EPFO extends the deadline for applying for higher pensions

Much to the relief of those who were unable to apply until June 26, 2023, EPFO ​​has extended the deadline for applying for higher pensions to July 11, 2023.

New Delhi: As a great relief to those who were unable to apply until the last date of June 26, 2023, EPFO ​​has extended the deadline for applying for higher pensions to July 11, 2023. Applications for higher pensions are now open until July for eligible participants 11. Following a Supreme Court ruling in November 2022, which was subsequently followed by delays in releasing relevant clarifying circulars, there have been further extensions.

Previously, many users had trouble applying for higher pensions on the EPFO ​​site, and there was speculation that the statutory body could extend the final date for a third consecutive term.

Apply for a higher pension at EPS? Check suitability

According to a Supreme Court ruling, only two groups of employees are eligible to apply for the higher EPS pension:

1. Those who were members of EPF and EPS on September 1, 2014 and remained so after that date.

2. Those who retired before 1 September 2014 and opted for a higher pension, but whose applications were rejected by the EPFO ​​authorities

Documents required to apply

Certain documents must be submitted with the online application form. For example, you should keep your Universal Account Number (UAN), Pension Payment Order (PPO) number for retirees, documentation of payments to the EPF account above the pay cap limit, etc., as reported in the Economic Times.

EPF: A Brief History

Employees’ Provident Fund, or EPF, is a method used by the government to encourage people in the workforce to save money for retirement. It was established in 1952 by the Ministry of Labor and Employment. This fund has been actively managed and implemented by the ministry since the inception of the initiative to encourage saving among the country’s working professionals, according to a report in Paytm.