EPFO Update: EPFO has not yet removed the controversial rule related to higher pension, huge confusion among members
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Meanwhile, EPFO has issued a circular to its field officers. It states how the submitted applications are to be scrutinized. If there is any deficiency from the side of the employee or the employer then how it can be removed. HR experts have welcomed this circular. But he says that many things are not clear in this circular. For example, if the applicant submits the application through the Unified Portal, then how much time will the employer get to give him the information related to salary. There is no clarity in this regard in any of the EPFO circulars.
what is the confusion about
Due to confusion on these issues, the subscribers are in a dilemma as to whether they should opt for higher pension or not. EPFO says that the dues will be calculated only if the information given by the employer in the joint application matches with the data of EPFO. Only after this, an order will be issued regarding depositing the balance or transferring it. If there is a mismatch between the EPFO’s data and the data provided by the employee and employer, one month’s time will be given to rectify it. EPFO has opened an online portal for applications for employees who retired before September 1, 2014 and were entitled to higher pension under EPS.
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