Minimum pension in India was to be Rs 1000/ per month..but i receive only Rs 700/ ..where is fault ? more  

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respected sir after minutely reading the message i will discuss with you
about the pros & cons of it advance new year good night artist & art
teacher abhijit roy more  
In today's inflation scenario, what can you do with Rs.1000/-? Isn't it better to give that money to the subscriber like the rest of the PF amount and let him / her invest it for best returns? more  
Dear Sriram
I have given my comments.  Kindly go through them for whatever they are worth.  It is for expert-friends like you to carry our effort to make the life of all citizens liveable. Regards. = Vishwanath (sviss38@yahoo.com)


On Friday, November 6, 2015 6:47 PM, Srinivasan Mohanram <support@localcirclesmail.com> wrote: more  
Dear friends,
I think I have a seemingly simple answer for this issue. I share it below. It is for others to judge whether it is worth considering.
The idea is that every single individual on attaining the age of 60-normal age of retirement, one should be entitled to a minimum Pension of say Rs.10,000. Kindly bear with me and go through this seemingly simple solution.
We are both service providers and consumers. As consumers it is our sacred duty to contribute towards the welfare of service providers. As consumers most of us withdraw money from the Banks to spend it for getting services from the Service Givers. Introduce a cess by way of progressive rate of TDS against withdrawals. In other words as consumers we give mandate (akin to ECS) to the Banks to deduct TDS against withdrawals made by us which evidently we are going to obtain goods/services. The total withdrawals are reported to be 800-1000 lakh crores per annum. A flat rate of 2% TDS should give a fund of around 16/20 lakh crores per annum without any Paper work or human intervention. This huge amount can be set aside in reserve to meet the demands of Pension and other Social Security measures. Say we determine a Pension of Rs.10000 pm for a person who attains the age of 60 and ceases to be in employment. If one retires for some compelling reasons he would start getting a somewhat lesser Pension on graded basis and this amount would increase in stages with every advancing age of 51, 52 and so on and on reaching the age of 60 he would start getting automatically the optimum pension.

With the advanced technology at our disposal combined with the efficient Banking (we are lucky to have) it should be possible to conceive a scheme on the above lines. In fact all the fund requirements like Revenue, contingency fund etc. can be met by this progressive TDS.

Friends especially like active and expert members like Srinivasan Mohanram of Tamil Nadu to give a serious thought to the above seemingly simplistic idea and decide whether it is workable with necessary improvements.

It would be my privilege to contribute further within my own capacity and ability to this exercise.

I would urge Shri Guptaji - the prime mover to please give a thought to this proposal. Thanks and regards.

I look forward to detailed comments (friendly or hostile) from my friends. The sole idea is to find a simple but simple suggestion. Hope you would oblige me who is penning this from Chembur in Mumbai. = Love and good wishes = Vishwanathan (sviss38@yahoo.com) more  
UPAII govt passed Min.pension of sRs.1000/ in the Cabinet meeting held on 27.02.2014 FN. I was present at the house of Hon.ble Min.for Lab. Oscar Fernandez, the mesage was onfirmed by Hon.Min MOS for PMO at 2 pm. But subsequently dur to change of Govt. this was implemented wef 1.9.2014, Five months was swalled.A mega function was taken out through out india on 30.09.2014 feleicitating the EPS95 Pensioners for the implementation of min.R.1000/- But in fact on 1st we found that out of 28K pensioners more than 80% did not get their min.1000/- .All India Coordiantion Committee on EPS conducted demonstration throghout India infront of PF offices for implementation min.1000/-. followed by this leaders in india including myself met the Hon.ble Mon.for Labour Shree Bandaru Datreya on 27.11.2014 at hisparliament Chamber and CPFC Shree KK.Jalan for implementation of 1000/- as per GO.But the EPFO deduction Commutation, early pension this was highlighted hence this less amount. more  
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