Kerala Announces Welfare Fund & Pension for IT-ITES Employees

Kerala government has started a welfare fund for employees of the Information Technology (IT) and information technology-enabled services (ITES) that ensures a pension of ₹3,000.

The Kerala government has started a welfare fund for employees of the Information Technology (IT) and information technology-enabled services (ITES) that ensures a pension of ₹3,000, chief minister Pinarayi Vijayan Said.

Kerala Government would promote more private IT parks with this aim in mind. Initiatives like the Kerala Development and Innovation Strategy Council, (K-DISC) and the Digital University were launched foreseeing the developments in these sectors. This will lead to creation of more jobs. He was speaking after inaugurating the welfare fund for employees in the IT and allied sectors.

The new welfare fund will be under the Kerala Shops and Commercial Establishment Workers Welfare Board. Pension, family pension, pregnancy and marriage-related benefits, medical aid, aid for the education of children, and aid for family in case of deaths are part of the welfare fund. As many as 1,15,452 employees and 2,682 entrepreneurs have registered under the scheme till now. Those who pay the contribution for 10 years continuously will get pension after they complete 60 years. Employees unable to work for more than two years due to health issues will also be eligible for pension. The beneficiaries will get a pension of ₹3,000.