EPFO – Important news for PF account holders. In fact, EPFO has issued a circular regarding the difficulties faced by the members while applying for higher pension. For which you can finish all your work till 3rd day.
A circular has been issued by the Employees’ Provident Fund Organization (EPFO) regarding the difficulties faced by the members while applying for higher pension. In this circular, complete information has been given that how you have to apply for more pension. What to do if the application is rejected or if there is a mistake in filling the form?
Who can apply?
Organized sector employees whose basic salary plus DA is less than Rs 15,000 and have been a member of EPF on or before September 1, 2014, can apply for it.
What will happen if the form is filled wrongly?
If you have wrongly filled the excess pension form in EFPO and the information does not match during verification, then EPFO gives you one more chance. You have to give the correct information again within a month.
What to do if application is rejected?
If your application for getting more pension from EPFO has been rejected then there is no need to worry at all. After finding out the reason for this, you can submit it again within a month. EPFO itself can also take your information from your employer. After this your application will be accepted.
What will happen on joint application?
If you make a joint application for higher pension in EPFO. The information given by you will be matched with the information available on the online portal of EPFO after verifying it at the local EPFO. After checking your existing balance, your application for getting more pension will be accepted.
What will be the effect of opting for higher pension?
At present, if someone’s salary is Rs 15,000 or less, then out of 12 per cent contribution given by the employer, 8.33 per cent is deposited in Pension Fund and 3.67 per cent in PF. After opting for higher pension, the employer’s contribution to PF will come down to half i.e. 1.835 per cent.
