EPFO gives firms until December 31 to input the necessary information for the higher pension option

 EPFO gives firms until December 31 to input the necessary information for the higher pension option

Upon the request of Employers & Employers' Associations, the labour ministry has extended the deadline for uploading wage information, which was set to expire on September 30.

Employers have been given three extra months, through December 31, 2023, to enter wage information related pension on higher salaries. Upon the request of Employers & Employers' Associations, the labour ministry has extended the deadline for uploading wage information, which was set to expire on September 30.

"Now, again, several submissions have been made by Employers & Employers' Associations asking for an extension of the deadline for uploading the wage information of application pensioners / members. As of September 29, 2023, 5.52 lakh applications for the validation of options or joint options were still pending with employers, according to the labor ministry.

Therefore, the Central Board of Trustees Chairman compassionately evaluated the proposal and extended the deadline for employers to submit wage information, etc. until December 31, 2023.

In response to requests made by Employers & Employers' Associations to extend the deadline for uploading wage information for application pensioners / members, the Employers were also given a further three months to submit wage information etc. 

By September 30, 2023, at the latest, it said.

As many as 17.49 lakh applications from retirees and members for the validation of options and joint options were received up until July 11, 2023.

The Employees' Provident Fund Organization (EPFO) previously provided an online platform for submitting Applications for Validation of Option / Joint Options for pension on higher earnings, according to a statement from the labour ministry.

The facility, according to the announcement, will be open to qualified retirees and members on November 4, 2022, in accordance with the Supreme Court's order.

Launched on February 26, 2023, the facility was only intended to be used through May 3, 2023.Nevertheless, it added that taking into account the employee concerns, the deadline was extended to June 26, 2023 in order to give eligible pensioners and members a full four months to file applications.

Further, a last window of 15 days was provided to help the qualifying pensioners and members with any problems.