EPFO EPS ELIGIBILITY
Change in EPS rule for calculating lump sum withdrawal amount on early exit: Who benefits, who loses?
Pension amount in EPS: The government via notification dated June 14, 2024 has revised the table used for calculating lump sum withdrawal amount. A member of Employees' Pension Scheme (EPS) can withdraw lump sum amount if he/she exit the scheme before completion of 10 years. Read on to know who gains and who loses from the new pension scheme rule.
Can you transfer EPF account from unexempted trust to EPFO, exempted trust?
EPF account transfer from unexempted trust: Many salaried individual have Employees' Provident Fund account either with EPFO or exempted trusts. However, what if you have an EPF account with unexempted trusts? Does EPF scheme rules allow an EPF member to transfer the unexempted trusts to EPFO or exempted trusts? Read on to know about it.
You could lose section 80C tax benefit on EPF contribution; here's why
Section 80C tax benefit on EPF: Many salaried individuals claim Section 80C tax benefit on their own Employees Provident Fund (EPF) contribution. However, not many are aware that if the EPF trust does not meet certain specified conditions, then both the employer and employee contribution will be taxable in the hands of an individual.
When should EPS pensioner submit annual digital life certificate; how to submit using face authentication
Submission of life certificate: The person must be an Employees’ Provident Fund Organisation (EPFO) member. EPS members can submit a life certificate at Pension Disbursing Bank, online, Common Service Centre, IPPB, Indian Post Office, Postman, Umang app, Nearest EPFO office.
EPFO gives relief to these EPF members from submitting joint declaration form
EPFO Joint declaration form submission: EPF scheme rules require mandatory submission of this form if an EPF member wants to contribute on basic pay exceeding statutory limit of Rs 15,000 per month. The EPFO has also started sending SMSes to the EPF members to submit the joint declaration form as soon as possible.
How to avoid rejection of EPF withdrawal claim; Steps provident fund member should take
EPF Withdrawal claim rejection: Many individuals are struggling to get their EPF money at the time of withdrawal. The reason for rejection of their EPF claim is due to mismatch in the details available in the EPFO records as well as in the EPF account holders' PAN, Aadhaar or incomplete KYC records. Here is how the EPF claim rejection can be avoided.
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Will higher EPS pension dream collapse due to EPFO's new calculation rules?
There have been reports that EPFO has adopted a new rule for calculating higher EPS pension for members who have retired on or after September 1, 2014. As per reports the services period is getting divided into two parts and pension is calculated on pro rata basis which is likely to result in reduced pension for these members.
EPFO latest rules on submission of digital joint requests to increase EPF contribution
The Employees’ Provident Fund Organisation (EPFO) subscribers who wish to contribute more than the statutory limit must submit a joint request and permission under EPF Scheme, 1952, Paragraph 26(6).
Employees’ Pension Scheme (EPS) members having multiple account numbers: EPFO rules to know
The following procedures must be undertaken if an EPS member has several account numbers for concurrent employment, simultaneously at two or more establishments, according to the EPFO circular dated January 29, 2024.
Higher EPS pension: Will pensioners' arrears get adjusted against higher contribution dues from them? EPFO answers
The Employees' Provident Fund Organisation (EPFO) has issued revised FAQs on higher EPS pension on December 13, 2023. The newly added FAQ answers pensioners queries about whether their pension arrears due will be adjusted against higher contribution dues. A pensioner retired after September 1, 2014 is eligible to apply for higher pension.
What you can do if your higher EPS pension application is stuck
An individual who has applied for higher EPS pension can now check the status of it on the EPFO's member sewa portal. It may happen that an individual's higher pension application is stuck either due to wrong rejection by the employer or it is yet to be reviewed. What are the options an employee has in this case.
Today is the last day to apply for higher EPS pension
July 11, 2023 is the last date to apply for higher pension under Employees' Pension Scheme (EPS). Once this deadline expires, then an individual will not be able to submit online application form for higher pension. The EPFO in its press release dated June 26, 2023 said that this is a last opportunity to apply for higher EPS pension.
What is the formula to calculate EPS pension
The formula to calculate pension under Employees' Pension Scheme (EPS) was tweaked by the Employees' Provident Fund Organisation (EPFO) in 2014. Further, the EPFO has released a circular clarifying the method of pension computation for those who opt for higher EPS pension. Read on to know the formula for EPS pension calculation.
