Dear Seniors,
A worker joined my organization on 13 Dec 2007 @ age of 50 and worked till 31 Oct 2017. Now his age is around 60. He was a member of EPF pension scheme till the age of 58. After that pension fund was credited to EPF share. Please tell me is he liable for pension or not? thanks & regards.
From India, Ludhiana
A worker joined my organization on 13 Dec 2007 @ age of 50 and worked till 31 Oct 2017. Now his age is around 60. He was a member of EPF pension scheme till the age of 58. After that pension fund was credited to EPF share. Please tell me is he liable for pension or not? thanks & regards.
From India, Ludhiana
He should have contributed to EPS only for 8 years which is some 2 years short of pension eligibility service and hence he will not get monthly pension from EPFO. However, the amount contributed to EPS can be withdrawn along with his Provident Fund accumulations.
Madhu T K
From India, Kannur
4248Madhu T K
From India, Kannur
Dear Madhu If I do not withdraw my PF at the time of retirement at 60, for how many years after retirement at 60 PF will earn interest.
You will get interest for 36 months since your last contribution. However this limit has been withdrawn , I understand. But no official communication is available with me right now. Madhu T K
From India, Kannur
From India, Kannur
The treatment with regard to inoperative accounts is like this.
1. In case you have resigned and have not withdrawn the PF, you will earn interest till you withdraw it. It is assumed that you will join some other company and will transfer the PF accumulations.
2.If you leave or retire after the 55 years of age, then you will get interest upto your attaining 58 years of age. Your account will become inoperative once you have retired.
However, the interest that you earn on your PF after your retirement will be taxable.
From India, Kannur
1. In case you have resigned and have not withdrawn the PF, you will earn interest till you withdraw it. It is assumed that you will join some other company and will transfer the PF accumulations.
2.If you leave or retire after the 55 years of age, then you will get interest upto your attaining 58 years of age. Your account will become inoperative once you have retired.
However, the interest that you earn on your PF after your retirement will be taxable.
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.
Outsourcing of HR to Continue.pdf
ESI Covered Employees allowed to Continue as members even after their Wages Cross the rs21000 t.docx