Employer pension contribution revised for eligible joint-option members under the pension scheme, with higher wages-based contribution rules applied. Central Government notification brings into force the relevant provisions of the Code on Social Security, 2020 to align the Employees' Pension Scheme, 1995 with the Supreme Court's directions concerning the additional employer contribution structure for eligible members who have exercised the joint option under paragraph 11. For such members, the employer's contribution is fixed at 9.49% of basic wages, dearness allowance and retaining allowance, reflecting an increase of 1.16% from the earlier 8.33% rate. The increased contribution applies only to the portion of wages above fifteen thousand rupees per month.
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Employer pension contribution revised for eligible joint-option members under the pension scheme, with higher wages-based contribution rules applied.
Central Government notification brings into force the relevant provisions of the Code on Social Security, 2020 to align the Employees' Pension Scheme, 1995 with the Supreme Court's directions concerning the additional employer contribution structure for eligible members who have exercised the joint option under paragraph 11. For such members, the employer's contribution is fixed at 9.49% of basic wages, dearness allowance and retaining allowance, reflecting an increase of 1.16% from the earlier 8.33% rate. The increased contribution applies only to the portion of wages above fifteen thousand rupees per month.
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