About 22,000 EPFO members got higher pension, 1.65 lakh asked to contribute additional amount
1 month, 2 weeks ago

About 22,000 EPFO members got higher pension, 1.65 lakh asked to contribute additional amount

Live Mint  

New Delhi, Feb 3 Retirement fund body EPFO has issued 21,885 pension payment orders and asked 1.65 lakh eligible members to deposit additional amount for higher pension, Parliament was informed on Monday. A total of 17,48,768 applications were submitted by members/pensioners for getting higher pension on making higher contribution under Employees' Pension Scheme 1995 run by Employees' Provident Fund Organisation, Minister of State for Labour & Employment Shobha Karandlaje said in a written reply to Lok Sabha. intimation to members to deposit balance amounts for higher pension eligibility, have been issued in 1,65,621 cases and 21,885 Pension Payment Orders have been issued, the minister informed the House. The date for employers for forwarding the joint application for higher pension was extended till September 30, 2023 and subsequently till May 31, 2024.

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History of this topic

EPFO claims huge liability to pay off higher pension demands, workers, pensioners object
2 weeks, 6 days ago

EPFO claims huge liability to pay off higher pension demands, workers, pensioners object

The Hindu  

The Employees Provident Fund Organisation fears that it may have to spend ₹1,86,920 crore to pay just 50% of the total applicants for a higher pension. It said interim actuarial evaluations will continue for every 50,000 demand letters issued to the Employees Pension Scheme subscribers who had submitted joint options with their employers. “Evaluation of sample data of around 38,000 …

EPFO retains 8.25 pc interest rate on employees' provident fund deposits for 2024-25
3 weeks, 2 days ago

EPFO retains 8.25 pc interest rate on employees' provident fund deposits for 2024-25

Deccan Chronicle  

New Delhi: Retirement fund body EPFO on Friday retained an interest rate of 8.25 per cent on employees' provident fund deposits for 2024-25, sources said.In February 2024, the Employees' Provident Fund Organisation had increased the interest rate on EPF marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23. "The EPFO's apex decision making body Central Board …

EPFO retains 8.25 pc interest rate on employees’ provident fund deposits for 2024-25
Top News
3 weeks, 2 days ago

EPFO retains 8.25 pc interest rate on employees’ provident fund deposits for 2024-25

Live Mint  

New Delhi, Feb 28 Retirement fund body EPFO on Friday retained an interest rate of 8.25 per cent on employees’ provident fund deposits for 2024-25, sources said. In February 2024, the Employees' Provident Fund Organisation had increased the interest rate on EPF marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23. "The EPFO's apex decision making …

EPFO panel to discuss higher pension, new interest rate, changes in insurance scheme
3 weeks, 2 days ago

EPFO panel to discuss higher pension, new interest rate, changes in insurance scheme

The Hindu  

A meeting of the Central Board of Trustees of the Employees’ Provident Fund Organisation, scheduled here on Friday, will discuss the interest rate to be recommended for PF deposits for the coming financial year and review the implementation of the Supreme Court order on higher PF pension. Another major issue before the CBT is the implementation of the Supreme Court’s …

EPF Pension | Kerala HC Restrains EPFO From Reducing Higher Pension Of Petitioners Who Contributed Based On Their Actual Salary
1 month, 3 weeks ago

EPF Pension | Kerala HC Restrains EPFO From Reducing Higher Pension Of Petitioners Who Contributed Based On Their Actual Salary

Live Law  

The Kerala High Court by an interim order directed the Employees Provident Fund Organisation to not reduce the higher pension drawn by certain persons who retired from Travancore Titanium. The Employee Provident Fund Organisation had sent a letter to these employees saying that their pension has been revised as per the pro-rata method of calculation introduced through the 2014 amendment, …

Minimum EPS pension hike to ₹7,500 may be considered in Union budget 2025: Report
2 months, 1 week ago

Minimum EPS pension hike to ₹7,500 may be considered in Union budget 2025: Report

Hindustan Times  

The government could reportedly be considering acting on the appeal by private sector employees covered under the Employees' Provident Fund Organisation for an increase in the minimum pension, which at the moment is fixed at ₹1,000 per month. Under the Provident Funds and Miscellaneous Provisions Act, an employer and worker both are required to contribute 12% of a person’s basic …

