Government release has revealed that more than 8,000 members have applied online to opt for higher pension in the recently allowed joint option for Employees Pension Scheme under the Employees Provident Fund Organization (EFPO). However several subscribers and trade unions flagged concerns about issues in opting for higher pension which includes documentation and disclaimer for pension formula.
More than 8000 members apply online to opt for higher pensions
The Labor Ministry release states,
EFPO states that it has closed the option on March 4,2023 for the retired EPS members (prior to September 1,2014 and whose options were not considered earlier) and under this category of employees, it received 91,258 online applications as on March 4. For persons who were EPF members as on March 4, the online applications as on September 2014, the online applications have been allowed from the employees since February 27 and 8,897 members have applied to the employers.
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Further the release states,
“…the contributions of both the employee and employer on higher wages are involved, the EPF and EPS-95 schemes require the joint request when they contribute on higher salary. This is not a new requirement and predates the EPS-95 and the position has been affirmed by SC in the RC Gupta case stating that it is a necessary pre-cursor for exercising joint option on higher salary under EPS…EPFO has been making all-out efforts to publicize the process of joint option which can be submitted online till 03rd May, 2023,”
CITU writes another letter
In the meantime, Centre of Indian Trade Unions (CITU) has sent another letter for the second consecutive day to the EPFO’s Central Provident Fund Commissioner and highlighted issues in the online portal to opt for the higher pension scheme
The letter states, “…you have unnecessarily invoked the para 26(6) of EPF Scheme and asked the employees and pensioners to attach “permission” document from EPFO supposed to be granted under para 26(6). Not a single employee or retiree is in possession of any such document of deduction of PF on their actual wage from the date of his employment,”
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