Today is the last day to apply for higher EPS pension Once this deadline expires, then an individual will not be able to submit online application form for higher pension. The EPFO in its press release dated June 26, 2023 said that this is a last opportunity to apply for higher EPS pension
Today — July 11, 2023 — is the last day to apply for the higher pension under the Employees’ Pension Scheme (EPS). If you still have not submitted your joint application form for the higher pension, ensure that you submit it before the deadline. The Employees’ Provident Fund Organisation (EPFO) will not accept the online joint application form after this date (unless the last date is extended again).Do note that this deadline has already been extended thrice by the EPFO since the Supreme Court set a deadline of March 3 in its judgment dated November 4, 2022.
The judgment had clarified that only certain eligible employees can apply for the higher EPS pension. According to experts, EPS-95 family pensioners cannot apply for the higher pension.
Here is how an employee can determine the eligibility criteria for applying and go about the process:
Eligibility criteria to apply for higher EPS pension
Only certain employees are eligible to apply for the higher pension under EPS. One group is made up of employees who had retired before September 1, 2014, and were making actual wage contributions, but their higher pension applications were rejected by the EPFO. The other group is of employees who were working before September 1, 2014, and continued to remain working after that but missed the opportunity to apply for higher pension. Employees who were working on September 1, 2014, and retired after that are also eligible to apply for the higher EPS pension.
Also Read: Who is eligible and who is not eligible to apply for higher pension from EPS?
On which website to apply
The EPFO has activated an online link on the Member Sewa portal. An employee can visit the portal to submit a joint application pension form. Do note that you should keep the relevant documents handy in the PDF format to make the application process smoother.
Documents that are required
An individual applying for higher EPS pension must keep the Universal Account Number (UAN) for existing employees or Pension Payment Order (PPO) number for pensioners handy. Apart from that, an individual is required to submit the EPF statement showing the latest balance, among others.
Also Read: Documents you need to apply for higher pension
The EPFO has eased the process of applying for the higher pension by allowing eligible employees to submit other specified documents if they do not have the proof required under Para 26(6).
Also Read: 3 documents you need to apply for higher pension
How to apply for higher EPS pension before deadline expires
As mentioned above, an individual is required to submit an online joint application form on the Member Sewa portal. Do note that your Aadhaar number must be linked to the mobile number linked to the UAN to be able to open the application form.
Also Read: How to apply for higher pension on EPFO online portal
The EPFO has set a deadline of 20 days for its field office to validate the joint application form.
Also Read: EPFO sets 20 days deadline for field offices for validation of application form
As there will be a shortfall in the money required in the EPS account because of missing past contributions, an individual will be required to pay extra to make up for the missing contributions on actual salary, along with the interest accrued thereon. The EPFO has released an excel utility allowing an individual to calculate an estimated figure they would have to pay after applying for the higher EPS pension.
Also Read: How to use EPFO calculator for higher EPS pension
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This story originally appeared on: India Times - Author:Faqs of Insurances
