EPF After 58 Years - Pf Contributions
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EPF After 58 Years - Pf Contributions

ankitaadhikary Started The Discussion:

Hi Seniors,

we have retained some employees in service after their 58 years in our company retirement age is fixed at 58 years. but we retained them as they are still efficient and want to work. my question is it compulsory by law to deduct their pf contribution? Employer should add full 12% to pf account or only 3.67% to EPF



waiting for your suggestions..
Regards
Ankita

eswaa1979 - Member Since: May 2009
Hi,

If they complete 58 years bring them into consultant role then there is no need to pay anything once all settlement over.

If you want them to continue in roll all PF contributions goes to AC no 1, because they will receive pension after 58 years.


Hope this will clear

If any doubt call em

Regards
Eswar.K
Manager-HR
08056041800

nitesh_barman - Member Since: May 2008
After attaining 58 years of age, EPS Contribution (By Employer 8.33 %) will add to EPF Contribution (By Employer). That mean even in such conditions, employer has to contribute same 12%.

ankitaadhikary - Member Since: May 2012
1.what is the procedure to start their pension benefit for those employees

2. And few of them wants to withdraw their pensionable amount while they are still working


Sir what should i do plz guide me?
Thanks
Ankita

SHYAM.THAKUR@ADANI.COM - Member Since: Jul 2011
Dear Ankita They have to fill up form no 19 & 10 C forms but 8.33 % of pension fund could not be withdrown if he complited the services of 10 years.

nitesh_barman - Member Since: May 2008
You will get all information regarding your queries, just click on link. (EPFO) at http://www.epfindia.com/faq.htm

rajugnawali - Member Since: Jan 2011
Dear Ankita,
PF can be continue after 58 years. The employee can claim Pension still in service. While uploding File in e-sewa and making contribution, you have to make contribution/payment in Provident Fund Account only. Need not pay contribution in A/c No 10. In my organisation also, around 15 employees are there who are still in service and contributing to PF, simultaneously getting monthly pension from Pension Scheme 1995.

Thanks & regars,

Gaurav Upadhye
Pune

Quote:
Originally Posted by ankitaadhikary View Post
Hi Seniors,

we have retained some employees in service after their 58 years in our company retirement age is fixed at 58 years. but we retained them as they are still efficient and want to work. my question is it compulsory by law to deduct their pf contribution? Employer should add full 12% to pf account or only 3.67% to EPF



waiting for your suggestions..
Regards
Ankita

ankitaadhikary - Member Since: May 2012
Hi Gaurav Thanks for your information can i submit form 10c to claim their monthly pension? Or can u tell me the procedure? Thanks & Regards Ankita

rajugnawali - Member Since: Jan 2011
Dear Ankita,
You have to submit the Form 10-D for claiming the Pension. Even though, the employee is still alive, please submit the details, like Descriptive Roll of Family members, e.g. spouse, chindren age proof documents etc alongwith the 10-D, to avoid any complications.

Thanks & regards,

Gaurav Upadhye.

Quote:
Originally Posted by ankitaadhikary View Post
Hi Gaurav

Thanks for your information can i submit form 10c to claim their monthly pension? Or can u tell me the procedure?

Thanks & Regards
Ankita

sunderrajen@peccomponents.com - Member Since: Dec 2011
Dear Ankita

I am explaining the procedure for claiming PF amount.

(1) If your employee has attained superannuation but continuing his employment with you without any break, you will have to continue deducting his PF. Entire company contribution of 12% has to go to A/c No.1

(2) If the employee has completed 10 years (or more) of service at the time of superannuation , then he is eligible for monthly pension. You can fill up Form 10-D and submit with necessary enclosures.

(3) If the employee has not completed 10 years of service at the time of his superannuation, then please submit Form 10-c. he will receive the accumulations of his pension account.

As regards to claiming of PF (A/c No.1), so long as the person continues in employment and PF is being deducted, you should not submit claim in Form 19. Once the person leaves the employment, he can submit the same.

All the above mentioned forms are available in PF web site and can be down loaded.



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