Earlier, employees who chose to receive higher pensions were required by the EPFO to contribute an additional 1.16 per cent of their basic salary which exceeded the wage ceiling.
Higher EPFO pension: Earlier this year, EPFO allowed its subscribers to opt for a higher pension amount by increasing their contribution towards the EPS. As per the new rules, subscribers can contribute 8.33 per cent of their actual basic pay towards the EPS to earn a higher EPFO pension.
Higher EPFO Pension: The deadline to apply for a higher pension under the Employees Pension Scheme is May 3, 2023, and there are speculations about whether the date will be extended. If the date is not extended, applicants can knock on the court s door on grounds of portal bugs or pending clarifications to seek an extension., Personal Finance News, Times Now