Employees Old Age Benefits Institution strives to ensure that each and every worker receives benefits in his or her old age. In this context, the organization registers the private organizations and receive a monthly contribution from the employer on behalf of workers. Employees Old Age Benefits Institution provides old age pension to workers. In case of their death, their surviving spouses are eligible for pension. The organization also provides Invalidity pension to those workers who can’t continue their job due to disability. The institution provides these benefits under EOBI Act 1976.
Employees Old Age Benefits Institution has its offices all around the country from Karachi to Gilgit Baltistan. The pension process takes around two to three months. When a worker is registered, the institution issues a computerized card to the worker which contains his details. This card is also necessary document for benefits under some other departments like Workers Welfare Fund.
EOBI issues various notifications from time to time. In this article, we will provide these notifications to you so as to increase the public awareness regarding EOBI. If you have any suggestions, please highlight in the comment section below.
EOBI Pension Increase Notification
EOBI has recently increased monthly pension of minimum pension holders from Rs. 8,500 to Rs. 10,000 per month and formula pension holders by 17 percent per month. The notification has been issued on 17th August 2023.
Employees Old Age Benefits Institution Wins Legal Battle Against 30 Employers
In a historic legal order, the Sindh High Court has given a judgement in the favour of EOBI against 30 employers regarding EOBI Contribution. It is pertinent to mention that EOBI collects contribution from employers on behalf of the workers in the private sector. The minimum wage rate set by the federal government is used as basis for this contribution rate as 5 percent of minimum wage has to be contributed by the employer and 1 percent has to be contributed by the employee. But many employers employ delaying tactics to avoid this contribution. One of the methods is to contribute at old minimum wage rates on the pretext of 18th amendment. The Sindh High Court categorically stated that EOBI can collect contribution at revised minimum wage rate as announced by the federal government.