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EPFO Circular To Fix Higher Pension On Pro-Rata Basis Questioned In Kerala High Court: EPF Pension
The Business Guardian
|March 30, 2024
The Kerala High Court in the case VR Balu v. Union of India and ors. observed wherein the retired employee of the Kerala Industrial Infrastructure Development Corporation has moved the High Court challenging a circular of the Employees Provident Fund Organization, implementing pro-rata, in proportion system for higher pensions for those retiring from September 1, 2014.
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It has been contended by him that the petitioner seeks that his pension be calculated by taking an average of 60 months' salary as provided under the Pension Scheme, 1995. Pro-rata system leads to a significant reduction in the pension sum.
The court stated that if the pension is being calculated while taking an average of 60 months preceding the exit from the Pension Scheme, the petitioner would be entitled to a pension of Rs.52,361/-.
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