EPFO issues guidelines on higher pension after SC judgment How to apply

Clarifying on EPFO ​​subscribers eligible for higher pension after the Supreme Court judgment, the EPFO ​​circular states, “Employees retiring before September 1, 2014, on exercising option under para 11(3) of the 1995 scheme shall be covered under the provisions of section 11(3) of the Pension Scheme as it stood prior to the 2014 amendment.”

The EPFO ​​circular has now made it clear that the following EPFO ​​members will be eligible for higher pension after the Supreme Court judgement:

1]EPS member who contributed as an employee on salary in excess of the then prevailing wage limit 5,000 or 6,500; And

2]EPFO ​​subscribers who exercised joint option under the Employees’ Pension Scheme (EPS) of the pre-revised scheme while being a member of EPS-95, and

3]EPFO ​​members whose exercise of such option was denied by EPFO.

How can eligible pensioners apply for higher pension?

Eligible EPS members need to visit the concerned regional EPFO ​​office and submit the required application along with proper documents. Here is the step by step guide:

1]The request shall be made in such form and manner as may be specified by the Commissioner;

2]The application for verification shall contain a disclaimer as ordered in the aforesaid Government notification;

3]In case of need for adjustment of share Provident Fund To pension fund and re-crediting the Fund, if any, with the express consent of the pensioner shall be given in the application form;

4]In case of transfer of money from Exempted Provident Fund Trust to Pension Fund of EPFO, an undertaking of the trustee shall be submitted. The undertaking shall be to the effect that the contribution due till the date of payment shall be deposited along with interest within the specified period; And

5]The manner of crediting such funds will be applicable in subsequent circulars.

The Supreme Court in its November order has provided to the employees Who? Existing EPS-95 members as on September 1, 2014, can contribute up to 8.33 per cent of their actual salary against the ceiling of 8.33 per cent of the pensionable salary. 15,000 per month, towards pension. It also did away with the 2014 revision’s requirement of mandating employer contribution of 1.16 per cent of salary excess. 15,000 per month.

The Supreme Court in the said judgment allowed a window of 4 months from the date of judgment to the employees to opt for higher pension.”