Key Points
The latest EPFO circular issued on May 11, 2023, informs pensioners/employees about the method of calculating past dues that must be deposited into the EPS account if they are opting for a higher pension..
The Employees Provident Fund Organisation (EPFO) issued the latest circular on May 11, 2023, clarifying how dues for past missing EPS contributions and accrued interest till date will be calculated..
d) The historical interest rate announced by EPFO will be taken to calculate the interest amount that must be taken back from the EPF account to recover the accrued interest on past missing EPS contributions...
As per the latest EPFO circular, once the total dues (missing contribution and accrued interest) from the past missing EPS account is calculated, then the field office will inform the pensioner/employee about the dues and any amount that needs to be deposited a fresh or diverted from EPF account...
The EPFO will provide a break-up of the total amount that is due towards the EPS account, an amount that will be diverted from the EPF account along with interest and the amount that must be deposited by the EPF account holder along with the interest...
