Dear Sir,
Kindly suggest on the points below:
1. How many years (after 58 years) can we receive pension under the EPF Pension Scheme? Is it lifelong and also available to the family after the individual's death?
2. If someone completes 12 years of service and then leaves the job, can they receive the entire amount deposited under the pension scheme at once if they choose not to receive a pension?
From,
Raju Shriname
From India, Chicalim
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5Kindly suggest on the points below:
1. How many years (after 58 years) can we receive pension under the EPF Pension Scheme? Is it lifelong and also available to the family after the individual's death?
2. If someone completes 12 years of service and then leaves the job, can they receive the entire amount deposited under the pension scheme at once if they choose not to receive a pension?
From,
Raju Shriname
From India, Chicalim
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Dear Raju,
First of all, I would like to clarify that the EPF Pension Scheme provides lifelong benefits, and after the death of the concerned person, their family members are entitled to receive that pension. Additionally, according to the EPF pension scheme, a minimum of 20 years of work is required to be eligible for the benefits.
Thank you.
From India, Ghaziabad
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First of all, I would like to clarify that the EPF Pension Scheme provides lifelong benefits, and after the death of the concerned person, their family members are entitled to receive that pension. Additionally, according to the EPF pension scheme, a minimum of 20 years of work is required to be eligible for the benefits.
Thank you.
From India, Ghaziabad
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Dear Raju,
Firstly, I want to tell you that the EPF Pension Scheme provides lifelong benefits, and after the death of the concerned person, the nominee members receive that pension.
Secondly, according to the EPF pension scheme, a minimum of 10 years of work is required to be eligible for benefits from a specific employer.
Thank you.
From India, Delhi
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Firstly, I want to tell you that the EPF Pension Scheme provides lifelong benefits, and after the death of the concerned person, the nominee members receive that pension.
Secondly, according to the EPF pension scheme, a minimum of 10 years of work is required to be eligible for benefits from a specific employer.
Thank you.
From India, Delhi
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QUOTE=Shweta Dhiman Dear Sweta ji! EPF pension scheme minimum 10 years working job should be must, to get benefit.
From India, Delhi
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From India, Delhi
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Dear Shwethaji,
Please note, the New Employees Pension Scheme was introduced in 1995. Those who have completed more than 10 years of service after 1995 cannot withdraw the amount; they must opt for a Scheme Certificate only. Upon reaching 58 years of age, they are required to submit the Scheme certificate and apply for a pension. The employee will receive a pension for the entire duration of their life. Following the employee's passing, their family members will also receive a pension based on the nomination provided.
You can download the Employees Pension Scheme from the EPFO website for reference.
Regards,
S. Vaitheeswaran
From India, Bangalore
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Please note, the New Employees Pension Scheme was introduced in 1995. Those who have completed more than 10 years of service after 1995 cannot withdraw the amount; they must opt for a Scheme Certificate only. Upon reaching 58 years of age, they are required to submit the Scheme certificate and apply for a pension. The employee will receive a pension for the entire duration of their life. Following the employee's passing, their family members will also receive a pension based on the nomination provided.
You can download the Employees Pension Scheme from the EPFO website for reference.
Regards,
S. Vaitheeswaran
From India, Bangalore
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and what about his pension fund deposited between 10to15 service. can he lost his fund? from Raju shriname
From India, Chicalim
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From India, Chicalim
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All the contributions made to the pension fund go to the corpus. Nothing is lost. The pension one gets does not depend on the contribution one made to the fund. It depends upon the length of qualifying service (the more service you put in, the more pension you get) and the average emoluments (the greater the emoluments, the more the pension).
From India, Madras
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From India, Madras
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Dear friends,
Regarding members, the pension is lifelong. For widows/widowers, the pension is either until death or remarriage, whichever occurs earlier. In the case of children, normally up to 25 years of age. However, for permanently disabled and mentally retarded children, the pension is lifelong.
Those who complete a minimum of 9 years and six months of service will have no option other than availing the pension. If the length of service is less than 9 years and six months but not below six months, a one-time withdrawal benefit will be provided according to Table D, along with the average salary of the last twelve months on which the pension contributions were based.
Abbas.P.S
From India, Bangalore
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Regarding members, the pension is lifelong. For widows/widowers, the pension is either until death or remarriage, whichever occurs earlier. In the case of children, normally up to 25 years of age. However, for permanently disabled and mentally retarded children, the pension is lifelong.
Those who complete a minimum of 9 years and six months of service will have no option other than availing the pension. If the length of service is less than 9 years and six months but not below six months, a one-time withdrawal benefit will be provided according to Table D, along with the average salary of the last twelve months on which the pension contributions were based.
Abbas.P.S
From India, Bangalore
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After 9.6 years of service, employees cannot withdraw the amount. They have to opt for a Scheme Certificate only. Upon attaining the age of 58, they must submit the Scheme certificate and apply for a pension. The employee will receive a pension for the entire duration of their life. Following their death, their wife will receive a pension until her passing or remarriage, and their two children will receive a pension until the age of 25.
Regards, Yogendra Chavda
From India, Ahmedabad
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Regards, Yogendra Chavda
From India, Ahmedabad
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