After the hot Best Court docket ruling, there was once an enormous confusion amongst many EPF subscribers relating to eligibility. To steer clear of all of the confusion, just lately EPFO launched a round the place it’s obviously discussed the eligibility for EPS upper pension.
On this article, I’m simply concentrating at the eligibility for EPS upper pension fairly than different issues. Basically as a result of EPFO has to nonetheless transparent many doubts and I’m hoping that quickly we will be able to get the notification on this subject.
The notification is long. Then again, to simplify your lifestyles, I’m highlighting the details.
Eligibility for EPS Upper Pension
Allow us to be aware of the 3 primary stipulations of this notification. Let me proportion the notification right here.
Now, let me simplify the above strains on your working out. Do needless to say a majority of these 3 stipulations must be fulfilled.
# As you can be conscious that there are few employers who limit their contribution most effective to twelve% of your wage (Elementary+DA) or 12% of your precise wage (Elementary+DA). In case your employer had contributed 12% of your precise wage, then most effective you might be eligible for the next pension.
# All over the first Sept 2014 modification to EPS, there was once a provision to present a joint declaration for upper pension. Those that gave a joint declaration throughout that point or no longer, are all by means of default eligible for upper pension. (Para 11(3)).
# You will have to be a member of EPF ahead of 1st Septmber 2014 and in addition after 1st September 2014. If you’re retired from employment or withdrew your EPS ahead of 1st September 2014, then you definately don’t seem to be eligible for a similar.
There may be nonetheless a large number of rationalization to be required like the shape to be stuffed and in addition the volume to be transferred. We need to look forward to EPFO readability on this regard. As of now, you will get readability in regards to the eligibility for EPS upper pension.