Employees who are members of the EPS-95 and are in service/retired after 2014 can opt for a higher pension by filing a joint option application with the regional PF commissioner before 11/07/2023.
- Recently EPFO has further extended the deadline for employees to submit applications by July 11, 2023 to get pensions on higher wages.
- Employers are given three months’ time for uploading wage details online, till September 30, 2023.
Online facility has been made available by EPFO for submitting Applications for Validation of Option /Joint Options for pension on higher wages. The facility is for eligible pensioners/members in compliance with the Hon’ble Supreme Court order dated 04.11.2022.
The facility was launched on 26.02.2023 and was to remain available only till 03.05.2023. However, considering the representations of the employees, the time limit was extended to 26.06.2023 in order to provide complete four months time to eligible pensioners/members for filing applications. 16.06 lakh Applications for Validation of Option / Joint Options have been received till 26.06.2023.
The last opportunity of 15 days is being given to remove any difficulty faced by the eligible pensioners/ members. Accordingly, the last date for submission of Applications for Validation of Option / Joint Options by employees is extended to 11.07.2023.
Any eligible pensioner/member who on account of any issue in updation of KYC, faces difficulty in submitting online Application for Validation of Option / Joint Option, may immediately lodge such grievance on EPFiGMS for resolution.
The grievance may please be submitted by selecting the grievance category of ‘ Higher Pensionary benefits on higher wages’. This will ensure a proper record of such a grievance for further action.
Meanwhile, many representations have been received from Employers & Employers’ Associations wherein requests have been made to extend the time period for uploading wage details of applicant pensioners/members.
The request has been considered sympathetically and the employers are being given a further period of three months to submit wage details etc. online latest by 30.09.2023.
Employees’ Provident Fund Organisation (EPFO) issued a circular on June 14, 2023 aiming to clarify the list of documents to be submitted for claiming higher EPS-95 & pension computation method.
The circular also elaborates on what all documents one can submit if one is not able to furnish a joint request under para 26(6) of the EPS-95 scheme.
Circular 1 on the pension computation method
- Who retired before 01.09.2014: The pension calculation will be based on the average monthly pay drawn during the contributory period of service during the 12 months preceding the date of retirement i.e. date of exit from the membership of the pension fund.
- Who retired on or after 01.09.2014: The pension calculation will be based on the average salary during a contributory period of service in the span of 60 months preceding the date of retirement. Click here to Read Circular
Circular 2 on the list of documents to be submitted
According to the recent circular issued on June 14, 2023 “Whereas a situation has arisen where joint request/ undertaking/ permission under Para 26(6) are not readily available with most of the applicants who have filed Applications for Validation of Option / Joint Options covered under Hon’ble Supreme Court judgment dated 04.11.2022.”
Accordingly, only in case of applicants otherwise eligible for pension on higher wages as per the directions of the Hon’ble Supreme Court judgment dated 04.11.2022, for scrutiny regarding Para 26(6), the following procedure may be followed:
Field Offices will verify that
a) Employer share of PF contribution has been remitted on employee’s pay exceeding the prevalent statutory wage ceiling of Rs 5,000/6,500/15,000 per month from the day the pay exceeded the wage ceiling or 16.11.95 whichever is later, till date/ till the date of retirement or superannuation as the case may be; and
b) Administrative charges payable by employer have been remitted on such higher wages; and
c) Provident Fund account of employee has been updated with interest as per Para 60 of EPFS,1952 on the basis of such contribution received; and
d) Any of the following documents have been submitted along with Applications for Validation of Option / Joint Options as proof of joint option and permission under Para 26(6).
- Wage Details submitted by the employer along with Applications for Validation of Option / Joint Options
- Any salary slip/letter from the employer authenticated by the employer
- Copy of joint request and undertaking from the employer
- Letter from PF office issued prior to 04.11.2022 indicating PF contribution on higher wages
To know more details on the circular click here.
