The eligibility criteria for higher pensions have recently been made clear by the Employees' Provident Fund Organization (EPFO). The Provident Fund (PF) regulator released a circular clarifying the qualifying requirements in response to the Supreme Court's judgment.
Conditions for employees to qualify for more pensions, as well as online application instructions. The EPFO further noted that the Supreme Court's ruling must be implemented by fund officials within eight weeks. The EPFO circular specifies the criteria for employees to be eligible for a higher pension as well as the application process.
What are the eligibility criteria for a higher pension?
According to EPFO, the following subscribers qualify for a higher pension:
Members who, while EPS-95 members, exercised the joint option under the pre-amendment scheme's Employees' Pension Scheme (EPS).
Those who used this option were rejected by EPFO.
Proof of transfer into a provident fund account, if any, for higher pay above the standard salary ceiling of Rs. 5,000 or Rs. 6,500.
Written denial of such a request or payment from the APFC or any other senior EPFO authority.
What are the documents required to apply for a higher pension?
EPF members must visit the proper regional EPFO office and submit the required application and supporting paperwork. Here is a detailed instruction:
The application will be delivered in the format and way the commissioner specifies.
The validation application form will include the disclaimer that is needed by the government notification.
The pensioner will give one explicit agreement in the application form in the event that a share needs to be adjusted from the provident fund to the pension fund.
The transfer of funds from an exempted provident fund trust to an EPFO pension fund requires an agreement from the trustee.
What is the process after application submission?
According to the circular, the Regional PF commissioner, who is the EPFO authority, shall handle the application once it has been submitted by an eligible pensioner as follows:
Each application will be registered and logged digitally. A receipt number will be supplied to the applicant.
The application will be sent to the employer's login, where an e-signature must be added before it may continue.
RPFC will attempt to turn every application into an electronic file.
The concerned dealing assistant will review the documents, including the receipt of the late sum in the pension fund note, and send the matter to the section supervisor/account officer.
To the AFPC/RPFC-II, who will assess the case and refer it to the Officer-in-Charge of the Regional Office, the concerned SS/AO will draw attention to any discrepancies and send them together with the rule position.
Each higher salary pension case must be examined by the Officer in Charge, who will then issue a speaking order and notify the applicant through email or postal mail. There will be an attempt to call or SMS them to alert them.
