Employees’ Provident Fund Organization (EPFO) has issued clarification regarding eligibility for higher pension. EPFO has made it clear that the fund authorities will have to implement the Supreme Court’s decision within eight weeks.
The Employees’ Provident Fund Organization (EPFO) has issued a circular to implement the Supreme Court’s November order on pension. EPFO has laid down detailed guidelines on eligibility of employees for higher pension, documents required and application process. EPFO in its order has stated that the Central Government vide letter dated 22.12.2022 has directed to implement the directions contained in para 44(ix) of the judgment dated 04.11.2022 of the Hon’ble Supreme Court within the prescribed time limit. requisite action may be taken by EPFO.
Who will get more pension
EPFO said the circular pertains to employees who have made excess contribution under the EPF scheme and exercised this option before their retirement, but their option was categorically rejected by the concerned office of RPFC or Wage contributions were diverted back to provident fund accounts.
How to apply for coverage
EPFO added 12.94 lakh net subscribers in October. The Supreme Court in its judgment in November said that employees who had retired before September 1, 2014, or who had already opted out of membership under the pre-amendment scheme, would not be entitled to the benefits of this decision. EPFO has also said that the employees who have retired before September 31, 2014, if they have exercised the option under para 11(3) of the 1995 scheme, will be benefitted by the new provisions of the pension scheme, as it It was before the 2014 amendment.
Who can apply for enhanced pension?
- Pensioners who had contributed salary in excess of the prevailing wage limit of Rs 5,000 or Rs 6,500 as employees.
- who, while being a member of EPS, 1995, exercised the joint option under the provision of para 11(3) of the pre-amendment scheme; And
- His exercise of such option was denied by the PF authorities.
How to apply pensioner
- The request shall be made in such manner as may be specified by the Commissioner from time to time.
- The application form for verification shall contain the disclaimer given earlier as mandated in the Government Notification.
- In case of shares requiring adjustment of pension amount from the Provident Fund to be re-deposited in the Fund, express consent shall be given by the pensioner in the application form.
- In case of transfer of funds from Exempted Provident Fund Trust to Pension Fund of EPFO, the version of the trustee shall also be submitted. The undertaking shall be to the effect that the contribution due shall be deposited within the specified period along with interest till the date of payment.
- The mode of crediting such funds will be explained through a subsequent circular.
Documents required to apply
EPFO in its circular states that the application form must include the following specified documents for proof and for further processing:
- Proof of joint option u/s 26(6) of the EPF Scheme duly attested by the employer.
- Proof of transfer to Provident Fund on salary in excess of the prevailing wage limit of Rs.5,000/Rs.6,500.
- Proof of transfer to Pension Fund on salary in excess of the prevailing salary limit of Rs.5,000/Rs.6,500.
Process after submission of application form
As per the EPFO circular, the application forms received within the stipulated time frame will be disposed of by the Regional PF Commissioner in the following manner:
- A site will be created, the URL for which will be issued shortly. The Regional PF Commissioner shall put up adequate notices and banners on the notice boards for wide public information.
- Every application will be registered and logged digitally. Receipt number will be provided to the applicant.
- The application will appear in the login of the employer which will be forwarded for verification with e-sign.
- As far as possible, RPFC will convert each application into an e-file.
- The concerned SS/AO will mark any discrepancy and forward it to APFC/RPFC-II who will forward the matter after due scrutiny.
