EPFO has decided to launch a scheme which pays minimum monthly pension of Rs.1000 for its subscribers. The scheme is set to benefit about 28 lakh pensioners.
It has also proposed an increase in minimum wage limit to be part under EPFO. It will be Rs. 15,000 as compared to the current limit of Rs.6,500. This is a welcome move as it will ensure that 50 lakh more workers will be covered.