Even though the last day to submit joint options for claiming higher provident fund pensions ends on May 3, the Center will not allow applications to be filed before publishing the procedure for calculating pension and employee ratios. decided to wait for the total number of participants. Amendments to the 1995 Employee Pension Plan, which determine the future of the Center’s budget support of his 1.16% of wages for higher pensions for EPFO members, could also take time. I have. Both decisions are important for implementing the November 4, 2022 Supreme Court order regarding higher PF pensions.
a senior government official said hinduThe calculation is done after the total number of applicants has been evaluated. “Based on the number of applicants, we do the calculations,” he said, adding that an assessment of the government’s contribution and his EPFO role can only be made after looking at the total number of applicants. When asked about amending his EPS 1995 to clarify employee and government contributions, he said the center was working on it. “The Federal Labor Department is working on it,” he added.
READ ALSO | Regional PF Officers given one month to consider joint options for higher pensions
Pensioners, employers and trade unions have asked for clarity, including on the proper calculation method, before submitting joint options. “Essentially, EPFO leaves the task of counting to employers. Bean Kohli said. Kohli said the pensioners’ group will help her employer prepare the total payment, interest and other factors necessary to claim her higher PF pension.
Kohli said EPFO has not opened the card. “They are prolonging their work. Employees and pensioners will suffer in the process, ”he added.
EPFO has extended the deadline for filing joint options with employers to May 3, as the deadline set by the Supreme Court for filing joint options with employers expired on March 3. will continue to provide services after September 1, 2014, but if the joint option under the Employees’ Pension Plan cannot be exercised, it can be exercised by May 3, 2023.” His EPFO says on its website: For employees who left before September 1, 2014, there is another web link to validate joint options with employers.
This is the last free article.
