Keep it simple: The Hindu Editorial on opting for higher pension
1 year, 9 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 to the Employees’ Pension Scheme, the matter pertains to two categories of applicants — those who retired from service prior to September 1, 2014, and those who left service after the date and those who are still in service. Though pensioners will have to make payments separately to be considered eligible for higher pension, they would also be keen to know how much pension they would get. The situation is more complicated for establishments that are no longer in existence — there appears to be no way out for their employees and pensioners to apply for higher pension.

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History of this topic

Pensioners may soon be able to make EPFO claims via UPI: Labour secretary
Trending News
1 week ago

Pensioners may soon be able to make EPFO claims via UPI: Labour secretary

Hindustan Times  

The Employees' Provident Fund Organisation is set to integrate Unified Payments Interface to reduce transaction times and increase convenience. Under the Provident Funds and Miscellaneous Provisions Act, an employer and worker both are required to contribute 12% of a person’s basic salary towards a retirement-benefits corpus managed by the EPFO “Our next step is to incorporate UPI into the system," …

EPFO to integrate UPI, expand pension access, and enhance EPI benefits: Sumita Dawra
1 week ago

EPFO to integrate UPI, expand pension access, and enhance EPI benefits: Sumita Dawra

The Hindu  

The Employees’ Provident Fund Organisation is set to introduce UPI integration for claims processing, a move aimed at enhancing efficiency and reducing transaction time, Labour and Employment Secretary Sumita Dawra said on Monday. Speaking on the initiative exclusively with ANI, Ms. Dawra said EPFO currently has around 7.5 crore active members who maintain their PF accounts and contribute towards their …

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

APRPA demands minimum pension of ₹9,000 with DA for retired employees
1 month, 3 weeks ago

APRPA demands minimum pension of ₹9,000 with DA for retired employees

The Hindu  

All Pensioners and Retired Persons Association Visakhapatnam committee general secretary Sk Hussain has demanded that employees and workers, who had retired after serving in government and private organisations, be paid a minimum pension of ₹9,000 per month along with DA in tune with the growing prices of essential commodities. A dharna was organised by the APRPA, in support of the …

About 22,000 EPFO members got higher pension, 1.65 lakh asked to contribute additional amount
1 month, 4 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, …

About 22,000 EPFO members got higher pension, 1.65 lakh asked to contribute additional amount
1 month, 4 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, …

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

Budget 2025: Government may raise minimum EPS pension to Rs 7,500
2 months, 3 weeks 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 …

Pensioners’ delegation calls upon Finance Minister; demands ₹7,500 minimum monthly pension under EPS-95
2 months, 3 weeks ago

Pensioners’ delegation calls upon Finance Minister; demands ₹7,500 minimum monthly pension under EPS-95

The Hindu  

A delegation of EPS-95 pensioners met Finance Minister Nirmala Sitharaman on Friday to press for their long-pending demand for a minimum monthly pension of ₹7,500 along with dearness allowance. Under the EPS-95 or Employees Pension Scheme 1995 run by retirement fund body Employees’ Provident Fund Organisation, the existing minimum monthly pension is ₹1,000. Comment: An opportunity to rethink India’s pension …

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

Higher Pension: Employers must submit wage details by January 2025 to get benefits
3 months, 1 week 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, 2 weeks 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, 2 weeks 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, 2 weeks 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, 2 weeks 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, 2 weeks 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, 2 weeks 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 …

Govt may lift cap on EPF contributions in key push for savings scheme
4 months ago

Govt may lift cap on EPF contributions in key push for savings scheme

Hindustan Times  

The Union government is considering doing away with caps on the share of an employee’s salary contributed towards pension to enable higher deductions by those who want higher retirement payouts, as part of a series of upcoming reforms, a senior labour ministry official said on Thursday. An employer and worker both are required by law to contribute 12% of a …

New pension platform to ease payouts: Minister
4 months, 3 weeks 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 …

