EPFO Pension Scheme: According to the recent press release by EPFO, the deadline for applying for a higher EPFO Pension Scheme has been extended from 26 June 2023 to July 11, 2023. This extension gives employees one last chance to submit their joint application form for an increased pension from EPS. To qualify for the higher pension based on their wages, employees must ensure that the application form is submitted within 15 days. Additionally, the press release states that employers have been given a three-month window to upload wage details online.
Here are the steps on how to apply for a higher EPFO Pension Scheme:
The EPFO will digitally register your application and provide you with a receipt number. The application will then be forwarded to your employer for verification. Once your employer has verified your application, the EPFO will process it and you will be notified of the decision.
Here are some of the documents that you may need to apply for a higher EPFO pension:
The deadline to apply for a higher EPFO Pension Scheme was June 26, 2023. However, there are some exceptions to this deadline. For example, employees who retired before June 26, 2023, but had not yet applied for a higher pension, can still apply. Additionally, employees who were unable to apply for a higher pension due to extenuating circumstances can also apply after the deadline.
The following are eligible to apply for a higher EPFO Pension Scheme:
Additionally, employees who were unable to apply for a higher pension due to extenuating circumstances can also apply after the deadline. To apply for a higher EPFO Pension, you will need to fill out a joint option form with your employer. The form can be found on the EPFO website. Once you have filled out the form, you will need to submit it to your regional EPFO office. The amount of your higher pension will be calculated based on your salary and the number of years you have contributed to the EPS.
The maximum pensionable salary for the higher pension scheme is ₹21,000 per month. If you are eligible for a higher EPS pension, I recommend that you apply as soon as possible. This will ensure that you receive the maximum pension possible. Here are some additional things to keep in mind about the higher EPS pension scheme:
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The EPFO will calculate the monthly EPS amount of 8.33% of the actual salary and transfer the difference amount from the EPF to the EPS.
The deadline for applying for a higher EPFO Pension Scheme has been extended from 26 June 2023 to July 11, 2023.
Candidates can check the steps given in the above article.
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