Budget 2025: Government may raise minimum EPS pension to Rs 7,500
2 months, 1 week ago

Budget 2025: Government may raise minimum EPS pension to Rs 7,500

India Today  

In a move that could significantly impact private sector employees, the government is reportedly contemplating a hike in the minimum monthly pension under the Employees’ Pension Scheme to Rs 7,500. A delegation representing pensioners met Finance Minister Nirmala Sitharaman on January 10, 2025, during a pre-budget consultation, urging an increase alongside additional benefits like a dearness allowance hike and free …

EPFO begins centralised PF pension disbursal
2 months, 2 weeks ago

EPFO begins centralised PF pension disbursal

The Hindu  

The Employees’ Provident Fund Organisation has completed full-scale implementation of the new Centralised Pension Payments System to provide PF pensions under the Employees’ Pension Scheme. Pension worth ₹1,570 crore, for the month of December 2024, was disbursed to more than 68 lakh pensioners in 122 pension disbursing regional offices, the Union Labour Ministry said in a release on Friday. Paradigm …

EPFO rolls out centralised pension system in all regional offices; 68 lakh pensioners to benefit
2 months, 2 weeks ago

EPFO rolls out centralised pension system in all regional offices; 68 lakh pensioners to benefit

Live Mint  

New Delhi, Jan 3 Retirement fund body EPFO has completed the Centralized Pension Payments System rollout in all its regional offices across the country that will benefit over 68 lakh pensioners, the labour ministry said on Friday. The first pilot of CPPS was completed in October last year in Karnal, Jammu, and Srinagar regional offices with the pension disbursement of …

EPS rule update: Pensioners can now withdraw pension from any bank branch
2 months, 3 weeks ago

EPS rule update: Pensioners can now withdraw pension from any bank branch

Hindustan Times  

Employees’ Pension Scheme subscribers now have access to their pension from any bank branch in India. Pensioners don't have to visit the branch for any verification and it will be credited immediately upon release The ministry of labour and employment made the announcement in a statement on September 4 last year as part of the newly introduced Centralised Pension Payments …

EPS rule tweak: Starting today, pensioners can withdraw pension from any bank branch across India. Check latest norms
2 months, 3 weeks ago

EPS rule tweak: Starting today, pensioners can withdraw pension from any bank branch across India. Check latest norms

Live Mint  

Employees’ Pension Scheme subscribers can access pension from any bank branch in India from today, January 1, 2025. This is the outcome of the introduction of the Centralised Pension Payments System, and the rollout is expected to benefit 78 lakh EPS pensioners. Additionally, pensioners would not need to visit the branch for any verification at the time of commencement, and …

EPFO fined ₹1.5 lakh for not revising pension amount
2 months, 3 weeks ago

EPFO fined ₹1.5 lakh for not revising pension amount

Hindustan Times  

The State Consumer Disputes Redressal Commission has directed the Employees Provident Fund Organisation, Chandigarh, to pay compensation of ₹50,000 each to three subscribers for not revising their pension without any valid reasons. As per the order, EPFO has been directed to pay for causing mental agony, harassment and unfair trade practice. Krishan Murari and two other employees of Punjab State …

Higher Pension: Employers must submit wage details by January 2025 to get benefits
3 months ago

Higher Pension: Employers must submit wage details by January 2025 to get benefits

Live Mint  

The Employees' Provident Fund Organisation provides an online facility for submitting wage details by employers for pensions on higher wages. “A final opportunity is being given to the employers till 31.01.2025 to ensure that employers process and upload these pending Applications for Validation of Option / Joint Options,” EPFO said in a statement. Additionally, the EPFO has also asked employers …

EPFO Extends Deadline For Employers To Process Pending Higher Pension Applications; Check Details Here
3 months ago

EPFO Extends Deadline For Employers To Process Pending Higher Pension Applications; Check Details Here

ABP News  

The Employees’ Provident Fund Organisation has extended the deadline for employers until January 31, 2025, to process and upload approximately 3.1 lakh pending applications for the validation of options or joint options under the pension scheme for higher wages. “In spite of so many extensions, it has been observed that more than 3.1 lakh applications for validation of options or …

