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Hr NewsStatutory Compliance

EPFO prepares to accept more requests for pension hike after SC ruling

Source | https://economictimes.indiatimes.com : By Sunil Dhawan

In what appears to be a good sign for Employees’ Pension Scheme (EPS) members, the Employees’ Provident Fund Organisation (EPFO) is getting ready to process more requests for a hike in pension after it was forced to do the same for 12 petitioners following a Supreme Court order.

A landmark Supreme Court order of October 2016 directed the EPFO to revise the pension of the petitioners under EPS.

Expecting other pensioners to put in similar requests citing this judgment,the EPFO has given directions to its regional offices on how these requests are to be handled.

Following the SC order, it is expected that even other employees (who are members of the EPS) would soon start approaching EPFO to retrospectively enhance their contribution on higher salary in order to get a quantum jump in their pension. In order to do so, the employees would have to route applications through their employers. In the meantime, EPFO seems to have geared up their machinery to meet the onslaught from several pensioners.

How the EPFO is getting ready
In June 2017, EPFO circulated an internal circular to their regional offices asking them to keep a track of the pensioners whose pension pay orders (PPO) have been revised. “All offices are also required to forward a monthly return with respect to the payments made to pensioners on the actual (higher wages)”, in a specific format, said the circular.

Read On….

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