[vc_row][vc_column][vc_column_text]The Central Government will constitute a high-level Committee to revamp the Employees Pension Scheme (EPS) and any gaps would be plugged according to a statement issued by Labour and Employment Minister Sri Bandaru Dattatreya in the Lok Sabha. In association with Employees’ State Insurance Corporation (ESIC), the Government is going to formulate a medical benefit scheme for all the pensioners who are Members of the Employees’ Provident Fund (EPF). This will be a contributory medical benefit scheme, whose details are being worked out.
EPS ensures minimum pension to the employees besides providing benefits like health and housing. On demand of restoration of pension commutation, the Labour Minister has said the issue would also be looked at by his Ministry.
The Labour Minister also said that in the context of the Housing for All Programme launched by the Prime Minister, the EPFO is formulating a new credit- linked subsidy scheme for housing for the EPF subscribers. Under this scheme, Members can form a cooperative society and they will be eligible to avail the scheme.
On providing health benefits to the workers, he said the Ministry is considering a model benefit scheme for all pensioners who contribute to Employees’ State Insurance Corporation (ESIC). He also said the ministry has issued instructions to all field officers to ensure that pension is credited into accounts on the first working day of every month.
Benefits from ESIC to Subscribers
Medical: ESIC provides reasonable Medical Care for the Subscriber and his/her family from day one of entering into insurable employment.Sickness: ESIC provides 70% of average daily wages in cash during medical leave, up to 91 days in two consecutive benefit periods.
Maternity: ESIC provides 100% of average daily wages in cash up to 12 weeks in confinement and 6 week in case of miscarriage, during maternity leave. The period is being proposed to be increased up to 26 weeks. Disablement: ESIC provides continuous monthly payment till injury lasts for partial disablement and for whole life for permanent total disablement.Dependent: ESIC provides monthly pension shareable in fixed proportions among dependants in case of death due to employment injury. Unemployment Allowance: ESIC Providers monthly cash allowance in case of involuntary loss of employment or permanent invalidity due to non-employment injury for a duration of maximum 24 months.[/vc_column_text][/vc_column][/vc_row]