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Pension Schemes provisions takes effect in Social Security Code

The Ministry of Labour and Employment has notified that with effect from 03 May 2023, certain provisions of the Code on Social Security, 2020 come into force.

The following provisions of the Code on Social Security shall come into force, namely:––

  1. sub-section (3) of section 15, in so far as it relates to the Employees’ Pension Scheme, 1995;
  2. clause (a) of sub-section (1) of section 16, in so far as it relates to the Employees’ Pension Scheme,1995;
  3. clause (b) of sub-section (1) of section 16;
  4. sub-section (2) of section 16, in so far as it relates to the Employees’ Pension Scheme, 1995;
  5. section 143, in so far as it applies in giving effect to the provisions of sub-clause (ii) of clause (b) of sub-section (1) of section 16 in relation to the Employees’ Pension Scheme, 1995;
  6. sub-section (1) of section 164 to repeal the corresponding provisions of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952) specified in item 3 thereof; and
  7. clause (b) of sub-section (2) of section 164 in so far as it relates to the Employees’ Pension Scheme,1995.

The aforesaid provisions have been brought into force as a part of implemnting the Supreme Court judgment in the case of EPFO Vs. Sunil Kumar.B decided on 04 November 2022.

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