The Employees’ Pension Scheme, a part of the Employees’ Provident Fund Organization (EPFO), is designed to provide financial security to retired employees. To receive a higher pension, applicants must meet certain criteria, such as contributing to the scheme for a specified number of years and having a higher average monthly wage. Those found to have misrepresented their credentials in order to claim larger pensions have now been served with these demand letters.
Source:- the indian express
The demand letters, totaling a staggering Rs 1,974 crore, are aimed at recovering the excess pension benefits that were erroneously disbursed to these applicants. The move is part of an effort to ensure the integrity of the EPS and protect the interests of genuine beneficiaries who have contributed to the scheme diligently over the years.
Source:- the consultantRecipients of these demand letters are expected to repay the overpaid amounts promptly. Failure to comply with this demand could lead to legal action and penalties. The EPFO is determined to maintain the financial stability of the Employees’ Pension Scheme and protect the interests of all its stakeholders.
In conclusion, these demand letters represent a crucial step in safeguarding the integrity of the Employees’ Pension Scheme, ensuring that only eligible beneficiaries receive the benefits they rightfully deserve, and maintaining the financial health of the program for the long-term
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Demand letters for Rs 1,974 crore issued to higher pension applicants under EPS
By tirupatinews
