EPFO: Will the hope of getting more pension end? 5 lakh people may get a shock..

If are you also hoping to get more pensions from the Employees Provident Fund Organization (EPFO), then soon your hopes may be dashed. As per the order of the Supreme Court, EPFO ​​has started giving more pensions to the people. But about 5 lakh people may be deprived of this, because their application for a high pension may be rejected. What is this whole matter?

In November 2022, the Supreme Court of the country ordered EPFO ​​to provide the option of higher pensions to its subscribers. After this, EPFO ​​​​fixed the rules and procedures for this and now has started issuing payment orders for this. So far more than 21,000 payment orders of high pension have been released. Payment orders for the remaining 1.65 lakh people are expected to be issued soon. But 5 lakh people are likely to be affected.

These 5 lakh people may face the wrath

EPFO says that a large number of its subscribers are those who work with employers who manage the employees' provident fund and pension fund money themselves. Most of these are trust-based companies, which get an exemption from EPFO ​​to manage the fund. In such a situation, the hopes of these people for higher pensions may be dashed. There are about 1,552 employer organizations in the country, which work under this exemption of EPFO. Most of these are private-sector organizations.

According to media reports, due to the order of the Supreme Court, EPFO ​​has received applications from more than 7.21 lakh employees for higher pensions. But EPFO ​​can reject more than 5 lakh applications from this. This is about 65 percent of the total applications. Most of these applications may be from trust-based employers because there are no clear rules and regulations for this. These do not come under the current rules of EPFO ​​for higher pensions.

Eligibility to get higher pension

The first condition among the eligibility to get a 'higher pension' from EPFO ​​is that your EPFO ​​membership should start after 1 September 2014. Or even if you are already a subscriber of EPFO, your subscription should continue even after 1 September 2014.

At the same time, the government had informed in the Lok Sabha that pensioners have applied for higher pensions under EPFO's Employee Pension Scheme-1995 (EPS-95). EPFO ​​received overall 17,48,768 applications. Out of these 17.48 lakh applications, till January 28, 2025, demand notice i.e. notice to deposit the remaining amount for high pension has been sent to the members in 1,65,621 cases.

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