EPFO extends deadline for employers to add pending pension functions
EPFO pension: The Staff’ Provident Fund Organisation (EPFO) has prolonged the deadline until January 31, 2025, for employers to add wage particulars, and many others concerning 3.1 lakh pending functions for pension on increased wages. Based on the Ministry of Ministry of Labour and Employment, this extension has been given after a number of requests from employers and their associations for extra time to finish the required submissions.
EPFO launched on-line facility in Feb 2023
A web-based facility for submitting functions was launched on February 26, 2023, by EPFO for submitting functions for validation of choices/joint choices for pension on increased wages, in compliance with the Supreme Courtroom’s order dated November 4, 2022.
The ability was to stay accessible solely until Could 3, 2023. Nonetheless, contemplating the representations of the workers, the time restrict was prolonged to June 26, 2023, with a view to present an entire 4 months time to eligible pensioners/members for submitting functions.
A final alternative of 15 days was additional given to take away any problem confronted by eligible pensioners/members. Accordingly, the final date for submission of functions was prolonged to July 11, 2023 and a complete of 17.49 lakh functions had been obtained from pensioners/members until July 11, 2023.
“In view of representations obtained from Employers & Employers’ Associations, whereby requests had been made to increase the time for importing the wage particulars, employers got a number of alternatives to submit wage particulars and many others. on-line until September 30, 2023, once more until December 31, 2023, and thereafter until Could 31, 2024,” it mentioned.
Ultimate alternative until January 31, 2025
Despite so many extensions, it has been noticed that greater than 3.1 lakh functions for validation of choices / joint choices are nonetheless pending with employers. Employers have confronted challenges in importing the required wage knowledge, prompting additional representations to increase the deadline.
Due to this fact, the ministry mentioned a “last alternative” is being given to the employers until January 31, 2025, to make sure that they course of and add these pending functions.
Along with the deadline extension for pending functions, EPFO has additionally requested employers to offer updates or clarifications in over 4.66 lakh circumstances the place extra data has been sought. Employers are anticipated to reply by January 15, 2025, to make sure that the method is accomplished easily and in compliance with the Supreme Courtroom’s directive.
This extension offers employers with the ultimate alternative to make sure all pending functions for pension validation are processed and uploaded, fulfilling their obligations underneath the Supreme Courtroom’s ruling.
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