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EPFO extends deadline to apply for higher pension for members till July 11: Report
The provident fund body had earlier extended the deadline thrice from March 3 to May 3 and then till June 26.
The Employees Provident Fund Organisation (EPFO) on Monday extended the deadline of higher pension for members till July 11, PTI reported.
The provident fund body had earlier extended the deadline thrice from March 3 to May 3 and then till June 26. the deadline was extended to provide more opportunity to the pensioners so as to ease any problem faced by them.
In November last year, the Supreme Court had allowed employees who were part of the EPFO before September 1, 2014 and had been in service after the said date but could not avail the joint option under the EPS, to do so within four months of the order.
Who is eligible for EPS?
The employees who were members of the EPF and EPS on September 1, 2014 and remained to be after the said date. Also, the employees who retired before September 1, 2014 and previously had opted for higher pensions but applications were rejected by the EPFO authorities.
Documents required
The documents required include universal account number (UAN), pension payment order (PPO) for pensioners and proof of payment made to the EPF account above the wage ceiling limit.
How to calculate higher pension?
Higher pension for those who retired before September 1, 2014 is calculated on the basis of average monthly pay drawn during the contributory period of service in 12 months preceding the date of exit from the membership.
For those employees who retired/will retire on or after 1 September 2014, the pension will be calculated on the basis of average monthly pay drawn during the contributory period of service in 60 months preceding the date of exit from the membership.
