Will EPFO Extend Deadline To Opt For Higher EPF Pension? Here’s What Experts Say

The EPFO department may have to accept applications post the deadline in cases where sufficient reasons for delay are provided.

New Delhi: The last day to apply for higher pensions at EPFO is June 26, 2023, but many people are still unsure about applying for the higher EPS option, which is why many experts are saying that EPFO might extend the deadline to opt for higher pensions for the third consecutive time. However, the chances are less as EPFO has already extended the date twice.

What Experts Are Saying:

“Since the EPFO department has considerably delayed the clarifications on the application process and computation of a higher pension, with the most recent circular issued on June 14, the department will have to extend the last date for submission (June 26). In fact, the department may have to accept applications after the deadline in cases where sufficient reasons for delay are provided”, Sanket Jain, Partner, Pioneer Legal, was quoted as saying on Business Today.

“Even though the EPFO has clarified that the additional contribution of 1.16% would come from the employer’s share, there is still no clarity on the sourcing of these contributions where the employer has already wound up business. Further, there are also cases where the relevant data is either not available with the last employer or is not traceable due to the business having transferred or merged with other entities. Given these issues, one can reasonably expect a possible extension in the timeline of June 26, 2023”, one more expert named Kriti Kaushik, Partner, Shardul Amarchand Mangaldas & Co., told Business Today.

Applying For A Higher Pension From EPS? Check Eligibility

According to a Supreme Court decision, only two groups of employees are qualified to apply for the higher pension from EPS:

1. Those who were members of EPF and EPS on September 1, 2014, and remained so after that date.

2. Those who retired before September 1, 2014, and had opted for a greater pension but had their applications disallowed by EPFO authorities.

Documents Required For Applying

Certain documents must be submitted in the online application form. For example, you must preserve your Universal Account Number (UAN), Pension Payment Order (PPO) number for pensioners, documentation of payments paid to the EPF account above the wage ceiling limit, and etc, as reported in the Economic Times.