Dear Seniors
I need some clarifications from you. I am YD Gopaul, Manager-Admn & Accounts, Sahney Commutators Pvt Ltd, Bangalore.
Four of our Staff retired last year after attaining age of 58 years and our Company has given extension and they are in service and continuing on monthly salary basis. We are recovering PF as usual from them and remitting only EPF 12% along with Employer's contribution and not Pension.
Kindly let me know is it necessary to mark the retirement date in the PF portal against their UAN in respect of EPS only and continue in payroll by remitting only EPF collected along with Employer's contribution and by doing this will their EPF account will be credited and they can withdraw the same after leaving the service.
Thanks and Regards.
YD GOPAUL
From India, Bengaluru
2I need some clarifications from you. I am YD Gopaul, Manager-Admn & Accounts, Sahney Commutators Pvt Ltd, Bangalore.
Four of our Staff retired last year after attaining age of 58 years and our Company has given extension and they are in service and continuing on monthly salary basis. We are recovering PF as usual from them and remitting only EPF 12% along with Employer's contribution and not Pension.
Kindly let me know is it necessary to mark the retirement date in the PF portal against their UAN in respect of EPS only and continue in payroll by remitting only EPF collected along with Employer's contribution and by doing this will their EPF account will be credited and they can withdraw the same after leaving the service.
Thanks and Regards.
YD GOPAUL
From India, Bengaluru
The system you are following is perfect, you can continue as such. After retirement or after 58 years of age, if any employee is continuing in the service, he should be given PF but without Pension Fund contribution. You can exit him from Pension Fund only and continue to contribute the entire 12% payable by you to his PF. With this he can withdraw the PF after his leaving your organisation at his will.
From India, Kannur
From India, Kannur
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