With less than 2 days left for individuals to apply for higher pension under Employees’ Pension Scheme (EPS), the question is: Will EPFO extend the deadline? The last date for submission of application for higher pension under EPS is May 3, 2023. The EPFO had issued a circular on April 23 stating that applications for higher pension and combined options would be scrutinized by field offices. If the requirements are met, the salary details submitted by the employers will be verified with the data available with the field offices.
The Supreme Court, in its judgment dated November 4, 2022, had given four months time from the date of judgment to the eligible employees to opt for the higher pension. Thus the application deadline was extended till March 3, 2023.
“Online facility for submission of application for verification of joint options to the employees who retired prior to 01.09.2014 and exercised joint options prior to their retirement was provided on EPFO website up to 03.03.2023. Now, on the demand of the Employees’/Employers’ Associations, the Chairman, Central Board of Trustees has extended the time for submission of applications for verification of joint options from such employees up to 3rd May 2023.” EPFO said in an official statement on Monday.
documents to submit
The documents that an eligible employee needs to submit include an agreement to allow transfer of funds from provident fund to pension fund, proof of employer’s share in provident fund exceeding the standard wage limit. 5,000/- 6,500, and a joint option form with declaration of the employer and the employee
In other news the Kerala The High Court has directed EPFO to make provision in its online system to allow employees and pensioners to opt for higher contribution without furnishing proof of prior consent.
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