Gift Of Annuity: A Truth For Every Professional?

Drawing a monthly pension post retirement is probably one of the best things that Indian working professionals can hope for. While this has been a reality for many government sector employees till date, now even private sector employees can look forward to enjoying such benefits. The Supreme Court of India on April 1, 2019 upheld the Kerala High Court’s decision of calculating pension on the basis of the actual salary instead of capping it at Rs15,000  and stated it to be beyond the legislation or authority of the Employee Provident Fund Act, 1952. This decision came as a breather for the employees of the private sector, as it not only makes them eligible for a monthly pension from their EPF account, but the amount to be received has also been increased. However, even then there are some grey clouds of uncertainty and doubts lurking around the Supreme Court’s...