 "EPFO gives employers till Jan 31 to submit pending forms for higher pension")
The Employees' Provident Fund Organisation (EPFO) has extended till January 31, 2025 the deadline for employers to process and upload pending applications for higher pension. This decision comes as 310,000 applications remain unprocessed after previous extensions.
The pension manager has set January 15 as the deadline for employers to submit replies and update information in 466,000 cases where it has sought additional clarifications.
The online facility for submitting applications for validation of options/joint options for pension on higher wages was initially launched on February 26, 2023, following a Supreme Court order in November 2022. While the original deadline was May 3, 2023, it was extended multiple times in response to stakeholder requests. The final submission deadline for employees was July 11, 2023, by which time 1.749 million applications were received.
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Employers were given several opportunities to upload wage details, with deadlines extended from September 30, 2023, to December 31, 2023, and then to May 31, 2024. However, the significant number of pending applications and continued representations from employers and their associations has prompted this final extension.
The new deadline will help to complete processing of pending applications and provide documentation for higher pension claims. The extension aims to address the substantial backlog while maintaining the integrity of the pension validation process.
The EPFO said it is essential for employers to upload accurate wage details and complete any outstanding validations promptly. Employees can track their application status through the EPFO Member Sewa portal using their acknowledgment number and other identification details.