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

Amendments of Act XIV of The Ordinance will come into force at once. Following is the text of the Ordinance”.

Amendment of eobj 2, Act XIV of Amendment of section 8, Act XIV of Amendment of section 9, Act XIV of Amendment of section 12, Act XIV of 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.

The declaration so made shall be accepted without any question provided no demand of contributions previously created remains outstanding against such empl. Amendment of section 21, Act XIV of The Institution shall, at intervals of not more than three years, have an actuarial valuation made in the prescribed manner of its assets and liabilities and no change in rate of contribution or benefit under this Act shall sct made without proper actuarial valuation.

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Amendment of section 22, Act XIV of Provided acg that where the contribution under section 9B is paid regularly by the insured person himself in accordance with prescribed procedure, his entitlement to the benefit shall not be affected by default in payment eoobi employer’s share of contribution under section 9.

Amendment of section 23, Act XIV of Amendment of section 37, Act XIV of Amendment of section 44, Act XIV of Whereas it is expedient further to amend the Employees Old Age Benefits Act, for the purposes hereinafter appearing. It is hereby enacted as follows: Short title, extent and commencement: 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.

Amendment in section 9B of the Act.

Section 9B of the Act, shall be substituted as under: Insertion of Section 11A. After section 11, following new section shall be inserted: Provided that above provision shall not be applicable to an employee who has been dismissed or terminated for the reasons other than the eibi of inflicting punishment for seeking self registration.

Re-numbering of existing Section 11A. T he existing section 11A shall be renumbered as section 11B. Insertion of Sub-Section 4 in Section 12 of the Act, In section 12 after sub-section 3 new sub-section 4 will be added, namely.

Employees Old-Age Benefits Institution – Wikipedia

Amendment in Section 12 A. In the said act after section 12 following new section shall be inserted, namely: The Institution shall accept the declaration so made by the employers, provided that the number of employees declared and amount of contribution paid is not less than the amount payable in the preceding year.

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Amendment in section 23 of the Act XIV of The schedule appended with the Act, shall be substituted with Schedule-I, namely: Basic Rate of Old age pension, Survivors pension and Invalidity pension. Insertion of Schedule-II in the Act, The following Schedule II shall be appended to the Act: The employer and insured person of an establishment or Industry registered in Universal Self-Assessment Scheme under Section 12B, shall pay contribution at the rates as specified in the following table: Employees share of Contribution.

The declaration so made shall be accepted without any question provided no demand of contributions previously created remains outstanding against such empl 2 Any employers who is already registered under normal pension scheme and opts for registration under self assessment scheme shall not decrease the total amount of contributions and number of insured persons already registered immediately prior to exercising his option for self assessment scheme.

Whereas it is expedient further to amend the Employees Old Age Benefits Act, for the purposes hereinafter appearing; It is hereby enacted as follows: Insertion of Section 11A After section 11, following new section shall be inserted: Amendment in Schedule The schedule appended with the Act, shall be substituted with Schedule-I, namely: