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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Employees Old-Age Benefits Institution – Wikipedia

From Wikipedia, the free encyclopedia. Provided that above provision shall not be applicable to an employee who has been dismissed or terminated for the reasons other than the intention of inflicting punishment for seeking self registration.

In addition to the contribution from employers, employees and government, EOBI invests in profitable projects to generate income for providing pension. ONE has to look harder and harder to discern the economic message and direction of the government. As per numbers there are over 2 lakh beneficiaries of these scheme.

By using actt site, you agree to the Terms of Use and Privacy Policy. Retrieved 9 August Provided that no contributions shall be payable in respect of an insured person who is in eobo of pension under this Act or has attained the age of sixty years, eboi fifty-five years in the case of a woman.

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Employees Old-Age Benefits Institution

EOBI operates on the partially funded basis. Amendment of section 37, Act XIV of Short title, extent and commencement: Affidavit will be accepted if it is established to the satisfaction of the Institution that documentary proof is not available. Dear reader, online ads enable us to deliver the journalism you value.

The Ordinance will come into force at once. Pages using infobox government agency with unknown parameters.

In the said act after section 12 following new section shall be inserted, namely: Whereas it is expedient further to amend the Employees Old Age Benefits Act, for the xct hereinafter appearing. In section 12 after sub-section 3 new sub-section 4 will be added, namely.

Further work is required to reduce the administrative expenses to ensure profitability of the scheme. Inauguration ceremony of Mohmand dam postponed. Amendment of section 44, Act XIV of The dimensions of human misery The pensioners are still receiving Rs3, a month.

Employees’ Old-Age Benefits Institution

Amendments of Act XIV of Pakistan federal departments and agencies Age pension systems Government of Zulfikar Ali Bhutto establishments in Pakistan Government agencies wobi in Pensions in Pakistan. Views Read Edit View history.

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Employees share of Contribution. This contribution constitutes half of the total contribution while remaining half comes from the Government of Pakistan. Amendment of section 2, Act XIV of The highups of the EOBI should increase the pension amount to a reasonable level so that old couples may survive honourably.

Provided that checking of record in case of those employers who have not opted for Self-Assessment Scheme shall only be done once in a year, with fifteen day’s prior notice, by an officer not below the rank of Assistant Director. No of days for which Salary is paid. Change in Occupational Status. Eob Institution shall accept the declaration so made by the employers, provided that the number of employees declared and amount of contribution paid is eibi less than the amount payable in the preceding year.

December 31, Economic direction?