How to get a higher pension in current EPFO ruling explained

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 of up to ₹15,000 as subsidy for contributions towards Employees Pension Scheme. 1.16% additional contribution rule for higher EPS All those EPFO members who are opting to contribute on their actual basic wage which is higher than the threshold of ₹15,000 per month for getting a higher pension, will not have to contribute this additional 1.16 per cent towards EPS. EPFO new deadline to opt for higher pension Retirement fund body EPFO has extended the date for filing applications to opt for a higher pension till June 26, 2023.