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Latest News On EPFO Higher Pension Scheme
The Employees’ Pension Scheme (EPS) is a pension scheme for members of the Employees’ Provident Fund Organisation (EPFO) in India. The scheme allows employees to opt for a higher pension linked to their actual salaries. The deadline to apply for higher pension under the EPFO scheme is July 11, 2023.
Here are some key details about the EPS higher pension scheme:
- Eligibility: Employees who were members of the EPF and EPS on September 1, 2014, and remained so after the said date are eligible for the EPS higher pension scheme.
- Formula for calculating higher pension: The formula for calculating the monthly pension amount is (Pensionable salary X pensionable service)/70.
- How to apply: Employees seeking to apply for a higher pension must visit the EPFO Unified Member portal and click on the option ‘Pension on Higher’.
- Deadline: The deadline to apply for the EPS higher pension scheme has been extended several times, most recently to July 11, 2023.
It is important to note that in November 2022, the Supreme Court of India allowed employees who were part of the EPFO before September 1, 2014, and had been in service after the said date but could not avail the joint option under the EPS, to do so within four months of the order.
Also Read: How to apply for higher pension under the EPS?: Step-by-step Guide
Data | Value |
---|---|
Scheme name | EPFO higher pension scheme |
Eligibility | Employees who were part of the EPFO before or on September 1, 2014, and who contributed to the provident fund on actual salary (i.e., over and above the statutory limit of salary for coverage under the EPF), are eligible to claim for higher pension. |
Deadline to apply | July 11, 2023 |
Formula for calculating monthly pension amount | (Pensionable salary X pensionable service)/70 |
Link to application form | https://unifiedportal-mem.epfindia.gov.in/memberInterfacePohw/ |
Technical snags in the EPFO portal | Yes, applicants and employers are facing technical snags in the EPFO portal as the deadline to register for higher pension approaches. |
What is the EPFO higher pension scheme?
The EPFO higher pension scheme is a pension scheme for members of the Employees’ Provident Fund Organisation (EPFO) in India. It allows employees to opt for a higher pension linked to their actual salaries. The formula for calculating the monthly pension amount is (Pensionable salary X pensionable service)/70. Employees who were members of the EPF and EPS on September 1, 2014, and remained so after the said date are eligible for the EPS higher pension scheme. Employees seeking to apply for a higher pension must visit the EPFO Unified Member portal and click on the option ‘Pension on Higher’. The deadline to apply for the EPS higher pension scheme has been extended several times, most recently to July 11, 2023.
epfo higher pension link
Here is the link to the EPFO higher pension application form: https://unifiedportal-mem.epfindia.gov.in/memberInterfacePohw/.
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FAQS
Who is eligible for higher pension under the EPFO scheme?
Employees who were part of the EPFO before or on September 1, 2014, and who contributed to the provident fund on actual salary (i.e., over and above the statutory limit of salary for coverage under the EPF), are eligible to claim for higher pension.
What is the deadline to apply for higher pension under the EPFO scheme?
The deadline to apply for higher pension under the EPFO scheme is July 11, 2023.
What are the technical snags that applicants and employers are facing in the EPFO portal?
Applicants and employers are facing technical snags in the EPFO portal, such as the portal crashing, the application form not loading properly, and the application form not being submitted. These snags are causing delays in the application process and are frustrating applicants and employers.
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