Tuesday, June 27, 2023

Moving forward the higher pension date by 15 days to July 11

 Delhi, India: On Monday, the Employees' Provident Fund Organization extended the deadline for employees to select a higher pension by 15 days to July 11. The manager of the pension fund extended the deadline for employers by three months, until September 30, when they must approve and upload wage information for eligible applicants.

On June 24, TOI was the first to report that EPFO will extend the application deadline in response to complaints from numerous employers and employees, who both sought to simplify the process of applying for a higher pension. This is the third time the application deadline for a higher pension has been extended. The EPFO originally stated that the deadline would be May 3, but it was later extended to June 26 to give eligible pensioners and members four months to submit their proposals. The eligible pensioners and members have a final 15-day window to resolve any issues. According to a ministry statement, the deadline for employees to submit applications for the validation of option and joint options has been extended to July 11.

Raghunathan KE, a member of the Central Board of Trustees representing employers, said that businesses have to verify a lot of wage data, which makes the process hard. He welcomed the government's extension of time.

"EPFO once more demonstrates its consideration and compassion in dealing with issues. As a result of the pandemic and current economic conditions, they should also think about establishing an alternative mechanism for those businesses that have closed their doors. "It should also be addressed cases where employers were not found for retired pensioners living in different locations," he told TOI.

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