EPFO Alert: There is good news for the subscribers of Employees’ Provident Fund Organization (EPFO). EPFO has given relief to the pensioners. Under this, EPFO subscribers will be able to jointly apply for higher pension by May 3, 2023, with their employers. They will have to apply for this on the Integrated Portal of the Retirement Fund Organization. Earlier it was reported that March 3, 2023 is the last date for opting for higher pension. But the recently activated URL on the Integrated Member Portal of EPFO clearly shows that the last date for opting for higher pension is May 3, 2023.
Earlier, the Supreme Court had said in its order on November 4, 2022 that EPFO will have to give four months time to all eligible members to choose the option of higher pension. This four-month period ends on March 3, 2023. Because of this news was coming that its deadline is March 3, 2023.
Last week EPFO released the details of its process. It was told that the subscribers and their employers can jointly apply for higher pension under the Employees’ Pension Scheme (EPS).
In November 2022, the Supreme Court upheld the Employee Pension Scheme, 2014. Earlier, on August 22, 2014, the EPS had increased the pensionable salary limit from Rs 6,500 per month to Rs 15,000 per month. Along with this, members and their employers were allowed to contribute 8.33 percent of their actual salary to the EPS.
EPFO has issued a circular in this regard to its field offices. EPFO had said that such a facility will be provided so that the information about the unique resource location ie URL will be given soon. After this, the Regional PF Commissioner will put a proper notice and banner on the notice board so that it can be informed publicly.
Under this, each application will be registered and recorded digitally and will be given a receipt number. The in-charge of the Regional Provident Fund Office will review each joint option case. After this the applicant will be informed about the decision by e-mail/post and later through SMS.