<p>New Delhi: NK Premachandran (RSP) on Monday demanded that the government should immediately implement an enhanced pension scheme as approved by the Supreme Court.</p>.<p>On November 4, 2022, the Supreme Court ruled in favour of existing employees being able to opt for a higher pension under the Employees' Pension Scheme (EPS), 1995.</p>.<p>Raising the issue during Zero Hour, Premachandran said employees are entitled to a higher pension under the EPS 1995.</p>.<p>Out of 17,48,775 applications for higher pensions as of August 7, 2024, EPFO has given higher pensions to only 8,401 subscribers.</p>.Plans afoot to bring EPFO service at par with banking, says top official.<p>He also demanded that a higher pension should be given at the earliest.</p>.<p>The Employee Pension Scheme 1995 (EPS 95), which the Employees' Provident Fund Organisation introduced on November 19, 1995, is a social security initiative intended to cater to the retirement needs of employees in the organised sector.</p>.<p>Administered by the EPFO, this scheme guarantees pension benefits to eligible employees who reach the age of 58.</p>.<p>He also raised the issue with regard to the calculation of pensions and urged the government to reconsider.</p>.<p>Arun Govil (BJP) raised the issue of social security and standard contracts for technicians and support staff in the film and television industry.</p>.<p>Technicians and support actors are exploited by the producers and even contracts are in favour of producers and directors, he added.</p>.<p>Labour laws should be applicable to such category of employees and they should be paid overtime, Provident Fund and health benefits.</p>.<p>Standard contracts should be prepared and made compulsory to be signed, he said. </p>
<p>New Delhi: NK Premachandran (RSP) on Monday demanded that the government should immediately implement an enhanced pension scheme as approved by the Supreme Court.</p>.<p>On November 4, 2022, the Supreme Court ruled in favour of existing employees being able to opt for a higher pension under the Employees' Pension Scheme (EPS), 1995.</p>.<p>Raising the issue during Zero Hour, Premachandran said employees are entitled to a higher pension under the EPS 1995.</p>.<p>Out of 17,48,775 applications for higher pensions as of August 7, 2024, EPFO has given higher pensions to only 8,401 subscribers.</p>.Plans afoot to bring EPFO service at par with banking, says top official.<p>He also demanded that a higher pension should be given at the earliest.</p>.<p>The Employee Pension Scheme 1995 (EPS 95), which the Employees' Provident Fund Organisation introduced on November 19, 1995, is a social security initiative intended to cater to the retirement needs of employees in the organised sector.</p>.<p>Administered by the EPFO, this scheme guarantees pension benefits to eligible employees who reach the age of 58.</p>.<p>He also raised the issue with regard to the calculation of pensions and urged the government to reconsider.</p>.<p>Arun Govil (BJP) raised the issue of social security and standard contracts for technicians and support staff in the film and television industry.</p>.<p>Technicians and support actors are exploited by the producers and even contracts are in favour of producers and directors, he added.</p>.<p>Labour laws should be applicable to such category of employees and they should be paid overtime, Provident Fund and health benefits.</p>.<p>Standard contracts should be prepared and made compulsory to be signed, he said. </p>