EPFO Pension Update : If you deposit money in Employees Provident Fund Organization (EPFO) and want to increase the pension you get through it, then this is special news for you. EPFO has given three months time to the employers to upload the salary details etc.
regarding pension on higher salary. Earlier the last date for submitting these details was 30 September. Now it has been extended till 31st December. However, as of September 29, 5.52 lakh applications were pending with EPFO . The option of taking higher pension/joint option had to be verified.
According to the Labor Ministry, 17.49 lakh applications have been received from pensioners/members for verification of option/joint option till July 11, 2023. Earlier, the Employees Provident Fund Organization had launched an online facility to submit applications for verification of option/joint option for pension on higher salary following the November 4, 2022 order of the apex court.
You can submit application online
According to the statement of the Labor Ministry, this facility for pensioners/members was started on February 26, 2023. Under this, the last date for submission of applications was May 3, 2023. However, later considering the request of the employees, the deadline for submitting applications for higher pension was extended till June 26, 2023.
Eligible pensioners/members were given a last opportunity of 15 days to remove any difficulties faced by them. Under this, the last date for submission of applications for verification of option/joint option to the employees was extended till July 11, 2023.
If you have not yet submitted the application for this, then there is no need to worry. For this you can apply online. For this you will have to go to EPFO website. According to the information given there, you will have to apply by providing documents online.
EPFO issued SOP
EPFO has issued a Standard Operating Procedure (SOP). By providing EPF account holders the facility to update their personal information, the number of claim rejections will also reduce and the risk of fraud will also reduce. By providing EPF account holders the facility to update their personal information themselves, the number of claim rejections will reduce. Besides, the risk of online fraud will also reduce.
If the information submitted to EPFO and the information filled in the claim form at the time of making the claim does not match, the claim gets rejected. But now EPFO has issued a circular saying that EPF members can correct or update 11 details. The information that can be updated includes name, gender, date of birth, father’s name, relationship, marital status, date of joining. Date of joining, reason for leaving, date of leaving, nationality and Aadhaar number are included.
Interest on PM will increase
There is an important news for provident fund account holders this month. It is being told that by the end of the month of August, the interest received on the deposits of the account holders will be deposited in their accounts. Giving a big gift to the account holders, the interest rates have been increased by the Central Government.
This year EPFO will give 8.15 percent interest on the deposited amount. But, to get this interest amount, everything must be fine in your account. If the details in the PF account do not match, you may be deprived of the interest amount. To get the interest amount, it is most important that the account is linked to the Aadhar card. If the UAN account is not seeded with Aadhaar, the money will not come to the PF account. Verification and seeding is mandatory to avail benefits.
