EPFO Latest News: Employers had demanded from the Labor Ministry to extend the deadline for verifying the joint option form. He said that they are facing technical problems in the EPFO website and difficulties in getting the employment details of the applicants.
New Delhi. Employees Provident Fund Organization (EFPO) has extended by 3 months the last date for employers to submit details of salary and allowances of employees choosing Higher Pension Option.
The deadline for validating the joint form for choosing the option of higher pension was ending on 30 September. Now employers i.e. companies will be able to submit the details of salary and allowances of employees till 31st December.
The Labor Ministry has said in a statement that employers and employer unions had appealed to the ministry to extend the deadline for uploading the salary details of applicant pensioners/members.
For verification of salary and allowances, 5.52 lakh applications are pending with the employers till September 29, 2023. The Ministry said that after considering this request, the EPFO Board Chairman has extended the deadline for employers to submit salary details etc. till December 31, 2023.
This is the case,
a provision was added in paragraph 11(3) of EPS-95 in March 1996. In this, EPFO members were allowed to increase their pension contribution by 8.33% of their full salary (Basic + Dearness Allowance). That means they were given a chance to get more pension.
EPFO had given only six months time to the employees to file the Joint Option Form for higher pension contribution. Many employees were not able to file the joint option form during this period. He reached the Supreme Court. In one of its decisions, the Supreme Court had ordered the government to give these employees an opportunity to file the joint option form.
The Supreme Court’s decision came in November 2022.
Earlier, the Supreme Court had said in its order on November 4, 2022 that EPFO will have to give four months time to all the eligible members to choose the option of higher pension. This four-month period ended on March 3, 2023. Since then this deadline is being extended.
