EPS 95 Pension Online : Ever since the Employees’ Provident Fund Organization has issued a circular regarding higher pension! Since then many doubts and questions are coming to the fore. Since this whole matter is related to retirement, some people also have a question that even after retirement, we can opt for higher pension. It is clear by looking at the order of the Supreme Court and the circular of EPFO regarding the Employees Pension Scheme! That retired employees have also been given a chance to get more pension!
EPS 95 Pension Online
EPS 95 Pension Online
According to the circular of the Employees’ Provident Fund Organization, retired employees are also entitled to get more pension under the Employees’ Pension Scheme! Provided that for this they have to fulfill certain conditions. The Supreme Court had said in its decision in the year 2022 that even those employees whose salary is more (more than 15 thousand) can opt for pension scheme i.e. EPS! But such employees should not have been a member of EPFO before 1 September 2014. must have. This can be understood in two ways!
In the Employees Pension Scheme, such employees can also apply online and by visiting the regional office of EPF.
If retired before 2014… Employees who have retired before September 1, 2014! They also get the option of choosing higher pension. They will get the benefit of Employees Pension Scheme only then! When he already applied for higher pension! Yes and it has been approved by EPFO! If the Employees’ Provident Fund Organization has rejected it! So will have to apply again for more pension! Such employees can also apply online and by visiting the regional office of EPF.
Employees’ Provident Fund Organization
In the circular issued after 2014 by the Employees’ Provident Fund Organization in December 2022, such employees were not considered eligible for higher pension! Those who were members of the Employees Pension Scheme before September 1, 2014 but retired after this period! The Supreme Court did not make any such mention in its decision, after which EPFO had to issue circular again in February 2023! According to this, the employees who had opened PF account before 2014! Right to opt for higher pension even if they retire thereafter. Such employees will have to fill the Joint Option Form. It can be filled online by 3 May 2023 or offline by visiting the regional office of EPF!
There is a chance, but there is also a condition! The Supreme Court in its decision has given the option of choosing higher pension to the retired employees. But to get it a very difficult condition has to be fulfilled. Actually, after opting for EPS 95, the employer’s contribution to your EPF account reduces! employees who are still in service. It will be easy for them to contribute more in EPS and less in Employees Pension Scheme.
Employees Pension Scheme
It will also be easy to put the amount related to Employees Pension Scheme fund in EPS. But, those who have retired! They will first have to put a certain amount in the pension fund in that proportion, so that they can get more pension. It will depend on the service period of the employee and the amount of his basic and DA. However, this amount will come in lakhs of rupees! And if the retired Employees’ Provident Fund Organization employee has withdrawn money from his PF account! So it is not easy for him to put this amount in EPS.
Know this also:
PPF Scheme Investment 2023: PPF account is getting so much interest, know the complete information here