EPFO Extends Last Day For Members To Apply For Higher Pension. Check Details

The updated link on the EPFO unified members' portal activated recently shows clearly that the last date for availing the option of higher pension is May 3, 2023

EPFO came out with guidelines to enable subscribers and their employers to jointly apply for higher pension under Employees' Pension Scheme

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The Employees Provident Fund Organisation (EPFO) has allowed certain eligible members to apply for higher pension under the Employees’ Pension Scheme (EPS) till May 3, 2023.

It is to be noted that Supreme Court in its judgement dated November 4, 2022, allowed four months to apply for a higher pension under EPS. Going by the apex court order, the last date to apply for a higher pension under EPS was March 3, 2023

The URL on the EPFO unified members' portal activated recently shows clearly that the last date for availing the option of higher pension is May 3, 2023. On February 20, EPFO came out with a procedure to enable subscribers and their employers to jointly apply for higher pension under Employees' Pension Scheme (EPS).

In November 2022, the Supreme Court upheld Employees' Pension (Amendment) Scheme 2014. The EPS amendment of August 22, 2014 raised the pensionable salary cap to Rs 15,000 a month from Rs 6,500 a month, and allowed members along with their employers to contribute 8.33 per cent of their actual salaries (if it exceeded the cap) towards EPS.

The extension of the deadline was important as eligible members looking to apply needed time to collect various required documents.  The EPFO issued guidelines on the matter for eligible employees just 12 days before the expiry of the Supreme Court-mandated deadline.

In an office order, EPFO had provided for dealing with the ''Joint Option Form'' by field offices of the body. The pension regulator also stated that "a facility will be provided for which URL (unique resource location) will be informed shortly. Once received, the regional PF commissioner shall put adequate notice on the notice board and banners for wider public information".

It provided that each application will be registered, digitally logged and the receipt number will be provided to the applicant. It further stated that the office in-charge of the regional provident fund office concerned shall examine each case of joint option on higher salary and intimate the decision to the applicant through e-mail/post and later through SMS also.

It also provided that any grievance by the applicant can be registered on EPFiGMS (grievance portal) after submission of his/her joint option form and payment of due contributions, if any.

The order stated that these directions are being issued in compliance with the order of Supreme Court on November 4, 2022. EPFO has asked its field offices to provide an option for higher pension to eligible subscribers in accordance with the Supreme Court order.