Higher EPS pension: How much do you have to pay to get it? New EPFO circular clarifies method Once the requirements are complete and the wage details submitted by the employers, then it will be verified with the data available with the EPFO
The Employees' Provident Fund Organisation issued a circular regarding certain issues employees/pensioners were facing while applying for higher pension from Employees Pension Scheme (EPS). The circular issued by the EPFO clarifies on three issues: A) what will happen once the joint application form is submitted, B) what if there is an error in the joint application form and C) what if an employer has not approved the joint application form? The circular has been issued by the EPFO on April 23, 2023.Here is a look at what each of the issue and how circular helps an employee/pensioner.
What will happen once joint application form for higher pension is submitted?
As per the circular, once the joint application form is submitted, the EPFO field offices will be examined by the EPFO field offices. Once the requirements are complete and the wage details submitted by the employers, then it will be verified with the data available with the EPFO. Once the data is verified, the EPFO will calculate the dues and an order will be passed for depositing/transferring of dues.
What will happen if there is a mismatch in the data
It may happen that there is a mismatch in the data available with the EPFO and information submitted by the employer and employee. The circular has clarified that in case there is a mismatch, the same will be informed to the employer and the employee/pensioner by the EPFO. They will be given one month to provide the correct information.
What if the joint application form is not approved by the employer
It may happen that the joint application form is not approved by the employer. The circular states that before any rejection, an opportunity will be given to the employer for providing additional proof or evidence or correcting any mistakes/errors (including those made by the employees/pensioners). Such opportunity will be for a period of one month and intimation will be given to the employees and pensioners.
In cases where the submitted information is not complete or seems erroneous or any information in the application form needs correction, then EPFO will seek information from the employers within one month. If the above information is received, then the joint application form will be accepted by the EPFO. The order will be issued regarding transferring/depositing dues. If the complete information is not received within one month, the EPFO will pass an order on merit.
If there is any grievance of an employee or pensioner, then the same can be registered on the EPFiGMS after submission of his request form and payment of due contribution, if any. The registration of such grievance shall be under the specified category of higher pension with reference to the Supreme Court judgement dated November 4, 2022. All grievances shall be addressed and disposed of at the level of the Nominated Officer. Grievances will be monitored by the officer in-charge of the Regional and Zonal Office.
The EPFO provided an online facility will May 3, 2023 (from the earlier deadline of March 3, 2023) to submit the joint application form to receive a higher pension from EPS.
An employee is eligible to receive the higher pension from EPS if:
If an employee was making a higher contribution to EPS and retired prior to September1, 2014If an employee was a member of EPF/EPF as on September 1, 2014, and missed the opportunity to apply for higher pension.
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This story originally appeared on: India Times - Author:Faqs of Insurances
