The Supreme Court conveyed its crucial Judgement in the ETF Pension case which surely going to affect many employees all around the country. Here are the best parts of the Judgement conveyed by a constitution Bench including Chief Justice of India, Justice Aniruddha Bose and Justice Sudhanshu Dhulia.
The equipments of the employee’s Pension Amendment Scheme, 2014 are lawful and well grounded. Several equipments have been explained down for current associates.
Last date to enroll the scheme has been expanded for a period of 4 more months for every employee who did not exercise option but are qualified to do so. Remaining necessities as per amended equipments shall be adhere to the employees who had retired previous to 1 st September 2014 without exercising the option under the pre- modification scheme that would not be made eligible to the advantage of this judgement as they have so far exited
the scheme .
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The employees who get retired prior to September 1, 2014 and who exercised the option are going to be covered up by 11(3) of Pension Scheme as it up righted previous to the 2014 modification.
The necessities of associates to make a contribution of 1.16% if the salary is more than Rs 15,000 as an extra contribution which comes under the modified scheme has been held to be in operation and null however, this scene of the judgement is postponed for minimum 6 months to authorize authorities to make accommodation in the scheme so that extra contribution can be made from other legitimate ways.
As you see above that period of 6 months or till such time any modification can be made, no matter which is earlier, employee contribution will be a standstill gap measure. The said sum will be amendable on the grounds of the modification to this scheme that can be made.
The Judgement of the constitution bench in RC Gupta vs Regional Provident Fund commissioner in the year 2016 are acknowledged as regards exposition to paragraph 11(3) of the pre- modification scheme.
Fund Jurisdiction will apply the direction in RC Gupta Judgment in less than 8 months. All reconsiderations of the EPFO and the Union administration against the High court’s decisions are permitted in the mentioned terms.
