New Update Your Pension: A total of 17.48 lakh applications were submitted by EPFO members to get more pension benefits under EPS-95.
New Update Your Pension: The Employees’ Provident Fund Organization (EPFO) has issued 21,885 Pension Payment Orders (PPOs) and sent demand notices to 1.65 lakh eligible members asking them to deposit additional amount for more pension benefits. This information was shared by Minister of State for Labor and Employment Shobha Karandlaje in Parliament.
Status of more pension application
A total of 17.48 lakh applications were submitted by EPFO members to get more pension benefits under the Employees’ Pension Scheme (EPS-95). As of January 28, 2025, EPFO has issued demand notices in 1,65,621 cases and processed 21,885 PPOs.
The government is monitoring pending cases and has provided clarifications to EPFO field offices to expedite processing. Applications are being considered after the Supreme Court’s decision on November 4, 2022.
Online facility for higher pension
Let us tell you that EPFO has developed an online facility to process applications for higher pension benefits. The platform allows members, pensioners and employers to submit their joint options online.
This facility was launched on 26 February 2023, with the deadline extended several times:
- 11 July 2023 – Initial last date for member applications.
- 30 September 2023 – Last date for employers to forward joint applications.
- 31 May 2024 – Another extension for employers.
- 31 January 2025 – Last date for employers to submit applications.
What is Higher Pension Option?
EPS-95 provides social security to employees in the organised sector. Employers contribute 8.33 per cent of the salary to EPS, with a maximum limit of Rs 15,000 per month. With the new decision, employees can choose to contribute based on their actual basic salary, which will increase their pension benefits.
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