EPFO's ultimatum for higher pension, said- upload documents within the deadline:To apply for pension on higher salary, the government is giving the opportunity to submit documents online. EPFO says that this is the last chance being given to the companies because despite several extensions, it has been observed that many applications are still pending with the companies for validation. Many organizations have requested to extend the deadline for uploading details.

New Delhi. The Employees' Provident Fund Organization (EPFO) has 3.1 lakh applications pending for higher pension. The EPFO has now extended the deadline for companies to share salary details on online platforms till January 31, 2025.EPFO is providing an opportunity to submit documents online to apply for pension on higher salary. EPFO has also asked companies to respond or update information in 4.66 lakh cases for which clarification has been sought.

Why did EPFO extend the deadline

EPFO says that this is the last chance being given to the companies, because despite several extensions, it has been observed that many applications are still pending with the companies for validation. Many companies and organizations have also requested to extend the deadline for uploading salary details.EPFO started this facility on February 26, 2023. It was to end by May 3, 2023. Then employees and companies were given an additional four months to file the application and the deadline was extended to June 26, 2023. Now they have been given the last chance.

The Supreme Court, in one of its decisions on November 4, 2022, had asked to give the option of giving pension to the employees on higher salary. After that, EPFO started this whole process.

PF account holders will get special facility

Members of the Employees' Provident Fund Organisation (EPFO) and Employees' State Insurance Corporation (ESIC) will soon be able to use their claim money through e-wallet. Responding to a question on withdrawing PF money from ATM, Sumita Davara, Secretary, Union Ministry of Labour and Employment, said that insured persons and contributors are very interested in how they can withdraw their money easily.In cases of auto settlement, the money goes to the bank account and members can withdraw it from any ATM at present. He said that now you are talking about how the claim amount can go directly to the wallet or something else. A mechanism has to be created for this. For this, we have started talking to the banks.

He said that we are also making a plan for how we can implement it practically. At present, EPFO has about seven crore active members. EPFO is developing the necessary IT infrastructure to simplify the process of withdrawing money from PF account. With this, PF account holders will be able to withdraw PF deposited money in less time.