Comments
Employees’ Provident Fund Organisation (EPFO) has set May 3, 2023, as the deadline for individuals to apply for higher pensions under the EPS.
According to the EPFO circular issued on April 23, 2023, applications and joint options for higher pensions will be examined by the field office. Then, the wage details submitted by the employers will be examined and verified with the data available with the field offices.
- Also read: How to view EPF passbook using UMANG app
Who are eligible for higher pensions?
According to the Employees’ Pension Scheme rules, an individual is eligible for a pension from EPS if they have completed ten years of service.
- Employees who were members of EPS before September 1, 2014, and continued to be a member on or after that date; and
- Employees and employers who had contributed on salary exceeding the standard wage ceiling of ₹5,000 or ₹6,500.
- Also read: How to find your EPF UAN?
Who are not eligible?
Employees with a basic salary exceeding ₹15,000 are restricted from joining the EPS.
Also, if an employee retired before September 1, 2014, and did not exercise the option to opt for higher pension contributions, such an employee will not be eligible to opt for higher pension contributions now.
Eligible employees will have to submit an application in the prescribed format by accessing the EPFO’s UAN Member e-SEWA portal. Know how
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.