Employees’ Pension (Amendment) Scheme, 2024: Ministry of Labour & Employment Notification dated 14.06.2024 in Table B regarding factor for computation of past service benefit under the ceased Family Pension Scheme for existing members on exit from the employment.

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 Employees’ Pension (Amendment) Scheme, 2024: Ministry of Labour & Employment Notification dated 14.06.2024 in Table B regarding factor for computation of past service benefit under the ceased Family Pension Scheme for existing members on exit from the employment.

MINISTRY OF LABOUR AND EMPLOYMENT

NOTIFICATION

New Delhi, the 14th June, 2024

G.S.R. 325(E).—In exercise of powers conferred by Section 6A read with sub-section (1) of section 7 of Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Pension Scheme, 1995, namely:-

1. Short title and commencement.— (1) This Scheme may be called the Employees’ Pension (Amendment) Scheme, 2024.

(2) This notification shall come into force from the date of its publication in the Official Gazette.

2. In the Employees’ Pension Scheme, 1995, in the ‘Table B’, after the entry “less than 34” in column (1) and the corresponding entry “13.173” in column (2), the following shall be inserted, namely:—

YEARSFACTOR
(1)(2)
“Less than 3514.2271
Less than 3615.36555
Less than 3716.59509
Less than 3817.92303
Less than 3919.35722
Less than 4020.90618
Less than 4122.57909
Less than 4224.38586”

[F. No. S-65015/01/2023-SS-II]
ALOK MISHRA, Jt. Secy.

Note: The Employees’ Pension Scheme, 1995 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide notification number G.S.R. 748(E) dated the 16th November, 1995 and was last amended vide notification number S.O. 2061 (E) dated the 3rd May, 2023.

Explanation: TABLE – B (See Paragraphs 12 and 14) (FACTOR FOR COMPUTATION OF PAST SERVICE BENEFIT UNDER THE CEASED FAMILY PENSION SCHEME FOR EXISTING MEMBERS ON EXIT FROM THE EMPLOYMENT)

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