EPFO Alert: EPFO extends deadline to apply for higher pension till June 26

EPFO Alert: In order to enable all eligible persons to file their applications, EPFO on Tuesday extended the date for filing applications to opt for a higher pension till June 26, 2023. Members of the Employees' Provident Fund Organisation (EPFO) can apply jointly with their employers till the extended deadline, by choosing the option of higher pension (EPFO Higher Pension) on the Unified Members' portal of the EPFO site. 

Earlier, the last date for opting for higher pension was May 3, 2023. So far, EPFO ​​has received more than 12 lakh applications for higher pension.

Supreme Court's previous deadline

Earlier, the Supreme Court had said in its order on November 4, 2022, that EPFO ​​would have to give four months to all eligible members to opt for higher pension. This four-month period ended on March 3, 2023. 

Impact on pension

EPFO had earlier released the complete details of this process. It was told that the shareholders and their employers can jointly apply for higher pension under the Employees' Pension Scheme (EPS). In November 2022, the Supreme Court upheld the Employees' Pension (Amendment) Scheme, 2014.

Earlier, the EPS revision of August 22, 2014 increased the pensionable salary limit from Rs 6,500 per month to Rs 15,000 per month.

Also, members and their employers were allowed to contribute 8.33 per cent of their actual salary to the EPS.