In my PF sheet i had a column "Diverted to Pension fund" - What does it mean?
After some Googling i found it's a pension after 58 years.
Question: Can we get this amount before age of 58.
PR structure:
Employee Share : Rs.749
Employer Share : Rs.229
Diverted to Pension fund : Rs. 520
From India, Gurgaon
After some Googling i found it's a pension after 58 years.
Question: Can we get this amount before age of 58.
PR structure:
Employee Share : Rs.749
Employer Share : Rs.229
Diverted to Pension fund : Rs. 520
From India, Gurgaon
Dear Sunny Ujjawal,
It is the amount towards contribution for pension. If you have 10 years or more service in EPS, you are eligible to get pension. Otherwise you will get one time withdrawal benefit. Normally pension is eligible after completion of 58 years of age. But if you are not in service, you may get pension after completion of 50 years' age, provided you will lose 4% on pensionable amount for each year below the age of 58 years.
Abbas.P.S
From India, Bangalore
517It is the amount towards contribution for pension. If you have 10 years or more service in EPS, you are eligible to get pension. Otherwise you will get one time withdrawal benefit. Normally pension is eligible after completion of 58 years of age. But if you are not in service, you may get pension after completion of 50 years' age, provided you will lose 4% on pensionable amount for each year below the age of 58 years.
Abbas.P.S
From India, Bangalore
It is the contribution to the pension fund and the wording should be contribution and as explained by Mr Sunny Ujjwal the amount is correctly calculated.
From India, Arcot
From India, Arcot
Your query has already been answered by me at least 8 to 10 times on similar query and inn different angles and ultimately the answer is same. besides other experts opinion. by various contributing members were given their opinion. You go through this series and search you will get the answers for your query. You see the attachment in this cite HR by Mr.Sharat Mahendra Kumar which is self explanatory.
Adoni Suguresh
Labour Laws Consultant
From India, Bidar
Adoni Suguresh
Labour Laws Consultant
From India, Bidar
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EPS - Form No. 10-D Pension Claim Form Aadhaar.pdf
EPF Pension.xls
Pension.doc