New Delhi EPFO has issued notification to provide option for higher PF pension commensurate with salary. Three categories of employees can apply online for this. Employees who have been paying contributions above the earlier salary limits of Rs 5,000 and Rs 6,500 for EPF contributions, those who were members of the 1995 pension scheme and did not opt for it, those who are still working and those who retired following September 2014, now have the opportunity to opt for it. The notification was issued on December 29 to give the option of higher PF pension to retirees. The application will soon be made available on the EPFO website to provide a joint option to all three categories of employees and employers. Applicants must login and enter the option. Each applicant will get a receipt number. Then, the application will be forwarded to the employer. Applications will be digitized by PF Regional Offices following the employer gives the option. The additional amount payable to the Pension Fund will be calculated during the inspections at the Regional Office. Applicants will be informed regarding the additional amount to be paid through e-mail and SMS. If the excess amount payable is to be transferred from the provident fund to the pension fund, permission will be sought for the same. Complaints will also be made available in writing. The EPFO has issued the notification more than 100 days following the Supreme Court verdict which paved the way for higher PF pension in less days. The Supreme Court directed that the procedure should be completed within four months. But now only 12 days are left for it. There are also fears that the system will crash when lakhs of employees and retirees try to apply online simultaneously. Lots of loopholes The circular issued by EPFO is full of ambiguity and loopholes. The circular was issued only on January 25, 2014 to ensure the option for those who retired before September 1, 2014. According to the circular, those who have retired following 2014 should also provide proof of joint option before retirement while applying for option. This requirement is once morest the Supreme Court order to give time to retirees following 2014 to give higher option. A member of the EPF Pension Advisory Committee Adv. S Krishnamurthy said. Protests and legal proceedings are ongoing across the country once morest the terms of the January 25 circular to review the terms of the January 25 circular to review the high court ruling for higher pensions for those who retired before September 1, 2014. However, EPFO is not ready to fix that mistake in the new circular either. Read on deshabhimani.com
