EPFO Higher Pension Scheme: Under the Employees Pension Scheme (EPS), a Higher Pension Scheme was launched to get more pension from EPFO at the time of retirement, under which the deadline for uploading wage details etc.

was December 31, 2023. Ministry of Labor & Employment said on Wednesday that this deadline has now been extended by five months. Employers have time till May 31, 2024 to upload the wage details of those employees who are applying for the scheme.

The deadline has been extended earlier also

Following the order of the Supreme Court on November 4, 2022, this scheme of Higher Pension was started on 26.02.2023, which was earlier only till 3.05.2023, however, in view of the demand of pensioners and members, Its deadline was pushed forward to 26.06.2023.

#EPFO extends five months time for Employers to upload wage details etc. regarding Pension on Higher Wages

🗓️Extension of time for the employers for uploading wage details online etc. is till 31st May, 2024

Read here: https://t.co/JQdImQvPLq@LabourMinistry

— PIB India (@PIB_India) January 3, 2024

Even after this it was extended for 15 more days i.e. till 11.07.2023. Till now, EPFO had received a total of 17.59 lakh applications from pensioners and members.

The deadline for uploading details was 31st December.

On behalf of employers and employers’ associations, EPFO was requested to give them additional time to upload the wage details of pensioners and members. Therefore, it was first pushed forward to September 30, 2023 and then to December 31, 2023.

Employers still have more than 3.6 lakh applications left to process. In view of this, EPFO has given extra time till May 31, 2024 to upload the wage details online.

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Pension News Update: There is important news for millions of pensioners. If you also want to get higher pension, then you have only time left for today. EPFO has issued a circular regarding this. Earlier, the last date to choose it was June 26, but later the government had extended it till July 11, that is, today is the last day for you to take advantage of it. After this, you will not be able to select the option of higher pension.

Many facilities are available from the government

Many types of facilities are provided to the job professionals and employees by the Central and State Government across the country. Now you are getting a chance to choose Higher Pension from EPFO. If you do not select this option today, then you will not be able to take advantage of it.

Who can apply?

If you want to increase the contribution in your EPS by taking advantage of the Higher Pension Scheme, then July 11 is the last date to apply for it. Let us tell you that if you have become a member of Employees Provident Fund Organization (EPFO) on September 1, 2014, then only you can apply for this scheme.

What is the advantage of higher pension?

If you also select the option of higher pension, then the amount you will get after retirement will decrease, but the amount of pension you will get every month will increase. Many experts believe that this pension scheme has both advantages and disadvantages. It is believed that if only a few years are left in your job, then you should focus on the lump sum amount. Apart from this, if there are still many years in the job, then you can select the option of higher pension.

How to apply for higher pension-

>> For higher pension, first of all one has to go to the e-seva portal.
>> After that click on Pension on Higher Salary.
>> Now you will reach the new page where you will see 2 options.
>> Those who retire before September 1, 2014 will have to choose the first option.
>> Apart from this, if you are still doing the job, then you have to select the second option.
>> Details like UAN, name, date of birth, Aadhaar, mobile have to be filled.
>> Now OTP will come on your Aadhaar linked mobile number, it has to be entered.

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This was stated in an official circular on Thursday. Earlier, in November last year, the Supreme Court had asked the government to give 4 months to EPF members to opt for higher pension. EPFO has provided online facility for members to fill joint operation form with employer to opt for higher pension option. The last date to fill this form was May 3, which has been extended to June 26, 2023.

Many things were not clear regarding the Higher Pension Scheme

However, there is no clarity on how the option of additional contribution will work and the mode of payment if the higher pension is opted for. The member is also not yet aware whether he will get the option to opt out of the higher pension scheme in case the higher amount is demanded.

Regional officers will determine the extra payment

It has been clarified in the circular that the regional officers will determine the extra payment. Whatever amount will be determined including interest, it will be given to the members who opt for more pension. It states that members and pensioners will be given up to three months to deposit money and give consent for transfer of funds.

Information will be given to the members who choose more pension

The Regional Officer of EPFO ​​will inform the pensioners or members about the need for payment of additional arrears for higher pension. Earlier this month, the labor ministry had clarified that an additional contribution of 1.16 per cent of the basic salary of members opting for the higher pension would be taken from the employer’s contribution to the EPFO-run social security scheme.

Government gives subsidy of 1.16% on basic salary of 15 thousand

At present, the government contributes 1.16 per cent as subsidy to the Employees’ Pension Scheme (EPS) on a basic salary limit of Rs 15,000. Employees contribute 12 per cent to the social security scheme of EPFO. At the same time, out of 12 percent contribution of the employer, 8.33 percent goes to EPS. While the remaining 3.67 percent goes to the Employees Provident Fund.

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Subscribers have time till May 3

The petition claimed that while opting for higher contribution, a copy of the prior permission has to be given, which is mandatory under the EPF Scheme, 1952. The petitioners argued that the EPFO ​​never insisted on giving such permission and was accepting higher contributions.

They said that they are not able to fill the said column in the online option form, and without giving the proof of prior consent, they will not be able to submit the online option successfully. If they do not do so before the deadline of May 3, they will be deprived of the benefits of the scheme. The Supreme Court has given time till May 3 to choose the option of higher pension.

What did the Kerala High Court say to EPFO?

The EPFO ​​opposed the plea, arguing that permission was a “vital requirement” for availing the benefit. After listening to everyone’s arguments, the High Court said that the petitioners should get interim relief. The court said, “The Supreme Court has fixed May 3, 2023 as the last date for submitting the options. Now EPFO ​​is insisting on proof of prior consent for furnishing the details of the option under Para 26(6) of the EPS Scheme. Also, in view of the specific nature of the online facility provided for this, they are being prevented in a way from submitting the application regarding the said option.

Asked to provide online and offline facilities

The judge said that if the petitioners were not allowed to submit their options before the last date, they would be forever deprived of the opportunity to claim the benefits under the award of the court. The court directed the EPFO ​​and the authorities under it to “make adequate provisions in the online facility so that the employee/pensioner can easily exercise the option as directed by the apex court without proof of consent.” It said that if In case the online facility cannot be suitably modified, other viable options including physical submission of applications may be provided.

It said that the above facilities shall be made available to all within a period of 10 days from the date of the High Court’s order dated April 12. be made available to employees and pensioners.

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