(1.) The petitioners are retired employees of the 6th respondent, Ernakulam Regional Co-operative Milk Produces Union. The said establishment is covered under the Employees' Provident Funds and Miscellaneous Provisions Act , 1952 (' EPF Act ' for the sake of brevity). Being aggrieved by the refusal of the respondents to extend the provisions of the Employees' Pension Scheme, 1995 in its full vigor and mandate, they have approached this Court with this petition. To canvass the relief sought for, they mainly rely on a judgment of a Division Bench of this Court in Sasikumar P. and Ors v. Union of India and Ors ., [ILR 2019 (1) Ker. 614].
(2.) For deciding the issues involved, it is necessary to recapitulate the skeletal facts. The issues raised by the petitioners are covered by precedents of this Court as well as the Hon'ble Supreme Court.
(3.) The petitioners herein are retired employees of the 6 th respondent covered under the provisions of the EPF Act . The Act provides for formulation of a Scheme for the creation of a Provident Fund account in the name of each employee of a covered establishment. The Fund was to be constituted by depositing an employee's share at the rate of 10% or 12% of the basic wages including Dearness Allowance. The employer has also to constitute an identical amount and the entire corpus would constitute the Provident Fund. Originally, the Act did not provide for the creation of a Pension Fund. It is contended that Section 6A of the Act was introduced for creating a pension scheme to the employees and the Employees' Pension Scheme, 1995 was framed. The maximum pensionable salary was initially fixed at Rs.5,000/- which was later enhanced to Rs.6,500/- and such sums from the employer's contribution under Section 6 not exceeding 8.33% of the basic wages, Dearness Allowance and retaining allowance were to be the corpus of the Pension Fund. Subsequently, a proviso was added to Clause 11(3) of the Employees' Pension Scheme, 1995 with effect from 16.03.1996 granting an option to the employer and the employee to contribute amounts towards the Pension Fund at the rate of 8.33% of the actual salary, where the salary exceeded Rs.6,500/- per mensem.