3 weeks ago

EPFO receives 15.24 lakh higher pension applications; 11,595 pending

EPFO receives 15.24 lakh higher pension applications; 11,595 pending
Higher EPS 95 Pension: EPFO received 15.24 lakh applications where cases are still pending · businesstoday.in

In India, many workers save money for their retirement through a special fund.

Some of these workers wanted to receive a bigger pension after they retired.

A top court said they could, if they had paid extra money into the fund based on their full salary.

More than 15 lakh people — over one and a half million workers — sent in forms to ask for the bigger pension.

The office that runs the fund, called EPFO, is checking all of these forms.

It has already checked most of them, but more than 11,000 forms are still waiting to be processed.

The most applications came from the state of Telangana, with over 1.6 lakh forms.

In some places, like Punjab and Himachal Pradesh, the most forms are still pending.

The government says it is working as fast as it can to finish checking every form.

Key facts

Applications received
15.24 lakh (as of August 5)
Pending cases
11,595
Highest applications
Telangana/Hyderabad — 1,65,331
Highest pending cases
Punjab & Himachal Pradesh — 3,004
Legal basis
Supreme Court judgment of November 4, 2022
Minimum service for EPS pension
10 years
Retirement age for pension
58
Employer EPS contribution
8.33% of basic pay, subject to wage ceiling

Quotes

Karandlaje

Government official overseeing EPFO operations

“EPFO has taken action to implement the Supreme Court's directions in a time-bound manner.”
businesstoday.in

Sources

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