The Employees’ Provident Fund Organisation (EPFO) has issued a notice citing the eligibility criteria for higher pension in accordance with the Supreme Court order on November 4, 2022.
The EPFO also made it clear that fund authorities shall implement the Supreme Court ruling within a period of eight weeks, subject to the organization’s directions contained earlier in paragraph 11(3) of the 1995 scheme.
The notice issued by EPFO says, “The employees who have retired before 1st September 2014 upon exercising option under paragraph 11(3) of the 1995 scheme shall be covered by the provisions of paragraph 11(3) of the pension scheme as it stood prior to the amendment of 2014.”
Eligibility:
The notice has now made it clear that the following subscribers would be eligible for higher pensions after the Supreme Court ruling:
- The Employees Pension Scheme (EPS) members who as employees had contributed on salary exceeding the then prevalent wage ceiling of Rs.5,000 or Rs.6500
- EPFO subscribers with a joint option under the Employees Pension Scheme (EPS) of the pre-amendment scheme while being members of EPS-95
- EPFO members whose exercise of such an option was declined by the EPFO.
How to apply?
The eligible Employees Pension Scheme members need to visit the concerned regional EPFO office and submit the required application along with the proper documents. Below is the step-by-step guide:
- The request will be made with the authorities in such form and manner as may be specified by the commissioner
- The application form for validation which contains the disclaimer as ordered in the aforesaid government notification
- In case a subscriber needs to adjust his account from Provident Fund to Pension Fund, or re-deposit to the fund the explicit consent of the pensioner will be given in the application form
- An undertaking of the trustee shall be submitted, in case of transfer of funds from exempted provident fund trust to the pension fund of EPFO
