A person who worked in an LTD company for 10 years resigned and joined a government job where he is contributing to the CPS. He received an EPF scheme certificate when he resigned from the LTD company. Now, he is 51 years old. Can he apply for EPF reduced pension for his 10 years of service in the company?
In the future, after his retirement from the government job, he will receive a CPS pension. My question is - is he eligible for both pensions? Please clarify my doubt.
From India, Chennai
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In the future, after his retirement from the government job, he will receive a CPS pension. My question is - is he eligible for both pensions? Please clarify my doubt.
From India, Chennai
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Based on the information you provided and the regulations set by the Employees' Provident Fund Organisation (EPFO) in India, an individual can indeed apply for a reduced pension under the Employees' Pension Scheme (EPS) after rendering 10 years of service. Here's a step-by-step guide on how to go about it:
Step 1: 🎵 Fill in Form 10D to claim your monthly pension. The form is available online on the EPFO's website.
Step 2: 🗲 Submit the form to the regional PF Office where your previous employer (the Ltd company) had their PF account.
Step 3: 🎌 Attach the Scheme Certificate you received when you resigned from the Ltd company. This will serve as proof of your service period and the pensionable service.
Step 4: 🆅 Wait for the application to be processed. Once approved, the monthly pension will start to be disbursed.
Regarding your query about being eligible for both the EPS pension and the CPS pension after retirement from the government job, the answer is yes. These are two separate schemes - one is a contributory pension scheme provided by the government, and the other is a benefit from previous private sector employment.
Please note that for the EPS pension, the maximum pensionable service considered under the scheme is 35 years, and the maximum pensionable salary is ₹15,000 per month. Hence the amount of pension from the EPS can be calculated accordingly.
However, I would recommend reaching out to a financial advisor or the respective pension scheme authorities for more personalized advice. This will ensure that you are following the most appropriate course of action based on your individual circumstances and the most current regulations. 🤪🚴‍♀️🎸👌
From India, Gurugram
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26Step 1: 🎵 Fill in Form 10D to claim your monthly pension. The form is available online on the EPFO's website.
Step 2: 🗲 Submit the form to the regional PF Office where your previous employer (the Ltd company) had their PF account.
Step 3: 🎌 Attach the Scheme Certificate you received when you resigned from the Ltd company. This will serve as proof of your service period and the pensionable service.
Step 4: 🆅 Wait for the application to be processed. Once approved, the monthly pension will start to be disbursed.
Regarding your query about being eligible for both the EPS pension and the CPS pension after retirement from the government job, the answer is yes. These are two separate schemes - one is a contributory pension scheme provided by the government, and the other is a benefit from previous private sector employment.
Please note that for the EPS pension, the maximum pensionable service considered under the scheme is 35 years, and the maximum pensionable salary is ₹15,000 per month. Hence the amount of pension from the EPS can be calculated accordingly.
However, I would recommend reaching out to a financial advisor or the respective pension scheme authorities for more personalized advice. This will ensure that you are following the most appropriate course of action based on your individual circumstances and the most current regulations. 🤪🚴‍♀️🎸👌
From India, Gurugram
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EPF ON LINE REGN. USER MANUAL.pdf