Can we start a PF fund for an employee who is 58 years old???He is also partially handicapped..and will he be able to withdraw the PF if he works till 60yrs.i.e;2years....what if he continues on payroll even after he is 60 years of age...is there any upper age limit for PF...
Regards,
leena
From India, Calcutta
Regards,
leena
From India, Calcutta
Alternatively, you can continue PF deduction & contribute to employee is in service ie., 60years. For continuance & contribution purpose upper age limit is not prescribed by EPF Act. As long as F & F settlment is made to employee, the contribution can be continued. After all PF is beneficary legislation.
Answer 2ur query is, i feel that you can start PF fund for 58yrs employee & he will be entitled to withdrawn at 60yrs when F&F is made to him.
From India, Tiruchchirappalli
18Answer 2ur query is, i feel that you can start PF fund for 58yrs employee & he will be entitled to withdrawn at 60yrs when F&F is made to him.
From India, Tiruchchirappalli
Mr. Kumaresank has given lucid answer. I just want to add that After 58 years there would be no contribution in EPS scheme all contribution will be in PF Account only.
From India, Pune
From India, Pune
If the concerned employee has been a member of the PF Scheme in your organization, you should allow him to continue as a member of the PF Scheme.
Upon his attaining the age of superannuation, you may settle his dues in Full & Final and if you wish to reimployee him further, you could engage him on a post retirement contract basis and as a measure of abundant caution, keep his salary a little bove Rs.6500/- p.m.
Best Wishes,
Vasant Nair
From India, Mumbai
Upon his attaining the age of superannuation, you may settle his dues in Full & Final and if you wish to reimployee him further, you could engage him on a post retirement contract basis and as a measure of abundant caution, keep his salary a little bove Rs.6500/- p.m.
Best Wishes,
Vasant Nair
From India, Mumbai
Dear All,
This is for your information. The pf wage ceiling is 6500 or less wages, if that employee crossed his age 58 years, then his salary is less than 6500, the employer should contribute the employee and employer contributions to the PF authority. but, the total contribution Employee 12% and Employer 12% (total 24%) directly goes to PF account only. once the employee, who crossed the age 58 years, he/she not eligible to the employee pension scheme (16-11-1995) as per EPF (MP) Act-1952.
I hope it is helpful to you.
Jagdeep Rana
Executive HR
Mobile:- +91-93188-20556
Direct: +91-1795-308260
Email:-
From India, Chandigarh
This is for your information. The pf wage ceiling is 6500 or less wages, if that employee crossed his age 58 years, then his salary is less than 6500, the employer should contribute the employee and employer contributions to the PF authority. but, the total contribution Employee 12% and Employer 12% (total 24%) directly goes to PF account only. once the employee, who crossed the age 58 years, he/she not eligible to the employee pension scheme (16-11-1995) as per EPF (MP) Act-1952.
I hope it is helpful to you.
Jagdeep Rana
Executive HR
Mobile:- +91-93188-20556
Direct: +91-1795-308260
Email:-
From India, Chandigarh
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PF Pension fund contribution beyond 58 years of age.pdf