Dear Sai Bhakta
I wonder if your present reply has any relevance to the present issue. The issue was about retention of an employee beyond retirement age of 58 years, while your reply is on the right of the employer to retire the employee at the age 55, as a legancy of British Raj.
So far as British Raj Legacy is concerned, it is not only in service laws, but also persists in almost every law of the land where even the laws of pre-independence are affecting all sphers of lives of the Indians.
From India, Delhi
387I wonder if your present reply has any relevance to the present issue. The issue was about retention of an employee beyond retirement age of 58 years, while your reply is on the right of the employer to retire the employee at the age 55, as a legancy of British Raj.
So far as British Raj Legacy is concerned, it is not only in service laws, but also persists in almost every law of the land where even the laws of pre-independence are affecting all sphers of lives of the Indians.
From India, Delhi
Hello Sirs,
I am making this reference on behalf of my colleague who has recently attained 58 years of age. Upon his attainment of 58 years, no contribution towards Provident Fund as well as Family Pension Fund is made by his employer. However, he continues in service beyond 58 years of age.
I understand, under EPS 1995, an employee shall cease to be the member of Pension Fund from the date of attaining 58 years of age. However, there is no age restriction for the contribution of Provident Fund and as long as the employee engaged in service, he can contribute to Provident Fund and the employer is also bound to contribute 12% of Provident Fund. Therefore, pension contribution alone has to be stopped on the day of attaining 58 years. Contribution to the pension fund (8.33%) will be diverted to the Provident Fund (whole of 24% i.e. 12% + 12 %) and the pension fund account will be closed.
Regarding drawal of Family Pension, he has been advised to submit the application only after his discharge from the employment i.e. he cannot draw the pension as long as he is employed notwithstanding the fact that he has already ceased to be a member of Pension Fund on attaining 58 years of age. I would like to know the correctness of this statement.
With high regards,
Libin MP
From India, undefined
I am making this reference on behalf of my colleague who has recently attained 58 years of age. Upon his attainment of 58 years, no contribution towards Provident Fund as well as Family Pension Fund is made by his employer. However, he continues in service beyond 58 years of age.
I understand, under EPS 1995, an employee shall cease to be the member of Pension Fund from the date of attaining 58 years of age. However, there is no age restriction for the contribution of Provident Fund and as long as the employee engaged in service, he can contribute to Provident Fund and the employer is also bound to contribute 12% of Provident Fund. Therefore, pension contribution alone has to be stopped on the day of attaining 58 years. Contribution to the pension fund (8.33%) will be diverted to the Provident Fund (whole of 24% i.e. 12% + 12 %) and the pension fund account will be closed.
Regarding drawal of Family Pension, he has been advised to submit the application only after his discharge from the employment i.e. he cannot draw the pension as long as he is employed notwithstanding the fact that he has already ceased to be a member of Pension Fund on attaining 58 years of age. I would like to know the correctness of this statement.
With high regards,
Libin MP
From India, undefined
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