Comments
Retirement fund manager EPFO has extended the deadline till May 31 for employers to upload wage details of those opting for higher pension to its database.
Earlier, the deadline for employers to upload wage details for those opting for higher pension on higher contribution was December 31, 2023, a labour ministry statement said.
EPFO (Employees' Provident Fund Organisation) had earlier provided all its subscribers an online facility for submitting applications for validation of option/joint options for pension on higher contributions.
The higher pension option was offered to eligible pensioners/EPFO members in compliance with the Supreme Court order dated November 4, 2022.
The online application facility was launched on February 26, 2023 with an initial deadline of May 3, 2023.
However, considering the representations from the employees, the deadline was extended to June 26, 2023 in order to provide complete four months' time to eligible pensioners/members for filing applications.
Another 15 days were given to applicants and the last date for submission of applications for validation of option/ joint options by employees was extended till July 11, 2023.
As many as 17.49 lakh applications have been received from pensioners/members till July 11, 2023.
In view of representations received from Employers & Employers' Associations, wherein requests were made to extend time period for uploading wage details of applicant pensioners/members, the employers were also given further period of three months to submit wage details etc. online latest by September 30, 2023.
The deadline was later extended till December 31, 2023 after more representations were received from Employers & Employers' Associations.
More than 3.6 lakh applications for validation of option/joint options are still pending with the employers for processing, it stated.
Therefore, the ministry said in order to ensure that employers process these remaining applications, the Chairman, CBT (Central Board of Trustees), EPFO, has approved the proposal to grant another extension of time for employers for uploading wage details online till 31st May, 2024.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.