Trial run of centralised PF pension system is successful, says Centre
4 months, 3 weeks ago

Trial run of centralised PF pension system is successful, says Centre

The Hindu  

The pilot run of the proposed Centralised Pension Payments System under the employees’ pension scheme of the Employees Provident Fund Organisation is successful, the Union Labour Ministry said on Friday, November 8, 2024. The new system, to be implemented nationwide by January 2025, will help more than 78 lakh EPS pensioners to receive their pension from any bank, any branch, …

EPFO Raises PF Withdrawal Limit: New Rule Allows Higher Payout for Personal Needs
6 months, 2 weeks ago

EPFO Raises PF Withdrawal Limit: New Rule Allows Higher Payout for Personal Needs

News 18  

The Employees’ Provident Fund Organisation has raised the one-time withdrawal limit for provident fund accounts to Rs 1 lakh, doubling the previous limit of Rs 50,000. The EPFO manages the provident fund, pension, and insurance schemes for the organised sector employees in India, primarily through the Employees’ Provident Fund scheme. Mandaviya also announced another key update: the government has relaxed …

What are the issues faced by EPFO pensioners?
6 months, 2 weeks 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, 3 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 issues addressable: Fin secy
8 months, 1 week ago

Pension issues addressable: Fin secy

New Indian Express  

NEW DELHI: India can’t afford to go back to the Old Pension System, but it is possible to address the core issues raised by government employees without being fiscally imprudent, said finance secretary TV Somanathan, who is also heading the Committee on National Pension System. In an interaction with this newspaper, he said the committee had multiple rounds of talks …

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 …

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, 3 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 …

Minister promises action on EPFO higher pension delay
1 year, 4 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, 6 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 …

Retired APSRTC employees to get higher pensions
1 year, 9 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 …

EPFO extends deadline to apply for higher pension till July 11
1 year, 9 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 …

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 …

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 EPFO Pension Deadlines To End In June; Check Details
1 year, 10 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, …

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 …

Give an opportunity to pre-2014 retirees to avail of higher PF pensions: Kerala MP
1 year, 10 months ago

Give an opportunity to pre-2014 retirees to avail of higher PF pensions: Kerala MP

The Hindu  

The demand to provide an opportunity to those pensioners who came under the Employees’ Pension Scheme of the Employees’ Provident Fund Organisation and retired prior to September 1, 2014, without exercising the joint option to avail themselves of higher PF pensions, has been renewed by John Brittas, Member of Parliament from Kerala. In a seven-page letter sent to the Union …

EPFO: New deadline to apply for higher pension. Check details here
1 year, 11 months ago

EPFO: New deadline to apply for higher pension. Check details here

Live Mint  

In order to provide a larger window of opportunity and in order to enable all eligible persons to file their applications, the Employees' Provident Fund Organisation has extended the date for filing applications to opt for a higher pension. The Supreme Court initially set a four-month deadline from the judgment date for eligible employees who were members of the EPF …

EPFO extends deadline to apply for higher pension till June 26
1 year, 11 months ago

EPFO extends deadline to apply for higher pension till June 26

Hindustan Times  

Employees' Provident Fund Organisation on Tuesday extended the date for filing applications to opt for a higher pension till June 26, 2023. Here's how to check your PF balance According to the statement by the ministry of Labour and Employment, the timeline for filing applications has been extended in order to provide a larger window of opportunity and in order …

EPFO extends deadline to apply for higher pension till June 26
1 year, 11 months ago

EPFO extends deadline to apply for higher pension till June 26

Live Mint  

Retirement fund body EPFO on Tuesday extended the deadline to apply for higher pension till June 26. EPFO has made arrangements for obtaining applications for the validation of option / joint option from pensioners / members as per the Hon’ble Supreme Court order dated 4 November 2022. Earlier, the Supreme Court in its order on November 4, 2022 had mandated …

