Dear seniors, Good morning!
If a new employee joins whose age is 52 years, then the company deducts his PF, but when he turns age 60, it stops deducting his PF. How will his pension be paid in that case? Because his service is only eight years, please explain it to me clearly. Share knowledge
From India, Delhi
10If a new employee joins whose age is 52 years, then the company deducts his PF, but when he turns age 60, it stops deducting his PF. How will his pension be paid in that case? Because his service is only eight years, please explain it to me clearly. Share knowledge
From India, Delhi
The employee is not eligible for pension. Both PF & Pension amount as per record of EPFO will be settled in one go if the employee retires at the age of 60 years.
S K Bandyopadhyay ( Howrah, WB)
CEO -USD HR Solutions
From India, New Delhi
S K Bandyopadhyay ( Howrah, WB)
CEO -USD HR Solutions
From India, New Delhi
Hi, Pension will be applicable only after completing 10 years of service. Hence for 8 years service pension will not be applicable.
From India, Madras
From India, Madras
If a new employee joins whose age is 52 years, then the company deducts his PF - Your sentence,
1) Confirm his existing working history through EPF declaration whether continues service of member in EPFO.
but when he turns age 60, it stops deducting his PF - Your sentence,
2) Employer not required to contribute pension when member attained 58 years and those contribution will be paid in employer PF.
3) Employer can continue to contribute EPF even member attained the age of 58 years and above (No age restriction). But cannot to EPS.
How will his pension be paid in that case? Because his service is only eight years, - Your sentence,
4) After consideration of continues service stated in S No 1, EPS not eligible to pension if member had service is less than 10 years. But he can withdraw his EPS amount if not in employment.
1) Confirm his existing working history through EPF declaration whether continues service of member in EPFO.
but when he turns age 60, it stops deducting his PF - Your sentence,
2) Employer not required to contribute pension when member attained 58 years and those contribution will be paid in employer PF.
3) Employer can continue to contribute EPF even member attained the age of 58 years and above (No age restriction). But cannot to EPS.
How will his pension be paid in that case? Because his service is only eight years, - Your sentence,
4) After consideration of continues service stated in S No 1, EPS not eligible to pension if member had service is less than 10 years. But he can withdraw his EPS amount if not in employment.
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PF & Pension Amdmt Scheme 2010 for IW.pdf