities.
The documents will have to be submitted to the EPFO along with either of the following viz., voter ID card, passport, PAN card, driving licence or a certificate of identity approved by a Gazetted officer.
At present, the minimum pension under EPS is Rs.1,000 per month an employee can receive the pension only after minimum 10 years of service The Centre contributes 1.16 per cent of the employee’s salary towards the scheme along with employer contribution of 8.33 per cent of the salary.