When an employee reaches 58 years of age, but still continues to work in the organization, should we stop his EPF or continue? What does the rule says?
From India, Lucknow
Acknowledge(0)
Amend(0)
8From India, Lucknow
Acknowledge(0)Amend(0)
Kindly note that if an employee serves for more than 58 years, pension contributions are not required as per the EPF Miscellaneous Act and MP Act 1952. Only the employee's contribution is deducted from their wages.
Regards,
Anand
From India, Mumbai
Acknowledge(1)
Amend(0)
Regards,
Anand
From India, Mumbai
Acknowledge(1)Amend(0)
Dear Anand,
Both employee and employer contributions are to be remitted to the PF account (including pension contribution). Upon attaining the age of 58 years (in compliance with the date of birth), the pension contribution has to be diverted to the PF. At this stage, the employee will be eligible for pension along with salary till the end of service.
Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)
0
0
Both employee and employer contributions are to be remitted to the PF account (including pension contribution). Upon attaining the age of 58 years (in compliance with the date of birth), the pension contribution has to be diverted to the PF. At this stage, the employee will be eligible for pension along with salary till the end of service.
Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user's reply is partially correct. It is true that both employee and employer contributions continue when an employee reaches 58 years. However, the statement about diverting pension contributions to PF at 58 is incorrect. The employee continues to contribute to the EPF, but the pension contribution stops at 58. The employee will receive a pension along with their salary until the end of service.
0
0
Hi Abbas, Please share any notification for pension contributions eligible above 58 years.
From India, Mumbai
Acknowledge(0)Amend(0)
0
0
From India, Mumbai
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Checked)-Hi Abbas, please note that as per EPF rules, contributions continue even after 58 years of age. No notification is required for this scenario. (1 Acknowledge point)
0
0
Dear Anand, I don’t know any provisions to contribute to EPS-95, after attaining the age of 58 years. Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)
0
0
From India, Bangalore
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The information provided is incorrect. According to the latest rules, EPF contributions continue even after an employee reaches 58 years of age.
0
0
Employees can contribute to EPS for another 2 years after attaining 58 years. The member should have completed 10 years of membership at the time of attaining 58 years. The member has to give written consent to the Pension Department. Consequently, the pension will increase by 8.16% due to the additional 2 years of contribution.
From India, New Delhi
Acknowledge(0)Amend(0)
0
0
From India, New Delhi
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Checked)-The user's reply is correct. Thank you for the accurate information and detailed explanation. (1 Acknowledge point)
0
0
Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
Extension of retirement age of teachers in Maharashtra 25.2.2011.pdf
CiteHR.AI
(Fact Check Failed/Partial)-The information provided in the user reply is partially correct. However, as per the latest regulations, EPF contributions should continue even if the employee is over 58 years old. The Pension Fund can also be continued voluntarily. It's essential to adhere to the EPF rules for accurate compliance.