Employers can file wage details till Jan 31 for higher pension
3 months ago

Employers can file wage details till Jan 31 for higher pension

Live Mint  

New Delhi, Dec 18 Retirement fund body EPFO has extended time till January 31, 2025 for employers to upload wage details etc regarding 3.1 lakh pending applications for pension on higher wages. An online facility was made available by EPFO for submitting applications for validation of options/joint options for pension on higher wages, a labour ministry statement said. In view …

EPFO: Have you not filed wage details yet? Retirement fund body extends date for last time | Check here
3 months ago

EPFO: Have you not filed wage details yet? Retirement fund body extends date for last time | Check here

India TV News  

Employees' Provident Fund Organisation - a retirement fund body - extended time till January 31, 2025 for employers to upload wage details etc. Accordingly, the last date for submission of applications was extended to July 11, 2023 and a total of 17.49 lakh applications were received from pensioners/members till July 11, 2023. In view of representations received from Employers and …

EPFO extends deadline for employers to upload pending pension applications
3 months ago

EPFO extends deadline for employers to upload pending pension applications

India TV News  

EPFO pension: The Employees’ Provident Fund Organisation has extended the deadline till January 31, 2025, for employers to upload wage details, etc regarding 3.1 lakh pending applications for pension on higher wages. Final opportunity till January 31, 2025 In spite of so many extensions, it has been observed that more than 3.1 lakh applications for validation of options / joint …

Will EPF pension be raised soon? Here are parliamentary panel’s recommendations
3 months ago

Will EPF pension be raised soon? Here are parliamentary panel’s recommendations

Live Mint  

The Parliamentary Standing Committee on Labour recently recommended that the government raise the minimum pension, which currently stands at ₹1,000, given by the Employee Provident Fund Organisation under its Employee Pension Scheme. In its report tabled in Parliament on December 16, the panel noted that over a decade has passed since the minimum pension of ₹1,000 per month was implemented. …

EPFO high pension: Why have 1.7 million applied for higher EPS contribution?
3 months ago

EPFO high pension: Why have 1.7 million applied for higher EPS contribution?

India Today  

Over 1.7 million Employees' Provident Fund Organisation members have opted for higher pensions under the Employees’ Pension Scheme, following the Supreme Court’s landmark ruling in November 2022. This ruling has brought significant relief for eligible employees, allowing them to contribute to the scheme based on their actual basic salaries instead of the fixed threshold of Rs 15,000 per month. Under …

Delhi Government adds 80,000 more people to old-age pension scheme; check eligibility, how to apply
3 months, 3 weeks ago

Delhi Government adds 80,000 more people to old-age pension scheme; check eligibility, how to apply

Live Mint  

The Delhi government has announced an expansion of its old-age pension scheme, bringing an additional 80,000 senior citizens under its ambit. Interested applicants can apply through the e-district portal at https://edistrict.delhigovt.nic.in/ According to the Delhi government, over 10,000 applications have already been submitted since the portal was launched. Documents Required Applicants need to upload the following documents to complete their …

New pension platform to ease payouts: Minister
4 months, 1 week ago

New pension platform to ease payouts: Minister

Hindustan Times  

The labour ministry will switch to a centralised pension-payment system from 2025, allowing retirees to receive monthly payouts from any bank or its branches in any location throughout the country, for which a large-scale test run was recently carried out. Mansukh Mandaviya The new platform for subscribers of the Employees’ Provident Fund Organisation, the state-run retirement fund manager, is aimed …

What are the issues faced by EPFO pensioners?
6 months, 1 week ago

What are the issues faced by EPFO pensioners?

The Hindu  

The story so far: Nearly 78 lakh Provident Fund pensioners across the country under the Employees’ Pension Scheme, 1995 of the Employees’ Provident Fund Organisation will receive their pension through any bank, any branch from January 1, 2025. The Union Labour Ministry cleared the proposal earlier this month for a Centralised Pension Payment System as part of the EPFO’s ongoing …

About 97,000 PF members, pensioners to benefit by pension on higher wages
6 months, 2 weeks ago

About 97,000 PF members, pensioners to benefit by pension on higher wages

The Hindu  

Nearly 97,640 PF members and pensioners under the Employees’ Pension Scheme, 1995, across the country are expected to benefit with pension on higher wages. The overall figure has been arrived at by adding the number of persons who have been issued pension payment orders with the tally of persons who have been sent demand notices. Only in respect of those …

