The Employees' Provident Fund Organization (EPFO) has once again extended the deadline to apply for higher pension under the Employees' Pension Scheme (EPS). In a recent press release on June 26, 2023, the EPFO announced that eligible employees now have until July 11, 2023, to submit their joint application form for a higher pension. This extension aims to provide an opportunity for pensioners and EPF members to address any difficulties they may face in the process. Additionally, employers have been given an additional three months to upload wage details online.

 

This is the third time that the deadline has been extended, with the original deadline set by the Supreme Court for March 3, 2023. Due to delayed circulars and pending clarifications, the deadline was extended first to May 3, 2023, and then to June 26, 2023. The recent extension offers individuals more time to evaluate and make an informed decision regarding their eligibility for a higher pension.

 

To address any issues faced by pensioners or members regarding the online application process, the EPFO has emphasized the importance of promptly lodging grievances through the EPFiGMS portal. This will ensure that any difficulties in submitting the online application for validation of option/joint option are resolved effectively.

 

Experts suggest that the extended deadline allows eligible individuals to carefully assess whether applying for a higher pension is beneficial for them. The EPFO has provided information related to applying for a higher EPS pension in a fragmented manner, with various circulars issued at different times. By offering clarity on aspects such as pension computation, deposit of funds, and processing of joint option applications, members can re-evaluate their options and make an informed decision.

 

Recognizing the challenges faced by employers in submitting wage details for each pensioner/EPF member, the EPFO has granted a three-month extension for employers to submit the necessary information. This relief alleviates the practical difficulties employers faced in collating and filing wage details for the entire period of employment.

 

The EPFO is actively working on simplifying the process of applying for a higher pension from EPS. In a recent circular dated June 14, 2023, the EPFO introduced an alternate mechanism and accepted additional documents for submission if an eligible employee does not have proof of joint declaration as required. This measure aims to streamline the application process and accommodate eligible employees who may not possess the necessary documentation.

 

In response to requests from employers and employer associations, the EPFO has granted a further three-month extension for uploading wage details of applicant pensioners/members. This extension until September 30, 2023, provides employers with additional time to fulfill this requirement.

 

To apply for a higher EPS pension, eligible employees can visit the Member Sewa portal and access the online application link provided by the EPFO. Whether the EPF account is held with a private trust or the EPFO, eligible members can utilize this portal to submit their application.

 

With the extended deadline, eligible employees now have the opportunity to carefully evaluate their eligibility for a higher EPS pension and take the necessary steps to secure their financial well-being in retirement.