EPFO: The date for submitting details of salary and allowances of these employees has been extended
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epfo pension
There is good news for thousands of employees and pensioners. Their deadline has been extended. Its notification was issued by the ministry. The ministry said that the employees had demanded this.
After which the time has been extended for their convenience. Now this process will have to be completed by December. There is good news for thousands of employees and pensioners. Their deadline has been extended. Its notification was issued by the ministry. The ministry said that the employees had demanded this. After which the time has been extended for their convenience. Now this process will have to be completed by December.
EPFO has given great relief to the employees. The date for submission of salary and allowances details of employees opting for higher pension has been extended. Now employees and pensioners will be able to submit salary and allowances details till 31st December.
Facility to choose higher pension option
The Employees Provident Fund Organization had given the facility to employers to choose the option of higher pension. The last date for submission of salary and allowances details of employees has been extended by 3 months. Earlier the deadline for submitting the details was ending on September 30, whereas now the employees will get 3 more months to submit the details of salary and allowances. After the order of the Supreme Court, employees were given the option to choose higher pension.
Appeal to extend the deadline
The Labor Ministry statement said employers and employer associations had appealed to extend the deadline for uploading salary details of members, including applicant pensioners. After which the ministry has accepted their demands. As of September 29, 5.52 lakh applications for verification of salary and allowances are pending with the appointing authority. The ministry says that after considering the request, the EPFO Board Chairman has extended the deadline for submission of salary details etc. till December 31.
Earlier, the Supreme Court had said in its order on November 4, 2022 that EPFO will have to give 4 months time to all its eligible members to opt for higher pension. The 4-month period ended on 3 March. Since then this time limit is being extended.
This provision was first added in Section 11(3) of EPS-95 in March 1996. In which members were allowed to increase their pension contribution up to 8.33% of their full salary (Pay-DA). If they were given a chance for higher pension. However, only 6 months time was given for filing the Joint Option Form. Due to which the employees reached the Supreme Court.
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