As per the practice, the commission is headed by a former Supreme Court Judge and its other members would include experts and officials.
Meanwhile, the government is also believed to have approved fixing minimum pension of Rs 1,000 per month under the Employees' Pension Scheme 1995 (EPS-95) run by retirement fund body Employees' Provident Fund Organisation (EPFO).
The government is also understood to have cleared maximum basic wage ceiling of Rs 15,000 per month for deduction of Provident Fund from existing Rs 6,500 per month for private sector workers, in general, covered under schemes run by EPFO.
