Employees’ Provident Fund Organisation has extended the deadline to apply for a higher pension until July 11, 2023. The higher pension amount will be decided based on the pensionable salary and total service period of the employee.
The last date to apply for the higher pension under Employees’ Pension Scheme has been extended by the Employees’ Provident Fund Organisation (EPFO) until July 11, 2023. As the deadline to apply for higher pension is approaching, it’s advisable to complete the application process as soon as possible.
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However, a lot of people are still unaware of their membership status, and to access the full range of pension benefits, it is essential to verify EPS membership status.
Notably, this is the third time that EPFO has extended the deadline to apply for a higher pension, and another extension for the same may not be allowed.
How to check EPS membership
The Government backed Employee Pension Scheme, administered by the EPFO, offers retirement benefits to employees in the private sector. The scheme provides pension benefits to eligible employees after their retirement. However, to access the full range of pension benefits, it is essential to verify EPS membership status.
Read More: All you need to know about higher EPS pension calculation formula, rules, documents, and more
Employees can check the status of their EPS membership by following the steps below.
Step 1: Visit the official EPFO website at www.epfindia.gov.in
Step 2: Click on the “Our Services” section, on the homepage.
Step 3: Tap on the “For Employees” button under the “Our Services” section, and then click on the “For Employees” option.
Step 4: Click on “Know Your EPF Balance. Then, on the “For Employees” page, navigate to the “Know Your EPF Balance” option and click on it. This service enables individuals to access their EPF balance, which includes EPS membership status.
Step 5: Now, you need to enter your Universal Account Number (UAN). Additionally, provide your registered mobile number and other necessary information as prompted.
Step 6: After entering the required details, the EPFO portal will automatically send a One-Time Password (OTP) to the registered mobile number.
Step 7: Enter the OTP in the designated field to proceed further.
Step 8: Now, the EPFO portal will appear on the screen, showing the EPF balance along with EPS membership status.
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Know the eligibility criteria for higher pension under EPS
To be eligible for a higher pension under the Employee Pension Scheme (EPS) individuals must fulfill certain criteria. These eligibility requirements include:
1. Minimum Service Period: Individuals should have completed a minimum of 10 years of pensionable service, which is determined by the duration of contributions made towards the Employee Provident Fund (EPF) during employment.
2. Age at Pensionable Service: The age at which an individual begins their pensionable service plays a role in determining the pension amount. According to a Supreme Court judgment, if an individual was a member of the EPS on September 14, 2014, then the individual is eligible for a higher pension under the EPS.
3. Contributions to the EPS: Regular contributions made by both the employer and employee to the EPS are essential for eligibility.
4. Date of Joining the EPS: The date of joining the EPS determines the applicable pension calculation formula. Different methods have been implemented over the years, and individuals who joined before September 2014 may be eligible for a higher pension based on the previous calculation method.
