EPFO calls CBT meeting to address pertaining Higher Pension issues
EPFO recently extended the deadline for employers to post wage details, etc., online by December 31, 2023, for pensions on higher wages.
EPFO calls CBT meeting to address pertaining Higher Pension issues
The Employees’ Provident Fund Organization (EPFO), one of the biggest social security organizations in the world, has requested that all board members attend the 234th CBT meeting on Tuesday, which is expected to discuss increased pension difficulties.
In regard to pensions on increased earnings, EPFO recently extended the deadline by three months for companies to upload wage details, etc., online by December 31, 2023.
Previously, until September 29, 2023, EPFO offered an online application system for filing applications for the validation of options or joint options for pension on increased salaries.
In accordance with the Honorable Supreme Court judgment dated November 4, 2022, EPFO made the facility available to qualified pensioners and members. Launched on February 26, 2023, the facility was only intended to be accessible until May 3, 2023.
However, taking into account the employee’s arguments, the deadline was extended to June 26, 2023, giving eligible retirees and members a full four months to submit applications.
Further, a last window of 15 days was provided to help the qualifying pensioners and members with any problems. As a result, the deadline for workers to submit applications for validation of options or joint options was moved up to July 11, 2023.
Employers were also given an additional three months to submit wage details, etc., online by the latest on September 30, 2023, in response to requests made by employers and employers’ associations to extend the period for uploading wage details of applicant pensioners and members.
After sympathetically considering the proposal, the Chairman of the Central Board of Trustees extended the deadline for employers to submit wage information, etc., until December 31, 2023.
According to sources from the Business Standard, it is anticipated that the 234th CBT meeting’s agenda may be met by Higher Pension.
According to reports, Executive Director Sougata Roy Choudhury stated, “The Supreme Court order on higher pensions has seen many delays and extensions, and the matter is still underway.”
“The CBT at the upcoming meet will be to draw out a strategy and a clear pathway for a smooth implementation of the same, as a number of pensioners are still facing troubles accessing the pension portal,” said Choudhury.
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