Take Important and useful part of this.
This has reference to EPS95, 67 Lakhs of Retired Employees of Central Government of India (Now the average age of these are 65 years & more now.) after 15 year of service these are convert in undertaking of the Central governments production units in 1995.)
EPFO are made a new pension plan, they are promises to employees for getting more than present pension scheme by hook and crooks in the factory. These within short time 10 to 15 years these factories are close due to incapable top management. But in this time EPFO get to know this scheme failure.
They change as early as possible a letter move to all top managements official of all undertakings. But all the company are in greater losses top managements hide these letters they using our P.F. and Income tax as assets for company, At that they are not interested to show that letter to managements. But any how Workers are taken its copy from the managements. And go for legal action in the courts of Palakkad for Instrumentation,
Plakkad they get successes. When the mother unit of Instrumentation, KOTA-5 file the case in the Jaipur High Court. Now all companies are vanished by looting to Brokers (kabadies) heavy commission taken some of the purchasing also done for the Brokers (kbadies) and the rest of the employees get pay revision benefits with Voluntary Retirements benefits to quit them. But the EPFO are not shame on it they put review petition in the High Courts. Now the delay by the EPFO all the similar cases are added with this cases and it become 65Lakhs retirees employees to Court they get success all the version of courts now there are pending in three bench High Courts.
CJI has Sympathetically look this case. Now every retirees are getting 2800@per month. Now the calculation are being done for per month expenditure on this with EPFO calculated Pension as Per Table N0 29
The average money per month 27000@ now as per table we taken aprox 25000@month Therefore 25000X 65 lakhs = 1.6250,00,00,000( Arab @ month) and the pending till date
162.5 Arab of rupees are the back log is still pending to be given by Government to EPS65 Retirees.