EPS 95 PENSION ON HIGHER WAGES: This information is for in-service employees and retired after the amendment of the scheme ie. after 1-9-2014

This information is for in-service employees and retired after the amendment of the scheme ie. after 1-9-2014. Now  EPFO has issued a circular dt 20-2-2023l0 regarding for submission of options for higher wages in the case of employees who  are continuing in service after the amendment of the pension scheme ie. after 1-9-2014.                       

In this circular vide para 4 it is mentioned about the eligibility for submission of option for getting higher pension as detailed below:

1) Those employees who are in service before the amendment of the scheme (ie prior to 1-9-2014 )and not exercised the option under para  11(3) but continued in service after the amendment, now they can opt for higher pension under para 11 (4) within four months from the date of Supreme court judgement.

2) Those employees who exercised the option under para 11 (3) earlier and continued in service after the amendment of the scheme if they have not exercised the option under amended para 11 (4) within the stipulated time fixed earlier, now they are not eligible to opt for higher pension. Why are these conditions lay down in this EPFO circular the hon’ble three judges bench in their verdict said that prior to the amendment of the scheme, there is no cut-off date as per the judgement of the Division Bench of this Court in the R.C. Gupta case.

So if those employees not opted earlier and continued in service after the amendment, they can submit the option now under para 11 (4) as the cut-off date is not applicable to them and are given one time chance to  opt.

But in the case of employees who exercised the option already under para 11 (3) and continued in service after amendment but not opted for a higher pension in accordance with para 11 (4) of the amendment scheme within the stipulated time, there are not eligible for submission of option because three judges bench of Supreme court supported the cut-off date under amendment scheme and the cut-off date prescribed by EPFO earlier is stands good on the ground that they already opted but not continued to opt under the amendment  Scheme and the cut-off date is applicable to them under the amendment scheme. It means those who opted under para 11 (3) from un- exempted establishments as per the judgement of R.C.Gupta and drawing pension on higher wages and continued in service after the amendment of the scheme or retired but not opted under para 11(4)0f amendment scheme within the stipulated cut-off date, are not eligible. This is the  EPFO trick to reduce the members of pensioners drawing on higher wages. Now all  can  submit their option forms if they are not drawing higher pension on their full wages .  Moreover, the in-service employees who have not crossed wages of  Rs15,000/-( Basic+ DA) per month as of date also should submit joint declaration immediately on or before 3-3-2023 because afterwards  EPFO  may  not  accept Joint declarations.