Excerpt- Employee Pension Scheme: EPFO has told that pensioners who have retired till 31 August 2014 will not be given its benefit. While people connected to EPS on or after September 1, 2014 will be given the option of getting higher pension.
Employees Provident Fund Organization ie EPFO has given a big gift to the pensioners on the new year. EPFO has issued a circular on 29 December following the order of the Supreme Court. In this circular, EPFO has decided to give more pension to some pensioners following an order of the Supreme Court given in November .
According to the guidelines of EPFO, employees will now get a chance to deposit an amount equal to 8.33 percent of their actual salary in EPS. Its maximum limit will be Rs 15,000 per month.
These people will get more pension
EPFO opens a new window. This is for such employees who, while being a member of EPS at the time of their employment, have contributed towards pension on more than the salary limit of Rs.5000 or Rs.6500.
While being a shareholder of EPFO, who has used the joint option of pre-amendment scheme under EPS while being a member of EPS-95. Or those EPFO subscribers who opted for such option but were refused by EPFO.
How to apply for more pension
EPFO says that if the eligible people wish to get more pension, then for this they will have to go to the regional office of EPFO. After going there, the application form will have to be filed for this. Along with this, proper documents will also have to be submitted.
Some things have to be kept in mind while filling the application form
- These documents will be required
- Proof of joint option u/s 26(6) attested by employer of EPF scheme
- Proof of joint option u/s 11(3) attested by the employer
- Proof of deposit
- Proof of deposit in pension fund on salary exceeding the salary limit of Rs 5,000 or Rs 6,500
- Proof in writing of refusal from APFC or any other