Pension concerns: On the EPFO recommendation
1 year, 1 month ago

Pension concerns: On the EPFO recommendation

The Hindu  

The recommendation of the Central Board of Trustees of the Employees’ Provident Fund Organisation for a 0.1-percentage-point increase in provident fund deposits for 2023-24 should not be surprising, as it is in tune with what the EPFO did last year. Months ago, the Finance Ministry had rejected a proposal to double the minimum pension amount, citing a “huge rise” in …

EPFO fixes 8.25 pc interest rate on employees' provident fund for 2023-24
1 year, 1 month ago

EPFO fixes 8.25 pc interest rate on employees' provident fund for 2023-24

New Indian Express  

NEW DELHI: Retirement fund body EPFO on Saturday fixed a three-year high interest rate of 8.25 per cent on employees' provident fund deposits for 2023-24. In March 2023, the Employees' Provident Fund Organisation had increased the interest rate on EPF marginally to 8.15 per cent for 2022-23 from 8.10 per cent in 2021-22. "The EPFO's apex decision making body Central …

EPFO: Employers can upload wage details online for higher pension until May 31
1 year, 2 months ago

EPFO: Employers can upload wage details online for higher pension until May 31

Live Mint  

The Employees' Provident Fund Organisation on Wednesday said it has extended the last date for employers to upload wage details for higher pension by five months. The extension of time for the employers to upload the wage details online is till May 31, 2024, said the Ministry of Labour and Employment in a statement. Earlier, the deadline to upload wage …

Higher PF pension | Employers get five more months to process applications
1 year, 2 months ago

Higher PF pension | Employers get five more months to process applications

The Hindu  

The Employees’ Provident Fund Organisation on Wednesday extended the time for employers for uploading and submitting the joint options of employees to claim higher pension with their wage details online till May 31. The EPFO had started an online facility for submitting applications for validation of option and joint options for pension on higher wages on February 26, 2023 till …

The woes of pensioners and PF members
1 year, 2 months ago

The woes of pensioners and PF members

The Hindu  

The Employees’ Provident Fund Organisation ’s recent clarification on the implementation of the 2022 Supreme Court verdict on higher Provident Fund pension seems to have added to the woes of pensioners and PF members. Issues in pension computation In the most contentious matter of pension computation, the clarification, which states that pension will be calculated as per paragraph 12 of …

EPFO FAQs: One year after Supreme Court verdict, EPFO releases FAQs for implementing higher pension
1 year, 3 months ago

EPFO FAQs: One year after Supreme Court verdict, EPFO releases FAQs for implementing higher pension

The Hindu  

The Employees Provident Fund Organisation, more than a year after the Supreme Court’s verdict on higher Provident Fund pension, has sent to all its units a set of frequently asked questions on implementing the verdict. Trade unions and employers’ representatives have been seeking clarity from the EPFO on the matter, especially on accessing the records of an employee while validating …

Minister promises action on EPFO higher pension delay
1 year, 3 months ago

Minister promises action on EPFO higher pension delay

The Hindu  

Union Labour Minister Bhupender Yadav met representatives of employees and employers on the Central Board of Trustees of the Employees Provident Fund Organisation here at his office on November 28 and assured them that the Ministry is addressing complaints of delays in processing joint options of employees for higher pension. Representatives of EPFO employees and officers had complained to the …

Higher PF pension | Employers get three more months to validate joint options
1 year, 5 months ago

Higher PF pension | Employers get three more months to validate joint options

The Hindu  

The Employees Pension Fund Organisation on September 29 has extended the time for employers to upload and validate the joint options and wage details of employees for higher provident fund pension. To implement the Supreme Court order of November 4, 2022 on the matter of higher PF pension, the EPFO had launched a window in the members’ portal to submit …

Pre-2014 retirees may move court against validity of EPFO circulars
1 year, 6 months ago

Pre-2014 retirees may move court against validity of EPFO circulars

The Hindu  

Despite suffering a setback in the Supreme Court last month, a section of pre-2014 retirees covered under the Employees’ Pension Scheme 1995 of the Employees’ Provident Fund Organisation is exploring the possibility of challenging legally the validity of EPFO’s circulars issued in December 2022 and January 2023. Indicating this, Dada Tukaram Zode, national legal adviser, Employees Pension Co-ordination Committee, points …

EPFO added 17.89 lakh net members in June this year in 11-month high, says govt data
1 year, 7 months ago

