
EOBI is the abbreviation for Employee Old-Age Benefits Institute which works under the influence of the Ministry of Overseas Pakistan and Human Resource Development. Parliament of Pakistan passed this Act in 1976 in the EOBI Act. The main purpose of this EOBI is to serve the adults of our country who are unable to work and has served the nation all their lives. It provides insurance, pensions, and other benefits for our elderly.
There is no such specific limitation but registration of EOBI become mandatory for businesses if the number of employees exceeds to 5. In such scenario if the business fails to comply with the registration on timely basis may results in imposition of demand for provision retrospectively along with the penalty surcharge.
EOBI works under the influence of the Ministry of Overseas Pakistani and Human Resource Development. Parliament of Pakistan passed this Act in 1976 as EOBI Act
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