The Employees’ Provident Fund Organization (EPFO) on Monday started the process of applying for higher pension under the Employees’ Pension Scheme (EPS).
The body managing the retirement fund said that members and their employers would be able to apply jointly for this. In November 2022, the Supreme Court upheld the Employees’ Pension (Amendment) Scheme, 2014.
Earlier, the EPS revision of August 22, 2014 raised the pensionable salary limit from Rs 6,500 per month to Rs 15,000 per month. Also, the members and their employers were allowed to contribute 8.33 per cent of their actual salary to the EPS.EPFO in an office order has given details about handling of ‘Combined Option Form’ by its field offices.
EPFO said that ‘a facility will be given, for which the URL (Unique Resource Location) will be told soon. After receiving this, the Regional PF Commissioner will give information through notice boards and banners for wide public information. “According to the order, every application will be registered, logged digitally and a receipt number will be given to the applicant.
It further added that the Officer-in-Charge of the Regional Provident Fund Office concerned will examine each case of joint option on higher pay. There after, the applicant will be informed about the decision through e-mail/post and later through SMS. It has been said in the order that these instructions are being issued in compliance of the order dated November 4, 2022 of the Supreme Court.