Higher PF pension option extended till May 3

NEW DELHI: EPF members before 1st September 2014 can claim a higher PF pension in accordance with the salary before May of this year. For this option, the EPFO website opened a link (https://unifiedportal-mem.epfindia.gov.in/memberInterface) that can be easily accessed.

The members will have the option to contribute 8.33% of their basic salary towards the employee pension scheme.

From 1995 November to 2001 May, the salary was capped at Rs 5000 and the pension at Rs 417. However, after 2014, the mandatory change was made and the salary was extended to Rs 15,000 while the pension at Rs 1250.

If you are opting for a higher pension scheme, the amount to be paid in EPS will also increase. If you opt for the higher pension option then the EPFO will retrospectively deduct the amount from your PF account towards EPS from your joining date or November 1, 1995, whichever is later.