EPFO office leads country in processing higher pension claims under SC order
The Regional Office of the Employees' Provident Fund Organisation (EPFO), Chandigarh, has emerged among the top-performing zones in the country in finalising pension-on-higher-wages cases following the Supreme Court's November 4, 2022 judgment.
The apex court had opened a window for eligible employees and their employers to jointly apply for higher pensions under the Employees' Pension Scheme (EPS), 1995, on wages exceeding the ceiling limit of ₹15,000, provided contributions were made accordingly, and the employee was in service as on or after September 1, 2014.
Following the judgment, the Chandigarh EPFO received a total of 24,250 applications from EPS members, including 19,367 joint option submissions by those still in service after the cut-off date. These were among the highest in the country.
To meet the exceptional volume of applications, the regional office worked in a 'mission mode' — beyond office hours and through weekends—- particularly during the last fortnight of the 2024–25 financial year. As a result, 14,158 joint-option applications were processed and approved for higher pension eligibility.
Demand letters outlining the lump-sum arrears and interest payable were dispatched by March 31, 2025, with a three-month window for remittance. This accounted for more than 73% of the joint-option applications — ranking the regional office first in the country in percentage terms and third in absolute numbers.
EPFO officials said many members have already begun depositing the due amounts, and the office is now in full gear to finalise Pension Payment Orders (PPOs) and disburse arrears by June 30, 2025.
Given the high footfall of members seeking status updates, Regional PF Commissioner Dr Kishan Pratap Singh has urged beneficiaries to wait until the first week of July to allow staff to complete the processing efficiently on a first-come, first-served basis.
Major gains in claims settlement
Dr Singh also highlighted the office's strong overall performance in FY 2024–25. A total of 6,97,372 claims were settled, marking a 37.73% jump from 5,06,325 claims the previous year.
Improvements in turnaround time were equally significant. While 91.55% of claims were settled within 10 days in 2024–25, only 77.72% had met that benchmark in 2023–24. Similarly, 99.41% of claims were cleared within 20 days this year, up from 96.86% last year.
The claims rejection or return rate also fell to 20.18%, compared to 27.22% in the previous fiscal. This efficiency gain translated into fewer grievances. Complaints dropped from 16,835 in FY 2023–24 to 14,797 in FY 2024–25. In terms of volume, grievances per lakh claims settled fell by 35.6%—from 3,325 to 2,139.Dr Singh said with the one-time processing of higher wage pension claims nearing completion, subscribers can now expect even faster service delivery and redressal going forward. He said the performance reaffirms EPFO's commitment to improving ease of access, employer facilitation, and overall user satisfaction.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Bitcoin as a hedge: Evaluating Bitcoin's role in India's economic strategy
Since Bitcoin's first public release, it has developed unprecedentedly to arguably become the world's best-performing risk asset. Based on its capability for hedging against inflation , and the emergence of DeFi (Decentralised Finance), Bitcoin has witnessed increased adoption across levels, including retail, institutional and government participation. With increased activity by state players like the USA, Bhutan, El Salvador, Russia, Brazil, and many others, India is in a unique dilemma regarding Bitcoin: to be or not to be? If we take a close look at India's economic policies over the last decade and compare them with pre-Bitcoin times, a stark difference can be seen. Pre-2009 India's economic strategies were overtly reactionary to global cues, which have been transformed in the last decade as the country positions itself as one of the most proactive nations regarding economic growth. The impact of this has been massive, with India becoming the 4th largest economy in the world. At the same time, India is increasingly becoming receptive to newer economic models and experiments, something that could be highlighted through the proposed Cryptocurrency and Regulation of Official Digital Currency Bill of 2021, and the Supreme Court's recent direction to regulate the sector. Crypto Tracker TOP COIN SETS Crypto Blue Chip - 5 -5.10% Buy Web3 Tracker -10.91% Buy AI Tracker -11.52% Buy DeFi Tracker -12.23% Buy NFT & Metaverse Tracker -12.54% Buy TOP COINS (₹) Bitcoin 8,904,124 ( -0.56% ) Buy BNB 54,750 ( -1.64% ) Buy XRP 180 ( -2.07% ) Buy Solana 11,798 ( -2.86% ) Buy Ethereum 198,264 ( -5.56% ) Buy While many project it as a negative aspect, the intent of regulating an otherwise decentralised sector highlights the government's openness to get involved in it, especially given that India boasts one of the world's fastest Bitcoin-adopting populations. