Deadline To Apply For Higher Pension Ends Tomorrow. Check Details
NDTV
Eligible employees covered under the Employees Pension Scheme, 1995 may avail of higher pension by submitting their request along with other documents.
The deadline to apply for higher pensions under the Employees Pension Scheme ends tomorrow (May 3). The deadline was initially set for March 3 but was extended by two months by the Employees Provident Fund Organisation (EPFO). Eligible employees covered under the 1995 scheme may avail of higher pension by submitting their request along with the required documents.
The Supreme Court last November allowed employees to contribute up to 8.33 per cent of their actual salary to their pension instead of 8.33 per cent for the pensionable salary which is capped at Rs 15,000 presently. The court had initially given a six months' window to all EPS members, as on September 1, 2014, to opt for the amended scheme.
In its order, the Supreme Court removed the requirement of employee contribution of 1.16 per cent of the salary exceeding ₹ 15,000 per month. This move was intended to allow employees to contribute higher to the scheme and avail of the benefits applicable.
If you also fall under the eligible employee category to avail of this scheme, you can submit your request online through the EPFO portal by following these simple steps.
