EPF withdrawal benefits extended to members with under 6 months of service

 The Indian labour ministry amended the Employees’ Pension Scheme (EPS), 1995, to ensure that members with less than six months of contributory service receive withdrawal benefits. This change is expected to benefit over 700,000 EPS members annually who leave the scheme early. Additionally, the government modified Table D under the scheme to account for every completed month of service, ensuring proportionate withdrawal benefits based on the number of months worked and the wages on which EPS contributions were made. Previously, members with less than six months of service received no benefits, leading to many claim rejections and grievances. The new amendment aims to rationalise the payment of withdrawal benefits, with an estimated 2.3 million members benefiting from the modification of Table D each year. This change ensures fairer payment and addresses the issue of fractional service periods being ignored.