EPFO: You can apply for higher pension till May 3, know why there is demand to extend the date
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EPFO Higher Pension: If you also want to get higher pension after retirement, then you can apply till May 3, 2023. After selecting this option, the pension of EFFO subscribers will increase. However, there is still no clarity regarding the process to be followed by PF authorities to transfer funds from PF Fund to Pension Fund.
Know why there is confusion
There is still a lot of confusion among the people from the process of higher pension to the documents. This is the reason why people are facing problem in choosing the option of higher pension. In view of this, now a demand is being made to extend the deadline for higher pension. Let us tell that there is still no clarity from the Employees’ Provident Fund Organization as to how the pension will be calculated. At the same time, there is no clarity regarding the process to be followed by the authorities to transfer the amount from PF Fund to Pension Fund. Not only this, the situation is not clear regarding the calculation of the amount to be transferred from PF fund to pension fund. In such a situation, there is confusion among those who choose it.
Trade unions demanded extension of deadline
Amidst all this, several federations and trade unions have demanded a review of the May 3 deadline. Central trade unions as well as retired associations have now demanded an extension of the due date citing problems in filling the joint option form including mandatory online filing and submission. However, EPFO had already extended the deadline by two months and is unlikely to extend it further. In a letter written to Union Labor and Employment Minister Bhupendra Yadav, 10 central trade unions have demanded extension of the deadline by 6 months. The requirement to apply online is discriminatory and prevents a large section of employees from exercising their option, especially those who are not familiar with online procedures, he said in the letter.
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