Employees Pension Scheme 1995-Amendments. (Fourth Amendment) Notification dated 16-06-2016 wef 1st day of April, 2015

Employees’ Pension Scheme 1995-Amendments

MINISTRY OF LABOUR AND EMPLOYMENT
NOTIFICATION

New Delhi, the 16th June, 2016.

G.S.R. 603(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 (Fourth Amendment) Scheme, 2016.
    (2) It shall come into force with effect from the 1st day of April, 2015.

2. In the Employees’ Pension Scheme, 1995 (hereinafter referred to as the principal scheme), in paragraph 12,-

(a) in sub-paragraph (7A),-

(i) the words and figures “for the financial year 2014-15” occurring at the end shall be omitted;
(ii) the following proviso shall be inserted, namely:-

“Provided that, on and from the 1st day of September, 2014, the minimum pension of one thousand rupees payable under this sub-paragraph shall be subject to-

(i) deductions on account of benefits of commutation and return of capital taken by members under the extant provisions of this scheme prior to 26th September, 2008; and

(ii) deductions on account of early pension under sub-paragraph (7).”.

3. In the principal scheme, in paragraph 16,-

(A) in sub-paragraph (2), in clause (a), in sub-clause (v), the words and figures “for the financial year 2014-15” shall be omitted;

(B) in sub-paragraph (3), in the proviso to clause (b), the words and figures “for the financial year 2014-15” shall be omitted;

(C) in sub-paragraph (4), in the proviso to clause (a), the words and figures “for the financial year 2014-15” shall be omitted.

[No. R-15025/3/2007-SS-II (Vol-II)(Pt.II)]

MANISH GUPTA,
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 16th November, 1995 and was lastly amended vide notification No. G.S.R. 533(E) dated the 19th May, 2016.