EPFO extends deadline to opt for higher EPS pension; last opportunity to apply
The Employees Provident Fund Organisation (EPFO) has extended the deadline for the third time to apply for higher EPS from June 26, 2023 previously. The option to apply for higher EPS is available online on the member Sewa website and is available irrespective of whether the EPF account is held with the private trust or EPFO.
Higher EPS pension calculator: How to use it, calculate the amount payable for higher pension
The Excel calculator released by the EPFO on the Member Sewa portal will help an employee to know how much of the past contributions he/she has to pay to opt for higher pension. Once the amount is known, it will make easier for him/her to evaluate the pros and cons of opting for it.
Higher EPS pension: Deadline to apply extended by 15 days
The current deadline to apply for higher pension under the Employees’ Pension Scheme ended on June 26, 2023. Prior to this, it was extended twice, once on March 3 and then on May 3.
Higher EPS pension FAQ released: Rules, pension calculation formula, documents — EPFO answers your queries
The FAQs on higher EPS pension cover a wide range of topics, including how to calculate pensions, what documentation EPFO members must send with their application forms, and more.
Today is the last day to apply for higher EPS pension
The deadline to apply for higher pension from Employees' Pension Scheme (EPS) is June 26, 2023 i.e., today. However, it may happen that you still haven't applied for the same or are unable to submit the application form due snags on the website. Then you must hurry up and submit the application form before the deadline expires tonight.
EPS higher pension: 'Unable to submit,' EPFO members complain on Twitter as deadline nears
Many EPF members are complaining on Twitter that they are unable to submit the joint application form on the EPFO's Member Sewa portal for higher pension. It is important to note that the last date to apply for higher pension from EPS is July 26, 2023 - which is coming Monday.
Why EPFO needs to extend deadline to apply for higher EPS pension for third time
Deadline to apply for higher EPS pension: ET Wealth spoke to experts on whether there is a need to extend the last date to apply for higher EPS pension for a third time. This is what they said.
EPFO releases list of documents needed to apply for higher EPS pension, eases process
Higher EPS pension: The latest circular is applicable for an eligible employee who does not have proof of joint request/undertaking/permission for making a contribution to the EPF account on full/higher salary (for those where basic salary exceeded the wage limit). The circular is intended to provide the relief and ease the process of applying for higher pension from EPS.
Does eligible employee have an exit option to get out of higher EPS pension application?
The circular issued by the Employees' Provident Fund Organisation (EPFO) on May 11, 2023, clarifies that how dues will be calculated to be paid for higher EPS pension. Further, a written consent is mandatory for diversion or depositing funds for higher pension from EPS. However, what will happen if written consent is not provided by the EPFO?
How much time limit do eligible employees have to give consent for deposit, divert money for higher EPS pension to EPFO?
The Employees' Provident Fund Organisation (EPFO) has extended the deadline for EPS higher pension applications from May 3 to June 26, 2023.
How eligible employees can apply for higher pension under EPS on EPFO portal: A step-by-step guide
Employees Provident Fund Organisation has activated the link on the Member e-Sewa portal for the eligible EPF members to submit their application for higher pension under Employees' Pension Scheme. Here is a step by step guide on how to submit application for higher pension under EPS on the EPFO portal.
Will EPFO extend last date to apply for higher pension under EPS for eligible employees?
The last date to submit the application for the higher pension under the EPS is March 3, 2023. Hower, the EPFO issued guidelines for existing employees on February 20, 2023. With less than 12 days left for the deadline to expire, there are many documents that an individual has to submit along with the application form. Will EPFO extend deadline to apply for higher pension?
Who is eligible and who is not eligible to apply for higher pension from EPS?
The SC in its judgement dated November 4, 2022, has upheld the EPFO notification issued in 2014 and also provided certain employees to apply for higher pension. However, there may be confusion among employees who is eligible and who is not eligible to apply for higher pension. Read on to know whether you can apply for higher pension from EPS or not.
Eligible employees who missed higher EPS pension option earlier can still apply: Latest EPFO circular
EPFO has issued a circular on February 20, 2023 for employees who were members of EPS-95 scheme on August 31, 2014 on how they can apply for higher pension. Do note that this is the last chance for eligible employees to opt for higher pension from EPS. If they do not submit the application by March 3, 2023, then they might miss the chance to opt for higher pension from EPS.
EPFO issues circular on higher pension, clarifies which employees are eligible and how to apply
The Employees Provident Fund Organisation (EPFO) has issued a circular on December 29, 2022 on who can get higher pension and the process to apply for higher pension. The new circular is issued to comply with the instructions issued by the Supreme Court in its jdugement dated November 4, 2022.
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