Hello experts,
I have quit from MNC job after working for 7 years as IW. I was treated as IW since I am a USC with OCI card.
But the fact is, I have returned to India for good and no plans of going back in the foreseeable future.
As IW the EPF and EPS contributions were made on actual salary (not restricted to 15k). Now that I am out of job and still deciding on my next move, i have few clarifications
1. what are the chances of getting back the EPF and EPS balance from EPFO? The request is still pending and they are seeking clarification on my IW status and higher contributions..
2. if I transfer PF to my future job and put 3+ more years (total 10 years under EPS), will I be eligible to get higher pay as the contributions were done on actual salary. In that case, will it be on average of last 60 months pay (pensionable salary)
3. in extreme case if I decide to not work but start my own firm, will I stand to loose my PF and EPS due to being an IW? Are there any cases like this?
thanks a lot in advance for your replies and advice..
Mahesh
From India, Bengaluru
1I have quit from MNC job after working for 7 years as IW. I was treated as IW since I am a USC with OCI card.
But the fact is, I have returned to India for good and no plans of going back in the foreseeable future.
As IW the EPF and EPS contributions were made on actual salary (not restricted to 15k). Now that I am out of job and still deciding on my next move, i have few clarifications
1. what are the chances of getting back the EPF and EPS balance from EPFO? The request is still pending and they are seeking clarification on my IW status and higher contributions..
2. if I transfer PF to my future job and put 3+ more years (total 10 years under EPS), will I be eligible to get higher pay as the contributions were done on actual salary. In that case, will it be on average of last 60 months pay (pensionable salary)
3. in extreme case if I decide to not work but start my own firm, will I stand to loose my PF and EPS due to being an IW? Are there any cases like this?
thanks a lot in advance for your replies and advice..
Mahesh
From India, Bengaluru
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