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Core Purpose

Notification of the Employees' Pension (Second Amendment) Scheme, 2024, made under section 6A read with section 7(1) of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, substituting Table-D of the Employees' Pension Scheme, 1995 governing return of contribution on exit from employment.

Detailed Summary

Notification G.S.R. 326(E) of the Ministry of Labour and Employment, dated 14 June 2024 (F. No. S-65015/01/2024-SS-II, signed by Alok Mishra, Joint Secretary), made under section 6A read with sub-section (1) of section 7 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), enacts the Employees' Pension (Second Amendment) Scheme, 2024, effective from the date of publication in the Official Gazette. The amendment substitutes Table-D (see paragraph 14) of the Employees' Pension Scheme, 1995, which sets out the proportion of wages returnable as contribution on exit from employment for each completed month of service, ranging from 0.08 of wages at 1 month of service up to 9.33 of wages from 108 months (9 years) onward, capped at that ratio through 113 months. The Employees' Pension Scheme, 1995 was originally published vide notification G.S.R. 748(E) dated 16 November 1995 and was last amended vide notification S.O. 2061(E) dated 3 May 2023.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-14062024-254714 EXTRAORDINARY PART II—Section 3—Sub-section (i) PUBLISHED BY AUTHORITY No. 303] NEW DELHI, FRIDAY, JUNE 14, 2024/JYAISHTHA 24, 1946 [F. No. S-65015/01/2024-SS-II] MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 14th June, 2024 G.S.R. 326(E).—In exercise of the powers conferred by section 6A read with sub-section (1) of section 7 of the 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. (1) This Scheme may be called the Employees' Pension (Second Amendment) Scheme, 2024. (2) It shall come into force from the date of its publication in the Official Gazette. 2. In the Employees' Pension Scheme, 1995, for Table-D, the following Table shall be substituted, namely:- "TABLE D (See Paragraph 14) Return of contribution on exit from the employment +-------------------+------------------------------+ | Months of Service | Proportion of wages at exit | +===================+==============================+ | 1 | 0.08 | | 2 | 0.17 | | 3 | 0.25 | | 4 | 0.33 | | 5 | 0.42 | | 6 | 0.51 | | 7 | 0.60 | | 8 | 0.68 | | 9 | 0.77 | | 10 | 0.85 | | 11 | 0.94 | | 12 | 1.02 | | 13 | 1.10 | | 14 | 1.18 | | 15 | 1.26 | | 16 | 1.34 | | 17 | 1.42 | | 18 | 1.51 | | 19 | 1.59 | | 20 | 1.67 | | 21 | 1.75 | | 22 | 1.83 | | 23 | 1.91 | | 24 | 1.99 | | 25 | 2.07 | | 26 | 2.16 | | 27 | 2.24 | | 28 | 2.32 | | 29 | 2.40 | | 30 | 2.49 | | 31 | 2.57 | | 32 | 2.65 | | 33 | 2.73 | | 34 | 2.82 | | 35 | 2.90 | | 36 | 2.98 | | 37 | 3.06 | | 38 | 3.15 | | 39 | 3.23 | | 40 | 3.32 | | 41 | 3.40 | | 42 | 3.49 | | 43 | 3.57 | | 44 | 3.65 | | 45 | 3.74 | | 46 | 3.82 | | 47 | 3.91 | | 48 | 3.99 | | 49 | 4.08 | | 50 | 4.16 | | 51 | 4.25 | | 52 | 4.33 | | 53 | 4.42 | | 54 | 4.51 | | 55 | 4.59 | | 56 | 4.68 | | 57 | 4.76 | | 58 | 4.85 | | 59 | 4.93 | | 60 | 5.02 | | 61 | 5.11 | | 62 | 5.20 | | 63 | 5.28 | | 64 | 5.37 | | 65 | 5.46 | | 66 | 5.55 | | 67 | 5.63 | | 68 | 5.72 | | 69 | 5.81 | | 70 | 5.90 | | 71 | 5.98 | | 72 | 6.07 | | 73 | 6.16 | | 74 | 6.25 | | 75 | 6.34 | | 76 | 6.42 | | 77 | 6.51 | | 78 | 6.60 | | 79 | 6.69 | | 80 | 6.78 | | 81 | 6.87 | | 82 | 6.95 | | 83 | 7.04 | | 84 | 7.13 | | 85 | 7.22 | | 86 | 7.31 | | 87 | 7.40 | | 88 | 7.49 | | 89 | 7.58 | | 90 | 7.68 | | 91 | 7.77 | | 92 | 7.86 | | 93 | 7.95 | | 94 | 8.04 | | 95 | 8.13 | | 96 | 8.22 | | 97 | 8.31 | | 98 | 8.41 | | 99 | 8.50 | | 100 | 8.59 | | 101 | 8.68 | | 102 | 8.78 | | 103 | 8.87 | | 104 | 8.96 | | 105 | 9.05 | | 106 | 9.15 | | 107 | 9.24 | | 108 | 9.33 | | 109 | 9.33 | | 110 | 9.33 | | 111 | 9.33 | | 112 | 9.33 | | 113 | 9.33" | +-------------------+------------------------------+ 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.

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