EPFO to introduce online facility for higher pension

The Employees’ Provident Fund Organisation (EPFO) will soon launch an online facility to opt for higher pension by those subscribers who were in service before September 1, 2014, and continued to be in service but could not exercise the joint option. “…online facility for filing joint option is coming soon,” the EPFO said on its website on Friday.

This follows a February 20 circular by the retirement fund body outlining the procedure for such employees to opt for higher pension under the Employees Pension Scheme. It had stated that a facility for filing joint option will be provided for which a URL will be informed shortly. Subscribers will have to file a form with proof of remittance of employer’s share in the provident fund on wages higher than the then prevalent wage cap of `5,000 and `6,500 per month as well as proof of joint option verified by the employer.

The EPFO has just about 10 days till March 3 to comply with the Supreme Court ruling of November 2022 which provided a four-month window to enable eligible subscribers to opt for the higher pension under the EPS. With concerns over how employers and employees will make the required filings in the short timeframe, there is expectation that the EPFO may extend the window for making submissions.