Deadline To Choose Higher Pension Option Under EPS Ends Today, Check How To Apply
The deadline has already been extended three times after March 3.Before 2014, employees had the option to choose a higher EPS, but after an amendment that was released in 2014, the pension contribution cap was set at 8.33%.
The Employees Provident Fund Organisation (EPFO) has extended the deadline for employees to apply for a higher pension to July 11, 2023. Tuesday is the deadline to submit the joint application to increase their pension under the Employee Pension Scheme (EPS). EPFO will not accept any form after the deadline as it has already been extended three times after March 3, as stated by the Supreme Court of India earlier.According to the rules, 12% of the basic salary is deposited in EPFO, out of which 8.33% is for pension and 3.67% is for the provident fund (PF). Before 2...