EPFO Issues Notices To 1.65 Lakh Members For Higher Pension Contributions

The Employees' Provident Fund Organisation asked 1.65 lakh eligible members to deposit additional funds to earn higher pensions, the government informed the Parliament earlier this week.

Shobha Karandlaje, Minister of State for Labour and Employment, said 17,48,768 applications were submitted by EPFO members and pensioners seeking higher pension benefits under the Employees' Pension Scheme. The scheme gives members a chance to receive a higher pension by contributing a higher amount during their service period.

As of Jan. 28, EPFO has issued demand notices in 1,65,621 cases, informing members about the balance amounts required for the higher pension eligibility. Further, 21,885 pension payment orders have been processed and issued.

The minister said that the resolution of pending cases is being closely tracked. Clarifications have been provided to field offices to speed up the processing of applications.

The pension on higher wages is being administered based on the Supreme Court's decision dated Nov. 4, 2022. To facilitate the process, EPFO introduced an online system for filing validation and joint option applications.

This facility was made to accommodate the members, pensioners, and employers on Feb. 26, 2023, with the deadline extended multiple times. The first extension was made until Jul. 11, 2023. Then for employers to submit joint applications, there was an extension made till Sep. 30, 2023, and then later until May 31, 2024.

In a final extension, employers were given one final opportunity to forward applications for pensions on higher wages by Jan. 31, 2025.

According to the organisation, the final deadline in January was the final opportunity for employers to ensure that they process and upload these pending applications.