Labour budget for FY 2023-24 does not factor in implication of SC’s higher pension order, government tells Parliament panel

The labour ministry has told a parliamentary panel that its budget estimates for the next financial year have been prepared without factoring in the implications of the Supreme Court’s November 4, 2022, judgment, which provided a one-time opportunity to eligible employees to opt for higher pension from the Employees’ Pension Scheme (EPS) under the Employees’ Provident Fund (EPF) Scheme.

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