The Supreme Court delivered its essential judgment within the EPF Pension case which impacts a number of staff throughout the nation.

Here are the highlights of the judgment delivered by a bench comprising Chief Justice of India, Justice Aniruddha Bose and Justice Sudhanshu Dhulia :

The provisions of the Employees’ Pension (Amendment) Scheme, 2014 are authorized and legitimate. Certain provisions have been learn down for present members.

Deadline to hitch the scheme has been prolonged for a interval of 4 months for all staff who didn’t train choice however are entitled to take action. Rest of the necessities as per amended provisions shall be complied with.

The Employees who had retired earlier than 1st September 2014 with out exercising the choice underneath the pre-amendment scheme wouldn’t be entitled to the good thing about this judgement as they’ve already exited the scheme.

The staff who retired earlier than September 1, 2014 and who exercised the choice shall be coated by 11(3) of Pension scheme because it stood previous to the 2014 Amendment.

The requirement of members to contribute at 1.16% if the wage exceeds Rs 15,000 as a further contribution underneath the Amended scheme has been held to be invalid. But this a part of the judgment is suspended for six months to allow authorities to make changes within the scheme in order that further contribution might be generated from different reliable sources. For the above stated interval of 6 months or until such time any Amendment is made, whichever is earlier, worker contribution shall be a cease hole measure.The stated sum shall be adjustable on the premise of the alteration to the scheme that could be made.

No flaw present in altering the premise of computation of pensionable wage.

The judgment of the division bench in RC Gupta vs Regional Provident Fund Commissioner (2016) accepted as regards interpretation to paragraph 11(3) of the pre-amended scheme. Fund authorities shall implement the course in RC Gupta judgment inside 8 weeks.

All appeals of the EPFO and the Union Government in opposition to the High Courts judgments are allowed within the above phrases and the judgements that are impugned are modified accordingly.

For detailed report, check with this story : Supreme Court Upholds Employees Pension (Amendment) Scheme 2014; Extends Cut-Off Date For Present Members; Holds Condition For Additional Contribution As Invalid