What would the solution be if the employer and employee contribute towards EPFO for an employee who is more than 58 but less than 59?
From India, Noida
1From India, Noida
Hi, PF can be continued even after 58 years but the Pension contribution (8.33%) will not continue and it should be added to Employer share of PF.
From India, Madras
From India, Madras
It will go to the employee's PF account. There was a circular saying that if any employee would like to postpone / deferring pension, he can do so and by doing so he would get an additional amount of 4% in the case of deferring pension upto 59 years of age or 8.16% in the case of deferring pension till 60 years of age. It can be with contribution to Pension account or without contribution. For that the member has to give an option to the EPFO. As this facility is available, the system will show the amount contributed in the Pension account. But when you apply for pension and the options are traced out, the amount would be transferred to PF account on finding that there was no such option filed by the employee. But in order to avoid confusions, you can write to the EPFO that the member's Pension account was wrongly credited by pension contribution and the same may be transferred to PF account. This will be enough.
From India, Kannur
From India, Kannur
@uno online This is useful information I wanna find. Thanks so much!
From Antigua and Barbuda, St John's
From Antigua and Barbuda, St John's
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