This news will make you pleased if you work and Employee Provident Fund (EPF) deductions are made from your pay each month. The government has extended the date of the pension if you also wish to receive a larger pension than before. Regarding this, the government has provided a fresh update. The convenience of the staff has been taken into consideration when making this decision. The EPFO has extended the application deadline for enhanced pensions until June 26.
EPFO update – Will have until June 26 to apply.
The deadline, which was set to finish on May 3, has been extended until June 26, 2023, according to a statement from EPFO. Following EPFO’s decision, qualified employees can now apply online until June 26 in order to receive a higher pension. In response to the Supreme Court’s decision on pensions on November 4, 2022, EPFO has urged current shareholders and retired personnel to submit online applications by May 3, 2023.
Additionally, some restrictions on higher pensions were kept.
In a significant ruling, the court mandated that EPFO provide current and previous contributors with the option of choosing a greater pension. In order to choose a larger pension, EPFO also set down several requirements. Numerous employee organization representatives had asked the EPFO to extend the deadline. In light of this, it has been agreed to extend the deadline for online higher pension applications until June 26.
Can be used both ways
According to EPFO, the deadline has been extended after taking into account the requests made by employees, employers, and their organisations. Pensioners and current stockholders will have enough time to apply for this. Adhik Pension Yojana applications are accepted both online and offline by EPFO.
EPFO – How to submit a pension application
Employees must visit the closest EPFO office to take advantage of the program. You will need to fill out the application and submit the required paperwork there. You could also submit an online application. Currently, there is a limit of Rs 15,000 per month for EPS contributions. Your EPS contribution is Rs 1,250 based on a salary of Rs 15,000 even though your basic pay is Rs 50,000.
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