One of the World’s largest Social Security Organisations, Employees’ Provident Fund Organisation (EPFO) has issued an updated set of FAQs (Revised) Frequently Asked Questions (FAQs) for the field offices for Implementation of the Judgment of the Hon’ble Supreme Court dated 04.11.2022.
EPFO circular is currently issued saying, “Frequently Asked Questions (FAQS) for Implementation of Judgment of Hon’ble Supreme Court dated 04.11.2022 have been updated for ready reference of the Zonal and Field Offices.”
“It is requested to kindly go through the updated FAQS at Annexure I and refer to the same while resolving queries of members/pensioners on the implementation of Hon’ble Supreme Court dated 04.11.2022″, it added.
The circular has raised the answer including that the arrears of pension will be paid to the pensioners by the existing process to comply with income tax provisions relating to TDS.
In case a member will be retiring in the future (say for example 2030). Moreover, The pension will be calculated based on the provisions of EPS, 1995 that will exist as of the date of commencement of the pension.
Moreover, Since the date of commencement of the pension is on or after 01.09.2014, the member pensionable salary shall be calculated based on the average monthly pay drawn during the contributory period of service in 60 months preceding the date of exit from the membership of the pension fund.
The pension calculation will be as per para 12 of EPS 95. The date of commencement of pension will determine the applicable formula for the calculation of pensionable service, pensionable salary, and pension.
The circular has covered Frequently Asked Questions (FAQs) for the field offices for Implementation of Judgment of Hon’ble Supreme Court dated 04.11.2022 Click here for FQA Circular.
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