Hello Fraternity,
I have one query related to the pension fund. One of my employees has worked in Himachal Pradesh for around 2.8 years. According to his PF ledger, his pension amount is mentioned as around 42K. After working for 2.8 years, he switched to a new job in Delhi. However, when he transferred his PF through online Form 13, his entire PF was transferred to the new account, but his pension was not transferred. He posted his query on the PF grievance web portal and received a remark stating that only the pension service is transferable.
Kindly suggest a course of action as he needs to respond to the PF grievance portal. As per my understanding, all PF and pension amounts need to be transferred as per the ledger.
Please share your valuable input.
Regards, Ameet
From India, Chandigarh
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I have one query related to the pension fund. One of my employees has worked in Himachal Pradesh for around 2.8 years. According to his PF ledger, his pension amount is mentioned as around 42K. After working for 2.8 years, he switched to a new job in Delhi. However, when he transferred his PF through online Form 13, his entire PF was transferred to the new account, but his pension was not transferred. He posted his query on the PF grievance web portal and received a remark stating that only the pension service is transferable.
Kindly suggest a course of action as he needs to respond to the PF grievance portal. As per my understanding, all PF and pension amounts need to be transferred as per the ledger.
Please share your valuable input.
Regards, Ameet
From India, Chandigarh
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Pension amount can not be transferred, and only pensionable service is transfer.
From India, Chandigarh
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From India, Chandigarh
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Hi, Sorry your understanding on transfer of pension amount is not correct. You can ask him to apply for a Scheme certificate from EPFO and keep the same with him.
From India, Aizawl
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651From India, Aizawl
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Hi,
Please note that irrespective of the service period, the pension amount cannot be transferred. At the time of claim, the full amount can be claimed if the total number of service periods is less than 10 years. If the total number of service periods is greater than 10 years, then you can claim it as a pension after 58 years.
From India, Madras
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Please note that irrespective of the service period, the pension amount cannot be transferred. At the time of claim, the full amount can be claimed if the total number of service periods is less than 10 years. If the total number of service periods is greater than 10 years, then you can claim it as a pension after 58 years.
From India, Madras
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PF & Pension Amdmt Scheme 2010 for IW.pdf