This is a great time for government employees. There is a chance if you’re also looking for greater pension benefits. Pension updates have been released from the federal government. Employees the Provident Fund Organisation (EPFO) announced Monday that the process to apply for additional Pensions in the Employees Pension Scheme (EPS) has begun. The organization that manages the retirement fund announced that employers and members would be able to apply for this jointly.
The pension was raised from 6500 to 15,000.
We can be clear that in November 2022, The High Court upheld the Employees Pension Scheme for 2014. The EPS revision announced on August 22nd, 2014, increased the limit of pensionable salaries from Rs. 6,500 to 15,000 per month. Members and their employers could contribute 8.33 percent of their monthly pay to the EPS.
EPFO will offer an exclusive facility.
EPFO, in a formal request, has shared information on handling the Joint Option Form’ with the field office. It has stated that a facility will be made available, and the URL (Unique Resource location) will be announced soon. Once this information is received information, the regional PF Commissioner will distribute information via banners and notice boards for large-scale public access.
Order is issued
According to the directive, each application is digitally registered, and a receipt number will be issued to applicants. It also states that the Officer in Charge of the responsible Regional Provident Fund Office will review each case of an option to join for a higher salary. The decision will be made known to the candidate via post or email and later via SMS. The order states in the ruling that these guidelines were issued in compliance with the ruling of 4 November 2022 from the Supreme Court.
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