Employees Provident Fund Organization ie Employee Provident Fund Organization or EPFO (EPFO) has started a special facility for higher pension. Pensioners eligible for higher pension can now apply online under joint option on EPFO member portal.
For higher pension, employees who have retired before September 1, 2014 and have subscribed to the erstwhile pension scheme under the joint option, can login to the UAN portal under this special facility of EPFO. Eligible employees can apply their application online by visiting this portal.
These employees will be able to fill online application
On December 29, 2022, EPFO had issued a circular related to the implementation of the decision of the Supreme Court of November for employees eligible for higher pension. In the circular issued, the EPFO said that pensioners who had deposited salary in excess of the then wage limit of Rs 5,000 or Rs 6,500 as employees.
Employees who had opted for joint option under EPS with pre-revised scheme while being a member of Employees’ Pension Scheme. Employees who were rejected from EPFO for enhanced pension coverage. On the basis of the issued circular, now they will get the benefit of higher pension. All those eligible employees will be able to apply online application on EPFO’s website.
8.33% of salary tax scheme has been deposited for higher pension
In November 2022, the Supreme Court in its judgment upheld the Employees’ Pension Scheme Amendment of 2014, giving EPFO subscribers another chance to opt for higher pension payouts. Employees who were members of EPS on September 1, 2014, all those subscribers were allowed to deposit a maximum of 8.33 per cent of the ‘actual’ salary in the erstwhile Employee Pension Scheme EPS for pension. Under the relevant order of the Supreme Court, EPS members were given 6 months to choose the revised plan.