EPFO rule change
EPFO has now allowed subscribers to go beyond the pensionable salary capped at Rs 15,000 a month on which employers deduct a sum equal to 8.33% of the ‘actual basic salary’ towards pension under EPS, the deadline for which is ending on May 3, 2023 more
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Provided you have opted for this enhanced pension and contributed or your appeal or request was denied at that point. In 1995 itself, employees were given chance to opt for enhanced pension by contributing his/her PF contribution. However, almost 99% plus of employees did not opt for it and the employers also never encouraged this. Main reason was that the employee population did not understand nor the employer made them understand. But after understanding the scheme, option was not given & time lapsed. However, in a similar scenario, bank employees were given option to go in for pension scheme by refunding their PF contribution received at the time of retirement to get pension. Will the government do it for private sector employees ? more
May 05
i have retired in 2014 and I am getting a princely sum of Rs.1450 towards monthly pension from EPFO. can the new rule of increased pension help me increase my pension amount? more
May 03
yes it needs to increased since still there are lot of clarity needed.govt/court takes years to give the ruling whereas want people to finalise it within a space of months It is hard on the people who have retired since they may not be in town and getting information is not easy more
May 03
