The EPFO had kept the deadline to apply for higher pensions till July 11. Following this, it gave further three months to employers till September 30 and then another extension till December 31, while employees were given time till July 11 to submit their applications.
After 20 years, when people with age below 40 years will reach closer to their retirement, the interest rate is likely to be much less than what is currently available. Most people would need to figure out whether they will need to save more money so that they can accumulate higher retirement corpus. We tell you why you do not need to panic much about this.
For those who will retire in the future, say in 2030, the EPFO said the pension will be calculated based on the provisions of EPS, 1995 that will “exist as on the date of the commencement of pension”.
The EPFO extended the deadline for employers to upload wage details for higher pension applications, following a request from an association. - EPFO Exends Deadline For Employers To Validate Joint Forms: Here s The New Date