The Employees' Provident Fund Organisation (EPFO) has extended the deadline for employers to submit salary details online for higher salary pension. Pensioners now have until January 31, 2025, to submit these details. In a statement, EPFO stated that employers are being given a final opportunity to process and upload pending applications for the verification of pending and joint options by the new deadline.
Buying old electric and small cars will become more expensive as the Goods and Services Tax (GST) rate is set to rise from 12% to 18%. Meanwhile, the EPFO has requested additional information or clarification in approximately 4.66 lakh cases from the applications received so far. Additionally, over 3.1 lakh applications are still pending with employers.
In 2022, the Supreme Court allowed existing members of the Employees' Pension Scheme to contribute 8.33% of their salary as pension until September 1, 2014. Following this ruling, an online facility was launched on February 26, 2023, enabling members to apply for the verification of options or combined options. The deadline for submitting applications was initially set for May 3, 2023, and was later extended multiple times—first to June 26, 2023, then to July 11, 2023. By July 2023, about 17.49 lakh applications had been received.
At the request of employers and their associations, the Employees' Provident Fund Organisation (EPFO) had extended the deadline several times. Originally set until September 30, 2023, the deadline was later moved to December 31, 2023, and then to May 31, 2024. Despite these extensions, the application process has been slow. In response, EPFO has now extended the deadline for submitting salary details to January 31, 2025.