One of our members who joined the org at the age of 58, his PF contribution, the pension portion of 8.33% should have been deposited in PF a/c. But due to ignorance it was deposited in his pension a/c. Now when he has left the service, and applied for withdrawal, this part of the money (pension a/c) he was denied, stating that at the time of joining he was already 58 years so it is rejected. Now the question is how can he claim this money. Where will this money go if the member doesn't get it?
From India, Lucknow
7From India, Lucknow
He is not eligible for pension on attaining the age of 58 years.If by inadvertance, 8.33% of employer's contribution was deposited in pension account, an application can be made to PF dept bringing this fcat to their notice and requesting them to transfer the amount so deposited in pension a/c to the employee's PF a/c to enable him withdraw the same.
Other views about teh procedure welcome.
B.Saikumar
From India, Mumbai
Other views about teh procedure welcome.
B.Saikumar
From India, Mumbai
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Employer-PF-res trict to wages of Rs 6500.pdf