Will EPFO ​​extend the deadline to opt for a higher EPF pension? Here’s what experts say

The EPFO ​​Department may have to accept applications after the deadline if there are sufficient reasons for delay.

New Delhi: The last day to apply for higher pensions from EPFO ​​is June 26, 2023, but many people are still unsure about applying for the higher EPS option. That’s why many experts say EPFO ​​has passed the deadline to opt for higher pensions for the third consecutive time. The odds are slim, however, as EPFO ​​has already extended the date twice.

What experts say:

“Since the EPFO ​​Department has significantly delayed clarifications on the application process and calculation of a higher pension, with the most recent circular dated June 14, the Department will have to extend the deadline (June 26). The department may even have to accept requests after the deadline in cases where there are sufficient reasons for delay,” said Sanket Jain, Partner, Pioneer Legal, on Business Today.

“While the EPFO ​​has clarified that the additional 1.16% contribution would come from the employer share, there is still no clarity on the source of these contributions when the employer has already liquidated the company. Furthermore, there are also cases where the relevant data is not available from the last employer or is not traceable because the company has been transferred or merged with other entities. Given these issues, one can reasonably expect a possible extension in the June 26, 2023 timeline,” another expert named Kriti Kaushik, Partner, Shardul Amarchand Mangaldas & Co., told Business Today.

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 in the online application form. For example, you should keep your Universal Account Number (UAN), your 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.