Interest in calculted only on PF (ie. 15.67%) or PF and Pension both (8.33%), further if Pensioner & his widow both expired and they have a major children then in this situation what about our penion accumulation? Alpesh Thakkar
From India, Ahmadabad
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From India, Ahmadabad
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Dear MUBASHIRA.S.M,
Greetings for the day,
Gone through your case, if she withdraw the EPF accumulation, then it is no problem, Scheme certificate is issued to her for EPS accumulation which was contributed for 10 yrs. or more. If she opted for continuation of epf then its no problem, she may opt. for new epf account once she get the new epf no., the same will be be the eps. no. the fill the form 13 enclosed the scheme certificate with form 13 with the application for surrender of scheme certificate, submitted the same to attached EPF office the whole accumulation will get transferred itself. No problem to opt for continuation of her FPF service.
thanks & regards,
From,
Sumit Kumar Saxena,
9899669071, 0120-4131277
From India, Ghaziabad
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280Greetings for the day,
Gone through your case, if she withdraw the EPF accumulation, then it is no problem, Scheme certificate is issued to her for EPS accumulation which was contributed for 10 yrs. or more. If she opted for continuation of epf then its no problem, she may opt. for new epf account once she get the new epf no., the same will be be the eps. no. the fill the form 13 enclosed the scheme certificate with form 13 with the application for surrender of scheme certificate, submitted the same to attached EPF office the whole accumulation will get transferred itself. No problem to opt for continuation of her FPF service.
thanks & regards,
From,
Sumit Kumar Saxena,
9899669071, 0120-4131277
From India, Ghaziabad
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Dear,
While settling her account of EPF you have to wait for 2 months break.If yes then dont worry.The scheme certificae itselft a tool of Continuation of FPF account and can be submitted if your service is less than 10 years.If her services has passed 10 years then there is no option except receiving pension after attaining age of 50 Years.
Please confirm.
Mangesh Wakodkar
Neepaz V Forge India Ltd.
Aurangabad.
From India, Pune
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While settling her account of EPF you have to wait for 2 months break.If yes then dont worry.The scheme certificae itselft a tool of Continuation of FPF account and can be submitted if your service is less than 10 years.If her services has passed 10 years then there is no option except receiving pension after attaining age of 50 Years.
Please confirm.
Mangesh Wakodkar
Neepaz V Forge India Ltd.
Aurangabad.
From India, Pune
Acknowledge(0)Amend(0)Before posting a reply please go through the query and subsequent postings. Through the postings made before you, I feel the query is rightly addressed; even then your posting made it confused.
1. You have stated that the status of PF is not mentioned in the query. But it was mentioned as "we have settled her account & her Provident fund is also cleared".
2. Your statement that "continuing membership in EPS is by opting Scheme certificate" is not correct. For continuation form 13 is to be submitted and subsequently Annexure K will be prepared. If there is no hope on immediate PF service, scheme certificate may be obtained. Later if he gets job, the the past service can be clubbed with that job, by surrendering the sheme certificate.
3. There is no option in EPS to either withdraw benefit or to avail pension. It is purely based on the service in EPS. If the service is equal to or more than 9 years & 6 months he will be entitled for pension and withdrawal benefit is not applicable. Otherwise he is not eligible for pension, but will get withdrawal benefit only.
4. You have mentioned that membership period cannot be considered while calculating pensionable mebership and pension amount, on retirement. What do you mean by this? In EPS even though the terms "Pensionable Service" and "Pensionable Salary" are referred, there is no term as "Pensionable Membership". However both pension and withdrawal benefits are related with pensionable service.
Abbas.P.S
From India, Bangalore
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After retirement mainly there are two types of benefits.
1. Pension
2. Withdrawal benefit
1. Pension : This is for those who completed 9 years and six months' service and more. But minimum age to get pension is 50 years. Hence those who retire before the age of 50 years can apply for Scheme Certificate, in which the full service details would be incorporated/ recorded. If he join another job with EPS, he can avail pension clubbed with the past service, surrendering the Sceme Certificate.
2. Withdrawal benifit is for those who have less than 9 years and six months' service. If the member hs not attained an age of 58 years and not willing to opt the benefit immediately and has a hope regarding join with an EPS applicable service, may opt scheme certificate and can avail pension or withdrawal benefit as the case may be surrendering the certificate.
