Blog

The Employees' Provident Fund Organisation (EPFO) has recently issued an important circular regarding Payment Method in Higher Pension. The circular, which was released on 09 May 2023.

Click here to read the notification

The Ministry of Labour issued a notification on May 3^rd, 2023 regarding the contribution of employers towards the Employees' Pension Scheme, 1995 for members who have opted to contribute jointly under paragraph 11 and are eligible. The employer's contribution will be increased by 1.16%, from the current rate of 8.33% to 9.49%, of the basic wages, dearness allowance, and retaining allowance of each member. This increased contribution will apply to basic wages, dearness allowance, and retaining allowance that exceed fifteen thousand rupees per month.

The employers who are hiring on cost to the company (CTC) basis has to redesign the CTC and need to work out the recovery/adjustment of extra amount paid/payable, if they want to, as the same is applicable w.e.f. September 1^st, 2014.

Click here to read the notification

The Centre has extended the time to submit joint options to claim higher provident fund pension till 26th June 2023. The deadline to submit the applications was on 3rd May 2023.

Link:  https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1921500#:~:text=The%20issue%20has%20been%20considered,till%2026%20th%20June%2C%202023

The Employees' Provident Fund Organisation (EPFO) has recently issued an important circular regarding Higher Pension for its members. The circular, which was released on 23rd April 2023, outlines the process of applying Higher Pension.

Click here to read the notification

The Employees' Provident Fund Organisation (EPFO) has recently issued an important circular regarding Higher Pension for its members. The circular, which was released on 25th January 2023, outlines the process of applying Higher Pension.

Click here to read the notification

The Employees’ Provident Fund Organisation (EPFO) issued a fresh circular on 20th February 2023, regarding the eligible employees for a higher pension. The EPFO had earlier issued a circular in December which provided that only the employees who had retired before 2014 after exercising the joint option under the pre-amendment Employees’ Pension Scheme (EPS) can claim a higher pension.

Click here to read the notification