x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Omar intervenes to thwart political exploitation of reservation protests | CM quotes Rudyard Kipling | Tara Chand skips Madan Lal Sharma’s death anniversary event | Winter vacation in High Court from Jan 6 | Follow traffic advisory: MeT tells tourists | Centre scraps no-detention policy | SIA cracks down on ‘Kashmir Fight’ terror threats targeting migrant KP employees | LG Inaugurates IGNCA Regional Centre at Jammu, emphasizes promotion of art & culture | Face covering by women advocates violates BCI dress code: J&K High Court | Record Govt jobs provided in 1.5 years: PM Modi | DDC Chairman Bharat Bhushan Rebukes Haseeb Drabu’s Critique of DDCs | KVIB Ramban organises awareness program at ITI Kawbagh | Bus Stand Police Jammu reunites missing girl with family | Vision document 2047 finalized for District Poonch | Rozgar Mela | Mahakumbh: An opportunity for Prayagraj to shine in hospitality, says CM Yogi | Quality education imperative for honing intellectual capacity of youth: Dy CM | Business leader Rahul Sahai honored in Georgia | Sr BJP leader Ghulam Ali Khatana visits Darul Uloom Deoband | JMC, police conduct joint anti encroachment drive | Encouragement to investment prime focus of J&K bank | Kathua Admin announces ex-gratia relief for families affected by fire incident | HC deny bail to Army Major in dowry death case | Grand celebration of Kisan Diwas held at Directorate of Horticulture Jammu | KVK Reasi celebrates National Farmers Day | PIB Jammu organises seminar, bike rally to promote WAVES | Caste-based Census must for upliftment of society: Tony | NZIEA celebrates 69th Foundation Day Across J&K | Dr Virendra Kumar visits senior citizen home in Srinagar | Radha Soami Satsang Beas considers relocation of Bhota Hospital to Jammu region | Samba police trace missing minor girl | Hakla praised Ajaz Asad Administrative Secretary RDD | JSS Kathua Shines at CBSE National Adolescent Summit 2024 | Dogri Manyta Diwas celebrates at GCW Udhampur | SMVDU showcases excellence at Jammu Mahotsav 2024 | Desh Bhagat University's School of Nursing hosts Grand Freshers' Party | IDPS celebrates Annual Day "Wings of Change" | Dewan Devi Public School celebrates Christmas | Residential refresher coaching camp commences | Department of Dogri celebrates Dogri Manyata Divas | GDC Akhnoor celebrates Dogri Manta Divas | GDC Nagrota hosts awareness camp | GCW Bhagwati Nagar hosts thrilling Intra-College Kho-Kho match | Back Issues  
 
news details
EPFO unveils procedure to apply for higher pension under Employees Pension Scheme
2/20/2023 10:33:36 PM
agencies
NEW DELHI, Feb 20: Retirement fund body EPFO on Monday came out with a procedure to enable subscribers and their employers to jointly apply for higher pension under Employees' Pension Scheme (EPS).
Earlier in November 2022, the Supreme Court had upheld Employees Pension (Amendment) Scheme 2014.
The EPS amendment of August 22, 2014, had raised the pensionable salary cap to Rs 15,000 a month from Rs 6,500 a month, and allowed members along with their employers to contribute 8.33 per cent of their actual salaries (if it exceeded the cap) towards the EPS.
In an office order, the Employees Provident Fund Organisation (EPFO) provided for dealing with the 'Joint Option Form' by field offices of the body.
EPFO stated that "a facility will be provided for which URL (unique resource location) will be informed shortly. Once received, the regional PF Commissioner shall put adequate notice on the notice board and banners for wider public information".
It provided that each application will be registered, digitally logged and the receipt number will be provided to the applicant.
It further stated that the office in-charge of the concerned regional provident fund office shall examine each case of joint option on higher salary and intimate the decision to the applicant through e-mail/post and later through SMS also.
It also provided that any grievance by the applicant can be registered on EPFiGMS (grievance portal) after submission of his joint option form and payment of due contributions, if any.
The order stated that these directions are being issued in compliance with the order of Supreme Court on November 4, 2022.
EPFO has asked its field offices to provide an option for higher pension to eligible subscribers in accordance with the Supreme Court order.
According to the EPFO circular on December 29, 2022, the Central Government has directed to implement the directions in the order.
The apex court had given all EPS members, as on September 1, 2014, six months to opt for the amended scheme.
The apex court in its order gave four more months to eligible subscribers to opt for higher pension under EPS-95.
The court had also struck down the requirement in the 2014 amendments mandating employee contribution of 1.16 per cent of the salary exceeding Rs 15,000 per month. This will facilitate the subscribers to contribute higher to the scheme and get enhanced benefits accordingly.
The EPFO circular had also provided for the higher pension option for those eligible subscribers who either contributed on actual wages higher than Rs 5,000 or Rs 6,500 per month prevalent threshold pensionable salary or exercised their option for higher pension or their request for higher pension was declined by EPFO authorities before the amendment to EPS-95 in 2014.
The eligible subscribers would have to apply jointly with their employer for the enhanced benefit in the application form prescribed by the commissioner and all other required documents like joint declaration etc.
An EPFO trustee K E Raghunathan who is representing employers, appreciated the issuance of the circular, which details on implementation of SC judgment, in spite of complexity, financial burden, and need for simplified procedure.
"Finally, it is a happy ending for all. I congratulate the EPFO officials and ministry for the circular with the able guidance and directive from hon'ble Union labour minister in ensuring a smile on the face of the senior citizens.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU