How to track status of higher EPS pension application: About 97,000 EPFO members and pensioners across the country covered under the Employee Pension Scheme (EPS 1995) are waiting for pension on higher wages i.e. Pension on Higher Wages. This information has come to light quoting an old news. It was told in the report that this number is given by including people who have received 8,401 pension payment orders (PPO) and 89,235 demand notices. The report also stated thatDemand notices have been sent only to those found eligible for Pension on Higher Wages, in line with the Supreme Court decision in November 2022, forcing future eligible beneficiaries to transfer part of their dues. Used to be.What is the option of pension on higher salary in EPS? Let us know.
What is the option of pension on higher salary in EPS?
When an employee chooses the higher pension option, he chooses a higher employer contribution in the EPS pension plan. The corpus of a provident fund scheme is reduced to the extent that employer contributions are distributed into the pension plan based on salary increases. Employees who were members of EPF on September 1, 2014 can choose the higher pension option. The extra amount is kept in a separate pension fund, which gradually grows with interest. This increases the total pension amount.
How to check the status of EPS Higher Pension application?
About 97,000 PF members and pensioners across the country covered under the Employee Pension Scheme (EPS 1995) are waiting for higher pension. If you have applied then you can check the status with the help of the steps mentioned here.
You must have received a receipt after completing the application process for pension on higher wages under EPS on the official website of Employees Provident Fund Organization (EPFO). EPFO has provided a URL to check the application status after filling the form. If you have claimed for higher pension then check your application status with the help of these steps. Can check.
- First of all go to EPFO Member e Seva portal.
- Now scroll down the screen a bit and click on Track application status for Pension on Higher Wages visible on the left side.
- Now fill the required details like Acknowledgment number, UAN, PPO Number and captcha code.
- Click on the check box to give consent to provide Aadhaar number, biometric or One Time Pin (OTP) data for Aadhaar based authentication for the purpose of establishing your identity.
- Now click on the ‘Get OTP’ button.
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What is the formula for calculating pension?
Pension will be calculated as per paragraph 12 of EPS 95. A specific formula forms the basis for calculating pension, and it requires date of commencement of pension, pensionable salary and pensionable service.