EPFO added 17.89 lakh net members in June this year in 11-month high, says govt data

India TV News  

The Employees' Provident Fund Organisation added 17.89 lakh net members on a net basis in June 2023, according to data released by the Ministry of Labour and Employment. State-wise analysis State-wise analysis of payroll data shows that the five states of Maharashtra, Tamil Nadu, Karnataka, Gujarat, and Haryana have the highest net member addition. The other four states are as …

Centre ratifies 8.15% interest rate on EPF for 2022-23
1 year, 7 months ago

Centre ratifies 8.15% interest rate on EPF for 2022-23

Deccan Chronicle  

New Delhi: The government has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23. Retirement fund body EPFO on March 28, 2023, had marginally raised the interest rate on employees' provident fund deposits to 8.15 per cent for 2022-23 for its over six crore subscribers. As …

EPF Update: Govt Approves 8.15% Interest Rate for Fiscal 2023-24; Details Here
1 year, 7 months ago

EPF Update: Govt Approves 8.15% Interest Rate for Fiscal 2023-24; Details Here

News 18  

The central government has approved to credit interest at 8.15 per cent to the Employees’ Provident Fund scheme for 2023-24. The EPFO’s Central Board of Trustees on March 28 set an 8.15 per cent interest rate on provident fund for this fiscal. According to an Employees’ Provident Fund Organisation office order issued on Monday, July 24, the labour ministry has …

Retired APSRTC employees to get higher pensions
1 year, 8 months ago

Retired APSRTC employees to get higher pensions

Deccan Chronicle  

VIJAYAWADA: APSRTC managing director Ch. Dwaraka Tirumala Rao on Wednesday said retired employees of the corporation will start getting higher pension following a decision taken by the Employees Provident Fund Organisation. On the occasion, Tirumala Rao handed over a Higher Pension Certificate of ₹25,000 to junior assistant G. Satyanarayana. He said that as per the new pension scheme, the pension …

Keep it simple: The Hindu Editorial on opting for higher pension
1 year, 8 months ago

Keep it simple: The Hindu Editorial on opting for higher pension

The Hindu  

The move by the Employees’ Provident Fund Organisation to extend the deadline, for a third time, for employees and pensioners to exercise the joint option for higher pension is of limited relief, as several issues remain unresolved. As the entire process is an outcome of the Supreme Court judgment of November 2022 on the validity of amendments made in 2014 …

EPFO extends deadline to apply for higher pension till July 11
1 year, 8 months ago

EPFO extends deadline to apply for higher pension till July 11

The Hindu  

The Employees’ Provident Fund Organisation has extended the deadline for members and pensioners to apply for higher Provident Fund pension till July 11 The deadline was to expire on June 26. The EPFO said it would be the “last opportunity” for employees to submit the joint options to get pension on higher wages. Over 16 lakh applications received The EPFO …

EPFO launches calculator for higher EPS pension additional contribution
1 year, 8 months ago

EPFO launches calculator for higher EPS pension additional contribution

Live Mint  

The Employees’ Provident Fund Organisation launches calculator for higher EPS pension additional contribution for employees from the Employees’ Pension Scheme Employees can now calculate the money they have to pay to receive a higher pension as the retirement body has released the Excel utility-based calculator to estimate dues that one has to pay. To find out the additional amount for …

Higher EPF Scheme | Extend deadline, simplify application process, employers tell EPFO
1 year, 9 months ago

Higher EPF Scheme | Extend deadline, simplify application process, employers tell EPFO

The Hindu  

Higher EPF Scheme As the June 26 deadline to submit joint options to claim higher provident fund pensions nears, several employers and their representatives are learnt to have approached the Employees Provident Fund Organisation, seeking an extension, as well as a simplified process. Considering this, I am sure the EPFO will extend the date of joint submission,” he said, adding …

Deadline for Higher EPS pension on June 26. Here's how to calculate the amount
1 year, 9 months ago

Deadline for Higher EPS pension on June 26. Here's how to calculate the amount

Hindustan Times  

Around 10 days remain for those who wish to participate in the Employees' Pension Scheme's Higher Pension Scheme, which permits eligible individuals to earn a higher pension amount depending on specified conditions. Calculation of Higher Pension for pre-September 2014 retirees: To determine the pension amount, the average monthly pay earned during the contributory period of service in the 12 months …

