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In employees pension fund scheme the age is 58 years. but for provident fund no age is fixed. that means an employee who has attained the age of 58 ceases to be a member of pension scheme. at the same time if an employee joins an organisation after 58 years as there is no retirement age in private sector unless otherwise provided in the standing orders and if such an employee had not been a member of employees provident fund earlier then he will be covered and he has to contribute to pf. in such cases the employer will contribute the entire 12 to his epf account and not as 8.33 to pension fund and the remaining 3.67 to provident fund. in the similar way if a member of provident fund who has withdrawn his pf accululations on attaining the age of 58 and or who is in receipt of pension from the employees provident fund organisation joins a company he will be exempted from contribution. regards madhu.t.k
Provident fund - distribution of employer/employee contribution?
According to the fund act of 1952. employees contribution is 12 basic wages goes to the pf. employers contribution 12 8.33 goes to the pension and 3.67 goes to the pf. and i m totally confused about this provident fund. can anybody help me in this regard. k. ravi kumar. ph: 09989111149 hyderabad
Pf
Dear friends i would like to know one clarification from you. while studying pf. act of 1952. under prefatory note i m not able to understand the below point. the establishments belonging to or under the control of the central government or state government and establishments set up under an act of parliament or state legislature whose employees are entitled to the benefit of contributory provident fund or old age pension under any rule or scheme governing them are being excluded from the purview of the act so as to enable the employees provident fund organization to concetrate on establishments whose employees are not entitled to the benefit of provident fund or pension under any other law or scheme. this with regards k. ravi kumar. email: kasinaravikumargmail.com ph: 09989111149
Interest on provident fund - calculation.
Dear seniors 1 how interest on provident fund calculated. 2 while withdrawal of pf after resignation/termination before 55 years of service does the employee get the employers share of pension scheme provident fund and how it is compiled? 3 are there different procedures of calculation of interest to pension fund provident fund and waiting for your kind reply. regards shreekanth.p.r
Epf & eps
Dear all i am working for an tata company hr department & we have a pf corporate trust at mumbai. i always get confused in pf & pension matters my clarifications are as under : 1 as per my understanding the full contribution of the employee will go the provident fund i.e the pf trust at mumbai & the employer contribution of 12 is further bifurcated into pension of 8.33 on rs.6500/ which is maximum of rs.541 & balance of 3.67 to the provident fund which makes up to 12 finally hope the same is the calculation wherever pf trust is available. 2 an employee who works for 22 years & quits the co. at the age of 52 how do we arrange for his pension...he does not want to receive pension can he claim that amount through the pension office through form 10 c settlement or how does he go about ?? 3 i was informed by my seniors that if an employee is in service more than 5 years & above & quits the company he cannot claim the pension & he has to take an scheme certificate is it so ?? 4 in case of transfer wherever pf trust is available how does one can get his pension transfer done ?? please share a presentation or some more information on this... thanks in advance. regards..malini
Provident fund and pension
Hi we contribute 12 towards pfout of which 8.33 goes to pension and rest to pf. we can withdraw the pf amount when we leave the organisation but what about the pension amount..how do we get that? do we receive the pension amount when we leave or what is done with that amountit remains with the organisation or paid of to the employee?