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » This also means that in the long term, Bitcoin is increasingly garnering a favourable sentiment from the policymakers who are setting India's economic strategy for the years ahead. But questions remain — what does Bitcoin offer India's economic strategy that traditional models don't? Let's find out. Live Events Bitcoin's a hedge against inflation Global economies are going through uncertain times owing to several internal and external factors. While we will not indulge in making mathematical assumptions, if we take a look at the data of benchmark indices around the world, like the S&P 500 to the Hang Seng, it becomes clear that these indices have not performed as well as their projections. On the other hand, the global commodity market has been largely vulnerable to market dynamics. These factors have led nations to look at alternative finance or DeFi, in terms of Bitcoin, as the new-age asset has provided multibagger returns in the last few years. BTC has not only outperformed global indices, but also commodities like Gold and Silver — a trend that has piqued the interest of economists around the world. For instance, the US retail inflation on March 25 was 2.4%, as per the Consumer Price Index, a significant rise from the previous year. Similar cases of inflation have been seen in European countries like the United Kingdom and the EU. In the Indian context, the retail inflation rate has been on a downward curve for the past three years, owing to the country's economic rise in recent years, coming down to 4.6% in 2024-25 from 6.7% in FY 22-23. If we look at annualised returns over different global indices, Bitcoin has returned over 250%, more than 10 times that of NASDAQ in the second spot. In the Indian context, the Nifty 50 gave a return of approximately 40% since FY 22-23, highlighting how participation and adoption in the Bitcoin space could help India's economic strategy in the long run. Role in India's economic strategy? While many nations around the world have made significant strides in Bitcoin already, such as the USA, Bhutan and El Salvador, much of it has been reactionary. In India, DeFi is emerging as a real possibility for government participation, however, much of it weighs on the possibility of establishing a regulatory framework. India has been a vocal advocate of creating a global framework for regulating Bitcoin and other VDAs, and it is being considered as the lynchpin of the country officially joining the race. However, while officially the Indian government does not endorse Bitcoin, prominent reports have revealed that the country has used Bitcoin for energy trade with one of its European allies. While the efficacy of the report has not been admitted by the Indian government, what it shows is Bitcoin's increasing popularity at the upper echelons of the government. However, the significant tax levied on the capital gains from Bitcoin and other VDAs is largely considered counterproductive in this aspect. We must understand that India's economic strategy to become a developed nation by 2047, or the goal of Viksit Bharat, is a multilayered strategy. While Bitcoin is not included in the ongoing cohort, its rising popularity and governmental agencies like SEBI and RBI having strong opinions on the asset means it may have a role to play in the future, given that regulations or frameworks are established in a universally accepted means. This does not mean that India may create a Bitcoin strategic reserve, or use it as legal tender like El Salvador, but in a larger context that benefits the country's bid to become a developed nation. Furthermore, the already existing high adoption rate will supplement this bid and could position India as one of the innovators when it comes to a robust economic strategy. (The author Roshan Aslam is Cofounder & CEO, GoSats. Views are own)
Economic Times
an hour ago
- Economic Times
Bitcoin as a hedge: Evaluating Bitcoin's role in India's economic strategy
Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS Bitcoin 89,04,427 ( -0.6 %) Buy BNB 54,767 ( -1.63 %) Buy XRP 179.92 ( -2.11 %) Buy Solana 11,794.26 ( -3 %) Buy Ethereum 1,98,114 ( -5.7 %) Buy Tired of too many ads? Remove Ads Bitcoin's a hedge against inflation Role in India's economic strategy? Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) Since Bitcoin 's first public release, it has developed unprecedentedly to arguably become the world's best-performing risk asset. Based on its capability for hedging against inflation , and the emergence of DeFi (Decentralised Finance), Bitcoin has witnessed increased adoption across levels, including retail, institutional and government participation. With increased activity by state players like the USA, Bhutan, El Salvador, Russia, Brazil, and many others, India is in a unique dilemma regarding Bitcoin: to be or not to be?If we take a close look at India's economic policies over the last decade and compare them with pre-Bitcoin times, a stark difference can be seen. Pre-2009 India's economic strategies were overtly reactionary to global cues, which have been transformed in the last decade as the country positions itself as one of the most proactive nations regarding economic impact of this has been massive, with India becoming the 4th largest economy in the world. At the same time, India is increasingly becoming receptive to newer economic models and experiments, something that could be highlighted through the proposed Cryptocurrency and Regulation of Official Digital Currency Bill of 2021, and the Supreme Court's recent direction to regulate the many project it as a negative aspect, the intent of regulating an otherwise decentralised sector highlights the government's openness to get involved in it, especially given that India boasts one of the world's fastest Bitcoin-adopting also means that in the long term, Bitcoin is increasingly garnering a favourable sentiment from the policymakers who are setting India's economic strategy for the years ahead. But questions remain — what does Bitcoin offer India's economic strategy that traditional models don't? Let's find economies are going through uncertain times owing to several internal and external factors. While we will not indulge in making mathematical assumptions, if we take a look at the data of benchmark indices around the world, like the S&P 500 to the Hang Seng, it becomes clear that these indices have not performed as well as their projections. On the other hand, the global commodity market has been largely vulnerable to market factors have led nations to look at alternative finance or DeFi, in terms of Bitcoin, as the new-age asset has provided multibagger returns in the last few years. BTC has not only outperformed global indices, but also commodities like Gold and Silver — a trend that has piqued the interest of economists around the instance, the US retail inflation on March 25 was 2.4%, as per the Consumer Price Index, a significant rise from the previous year. Similar cases of inflation have been seen in European countries like the United Kingdom and the EU. In the Indian context, the retail inflation rate has been on a downward curve for the past three years, owing to the country's economic rise in recent years, coming down to 4.6% in 2024-25 from 6.7% in FY we look at annualised returns over different global indices, Bitcoin has returned over 250%, more than 10 times that of NASDAQ in the second spot. In the Indian context, the Nifty 50 gave a return of approximately 40% since FY 22-23, highlighting how participation and adoption in the Bitcoin space could help India's economic strategy in the long many nations around the world have made significant strides in Bitcoin already, such as the USA, Bhutan and El Salvador, much of it has been reactionary. In India, DeFi is emerging as a real possibility for government participation, however, much of it weighs on the possibility of establishing a regulatory framework. India has been a vocal advocate of creating a global framework for regulating Bitcoin and other VDAs, and it is being considered as the lynchpin of the country officially joining the while officially the Indian government does not endorse Bitcoin, prominent reports have revealed that the country has used Bitcoin for energy trade with one of its European allies. While the efficacy of the report has not been admitted by the Indian government, what it shows is Bitcoin's increasing popularity at the upper echelons of the government. However, the significant tax levied on the capital gains from Bitcoin and other VDAs is largely considered counterproductive in this must understand that India's economic strategy to become a developed nation by 2047, or the goal of Viksit Bharat, is a multilayered strategy. While Bitcoin is not included in the ongoing cohort, its rising popularity and governmental agencies like SEBI and RBI having strong opinions on the asset means it may have a role to play in the future, given that regulations or frameworks are established in a universally accepted does not mean that India may create a Bitcoin strategic reserve, or use it as legal tender like El Salvador, but in a larger context that benefits the country's bid to become a developed nation. Furthermore, the already existing high adoption rate will supplement this bid and could position India as one of the innovators when it comes to a robust economic strategy.(The author Roshan Aslam is Cofounder & CEO, GoSats. Views are own)(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
17 hours ago
- Time of India
No more long delays: Defence secretary says India plans to reduce weapon buying timeline from 6 to only 2 years
