NEW DELHI: All eligible pensioners under the Employees’ pension scheme 1995 (EPS 95) who retired before September 2014 now have until May 3, 2023 to apply for a higher pension, the Labor Department said in a statement Monday.
This extension came at the request of workers’ and employers’ organizations after the original deadline of March 3, 2023.
The supreme court had previously ruled that those who retired before September 1, 2014 and exercised the option under Section 11(3) prior to their retirement were entitled to a pension at higher wages.
Instructions on this were issued to the branch offices on December 29, 2022 and January 5, 2023 by circular.
For pensioners who retired before September 1, 2014 and exercised common options before retirement, the online function for submitting applications for validation of common options on the EPFO website was available until March 3, 2023.
However, the deadline for all other categories of subscribers to the program is May 3, 2023. In November 2022, the EPFO Supreme Court had ordered that another category of subscribers to the EPS-95 be given four months to apply for the program to decide a higher pension.
This option allows subscribers to contribute to their actual base salary which is higher than the pensionable salary of Rs 15,000 per month, ultimately leading to higher pensions. The EPFO issued instructions on February 20, 2023 to submit joint online options from employees who were on duty before September 1, 2014 and continued on duty on or after that date, but the joint option below the previous one Subject to Section 11 (3) EPS 1995. Joint options for this group of employees can be submitted until May 3, 2023.
This extension came at the request of workers’ and employers’ organizations after the original deadline of March 3, 2023.
The supreme court had previously ruled that those who retired before September 1, 2014 and exercised the option under Section 11(3) prior to their retirement were entitled to a pension at higher wages.
Instructions on this were issued to the branch offices on December 29, 2022 and January 5, 2023 by circular.
For pensioners who retired before September 1, 2014 and exercised common options before retirement, the online function for submitting applications for validation of common options on the EPFO website was available until March 3, 2023.
However, the deadline for all other categories of subscribers to the program is May 3, 2023. In November 2022, the EPFO Supreme Court had ordered that another category of subscribers to the EPS-95 be given four months to apply for the program to decide a higher pension.
This option allows subscribers to contribute to their actual base salary which is higher than the pensionable salary of Rs 15,000 per month, ultimately leading to higher pensions. The EPFO issued instructions on February 20, 2023 to submit joint online options from employees who were on duty before September 1, 2014 and continued on duty on or after that date, but the joint option below the previous one Subject to Section 11 (3) EPS 1995. Joint options for this group of employees can be submitted until May 3, 2023.
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