EPFO eases higher pension rules: Formula for calculation, list of documents
1 year, 9 months ago

EPFO eases higher pension rules: Formula for calculation, list of documents

Live Mint  

Only twelve days window left for employees to apply for higher EPS pension. Formula for calculating higher pension for those who retired prior to 1 September 2014 The pension shall be calculated based on the average monthly pay drawn during the contributory period of service in the span of 12 months preceding the date of exit from the membership of …

EPF Pension: Delhi High Court Restrains EPFO From Taking Coercive Steps On Basis Of Recovery Notices For Higher Pension
1 year, 9 months ago

EPF Pension: Delhi High Court Restrains EPFO From Taking Coercive Steps On Basis Of Recovery Notices For Higher Pension

Live Law  

The Delhi High Court recently restrained the Employees’ Provident Fund Organisation from taking any coercive steps with respect to the notices issued to various pensioners by it for making recoveries of the differential amount on higher pension received by them from many years. Justice Rekha Palli passed the interim order in the pleas moved by four pensioners who, after their …

Applications for higher pensions under EPS to be assessed within 20 days of receipt: EPFO
1 year, 9 months ago

Applications for higher pensions under EPS to be assessed within 20 days of receipt: EPFO

Hindustan Times  

The joint applications for higher pensions under the Employees' Pension Scheme will have to be scrutinised within 20 days of receipt, the Employees' Provident Fund Organisation has directed its field officers. “Hence, it is reiterated that each Applications for Validation of Joint Option/Joint Option shall be scrutinized expeditiously and it shall be ensured that Demand Letter to Employer/Communication to Employer …

PAN-Aadhaar Linking, Higher EPF Pension, And Other Important Personal Finance Deadlines In June 2023
1 year, 9 months ago

PAN-Aadhaar Linking, Higher EPF Pension, And Other Important Personal Finance Deadlines In June 2023

ABP News  

From the deadline for applying for a higher pension to PAN-Aadhaar linking, June 2023 is crucial for some important personal finance tasks that need to be completed. PAN-Aadhaar linking In March 2023, the Finance Ministry extended the deadline to link PAN with Aadhar till June 30, 2023. June 14, 2023 The due date for issuing TDS certificates for tax deducted …

PAN-Aadhaar Linking, Higher EPFO Pension Deadlines To End In June; Check Details
1 year, 9 months ago

PAN-Aadhaar Linking, Higher EPFO Pension Deadlines To End In June; Check Details

News 18  

PAN-Aadhaar linking and higher EPFO pension deadlines were extended in order to give citizens more time to complete the procedures. And, the higher EPFO pension facility is for those who want a higher pension after retirement. “Where a person, whose permanent account number has become inoperative…, is required to furnish, intimate or quote his permanent account number under the Act, …

EPFO data: 13.4 lakh members added to retirement fund body in March, 1.39 crore in 2022-23
1 year, 10 months ago

EPFO data: 13.4 lakh members added to retirement fund body in March, 1.39 crore in 2022-23

India TV News  

EPFO Data: According to payroll data released on Saturday, the retirement fund body EPFO added 13.40 lakh members on a net basis in March, taking the total addition to 1.39 crore in 2022-23, The latest data suggested that a total of 1.22 crore members were added to the EPFO on a net basis in 2021-22. Out of 13.40 lakh members …

Higher pension: EPFO directs offices to calculate dues with interest
1 year, 10 months ago

Higher pension: EPFO directs offices to calculate dues with interest

The Hindu  

The Employees’ Provident Fund Organisation has issued an internal circular directing its regional offices on the method to calculate the dues of subscribers who apply for higher PF pension. According to the circular, 8.33% of employer share on higher pay from November 16, 1995 or from the date the pay exceeds the wage ceiling of ₹6,500 and 1.16% of employer …

How to get a higher pension in current EPFO ruling explained
1 year, 10 months ago

How to get a higher pension in current EPFO ruling explained

Live Mint  

The Employees' Provident Fund Organisation has come up with a procedure for a contribution towards higher EPS pension. According to the labour ministry, the additional contribution of 1.16 per cent of basic wages for subscribers opting for higher pensions will be managed from employers' contributions. Employees Pension Scheme calculation At present, the government pays 1.16 per cent of basic wages …

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