Regional EPFOs are issuing notices to all employees to wait until EPFO further clarifies this aspect – SC opens a 4-month window for eligible employees under EPS to opt for increased pension
Contents News/Article Date: 10th November 2022
Relating to which Act The Employees Provident Funds & Miscellaneous Provisions Act, 1952
Applicable to which State: All the establishments in the States with PF coverage
Type: Supreme Court Hearing – final pronouncement of the Judgement – New Delhi: Eligible employees who had not opted for enhanced pension coverage prior to 2014 can jointly do so with their employers within the next four months after the Supreme Court upheld the Employees’ Pension (Amendment) Scheme, 2014.
RPFC RO – Trivandrum and other regional offices are issuing notices to employees eligible for enhanced pension to wait until further instructions are issued by EPFO HO.
Pertains to employers and employees
Relevance of this news: Karma Management Global Consulting Solutions Pvt. Ltd is in the business of Payroll, Outsourcing, and Regulatory Compliances since its inception in 2004 since then, has brought in a lot of efficiencies and technological upgradations with experts on its role, to ease the hassles of Payroll Processing, Temp Staffing On-boarding, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.
EPF Pension is a part of PF compliance, in this case, the high courts had allowed a pension in proportion to the salary above the ceiling limit of Rs. 15,000/- but later on the EPFO and Union government sought to review, and the matter was re-opened for hearing on merits and the verdict was pronounced on 4th November 2022 and one of the key points is as follows:
New Delhi: Eligible employees who had not opted for enhanced pension coverage prior to 2014 can jointly do so with their employers within the next four months after the Supreme Court upheld the Employees’ Pension (Amendment) Scheme, 2014.
As a consequence of the verdict given by the Supreme Court by opening the window for eligible employees under EPS to opt for increased pension, there are hundreds of queries being received by Regional EPFOs on this front and now the Regional EPFPOs are in turn issuing notices to all such employees who are approaching them for opting the increased pension, are being told to wait until they, in turn, receive further instructions from EPFO HO.
Karma Global will inform all its eligible employees wanting enhanced pensions to wait until this is clarified by EPFO HO.
Subject: Regional EPFOs are issuing notices to all employees to wait until EPFO further clarifies this aspect – SC opens a 4-month window for eligible employees under EPS to opt for increased pension
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