Higher Pension Scheme 2023 Latest News

Higher Pension Scheme 2023 :The Employees’ Provident Fund Organisation (EPFO) has granted an extension for employers to submit wage details related to the higher pension scheme. The Central Board of Trustees (CBT) decided to extend the deadline after considering representations from various associations. Here are the key details:

Extension of Deadline,Higher pension Scheme online apply,

  • Initially, EPFO introduced an online facility for eligible pensioners/members to submit applications for the validation of pension on higher wages. This move was in compliance with a Supreme Court order from November 4, 2022.
  • The online facility was launched on February 26, 2023, with a deadline of May 3, 2023.
  • Due to representations from employees, the deadline was extended to June 26, 2023, providing a total of four months for eligible pensioners/members to file their applications.
  • Subsequently, a final 15-day extension was granted to address any difficulties faced by eligible pensioners/members. As a result, the last date for submission of applications was extended to July 11, 2023.
  • As of July 11, 2023, a total of 17.49 lakh applications for the validation of options/joint options had been received from pensioners/members.
  • In response to requests from employers and employers’ associations to extend the time period for uploading wage details of applicant pensioners/members, employers were given an additional three months to submit wage details online, with a new deadline of September 30, 2023.
  • Currently, 5.52 lakh applications for the validation of options/joint options are still pending with employers as of September 29, 2023.
  • Considering the continued representations and requests, the Chairman of the Central Board of Trustees has extended the deadline for employers to submit wage details and related information until December 31, 2023.

This extension offers employers and pensioners/members more time to comply with the requirements of the higher pension scheme, ensuring a smoother process for all parties involved.

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