EPFO HIGHER PENSION

EPFO: Specified employees stand to gain due to EPFO's decision of discontinuing GIS deductions and refunding all deductions made thus far. According to Akhil Chandna, Partner, Grant Thornton Bharat, "The discontinuation of deductions under GIS will ...

The notification issued by the ministry of labour and employment said the penal charges across three schemes of EPFO will be uniform and at the rate of 1% per month or 12% per annum from the date of notification as against 25% per annum until now fo...

The move, which is likely to be challenged by govt and the Employees Provident Fund Organisation (EPFO), will impact thousands of expatriates who have contributed to the social security scheme or are currently part of it.

HC's call will likely face resistance from the govt and the PF body because already a large number of expats have either contributed to or are currently enrolled in the social security program.

The retirement fund body EPFO, on Monday, issued the standard operating procedures (SOPs), listing out the valid documents for correction in employees’ profile while fixing timelines for processing the correction-related applications and allowing su...

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...

EPFO Interest Rate Hike: The Employees Provident Fund is a mandated contribution for salaried employees. An employer is also obligated to make a matching contribution to the EPF account. On a monthly basis, an employee contributes 12% of his earning...

EPFO plans to overhaul its pension division by setting up an in-house actuary and hiring more staff due to the increased workload from the Supreme Court's order on higher pensions. The retirement fund body may ask exempted establishments to pay for ...

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.

The Centre has extended a five-month extension for employers to upload wage details for employees seeking higher pensions. The facility, enabled by the Employees' Provident Fund Organisation, was granted after a Supreme Court order in November 2022....

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...

The deadline for uploading wage details which was ending on September 30 has been extended following representations from Employers & Employers' Associations, according to a labour ministry's release.

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 t...

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 dat...

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...

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 i...

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 t...

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.

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.