homepersonal finance NewsEPFO issues guidelines on high pension — Who is eligible and how to apply?

EPFO issues guidelines on high pension — Who is eligible and how to apply?

EPFO laid down the terms and conditions for a subscriber to get higher pension. Read this to understand more

Profile image

By Anshul  Dec 30, 2022 5:55:17 PM IST (Published)

Listen to the Article(6 Minutes)
4 Min Read
EPFO issues guidelines on high pension — Who is eligible and how to apply?
The Employees' Provident Fund Organisation (EPFO) has recently issued a clarification in regard to eligibility criteria for higher pension. The Provident Fund (PF) regulator issued circular in compliance to the Supreme Court order laying down the the eligibility conditions for employees to get higher pension and how they can apply for it online. The EPFO also mentioned that fund authorities shall implement the Supreme Court ruling within a period of eight weeks.

Live TV

Loading...

Who are eligible for higher pension?
According to EPFO, these subscribers are eligible to receive higher pension:
  • Members, who, as employees, contributed on salary exceeding the-then wage ceiling of Rs 5,000 or Rs 6,000.
  • Members who exercised the joint option under the Employees' Pension Scheme (EPS) of the pre-amendment scheme, while being members of EPS-95.
  • Those whose exercise of such an option was rejected by EPFO.
  • How eligible pensioners can apply for higher pension?
    The eligible pensioners are required to visit their concerned regional EPFO office along with a duly-filled-in application form and specified documents to apply for a higher pension. The process of applying for a higher pension at the regional EPFO office is as follows:
    • The request will be made in such form and manner as may be specified by the commissioner.
    • The application form for validation will contain the disclaimer as ordered in the aforesaid government notification.
    • In case of share requiring adjustment from provident fund to pension fund and if any, re-deposit to the fund, the explicit consent of the pensioner will be given in the application form.
    • In case of transfer of funds from exempted provident fund trust to pension fund of EPFO, an undertaking of the trustee shall be submitted. The undertaking shall be to the effect that due contribution along with interest-up to the date of payment, will be deposited within the specified period; and
    •  The method of deposit of such funds will follow through subsequent circulars.
    • What documents will be required to apply for higher pension?
      A pensioner is required to submit the following documents for evidence and further processing:
      • Proof of joint option under Para 26(6) of the EPF scheme duly verified by the employer; and
      • Proof of joint option under the proviso to erstwhile Para 11(3) duly verified by the employer; and
      • Proof of remittance in provident fund account on higher wages exceeding the prevalent wage ceiling of Rs 5,000/Rs 6,500; and
      • Proof of remittance in pension fund on higher wages exceeding the prevalent wage ceiling of Rs 5,000/Rs 6,500, if any,
      • Written refusal of APFC or any other higher authority of EPFO to such request/remittance.
      • What will happen once the application form is submitted?
        According to the circular, once the eligible pensioner submits the application form, the EPFO authority i.e., the Regional PF commissioner will deal with it as follows:
        • Each application will be registered and digitally logged. The receipt number will be provided to the applicant.
        • The application will land into employer’s login whose verification with e-sign will be essential for further process.
        • RPFC will cause each application to be converted into e-file, as far as, possible.
        • The concerned dealing assistant will examine the papers including the note on receipt of due amount in the pension fund, and mark the case to the section supervisor/account officer.
        • The concerned SS/AO will mark out any discrepancies and send it with the rule position to AFPC/RPFC-II who after due examination will put the case to Officer-in charge of Regional Office.
        • The Officer in-charge shall examine each case of pension on higher salary and dispose it by passing a speaking order that shall be intimated to the applicant through e-mail/post. Efforts will be made to intimate them through telephone/SMS.
        • Most Read

          Share Market Live

          View All
          Top GainersTop Losers
          CurrencyCommodities
          CurrencyPriceChange%Change