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Employee Pension Scheme 1995 | Interview with Neeraj Bhargava and Ram Niwas Bairwa

This article is for all those who have attained retirement and have a lot of questions regarding the policies and pay for the employee pension scheme. For ordinary PF member and pensioners, there is a gift. This is a new book available that lists every question and answer relating to the common queries. We will introduce you to the book which was launched in April 2018.

Before you know about the book, meet the people who are the brains behind this gold mine. They are Mr Neeraj Bhargava, a retired General Manager, Faculty of Engineering and Mr Ram Nivas Bairwa, a retired Regional EPF Commissioner. Let us have a look at these two brilliant minds.

Meet Mr Neeraj Bhargava (Retd. 2016)

He is a retired General Manager and is now working as a teacher. Post-retirement, he found out about higher pension and came in contact with Praveen Kohli, who is working on a movement regarding higher pension. Interestingly, Bhargava came to know about this from Kohli and he feels that it is essential for people to keep a track of why their money is deducted and what is the purpose.

Meet Mr Ram Nivas Bairwa (Retd. 2012)

Joined services in 1970 and retired in 2012 as the Regional EPF Commissioner. He started writing the book which is considered as a Bible for PF and Pension. He is the pioneer of the issues regarding PF and Pension.

We have gathered some common and important questions from the long list of pensioners and PF members and you can see the conversation below.

pension scheme
Neeraj Bhargava (left) and Ram Niwas Bairwa (right)

1. What are the major changes in EPS scheme after 2014? (Including retired as well as servicemen)

As you know the pension scheme and contribution ceiling was increased to Rs 15000, from the earlier amount of Rs 6,500. The new employees who have joined after 1st Sept will automatically be a PF member, but will not be a part of the pension contribution. These are the two major changes which were brought about by the 2014 PF Amendment. Moreover, there are two warnings if an employee is working for a long duration but hasn’t reached the pension withdrawal age, then upon changing jobs, must continue the pension and PF credentials to the new office.

A lapse can happen when for continuous 36 months the contribution has not been paid, even though the service can be of more than 20 years. An employee must maintain regularity to refrain from the lapses. Another amendment is that if an employee has been promoted to a superintendent above the age of 58, then, in this case, the concerned employee can increase the contribution up to 60 years. Moreover, the employer has no say in whether the employee wants to increase their pension contribution period. No change in documentation.

2. Does EPS scheme differentiate between exempted and unexempted members? Why?

The definition of exempted and non-exempted employee is available with the PF department. The exempted employees are those whose company creates their own PF trust and keeps the PF within the company under the regulations of the government, or else, it will be overtaken by the PF department. There are conditions which the trusts have to follow. Meanwhile, for the pensioners, there is such a bar as exempted or unexempted.

If any employer or employee wants to contribute in the pension scheme but has a salary more than the ceiling, then the pension will be calculated in a different manner. However, this system was not active for the last 12 years and it was done by the government. There were a lot of repercussions and finally on 4th October 2016, Supreme Court for RC Gupta vs Regional PF Commissioner stated that for the ones who are paying the complete PF contribution, they are eligible to deduct pension contribution over complete salary and appeal for higher calculation.

According to the Supreme Court, money from the PF will be diverted and employees can get a higher pension. The PF Commissioner can transfer the money easily from one account to the other.

The Bible for Pension Scheme and PF

Now its time to dig deeper into the book. Without taking the name we will now discuss the book. We asked Bairwa Sir, what was his inspiration to write the book and what is the importance of this book? Adding to our enlightenment we came to know that he has written a book on pension called ‘The Employees Pension Scheme 1995’, Know about it. It was a practical book and now it is no longer available after 2009. After 2014 the new rules came up and he got a chance to get in touch with Mr Bhargava.

As you already know Bhargava Sir was keen to know more about the pension scheme and how can people keep themselves aware. Meeting Bairwa Sir was a good opportunity to share thoughts and queries. They both wanted to rewrite the book and include all the necessary information. They decided to keep the English version and go ahead with printing.

The Book is called ‘All About Employees Pension Scheme 1995’, published by Snehal Publishers, Jaipur. For any pension-related query, the book is a one-stop answer. There is no book in the market which will offer you the more accurate and latest information on pension and PF.

More About the Book

According to Bhargava Sir, the book entails all the common questions that come up in the minds of the ordinary employees. In a very simple language, answers to questions like what are the amendments in the existing scheme, the book has all the 40-43 GSR amendment list. Furthermore, for any query, you can look up Google and search for the GSRs.

Since 1995, all the annual reports, audit reports come in the graphical and tabular manner. For the common man, it will be easy to understand the pattern. Moreover, there are some case studies available in the book too.  

As an employee and PF member, your usual questions are all answered in this book. All the PF members, employees, and servicemen should once go through this book. It will help them to know more about the right calculations, predictions, etc. In addition, they can also understand how their money is rolling.

Final Thoughts

For many manual errors, PF and pensioners might face issues. Altogether, this book will enlighten you about all the details regarding PF and Pension. All thanks to the two great minds for pulling up such an amazing book. It will make sure the citizens of India get their due share after years of hard work and dedicated services. Watch our interview with these two gentlemen below.

Check out our interview with Mr Praveen Kohli in Part 1 and Part 2.

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