EPS 95 is a Defined Contribution Defined benefit Scheme. Demand to link monthly pension of workers under Employees’ Pension Scheme, 1995 (EPS-1995) with cost of living index was considered by the High Empowered Monitoring Committee constituted by the Central Government in the year 2018 for complete evaluation and review of EPS-1995 and it was not found feasible for a funded scheme like EPS-1995. Therefore, the value of benefits cannot be left open ended by linking with inflation, which is variable.
The total number of new subscribers under EPF Scheme across the country was 1,09,93,119 as on 15.05.2024 for Financial Year 2023-24.
Details of State-wise New EPF Subscribers as on 15.05.2024 for Financial Year 2023-24 are given below.
| Data as on 15.05.2024 for Financial Year 2023-24 | |
| State/UT | Number of New EPF Subscribers |
| ANDAMAN AND NICOBAR ISLANDS | 2,193 |
| ANDHRA PRADESH | 252,688 |
| ARUNACHAL PRADESH | 2,645 |
| ASSAM | 69,519 |
| BIHAR | 124,575 |
| CHANDIGARH | 112,906 |
| CHATTISGARH | 110,816 |
| DELHI | 776,891 |
| GOA | 49,951 |
| GUJARAT | 881,243 |
| HARYANA | 744,828 |
| HIMACHAL PRADESH | 82,402 |
| JAMMU AND KASHMIR | 36,718 |
| JHARKHAND | 103,266 |
| KARNATAKA | 1,195,998 |
| KERALA | 196,876 |
| LADAKH | 576 |
| MADHYA PRADESH | 272,828 |
| MAHARASHTRA | 2,116,863 |
| MANIPUR | 1,956 |
| MEGHALAYA | 5,407 |
| MIZORAM | 690 |
| NAGALAND | 1,602 |
| ORISSA | 171,312 |
| PUNJAB | 139,238 |
| RAJASTHAN | 383,731 |
| TAMIL NADU | 1,191,562 |
| TELANGANA | 707,854 |
| TRIPURA | 4,165 |
| UTTAR PRADESH | 629,541 |
| UTTARAKHAND | 154,129 |
| WEST BENGAL | 468,150 |
| Grand Total | 10,993,119 |
This information was given by Union Minister of State for Labour & Employment, Smt. Shobha Karandlaje in a written reply in Lok Sabha today.
