EPFO New Pension Rules: The Employees’ Provident Fund Organization on Thursday issued a circular to EPF contributors to comply with the Supreme Court’s directive on higher pension for eligible employees. EPFO circular clarifies eligibility conditions for employees to get higher pension and how they can apply for it online.
This EPFO (Employees’ Provident Fund Organisation) has also clarified how to apply for higher pension after the Supreme Court order! EPFO said on pension that the Fund Authority will implement the decision of the Supreme Court within a period of eight weeks subject to the instructions given to EPFO in para 11(3) of the 1995 scheme.
Who is eligible to get higher pension
- As per the circular of EPFO (Employees’ Provident Fund Organisation), only those employees are eligible who have compulsorily contributed higher salary under the Employees’ Provident Fund (EPF) scheme and have contributed towards higher pension before their retirement. Option exercised!
- Employees retiring before 1st September 2014 on exercise of option under para 11(3) of the 1995 Scheme will be covered under the provisions of para 11(3) of the Pension Scheme as amended in 2014 was before It has been said in the circular.
- EPS members who, as employees, drew the then prevailing pay limit of Rs. 5,000 or Rs. Contributed over 6,500 salaries!
- EPFO members who, while being a member of EPS-95, exercised the joint option under the Employees Pension Scheme of the pre-revised scheme!
- EPFO members whose exercise of such option was denied by EPFO.
How to apply for higher pension
- EPFO (Employees’ Provident Fund Organisation) members will have to submit the required application along with proper documents by visiting the concerned regional EPFO office.
- The application shall be made in such form and manner as may be specified by the Commissioner.
- The application for verification shall necessarily contain the disclaimer in the aforesaid Government notification.
- In case of share requiring adjustment from provident fund to pension fund, the pensioner’s explicit consent will be given in the application form.
- For transfer of money from Exempted Provident Fund Trust to Pension Fund of EPFO, an undertaking of the trustee has to be submitted.
- The procedure for depositing such amount will be followed through subsequent circulars.
Webinar is organized
Let us tell you that it is generally seen that after the retirement of the employee, he has to face a lot of difficulties in getting the PPO number to get the pension. In such a situation, through this webinar of EPFO, the retiring employee will be helped in guidance and training. Through ‘Uninterrupted Service’, Employees’ Provident Fund Organization tries to resolve pension related complaints as soon as possible!
