EPFO: Pensioners of the Employees’ Provident Fund Organization (EPFO) may be in for a shock. EPFO has come up with a circular, under which pensioners getting more pension may be upset.
EPFO is reviewing the higher pension of the members who retired before September 1, 2014. In fact, the members who did not choose the option of higher pension are still getting higher pension. Now EPFO can cut the pension of such members who get more pension. Excess pension will also be recovered from the members.
Such cases will be re-examined
EPFO in its January 25 circular said that the cases of retired employees who did not opt for higher pension before September 1, 2014 would be reviewed. Those cases will be investigated which are being given more pension. He will not get pension beyond January 2023. In such a case the pension will be restored again. There will be a limit of Rs 5,000 or Rs 6,500 on this. According to the guidelines of EPFO, the employees will now have to deposit money equal to 8.33 percent of their basic salary in EPS. Its maximum limit will be Rs 15,000 per month.
These people will get less pension
The pensioners who did not choose the option of higher pension but even after that they were getting higher pension. Such members will now get less pension. However, before examining such cases, the department will send notices to those members. So that he can prove his case. For reduction of pension also notice will be given to the pensioners first.
There will be recovery of more pension
If someone has lost more pension, then recovery will also be done from that. Pension will be recovered through EPFO method. Pension will be checked first. After complete calculation, if the excess amount has been given, then its recovery will be started.