scorecardresearchEPFO extends the deadline for higher pension for the third time in a row

EPFO extends the deadline for higher pension for the third time in a row till July 11. Details here

Updated: 27 Jun 2023, 08:53 AM IST

EPFO has granted another extension to the deadline for applying for a higher EPS pension. Previously set for June 26, 2023, the deadline has been further extended.

EPFO extends deadline till July 11 to opt for higher EPS

EPFO extends deadline till July 11 to opt for higher EPS

The Employees Provident Fund Organisation (EPFO) has announced another extension to the application deadline for higher pension. Eligible members now have until July 11 to apply for the increased pension. This decision to grant multiple extensions was prompted by a Supreme Court verdict in November 2022, which was followed by delays in the issuance of clarification circulars.

The deadline for applying for a higher pension has been extended for the second time. Previously, it was extended from May 3, 2023, to June 26, 2023. A press release from the EPFO read, “Last opportunity of 15 days is being given to remove any difficulty faced by the eligible pensioners/members. Accordingly, the last date for submission of Applications for Validation of Option/Joint Options by employees is extended to 11.07.2023.”

The EPFO has now extended the deadline for applying for a higher pension for Employees’ Pension Scheme (EPS) subscribers for the third time. Initially, the deadline was set for March 3, 2023, as per the Supreme Court's judgment on November 4, 2022, providing a four-month window. However, due to delays in issuing the necessary circulars by the EPFO, the deadline was first extended to May 3, 2023. Yet, some clarifications were still pending at that time, leading to a second extension until June 26, 2023.

The press release also states that if any eligible pensioner or member encounters difficulty in submitting an online application for the validation of their option/joint option due to issues in updating KYC, they can lodge a grievance on EPFiGMS for resolution. To ensure proper record-keeping and further action, the grievance should be submitted under the category of 'Higher Pensionary benefits on higher wages'.

With the latest extension, individuals now have the opportunity to thoroughly evaluate and make an informed decision regarding whether to apply for a higher pension or not. The EPFO has disseminated information related to applying for higher EPS pension in a fragmented manner.

For example, the circular on the application method was issued on February 20, 2023, followed by a notification clarifying the additional contribution of 1.16% on May 3, 2023. Most recently, on June 1, 2023, the method of pension computation was provided. This fragmented information dissemination has made it challenging for eligible employees to assess the benefits of opting for a higher EPS pension.

The EPFO is actively working to simplify the process of applying for a higher pension from EPS. In a circular dated June 14, 2023, alternate mechanisms and acceptable documents have been directed to field offices for cases where an eligible employee lacks proof of joint declaration required under Para 26(6). This joint declaration is necessary for employees whose basic salary exceeds the specified wage ceiling limit (currently 15,000) and who wish to join or continue as EPF scheme members.

Additionally, the EPFO has received numerous representations from employers and employers' associations, requesting an extension for uploading wage details of applicant pensioners/members. Considering these requests, the EPFO has sympathetically granted employers an additional three-month period to submit wage details and other necessary information online, with a deadline of September 30, 2023.


National Pension System
First Published: 27 Jun 2023, 08:53 AM IST