Increase in minimum pension for employees affiliated to EPF to Rs 2000 will cost the govt Rs 4,671 cr and Rs 11696 cr if hiked to Rs 3000.
New Delhi: An increase in minimum pension for employees affiliated to EPF to Rs 2000 will cost the government Rs 4,671 crore and Rs 11696 crore if hiked to Rs 3000, Labour Minister Santosh Kumar Gangwar told the Lok Sabha on Monday.
Amid demand by some members to increase the minimum pension from the existing Rs 1000, Gangwar told the House that a consultation process has been initiated with Employees' Provident Fund Organisation (EPFO) and Central Board of Trustees.
He noted that a committee had earlier recommended increase of the minimum monthly member pension.
It was the Modi government which had hiked the pension to Rs 1000 in 2014, he said.