CMPS LINK with AMENDMENT 2018

https://indiacode.nic.in/ViewFileUploaded?path=AC_CEN_8_8_00009_194846_1517807326587/notificationindividualfile/&file=COAL+MINES+PENSION+SCHEME+1998.pdf

MINISTRY OF COAL NOTIFICATION New Delhi, the 8th June, 2018 G.S.R. 540(E).—In exercise of the powers conferred by section 3E read with section 7 of the Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948 (46 of 1948), the Central Government hereby makes the following scheme further to amend the Coal Mines Pension Scheme, 1998, namely:— 1. Short title and commencement.—(1) This scheme may be called the Coal Mines Pension (Amendment) Scheme, 2018. (2) It shall be deemed to have come into force with effect from the first day of October, 2017. 2. In the Coal Mines Pension Scheme, 1998, in paragraph 3,— (i) clauses (b), (c) and (d) shall be omitted; (ii) after clause (f), the following clause shall be inserted, namely:— “(g) an amount equivalent to seven per cent. of the salary of the employee calculated on payable basic and Variable Dearness Allowance (VDA) and equal contribution from the employer, from the first day of October, 2017 or the date of joining, whichever is later”.

http://egazette.nic.in/WriteReadData/2018/186271.pdf

This Scheme shall be deemed to have come into force with effect from the 1st day of October, 2017.

·         Clause (b) of  Para 3 has been omitted which was as follows:

An amount equivalent to two and one-third percent of the salary of the employee, being the aggregate of equal shares of the employee and the employer from their respective contributions to the Fund, to be transferred from the appointed day from the fund of the employee.

·         Clause (c ) of Para 3 has been omitted which was as follows:

An amount equivalent to two percent of the Basic and dearness allowance paid of the employee from the first day of April, 1989 or the date of joining, whichever is later, up to the 31st day of March, 1996 and two percent of the notional salary of the employee from the first day of April, 1996 or the date of joining, whichever is later, to be transferred from his salary.

·         Clause (d) of Para 3 has been omitted which was as follows:

An amount equivalent to one increment to be calculated on the basis of the salary of the employee as on the first day of July, 1995 or the date of joining, whichever is later, to be transferred from the first day July, 1995 or the date of joining, whichever is later, to be transferred from the salary of the employee.

·         Clause (g) has been inserted in Para 3 which reads as follows:

An amount equivalent to seven per cent. of the salary of the employee calculated on payable basic and Variable Dearness Allowance (VDA) and equal contribution from the employer, from the first day of October, 2017 or the date of joining, whichever is later”.