EPFO's Online Facility To Submit Joint Option Form For Higher EPS Pension ‘Coming Soon'

The EPFO has announced that it will soon provide an online facility on the EPFO portal for employees to file a declaration opting for higher pensions jointly with their employers. A ticker on the EPFO website reads, Supreme Court Judgement dated 04.11.2022 in the matter Special Leave Petition (c) Nos. 8658-8659 of 2019. In accordance with the directive contained in paragraphs 44 (iii) and (iv) of the judgement (for employees who were in service prior to 01.09.2014 and continued to be in service on or after 01.09.2014 but were unable to exercise joint option under the erstwhile proviso to paragraph 11(3) of EPS-1995), an online facility for filing joint option will be available soon.

Documents required

To opt for a higher pension under the Employees Pension Scheme (EPS) 1995, a joint option form must be submitted. The form will include a declaration from both the employer and the employee in the future for a higher contribution to EPS equal to 8.33 percent of the actual wages per month.
The deadline for applying for a higher pension under the EPS is March 3, and the submission deadline is only seven days away. The EPFO issued guidelines on eligibility and application process for a higher pension for existing employees on February 20, 2023.
Prior to the 2014 amendment to EPS-95, eligible subscribers who contributed on actual wages greater than Rs 5,000 or Rs 6,500 per month prevalent threshold pensionable salary exercised their option for higher pension Prior to the 2014 amendment to EPS-95, eligible subscribers who contributed on actual wages greater than Rs 5,000 or Rs 6,500 per month prevalent threshold pensionable salary exercised or had their request for higher pension denied by EPFO authorities.

Seven days, including a weekend, is thought to be a rather short period for eligible employees to fully understand the requirements and collect the documents needed to apply for a higher pension.
According to the EPFO circular dated February 20, A facility will be provided, and the URL (unique resource location) will be informed as soon as possible. Once received, the regional PF commissioner will post an adequate notice on the notice board and place banners for wider public awareness.
Each application will be registered and digitally logged, and the applicant will be given a receipt number. It also stated that the officer in charge of the concerned regional provident fund office shall examine each case of a joint option on a higher salary and notify the applicant via e-mail/post and, later, SMS.
With only a few days until the deadline and a long list of documents to gather for submission, many employees would prefer a deadline extension.