Increased PF pension | Employers get 5 extra months to course of functions

A senior EPFO officer stated that the extension wouldn’t impression the distribution of upper pension. File
| Photograph Credit score: The Hindu

The Workers’ Provident Fund Organisation (EPFO) on Wednesday prolonged the time for employers for importing and submitting the joint choices of staff to say greater pension with their wage particulars on-line until Might 31. That is the fifth extension for the method, which was initiated to implement the Supreme Courtroom verdict on the matter delivered on November 4, 2022. The choice was taken by Labour Minister Bhupender Yadav, the Union Labour Ministry stated in a launch. 

A senior EPFO officer instructed The Hindu that the extension wouldn’t impression the distribution of upper pension. The officer stated the disbursement had already began wherever the retired subscribers had deposited the demand quantity calculated by the EPFO primarily based on their greater wages. 

The EPFO had began an internet facility for submitting functions for validation of choice and joint choices for pension on greater wages on February 26, 2023 until Might 3, 2023. The restrict was prolonged to June 26, 2023 and later 15 days have been additional given to take away any issue confronted by the eligible pensioners and members. “About 17.49 lakh functions for validation of choice / joint choices have been acquired from pensioners / members until July 11, 2023,” the Ministry stated, including that greater than 3.6 lakh joint choices have been nonetheless pending with the employers for processing.

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Workers and Employers’ associations had sought extension of interval for importing wage particulars of applicant pensioners / members. The employers got additional interval of three months to submit wage particulars and so forth. on-line newest by September 30, 2023. “This time was additional prolonged until December 31, 2023 as a result of many representations have been acquired from staff and employers’ associations whereby requests have been made to increase additional time interval for importing wage particulars of applicant pensioners / members,” the Ministry stated, justifying the choice to provide yet one more extension.