Employees Pension Scheme: EPFO subscribers can apply for more pensions until May 3, 2023. Earlier its deadline was March 3, which has been extended further. So far more than 8,000 members have applied online.
Employees Pension Scheme: Employees' Provident Fund Organization (EPFO) has started the application process for a higher pension (EPFO Higher Pension) under the Employees' Pension Scheme (EPS). There is an opportunity for the members to choose the higher pension option. EPFO subscribers can apply to get more pensions till May 3, 2023. Earlier its deadline was March 3, which has been extended further. So far more than 8,000 members have applied online.
Contribution of both employee and employer is included in a higher salary, joint application is required for EPF and EPS-95 schemes when they contribute to a higher salary. This is not a new requirement and predates EPS-95 and the position has been confirmed by the Supreme Court in the RC Gupta case, which states that it is a necessary condition for exercising a joint option on higher salary under EPS. is pre-cursor.
More than 8,000 members applied
EPFO is making every possible effort to publicize the joint option process. It can be submitted online till May 03, 2023. In respect of persons who were EPF members as of 01.09.2014, priority is being given to online applications by employees. February 27, 2023, and already 8,897 members have applied to their employers.
The circular dated 20 February 2023 follows the scheme's provisions and complies with the orders of the Supreme Court. Correct assessment of contributions and their credit and diversion to the Pension Fund are essential for the correct computation of pension fund benefits and evaluation of past services rendered and rendered. EPFO closed the options for retirement on 4 March 2023. EPS Members (before 01.09.2014 and whose options were not considered earlier) It has received 91,258 online applications from this category of employees till 04.03.2023.
