Following the Supreme Court order dated November 4, 2022, the Employees’ Provident Fund Organisation allowed members of the Employees’ Pension Scheme to file online application for validation of option to avail pension on higher wages.
“Many representations have been received from various quarters seeking extension of time. The issue has been considered and it has been decided that in order to provide a larger window of opportunity and in order to enable all eligible persons to file their applications, the timeline for filing applications would now be till 26th June, 2023,” the labour ministry said in a statement.
“The timeline is being extended to facilitate and provide ample opportunity to the pensioners or members so as to ease out any difficulty being faced by them,” it said, adding that this has been decided after sympathetically considering the various demands received from employees, employers and their associations.
According to the labour ministry, more than 12 lakh applications have been received till date for availing of pension on higher wages.
As per the EPFO, the Supreme Court directive on the matter allowed employees who had retired before September 2014 and had exercised the option under paragraph 11(3) of the scheme prior to their retirement shall be eligible for pension on higher wages.
Lack of clarity from the retirement fund body EPFO, which manages the Employees’ Pension Scheme, on the replacement mechanism for additional 1.16% contribution and the amount to be transferred from the provident fund account to the pension fund kitty, had deterred a large number of eligible beneficiaries to apply for the scheme so far. The move to extend the deadline, if followed by clarity on the above issues, could make lakhs of EPS members eligible for the benefit.