Higher pension scheme last date

In a bid to provide a ‘larger window’ to all eligible persons to file their applications under the Employee Pension Scheme (EPS), the Employees’ Provident Fund Organisation (EPFO) has extended the date for filing applications for higher pensions to June 2023. According to a notice issued by the Ministry of Labour and Employment on Tuesday, the retirement fund body has taken the decision after receiving several requests from various quarters for the extension of the deadline. Thus as per the notification, the deadline for filing an application under EPS would now be till 26 June instead of 3 May i.e., today. Stating that over 12 lakh applications have been received so far, the ministry said that after sympathetically considering the requests from employees, employers, and their associations,“i t has been decided that in order to provide a larger window of opportunity and in order to enable all eligible persons to file their applications, the timeline for filing applications would now be till 26th June 2023.” SC mandated a four-month period for filing for higher pensions EFPO hasn't processed pension claims, joint options validation timely? Here's what you can do EPFO eases EPS pension process by listing required documents; take a look Notably, this comes as a part of the Supreme Court order that mandated the Employees’ Provident Fund Organisation (EPFO) to provide at least four months of time to all eligible members to opt for higher pensions under EPS. In its 4 November 20...

Provident fund latest news: The retirement fund body on Monday said all eligible members can now opt and apply jointly with their employers for higher pension till May 3, 2023. Earlier, there were speculations March 3, 2023, could be the last date for opting for a higher pension. Speculations were rife that March 3 could be the last date for opting for a higher pension as the Supreme Court in its order on November 4, 2022, had mandated the Employees’ Provident Fund Organisation ( EPFO Higher Pension Scheme: Who Can Apply? • Employees and employers who had contributed on salary exceeding the wage ceiling of Rs 5,000 or Rs 6,500 • Employees and employers who did not exercise the joint option in the previous window while being EPS members • Employees who were members before September 1, 2014, and continued to be a member on or after that date. EPFO Higher Pension Scheme: A Step-by-Step Guide to Apply • Eligible subscribers would have to apply jointly with their employer for the enhanced benefit in the application form prescribed by the commissioner and all other required documents like joint declaration etc. • In the circular, the EPFO also provided for dealing with the ‘Joint Option Form’ by field offices of the body. • Once the application form is submitted, the application will be dealt with as specified under the circular. • EPFO stated that a facility will be provided for which the URL (unique resource location) will be informed. • Once received, the regional PF commissi...

“The timeline is being extended to facilitate and provide ample opportunity to the pensioners/members so as to ease out any difficulty being faced by them. This has been decided after sympathetically considering the various demands received from employees, employers and their associations," the notification further read. Since 2014, the maximum pensionable salary was capped at 15,000. Simply put, employees could only contribute 8.33 per cent of Rs 15,000 towards their pension scheme, even if they drew higher salaries. The SC order allowed certain individuals, meeting the predetermined eligibility criterion, to opt for a higher pension scheme. According to the Supreme Court judgment, anyone who is an EPS member as on September 1, 2014, is eligible to apply for higher contributions towards EPS.