EPFO prepares to accept more requests for pension hike after SC ruling - News Summed Up

EPFO prepares to accept more requests for pension hike after SC ruling


In order to do so, the employees would have to route applications through their employers. In the meantime, EPFO seems to have geared up their machinery to meet the onslaught from several pensioners.In June 2017, EPFO circulated an internal circular to their regional offices asking them to keep a track of the pensioners whose pension pay orders (PPO) have been revised. If the contribution to the EPS account is increased with retrospective effect to give pension on full salary, a commensurate amount needs to be transferred from the individual's EPF account to the EPS account. Further, the interest earned by the money for the period it remained with EPF should also go to EPS. The EPFO rejected the demand claiming that their response should have come within six months of the 1996 amendment.


Source: Economic Times November 30, 2017 05:26 UTC



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