Abbas.P.S
From India, Bangalore
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1. Pension
2. Withdrawal benefit
1. Pension : This is for those who completed 9 years and six months' service and more. But minimum age to get pension is 50 years. Hence those who retire before the age of 50 years can apply for Scheme Certificate, in which the full service details would be incorporated/ recorded. If he join another job with EPS, he can avail pension clubbed with the past service, surrendering the Sceme Certificate.
2. Withdrawal benifit is for those who have less than 9 years and six months' service. If the member hs not attained an age of 58 years and not willing to opt the benefit immediately and has a hope regarding join with an EPS applicable service, may opt scheme certificate and can avail pension or withdrawal benefit as the case may be surrendering the certificate.
Abbas.P.S
From India, Bangalore
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Hi,
I have left out of service from previous employer.Total Years of service were in previous employer is 5.5 Years.
So i had applied for PF withdrawal by producing Form 19 and 10C.
I have received form 19 payment and not yet received 10C amount. Inquired about this with PF office,they said "you have opted for scheme certificate instead of withdrawal of pension amount".
I just want to know, if i submit the scheme certificate to PF office through my current employer.
Before completing total service period 9 yrs and six months if i left out of my current employer, shall i apply for withdrawal of PF and Pension payment?
pls clarify this.
Regards,
V.S.Senthilkumar
From India
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I have left out of service from previous employer.Total Years of service were in previous employer is 5.5 Years.
So i had applied for PF withdrawal by producing Form 19 and 10C.
I have received form 19 payment and not yet received 10C amount. Inquired about this with PF office,they said "you have opted for scheme certificate instead of withdrawal of pension amount".
I just want to know, if i submit the scheme certificate to PF office through my current employer.
Before completing total service period 9 yrs and six months if i left out of my current employer, shall i apply for withdrawal of PF and Pension payment?
pls clarify this.
Regards,
V.S.Senthilkumar
From India
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Dear Senthil,
Wait till you attain an age of 58 years. If the total service in EPS is 9 years and six months and more you can apply for pension. otherwise you will be eligible only for withdrawal benefit. However if you are presently working in a PF applicable service, you can incorporate the previous service by surrendering the Sceme Certificate to the present RPFC.
Abbas.P.S
From India, Bangalore
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Wait till you attain an age of 58 years. If the total service in EPS is 9 years and six months and more you can apply for pension. otherwise you will be eligible only for withdrawal benefit. However if you are presently working in a PF applicable service, you can incorporate the previous service by surrendering the Sceme Certificate to the present RPFC.
Abbas.P.S
From India, Bangalore
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Dear Mr. Abbas,
I would say you have very poor knowledge about PF, and you are misguiding the viewers. If you are an HR professional, then you are a big threat to your employer. Before guiding others, please educate yourself; visit government PF websites where you will find a lot of data to educate yourself. You can browse and gather lots of information.
The points posted by Mr. vkokamthankar are correct and most suitable instead of confusing and misleading.
I know there are thousands of HR professionals like you who are misleading common people. This is why 99% of people think that pension is applicable only to government employees due to lack of education.
After educating yourself, let's come back and correct yourself in this thread itself. If you still feel that you are correct, let's have a healthy discussion with data/proof.
Hope you will gain a lot of knowledge about PF, which will definitely be useful in your personal life as well.
Thanks and Regards,
Ashok
From India, Madras
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I would say you have very poor knowledge about PF, and you are misguiding the viewers. If you are an HR professional, then you are a big threat to your employer. Before guiding others, please educate yourself; visit government PF websites where you will find a lot of data to educate yourself. You can browse and gather lots of information.
The points posted by Mr. vkokamthankar are correct and most suitable instead of confusing and misleading.
I know there are thousands of HR professionals like you who are misleading common people. This is why 99% of people think that pension is applicable only to government employees due to lack of education.
After educating yourself, let's come back and correct yourself in this thread itself. If you still feel that you are correct, let's have a healthy discussion with data/proof.
Hope you will gain a lot of knowledge about PF, which will definitely be useful in your personal life as well.
Thanks and Regards,
Ashok
From India, Madras
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