Professional Documents
Culture Documents
BENEFIT LEGISLATION
Workshop on Labour Laws
Jointly Organized by
Small & Medium Enterprises Development Authority,
F. B. Area Association of Trade & Industry
&
BLP
BUREAU OF LABOUR PUBLICATIONS
December 2010
Editor:
EASTERN WORKER
Journal of Labour Laws, Industrial Relations, HR &
Social Compliance
Advice & Consulting:
To number of national and multinational companies
Tel :
(021) 241-4975
701-1600
Email:
blplabourlaws@yahoo.com
Website: www.blplabourlaws.com
EOBI
In SOCIAL SECURITY LEGISLATION
presentation:
Principle of social security coverage -- Article 25
of the Universal Declaration of the Human
Rights,
UN
1948:
EVERY ONE HAS A RIGHT TO SECURITY IN THE
EVENT
OF
UNEMPLOYMENT,
SICKNESS,
DISABILITY, WIDOWHOOD, OLD-AGE OR LACK OF
LIVELIHOOD IN CIRCUMSTANCES BEYOND HIS
CONTROL.
Purpose of
Employees Old-Age Benefits Act, 1976
To provide
Old-Age Pension/allowance
Old-Age Grant
Survivors Pension
Invalidity Pension
Employees
Old-Age Benefits Act, 1976
Applicability 1(4)(i)
falls below 5.
Rs. 6000. pm
Rs. 7000. pm
9. Contributions
Pay contribution at the rate of 5% (2008)
of employees wages.
No contribution payable of an insured
person:
Who is in receipt of Old-Age pension
under this Act, OR has attained the age
of 60, or 55 if woman.
9. Contributions
(2) If employee does not receive any
wages for any period, the Institution will
determine the wages & contribution.
(3) Employer shall not deduct/recover his
portion of contribution from insured
employees wages, notwithstanding any
agreement.
Maximum Share of
Max. Total
employer pm (sec.9)
Contribution
5% x Minimum Wages*
pm
Contributions by
________________________________________________________________________________
Rs. 360
Rs. 300
Rs. 420
350
Rs. 60
Rs. 70
EOAB BENEFITS
22. Old-Age Pension:
Insured person entitled to Old-Age pension
at the rate specified in the Schedule.
Provided (a) he is over 60 years or 55 in
case of a woman
(b) contribution paid for not less than 15
years.
EOAB BENEFITS
22-A. Old-Age Grant:
If an insured person retires, not otherwise entitled
to old-age pension, & contribution were paid
for less than 15 years but not less than 2
years, he shall be entitled to a old-age grant
in a lump sum equal to his one months
average wages for every completed year of
insurable service or part thereof in excess of 6
months.
EOAB BENEFITS
22-B. Survivors Pension:
In case of death of an insured person who had
completed not less than 3 years, the surviving
spouse shall be entitled to a life pension at the
rate specified in the Schedule.
In case of death of an insured person while not in
insurable employment but after he had
completed 5 years of insurable employment,
the surviving spouse shall be entitled to a life
pension at the rate specified in the Schedule.
EOAB BENEFITS
23. Invalidity Pension:
(1) An insured person who sustains
invalidity shall be entitled to an invalidity
pension at the rate by a formula set out
in the Schedule.
Provided contributions paid not<15 yrs or
contributions paid bet. 3--5 yrs, and
he/she under 60/55 yrs of age
(2) invalidity pension continues as long as
invalidity continues.
EOAB BENEFITS
28. Non-duplication of Benefits
1. An insured person shall not be paid
for the same period more than one
of the benefits provided for in this
Act.
2. Where an insured person is entitled
to more than one benefit under this
Act, he shall be given the higher of
such benefits.