Over 7453 Air India staff brought under Employees Provident Fund cover
The Employees Provident Fund Organisation (EPFO) has on-boarded Air India for social security benefits and has received contributions for 7,453 employees so far, the labour ministry said on Saturday.
The announcement comes two days after the Tata Group took over the debt-ridden airline from the Union government. Air India had applied for EPFO coverage, which has been allowed, it said.
“The social security benefits will be provided to around 7,453 employees for whom contributions have been filed by Air India with EPFO for the month of December 2021. These Employees of Air India are entitled to several benefits,” the ministry said.
These employees will be entitled to benefits such as extra 2 per cent employer’s contributions in their provident fund (PF) accounts at 12 per cent of their wages.
Earlier they were covered under the PF Act of 1925, where the contributions were at 10 per cent by employer and 10 per cent by employee. The EPF Scheme 1952, EPS 1995 (employees pension scheme) and EDLI 1976 (group insurance) will now be applicable to the employees.
A guaranteed minimum pension of Rs 1,000 per month will be available to employees and pensions to family and dependents in case of death of an employee.
“An assured insurance benefit in case of death of a member will be available in the range of minimum Rs 2.50 lakh and maximum 7 lakh.”