3 weeks ago
EPFO receives 15.24 lakh higher pension applications; 11,595 pending
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.
EPFO received 15.24 lakh applications for the higher EPS pension as of August 5.
11,595 cases remained pending across EPFO zones as of August 5.
Telangana (Hyderabad) logged the highest applications at 1,65,331, followed by Mumbai-1 at 1,26,444 and Maharashtra excluding Mumbai at 1,26,311.
Punjab and Himachal Pradesh reported the most pending cases at 3,004.
The higher pension option stems from the Supreme Court's November 4, 2022 judgment allowing contributions on actual salaries above the statutory wage ceiling.
- Who
- EPFO (Employees' Provident Fund Organisation), eligible EPS members, and Karandlaje, who spoke about the government's action.
- What
- Status update on the higher EPS pension: 15.24 lakh applications received and 11,595 cases still pending.
- Where
- Across EPFO zones in India; Telangana (Hyderabad) had the most applications, while Punjab and Himachal Pradesh had the most pending cases.
- When
- As of August 5, following the Supreme Court's November 4, 2022 judgment.
- Why
- To implement the Supreme Court judgment allowing eligible members who contributed on actual basic salaries above the statutory wage ceiling to opt for a higher pension.
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.”
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