Government extends date to opt for higher EPF pension to June 26
1 year, 11 months ago

Government extends date to opt for higher EPF pension to June 26

The Hindu  

The Centre has extended the time to submit joint options to claim higher provident fund pension till June 26. They said such a requirement, while submitting the joint options for higher pension, is designed to discourage and disqualify applications for higher pensions. They added that the calculation of the actual quantum of money to be recovered from the provident fund …

Extend deadline by 6 months for online submission of consent for higher PF pension: Kerala MP
1 year, 11 months ago

Extend deadline by 6 months for online submission of consent for higher PF pension: Kerala MP

The Hindu  

With the period stipulated by the Employers’ Provident Fund Organisation expiring on Wednesday for sections of employees and pensioners to exercise joint option along with their employers for higher PF pension, the demand has been made by John Brittas, Member of Parliament from Kerala, for extending the deadline by six months. Gupta judgment of the Supreme Court in 2016, Mr. …

Higher pension from EPF: Will EPFO extend the deadline?
1 year, 11 months ago

Higher pension from EPF: Will EPFO extend the deadline?

Live Mint  

With less than 2 days left for individuals to apply for higher pensions under the Employees' Pension Scheme, the question is: Will EPFO extend the deadline? The EPFO issued a circular on 23 April in which it stated that applications and joint options for higher pension will be examined by the field office. Now, on demand of the employees’/employers’ associations …

Higher pension | EPFO to wait for number of applicants before releasing calculation process
1 year, 11 months ago

Higher pension | EPFO to wait for number of applicants before releasing calculation process

The Hindu  

Even as the last date to file joint options to claim higher Provident Fund pension ends on May 3, the Centre has decided to wait for the total number of applicants before releasing the procedures to calculate the pension and the share of employees. The amendments to the Employees’ Pension Scheme of 1995 to decide the future of the Centre’s …

As EPFO higher pension scheme deadline arrives, check eligibility, interest rate and other details
1 year, 11 months ago

As EPFO higher pension scheme deadline arrives, check eligibility, interest rate and other details

Hindustan Times  

The Employees’ Provident Fund Organisation has set May 3 as the last date to submit an application for higher pension under the Employees' Pension Scheme. Employees who became members before 1 September 2014 and continue to be one can apply for higher pension. Documents to submit Employees should share an agreement to allow the transfer of funds from the provident …

Higher pension from EPFO: Deadline, Eligibility, interest rate and other details
1 year, 11 months ago

Higher pension from EPFO: Deadline, Eligibility, interest rate and other details

Live Mint  

With just less than a week left for individuals to apply for higher pensions under the Employees' Pension Scheme, the Employees’ Provident Fund Organisation has issued new details for scrutiny of information and wage details submitted by the employee and employer for higher pension. Confusion over EPFO note on higher pension As per Amit Gupta, MD, SAG Infotech, EPFO in …

Minister clears the air over clause restricting persons opting for higher PF pension
1 year, 11 months ago

Minister clears the air over clause restricting persons opting for higher PF pension

The Hindu  

Union Labour Minister Bhupender Yadav on Thursday clarified that employees and pensioners covered under the Employees’ Pension Scheme of 1995, “are not restricted from filing application forms/ joint options,” in the absence of the requirement of permission under paragraph 26 of the Employees’ Provident Fund Scheme, 1952. Replying to a set of questions raised by John Brittas, Communist Party of …

EPFO fixes 8.15% interest rate on provident fund
2 years ago

EPFO fixes 8.15% interest rate on provident fund

Hindustan Times  

The Employees Provident Fund Organisation, the retirement fund manager to India’s nearly 70-million-strong salaried class, has fixed an 8.15% interest rate on employees’ provident fund for 2022-23, a member of its Central Board of Trustees told HT. Provident fund savings are mandatory under the Employees Provident Funds and Miscellaneous Provisions Act. Provident fund savings are mandatory under the Employees Provident …

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