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The Board administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India. [9] The board is chaired by the Union Labour Minister of India. Presently, the following three schemes are in operation under the Act: Employees' Provident Fund Scheme, 1952
Jeevan Pramaan is an Indian Life Certificate program affiliated with Aadhaar for people with pensions. [1] It was started by Prime Minister Narendra Modi on 10 November 2014. [2] [3] The certificate was made for people who receive pensions from central or state governments or other government organisations. [1]
(Atal Pension Scheme) CS MoF: 2015: Pension: Original form in 2010 as the Swavalamban Yojana. [72] A pension program that allows people to make voluntary contributions within a certain range with a matching government contribution to receive pension in the future. By September 2021, non-metros subscribers numbered 3,77,00,000. [73] PM Suraksha ...
India operates a complex pension system. There are however three major pillars to the Indian pension system: the solidarity social assistance called the National Social Assistance Programme (NSAP) for the elderly poor, the civil servants pension (now open for all) and the mandatory defined contribution pension programs run by the Employees' Provident Fund Organisation of India for private ...
On 23 August 2003, the Interim Pension Fund Regulatory & Development Authority (PFRDA) was established by the Government of India to oversee pension funds and protect subscribers' interests. The PFRDA Act of 2013 officially confirmed PFRDA as the regulator for the Indian pension sector, effective from 1 February 2014. [ 31 ]
Karnataka was the first state in the country to enact the Panchayat Raj Act, incorporating all provisions of the 73rd Amendment to the Constitution. In 2014, Karnataka State Grama Panchayats Delimitation Committee was constituted by the government of Karnataka, with Chairman S G Nanjaiahna Mutt and 6 members.
The Pension Parishad – an initiative to ensure universal pension to all workers in India – has been demanding that the Government of India establish a "non-contributory and universal old age pension system with a minimum amount of monthly pension not less than 50% of the minimum wage or ₹ 2,000 (US$23), whichever is higher." [51]
The contributory pension system was notified by the Government of India on 22 December 2003 to the National Pension System (NPS) with effect from 1 January 2004. The NPS was subsequently extended to all citizens of the country with effect from 1 May 2009 including self employed professionals and others in the unorganized sector on a voluntary ...