EPFO issues guidelines to avail higher pension

NEW DELHI: The Employees’ Provident Fund Organisation has made the decision to put into practice the SC’s November buy on greater pension and laid out the eligibility requirements and procedure for availing the advantage. The buy mentioned employees who ended up customers of EPS on September 1, 2014, would get a chance to contribute up to 8.33% for every cent of their actual salaries, as an alternative of 8.33% for each cent of pensionable wage capped at Rs 15,000 a thirty day period, towards pension.
Complying with the courtroom buy, EPFO has now opened a fresh window for those people earning about the before wage ceiling of Rs 5,000 or Rs 6,500, as effectively as pensioners. Qualified people are now demanded to pay a visit to the regional EPFO workplace with their paperwork to submit their software. For this, the EPFO circular explained the commissioner will specify the type and manner in which the request is to be built. It extra that the software type need to point out the disclaimer, as instructed in the governing administration notification, and that pensioners ought to give their consent for any readjustment from provident fund (PF) to pension fund, or, if any, redeposit to the fund.