EPF Higher Pension: Follow These Easy Steps to Apply on the EPFO Portal
The employee's entire contribution goes to EPF while the 12 per cent contribution by the employer is split as 3.67 per cent to EPF and 8.33 per cent to EPS.
PF Latest Update: Employees now can request a higher pension due to recent rules issued by the Employees Provident Fund Organization (EPFO). The unified members' portal's URL has been activated by the retirement fund body, and it specifies that members who want a higher pension can apply for one by May 3, 2023.
A step-by-step guide to submit application for higher pension
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Go to member e-Sewa portal.
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"Pension on higher salary: Exercise of joint option on or before May 3, 2023" is an option. Click on that option.
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Select "Application form for joint options - Joint options under erstwhile para 11 (3) and para 11 (4) of EPS 1995 for employees who were in service prior to September 1, 2014, and continued to be in service on or after September 1, 2014, but were unable to exercise joint option under the previous provision to para 11 (3) of EPS 1995 to be exercised on or before May 3, 2023.”
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Now, fill out the fields on your screen that ask for your UAN, Name, Birthdate, Aadhaar number, Aadhaar-linked mobile number, and captcha.
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Click on "Get OTP".
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Your mobile number associated with your Aadhaar will receive a one-time password.
What is the present rule of EPS?
At the moment, the employee provident fund, or EPF, receives 12% of the employee's basic salary, dearness allowance, and retaining assistance, if applicable.
The whole employee contribution goes to the EPF, while the employer's 12% contribution is divided into 3.67% for the EPF and 8.33% for the EPS.
Employees do not make contributions to the pension plan; instead, the Government of India makes a 1.16 per cent contribution to each employee's pension.
The Employees Provident Fund Organisation (EPFO) has extended the deadline for certain qualified members to apply for increased pensions under the EPS until May 3, 2023.
EPFO extends deadline to apply for higher pension
The Employees' Provident Fund Organisation (EPFO) set a deadline of May 3 for subscribers to choose a higher pension. Formerly, the deadline for submitting an application for a higher pension under the EPS was March 3, 2023.
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