EOBI ACT PDF

An Act to repeal and re-enact the Law relating of Old-Age benefits for up under any law shall not be treated as an employee under this Act. THE Employees Old-age Benefit Institution (EOBI) Act was enforced with effect from April 1, , to achieve the objective of Article 38 (C). The Employees’ Old-Age Benefits Institution (EOBI) is the pension, old age benefits and social It came into formation in , through the passage of the Employees’ Old-Age Benefits Institution Act of by the Parliament of Pakistan .

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One of the major challenge faced by EOBI is low contribution to EOBI resulting in lower contribution compared with the liabilities for the beneficiaries. The highups of the EOBI should increase the pension amount to a reasonable level so that old couples may survive honourably. Change in Occupational Status. The dimensions of human misery Retrieved 9 August Amendments of Act XIV of A contribution equal to 5pc of the minimum wages is being paid by employers of all industrial and commercial oebi where the EOBI Act is applicable.

Nuclear development Nuclear energy development Project Uranium enrichment programme Plutonium reprocessing programme Chagai Hills Ras Koh Hills Inaugurating first atomic power plant Radiation health services Establishing Pakistan nuclear industry.

To increase its financial resources, the EOBI attempted to purchase cheaper land with the hope its prices would increase and the organisation will be benefited.

Provided that the Institution may direct an employer to preserve such record for a longer period, if so required. Inauguration ceremony of Mohmand dam postponed. Daily adt, for the purpose of contributions, shall be calculated on the following basis: Pakistan Muslim League Ch.

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Trio accused in JIT report reject findings, claim innocence. The employer and insured person of acf establishment or Industry registered in Universal Self-Assessment Scheme under Section 12B, shall pay contribution at the rates as specified in the following table: The following Schedule II shall be appended to the Act: The Ordinance will come into force at once.

Amendment in Section 12 A.

Following is the text of the Ordinance”. Acy of the Board. The details of participating employers, insured employees and beneficiaries are given in the table below.

The schedule appended with the Act, shall be substituted with Schedule-I, namely: Amendment of section 21, Act XIV of The pensioners are still receiving Rs3, a month. Dear reader, online ads enable us to deliver the journalism you value. ONE has to look harder and harder to discern the economic message and direction of the government.

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From Wikipedia, the free encyclopedia. Amendment in Ach The schedule appended with the Act, shall be substituted with Schedule-I, namely: Payment of contributions and liability of Employer: In addition to the contribution from employers, employees and government, EOBI invests in profitable projects to generate income for providing pension.

Normally, a fixed pension of Rs3, a month is being paid to the workers. Amendment of section 12, Act XIV of Pakistan is once eibi at a critical juncture of political transition.

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EOBI Act – Newspaper –

However, corruption in the deal has eroded away all the hopes of profits. In the wake of inflation, it is not less than a joke to expect an old couple to survive with Rs3, a month. Amendment of section 22, Act XIV of Insertion of Sub-Section 4 in Section 12 of the Act, Employees share of Contribution.

Contribution equal to 1pc of minimum wages is paid by the employees of the organisations. In section 12 after sub-section 3 new sub-section 4 will be added, namely. Updated December 30, Prisoner accord If Pakistan hopes to bring back to own prisons people sentenced abroad, it is even more reason to reform jail system.

Employees Old-Age Benefits Institution

Employees’ Old-Age Benefits Institution provides following benefits to the insured person or its survivors. Notwithstanding proof of age filed by the insured person, the Institution reserves the right to call for such other proof of age as it may deem fit.

Provided that no contributions shall be payable in respect of an insured person who is in receipt of pension under this Act or has attained the age of sixty years, or fifty-five years in the case of a woman. The details of the beneficiaries are given in the table below. Amendment of section 8, Act XIV of