Higher Pension Application Form PDF, EPF Option Forms Download: Recently, the Government has made a crucial announcement regarding the Higher Pension Scheme. Currently, as per the EPFO norms, a person will be eligible for the Pension at 8.33% of the salary, if the salary is Rs. 15000/- or below. There was a revision in the salary cap from 6,500/- to 15,000/-. However, several employees whose pension scheme got approval under the old policy are also now eligible for the new norm. It implies that after retirement, they can apply for a higher pension scheme, subject to certain rules and regulations.
As per this scheme, employers and employees can apply for the new form jointly. It will bring them under the purview of the same rule, without any discrepancy. They have to follow the new process under the Employees’ Pension Scheme and apply for a larger pension amount. Know about the details related to this new criteria and check the process to Download the Higher Pension Application Form PDF here.
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About Higher Pension Application Rules And Regulations
Interested subscribers or employers can download the Higher Pension Application form from the official website of EPFO. However, the option applies only to current employees. People who were under employment as of September 2014 can also apply. Therefore, employees who have already retired before September 2014, cannot apply for a higher amount now. They will continue to receive the pension under the old scheme.
Employees’ Provident Fund Organization or EPFO has come up with a new pension scheme, approving a higher salary cap. This is to benefit the existing employees who could not opt for the higher amount earlier. Previously, the employees were eligible for the EPS scheme up to a maximum of 6,500/- pensionable salary. However, in 2014 the Government enhanced this limit and declared the maximum cap to be 15,000/- to get the EPS option. But many people failed to come under the purview of the new scheme. So, the Government of India, this time, keeping in mind the interests of the employees, has formulated the new policy. Here we have provided you with all the information about Higher Pension Application Form PDF, and EPF Option Forms Download in detail. So stay with the article till the end.
All About Higher Pension Application New Form
Filling up the new form is essential to come become eligible for the scheme. You can get the form directly from the EPFO website and submit it online or download the PDF version from the EPFO website for later submission. (https://www.epfindia.gov.in/site_en/index.php ).
Submission of the same form with proper signature ensures giving the request to the fund for the higher pension. It implies a deduction of 8.33% of the actual salary. The amount of salary will be as per the current remuneration or which was prevailing during employment on September 2014. Therefore, under this new EPS scheme, the applicants will start receiving a pension on a higher salary. It will also result in higher corpus accumulation.
Procedure to Apply for Higher Pension Scheme 2024
There is a particular process for availing of the higher scheme option. Please read the steps below for a convenient application procedure.
- Interested subscribers must apply for the new scheme jointly with employers.
- It is mandatory to submit the application form as the EPFO Commission prescribes
- The applicants must upload the said form digitally on the EPFO platform
- EPFO will provide a separate URL facility for convenient submission of the form
- Confirmation of the switching to the new policy will come through the registered email id. Moreover, the applicants will also receive an SMS for such confirmation on the registered phone number.
If you want to know more updates about the EPFO schemes and other related policies, please keep a check on our website. The Regional PF Commissioner will soon be making more announcements regarding the same.
In case of any due contribution payment or other grievances, the employers or employees can lodge their complaints on the EPFiGMS portal (Grievance Portal). Registration of such concerns can be uploaded after the successful submission of the joint option form.
Download the Higher Pension Application Form PDF
To download the Higher Pension Application Form PDF, you have to click on the link given below. On clicking, a PDF form will open in front of you. From there you can easily download and use the Higher Pension Application Form.
Eligibility For The New Scheme
The criteria related to the eligibility for submitting the joint form under New Scheme are below. All these points are present in the new Circular of the EPFO.
- The applicants must be members of EPFO before September 2014. They must have continued their employment after that date.
- Employers and Employees failed to register themselves jointly under the new scheme in previous times.
- Contribution on salary from the concerned employees and employers exceeded the ceiling limit of Rs 5,000/- or Rs.6,500/-, as the case may be.
EPF Option Forms Download
The EPFO launched this revised rule with a new set of guidelines in compliance with the Supreme Court’s latest order. The primary motive behind the scheme is enabling the old subscribers to receive a higher pension, as per the revised scheme, declared earlier. Therefore, it is a great step for the Government to facilitate the Pensioners.