Who is an eligible employee to apply for higher EPS pension?
The Supreme court in its judgement has specified which category of employees can apply for the higher EPS pension. As per the judgement, an employee is eligible for higher EPS pension if:
Member of EPS and/or EPF on September 1, 2014 and continued to remain the same after.
Retired prior to September 1, 2014 and was making higher contribution to their EPF account. However, their higher EPS pension request was rejected by the EPFO.
How to track status of EPS higher pension applications
When you finish the higher EPS application process on the EPFO portal, you will be sent an acknowledgment receipt. After you submit the form, the EPFO provides a URL to follow your application. You can follow the development of pension claims for higher income.
Step 1: Visit https://unifiedportal-mem.epfindia.gov.in/memberInterfacePohw/
Step 2: Click on ‘track status of EPS higher pension applications’
Step 3: In the next page, enter following details
PPO Number and Captcha code
Step 4: Click the check box to give consent to provide my Aadhaar Number, Biometric and/or One Time Pin (OTP) data for Aadhaar based authentication for the purpose of establishing my identity.
Step 5: Click on ‘Get OTP’.
What is the higher pension option?
When an employee chooses a greater pension option, they are choosing a higher employer contribution to the pension plan. The Provident Fund Scheme’s corpus decreases to the extent that employer contributions are distributed to the Pension Scheme based on increasing salaries.
Calculator for higher EPS pension
Employees’ Provident Fund Organisation (EPFO) has made an Excel utility-based calculator available for estimating the amount of dues that may need to be paid from one’s EPF balance or personal savings.
How to download EPFO’s Excel calculator for higher pension
An employee can get this calculator from the Member Sewa portal of the EPFO, by clicking on the pension application link. The calculator is available under the ‘Important links’ head. An employee must be aware of the date they joined the Employees’ Provident Fund (EPF)scheme in order to use this calculator. The wage amount from the employee’s date of EPF scheme enrollment or November 1995, whichever is later, must be entered.