EPS 95 Higher Pension: Employees Provident Fund Organization (EPFO) has also given retired employees an opportunity to choose higher pension. EPFO has also mentioned this in its circular, but there is still confusion among the employees regarding this. After all, if retired employees opt for EPS 95, then what condition will they have to fulfill.
New Delhi. Ever since the Employees’ Provident Fund Organization (EPFO) has issued a circular regarding higher pension, many doubts and questions have been emerging. Since this whole matter is related to retirement, some people also have a question that even after retirement, we can opt for higher pension. Looking at the order of the Supreme Court regarding EPS 95 and the circular of EPFO, it is quite clear that retired employees have also been given a chance to get more pension.
As per the EPFO circular, retired employees are also entitled to higher pension under EPS 95. Provided that they have to fulfill certain conditions for this. The Supreme Court had said in its decision in the year 2022 that even those employees whose salary is more (more than 15 thousand) can opt for Pension Scheme i.e. EPS, but such employees should not be a member of EPFO before September 1, 2014. It is necessary to be It can be understood in two ways.
If you retire before 2014 then…
Such employees who have already retired before September 1, 2014 also get the option to opt for higher pension. However, they will get the benefit of EPS 95 scheme only if they have already applied for higher pension and it has been approved by EPFO. If EPFO has rejected it, then one has to apply again for higher pension. Such employees can also apply online and by visiting the regional office of EPF.
Retired after 2014…
In the circular issued by EPFO in December 2022, such employees were not considered eligible for higher pension, who were members of EPF before September 1, 2014 but retired after this period. The Supreme Court did not make any such mention in its decision, after which the EPFO had to issue the circular again in February 2023. According to this, the employees who opened PF account before 2014, even if they retire after that, they have the right to choose higher pension. Such employees will have to fill the joint option form. It can be filled online till May 3, 2023 or offline by going to the regional office of EPF.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
