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Learn how to apply online for a higher pension under EPS 95 following EPFOs latest guidelines from the 20.02.2023 circular. Step-by-step guide for eligible EPF members.
The request for a higher pension should be made in Joint Option Form duly signed by both the employee and the employer The EPFO has not issued any standard Format. The organizations are providing Joint Option Form in its format.
Employees’ Provident Funds (Amendment) Scheme, 2023 shall come into force from 13th February, 2023 – Central Board of Trustees shall meet at least twice in each financial year and the Executive Committee and the Regional Committee shall meet at least four times in each financial year
Supreme Court allowed employees to opt for a higher pension within 4 months from the date of judgment i.e. on or before 3rd March 2023.
Learn about the eligibility for higher pensions of EPFO, per latest Supreme Court judgements and clarifications issued by the EPFO. Eligibility for EPS-95 and compare it with the EPF for a higher pension.
Subramanya Karthik Vs ITO (ITAT Bangalore) ITAT held that decisions cited by the learned Counsel for the assessee proceed on the assumption that the disallowance of employees’ share of PF and ESI paid beyond the due dates under relevant law has been made only under section 143(1)(a)(iv) of the Act, while in the intimation under […]
There is a marked distinction between the nature and character of the two amounts – the employer’s liability is to be paid out of its income whereas the second is deemed an income, by definition, since it is the deduction from the employees’ income and held in trust by the employer. This marked distinction has to be borne while interpreting the obligation of every assessee under Section 43B.
Chase Security Vs ITO (ITAT Bangalore) Section 36(1)(va) and Section 43B(b) operate on totally different equilibriums and have different parameters for due dates, i.e., employee’s contribution is linked to payment before the due dates specified in the respective Acts and employer’s contribution is linked to payment before the due dates specified in the respective Acts […]
1. The EPFO vide Circular dated 29 Dec 2022 lays down the eligibility criteria for employees seeking higher pensions under EPS 95 Scheme. The circular is issued to comply with the Supreme Court’s direction vide judgment pronounced on 04.11.2022 2. Para 44(ix) of the said judgment stipulated that the fund authorities shall implement the directives […]
Understand the scope of section 143(1)(a) for delayed deposit of PF/ESIC contributions under ITAT Mumbai-P.R. Packaging Service v ACIT (Mum.)(Trib.) (ITA No. 2376/Mum/2022),