In a recent podcast, Defence Secretary Rajesh Kumar Singh addressed India's evolving military strategy, post-operation assessments, and the broader transformation of defence procurement and exports. He offered rare insights into Operation Sindoor, Pakistan's response, and structural challenges within the defence acquisition process . Emergency procurement and stock replenishment After the operation, the government gave emergency powers to the three armed services, allowing them to use up to 15% of their capital budgets for the urgent purchase of ammunition and equipment to replenish operational stocks. Singh noted that although funding for modernization is sufficient, challenges remain in utilization. 'Capital expenditure has grown 7% over the past few years, but difficulty in absorbing funds meant we had to surrender some of the budget at the revised estimate stage. For the first time in five years, we fully utilized the budget last year, awarding contracts worth ₹2 lakh crore — up from ₹1 lakh crore in 2023–24. We are working to accelerate contract signing and improve fund absorption,' he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Perforated Stainless Steel Sheets – Durable & Trusted Source Premium Stainless Steel Sheets | Search Ads Search Now Undo No shortage of funds, but procurement still too slow Dismissing any claims of inadequate capital allocation, Singh said, 'The Finance Ministry has confirmed there is no shortage of money for capital expenditure.' The real bottleneck, he explained, lies in the procurement timeline. 'It takes 5–6 years to buy a weapon — from issuing an RFP to field trials and cost negotiations. Ideally, this should take no more than two years.' Also Read: Raining Hell: India to get new 300-km range Pinaka missile system soon that can fire 12 missiles in 44 seconds Live Events The secretary added that he would like the armed forces to reduce the duration of field trials from two years to six to eight months. He cited the Rafale Marine deal as an example that nearly met this ideal timeline. Singh urged the services to complete field trials within 6 to 8 months instead of the current two-year period. 'We've issued directions to simplify and streamline procurement.' No formal talks on F-35A or Su-57E will focus on AMCA 'On F-35A and Sukhoi Su-57 E, whatever has been discussed has been informal. We don't have any formal consultation going on on these,' Singh told ANI in a podcast. He added that the focus is on indigenous capability: 'What I can talk about is our fifth-generation fighter, which will be the AMCA.' AMCA (Advanced Medium Combat Aircraft)would be the first project which will see the the participation from our private sector which will create healthy competition for the government owned Hindustan Aeronautics Limited (HAL) Simplifying the defence acquisition procedure Singh acknowledged the Defence Acquisition Procedure (DAP) — the core manual governing acquisitions — is overly complex. 'We must avoid redundancy. Many steps can be conducted concurrently rather than sequentially. We've formed a committee to simplify DAP, and its deadline is six months. The new DAP 2025 should be shorter, simpler, and more outcome-focused.' He added that unnecessary conditions preventing domestic production need to be removed. The goal, he said, is to facilitate indigenous defence manufacturing without compromising standards. India's defence exports: From negligible to ₹23,000 Crore When asked about India's growing status as a defence exporter, Singh dismissed concerns that it might lead to international isolation or reduce reliance on traditional suppliers. 'I don't believe India is at risk of isolation. You've seen Prime Minister Modi's successful foreign visits — we continue to strengthen global partnerships.' India's defence exports have increased from virtually nothing in 2014 to ₹23,000 crore, and Singh expressed confidence in meeting the ₹50,000 crore target in the coming years. 'We currently account for only 2% of global defence exports. Only when we begin selling large platforms — like missiles and aerial systems — will others view us as serious competitors,' he said. Focus on high-value systems for export India has already exported systems like BrahMos missiles, Akash surface-to-air missiles, Bharat Forge's ATAGS artillery guns, and other towed gun systems. Singh added that there is growing interest in multi-barrel rocket launchers, which, though not used in Operation Sindoor, are attracting global queries. India also has robust capability in the production of small arms and various types of ammunition, particularly 155mm shells, which are in high demand worldwide. Singh highlighted that public sector companies increased their defence exports by 40%, while private sector firms grew by 10%, contributing significantly to India's emergence as a reliable global weapons supplier. Operation Sindoor and Pakistan's Response Singh confirmed that during Operation Sindoor, the Indian Armed Forces demonstrated their ability to strike deep inside Pakistani territory. 'Initially, we targeted only terrorist infrastructure. But when the Pakistan Army retaliated directly against our forces, it became clear these groups were their assets. In response, India struck multiple Pakistani military airfields — some of which remain out of commission,' he said. Following these strikes, Pakistan's Director General of Military Operations (DGMO) called for a ceasefire. Singh emphasized that such operations are followed by debriefs to assess performance. 'That process is ongoing. Lessons are being implemented for the future,' he added. Also Read: Pakistan caught red-handed again: FATF's new report exposes the dirty tricks of Islamabad
