Dear Expert, I have a question: Will an EPS member who has completed ten years of service and has not yet reached the age of 58 still work?
Then, how is the further pension calculated? Is there any specific formula? Or does he want to withdraw the entire amount of pension from any of the options?
Please help
From India, Mohali
2Then, how is the further pension calculated? Is there any specific formula? Or does he want to withdraw the entire amount of pension from any of the options?
Please help
From India, Mohali
Hi,
After 9.6 years of continuous service Member will not be able to withdraw pension contribution. Can apply for scheme certificate only. After attaining 58 years Member can apply for full pension or can apply for reduced pension after 50 years.
Completing 10 years service has nothing to do with 58 years. Yes employee can continue. Please note that even after 58 years Employee can continue in service if employer is ok with it. Only thing is that Pension contribution will not continue after 58 years whereas PF contribution can be continued.
From India, Madras
After 9.6 years of continuous service Member will not be able to withdraw pension contribution. Can apply for scheme certificate only. After attaining 58 years Member can apply for full pension or can apply for reduced pension after 50 years.
Completing 10 years service has nothing to do with 58 years. Yes employee can continue. Please note that even after 58 years Employee can continue in service if employer is ok with it. Only thing is that Pension contribution will not continue after 58 years whereas PF contribution can be continued.
From India, Madras
Dear Sir, Thanks for the update one more thing is how to calculate pension after completing 10 years of service or 58 years? Please check if I am right (Pension Pay*Total EPS Service/70)
From India, Mohali
From India, Mohali
Dear Mr Lakshmi Narayanan, EPS Member can opt for reduced Pension after Completion of 55 Years as per Amendment (Not after Completion of 50 Years)
From India, New Delhi
From India, New Delhi
On the point that Pension contribution will not continue after 58 years, it is clarified that based on the circular of 2016, the member can opt for deferment of pension up to 60 years with or without contribution.
I am running 60 and still contributing to the pension fund.
Regards,
From India, Delhi
I am running 60 and still contributing to the pension fund.
Regards,
From India, Delhi
Dear Mr.Srinath, Thanks for the update. Do you have any amendment notification copy . If so please share.
From India, Madras
From India, Madras
Dear Raj,
Pension amount will be determined by PF Authorities.
To know the projected Pension amount respective contributing members who had completed 10 years of service can refer the PF passbook login wherein projected pension illustration is provided.
From India, Madras
Pension amount will be determined by PF Authorities.
To know the projected Pension amount respective contributing members who had completed 10 years of service can refer the PF passbook login wherein projected pension illustration is provided.
From India, Madras
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Clarification On Additional Two Years Pensionable Service Weightage To Members Of EPS.pdf
Death while in service letter for pf death claim.docx