The Staff’ Provident Fund Organisation (EPFO) gives an internet facility for submitting wage particulars by employers for pensions on greater wages. The EPFO has prolonged the date to submit the wage particulars to January 31, 2025.
“A last alternative is being given to the employers until 31.01.2025 to make sure that employers course of and add these pending Functions for Validation of Choice / Joint Choices,” EPFO stated in an announcement.
Moreover, the EPFO has additionally requested employers to supply clarifications requested by EPFO by January 15, 2025, to course of the upper pension purposes.
The EPFO has requested for extra info or clarification on 4.66 lakh circumstances among the many purposes it has acquired.
Increased pension provision
In 2022, a Supreme Court verdict allowed present Staff’ Pension Scheme (EPS) members, as of September 1, 2014, to contribute almost 8.33 per cent of their salaries as pension.
Following the SC order, an internet facility was launched on February 26, 2023, to submit an utility for validation of choices or joint choices until Might 3, 2023. This time restrict was later prolonged to June 26, 2023, for eligible pensioners to fill out purposes. This date was additional prolonged to July 11, 2023. Round 17.49 lakh purposes have been acquired until July,2023.
The date for employers to supply the wage details was prolonged after requests from Employers & Employers’ Associations to increase the time interval for importing wage particulars of applicant pensioners/members.
Following this request, the deadline for submission of wage particulars was September 30, 2023. This was later prolonged to December 31, 2023, and later to Might 31, 2024, for employers to course of the purposes.
Regardless of these extensions, the EPFO has acknowledged that greater than 3.1 lakh purposes are nonetheless pending with the employers. Subsequently, the EPFO has prolonged the date of submission of wage particulars by employers to January 31, 2025.
