All those who are members of the Employees Provident Fund Organisation (EPFO) need to take note that the EPFO deadline for applying for a higher pension has been extended, and the eligible members of the same can now apply for it online.
On Monday, EPFO announced that all the eligible members of the provident fund body can now opt and apply jointly with their employers for higher pensions till May 3, 2023. Earlier, the deadline for the application for a higher pension was speculated to be March 3, 2023.
It was speculated that the window for applying for a higher pension by EPFO will close on March 3 because a Supreme Court order had mandated the Employees’ Provident Fund Organisation to provide four months to all eligible members to opt for a higher pension on November 4.
According to the URL which has been activated on the EPFO platform, the deadline for opting for a higher pension has now been extended till May 3, and the window for the same will close after two months.
EPFO higher pension scheme: Eligibility criteria
- Employees and employers who had contributed on salary exceeding the wage ceiling of Rs 5,000 or Rs 6,500
- Employees and employers who did not exercise the joint option in the previous window while being EPS members
- Employees who were members before September 1, 2014, and continued to be a member on or after that date
It must be noted that all those who fall under this eligibility criteria must apply for the EPFO higher pension scheme jointly with their employers, and submit a joint declaration. EPS members will also get a chance to contribute up to 8.33 percent of their basic salary.
The notification issued by EPFO states, “Undertaking shall be to the effect that due contribution along with interest up to the date of payment, will be deposited within the specified period.”
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