The Employees' Provident Fund Organisation (EPFO) has made a significant move by extending the deadline for employers to upload wage details for higher pensions. This final opportunity, announced on December 18, 2024, allows employers until January 31, 2025, to upload wage details for over 3.1 lakh pending applications for Pension on Higher Wages.
The EPFO has also requested employers to submit replies or update the information in 4.66 lakh cases by January 15, 2025, where clarification has been sought by the organization. This decision comes after it was observed that despite numerous extensions, more than 3.1 lakh Applications for Validation of Options/Joint Options were still pending with employers.
The EPFO has received numerous representations from employers and employers' associations requesting further extensions for uploading wage details of applicant pensioners/members.
In response to these requests, the EPFO has provided multiple opportunities for employers to submit wage details online until September 30, 2023, then again until December 31, 2023, and finally until May 31, 2024.
The EPFO launched an online facility on February 26, 2023, for submitting Applications for Validation of Options/Joint Options for pension on higher wages. This facility was made available in compliance with the Supreme Court order dated April 4, 2022, and was initially intended to remain available only until May 3, 2023.
However, considering the representations of the employees, the time limit was extended to June 26, 2023, providing four months' time to eligible pensioners/members for filing applications.
A final opportunity of 15 days was further given to remove any difficulty faced by the eligible pensioners/members. Consequently, the last date for submission of Applications for Validation of Option/Joint Options by employees was extended to July 11, 2023. By this date, a total of 17.49 lakh Applications for Validation of Option/Joint Options were received from pensioners/members.
This move by the EPFO is significant as it provides employers with a final opportunity to upload wage details for higher pensions. It is crucial for businesses to stay compliant to maintain their financial and reputational standing. The extension of the deadline is a response to the numerous representations received from employers and employers' associations, highlighting the need for further time to upload wage details of applicant pensioners/members.
