A super annuated employee (ie after 60 years) joined as contract worker. He contributed for PF and account is maintained for two years.Contractor's share is contributed and it is reimbursed by Principal Employer (Govt of India). What are the benefits the employee gets on conclusion of the job. Any body, please, guide. K. Sambasiviah, CITU, Sullurupeta, Tirupati Dt. A.P. 9441699073
From India, Nellore
24From India, Nellore
Hi,
On separation the employee can claim the whole PF along with interest amount. Pension contribution is not applicable in this case.
Other benefit will be in case of any unexpected demise of the Member before separation the registered nominee receives EDLI benefit along with total PF accumulation & interest.
From India, Madras
On separation the employee can claim the whole PF along with interest amount. Pension contribution is not applicable in this case.
Other benefit will be in case of any unexpected demise of the Member before separation the registered nominee receives EDLI benefit along with total PF accumulation & interest.
From India, Madras
Did he join the company after a government service or was he a member of PF earlier? In the latter case, he should have earlier membership and then the service after superannuation under a third party rolls should be continuation of his previous service. Then his withdrawal benefit should contain his previous accumulation, unless it is withdrawn some time before joining the company after superannuation. In the former case, he would get PF accumulations which will contain his contributions for two years and the employer's share at 12% rate (full amount since no amount should have been diverted to Pension Fund as the employee has become a member of EPF after 58 years of age) in full with interest for two years.
From India, Kannur
From India, Kannur
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls