EPFO: Until May 31, 2024, employers may input wage information for a greater pension

EPFO: Until May 31, 2024, employers may input wage information for a greater pension

EPFO: Until May 31, 2024, employers may input wage information for a greater pension

As per the official announcement, the employers have still to complete over 3.6 lakh applications for verification of choice or combination option.

Up till July of last year, a total of 17.49 lakh applications from seniors were received.

The deadline for companies to upload wage information, etc., in relation to pensions on higher incomes has been extended by five months, until May 31, 2024, according to a statement released by the central government on January 3.

The Employees' Provident Fund Organization (EPFO) made this capability available for the submission of applications for joint or option verification for pension at higher pay. After a Supreme Court ruling in November 2022, this window was made available and has since received further extensions.

It was only intended to be accessible until May 3, 2023, when it was first introduced on February 26, 2023. To provide eligible individuals the full four months of time, the deadline was extended to June 26, 2023, in consideration of the employee representations. Members and pensioners for submitting applications.

As per the official announcement, the employers have still to complete over 3.6 lakh applications for verification of choice or combination option. Up till July of last year, a total of 17.49 lakh applications from seniors were received. "Therefore, a further extension of time has been made granted for companies to upload salary details etc. online till May 31, 2024," added the statement.