Dear All,
One of my colleagues had worked with a company for 13 years. When he left the company, he applied for EPF (12+3.67) and subsequently received the same. The pension fund share (8.33) was not given to him as the contribution period was more than 10 years. Presently, he is 47 years old.
Could anyone help me in understanding the procedure to avail/withdraw the pension?
Regards, Rohan
From India, Dehra Dun
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One of my colleagues had worked with a company for 13 years. When he left the company, he applied for EPF (12+3.67) and subsequently received the same. The pension fund share (8.33) was not given to him as the contribution period was more than 10 years. Presently, he is 47 years old.
Could anyone help me in understanding the procedure to avail/withdraw the pension?
Regards, Rohan
From India, Dehra Dun
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Dear Rohanji,
The pension age in EPS is 58 years. For those who have separated from service, they can avail of a pension from 50 years onwards. However, for each year below 58 years, they will lose 4% of the pension amount.
Abbas.P.S
From India, Bangalore
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530The pension age in EPS is 58 years. For those who have separated from service, they can avail of a pension from 50 years onwards. However, for each year below 58 years, they will lose 4% of the pension amount.
Abbas.P.S
From India, Bangalore
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Hi,
1.As you told your period is more than 10 years,so you are eligible to get Scheme certificate, you may withdrawal the amount.
To avail pension benefit, the member
- should have completed 10 years of continuous service or
- he / she should have attained the age of 50 years or more.
- he / she doesn’t receive any other EPF pension
The member will receive the Pension amount on a monthly basis after attaining the age of 58.
If the employee does not fall in the above criteria, he can apply for withdrawal of Pension monies.
From India, Mumbai
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1.As you told your period is more than 10 years,so you are eligible to get Scheme certificate, you may withdrawal the amount.
To avail pension benefit, the member
- should have completed 10 years of continuous service or
- he / she should have attained the age of 50 years or more.
- he / she doesn’t receive any other EPF pension
The member will receive the Pension amount on a monthly basis after attaining the age of 58.
If the employee does not fall in the above criteria, he can apply for withdrawal of Pension monies.
From India, Mumbai
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EPF Pension.xls
EPF - Pension contribution is zero WHY.jpg