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Dear Sir,
Our employees exceeding 60 yrs of age, & also continue in service. May i continue his PF dedction as before with Pension contribution ????? pls. suggest ..... .
Nagesh Kadu
Mob - 9371945646
From India, Nagpur
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Dear Nagesh, There is no age limit for EPF contribution. But the contribution to pension fund is to be stopped, from the date of attaining 58 years. Abbas.P.S
From India, Bangalore
Dear Nagesh,
There is no age bar for contribution to PF. But the contribution to pension fund hast to be stopped from the date of attaining 58 years.
For example: if Date of Birth is 2.10.1952, completion of 58 years will be on 1.10.2010. In this case contribution has to be paid till 1.10.2010. From 2.10.2010 onwards he is eligible for pension alongwith salary.
If 58 years is already completed, apply for pension immediately & cotact the Office of PF Commissioner to revert the EPS contribution after the age of 58 years as employer's contribution to PF.
From India, Bangalore
Mr Abbas is write. His contribution alongwith Employer’s contribution will go to EPF only. N N Tiwari
From India, New Delhi
I understand that an employee who having been a member of Pf and has withdrawn the PF benefits after attaining at least 55 years of age or the age of superannuation or an employee who is in receipt of PROVIDENT FUND PENSION (not any State or Central Government pension) is an excluded employee. As such, if an employee continues his service after 58 and is in receipt of Provident Fund Pension, no need to contribute even towards provident Fund. Certainly, if the employee and employer wish to contribute PF contribution is possible but restricting the full contribution to Provident Fund alone.
From India, Kannur
Its means that PF contribution of employer will be 3.67% only , as i know the rest 8.67% goes in pension scheme Regards, Salman
From India, Delhi
Dear Nagesh,
Mr.Abbas has clearly explained the matter with an example. He is right.
To elucidate further. Please note in your annual account slip (Form 23) only the PF contributions are reflected and this is explicitly explained on the reverse of the account slip.
The Pension amount is maintained by the EPFO as a corpus fund and upon your furnishing details in Form 10C or 10D the pension is worked out. In other words if you contribute any amount in Pension account after 58 years of age it does not accrue in the employees account and actually goes into the corpus account, so it is important that you do not contribute to Pension account after 58 years.
Trust the matter is clear.
From India, Madras
Dear Nagesh,
The matter in query is interpreted rightly by both Mr. Abbas and Mr. Madhu, choice is yours employee and employer whether choose to contribute or not as matter became optional.
but u write the age of employee 60, so, prior to 2 years what was the position of contribution? becoz after 58 pension contribution has to stopped mandatory.
Pls. check this point and go for remedy.
From India, Kolhapur
Dear Madhu.T.K,
Those who have 9 years & 6months or more EPS applicable service and left out can avail PF pension on attaining the age of 50 years. If such employees again come under EPF, the pension one availed will not be reviewed, unless some error from PF authorities. Full contribution will go to individual PF account. I don't know what is the significance of the age 55 years in this regard.
From India, Bangalore
Dear Nagesh There is no age bar for contribution to PF. But the contribution to pension fund to be stopped . Sameer Pandey
From India, Mumbai
We are in the process of getting new PF account for newly started organisation. Kindly clarify the following :-
a) Minimum number of personnel for PF contribution.
b) Kinds of payments made to employees but not to be taken into PF calculation
c) documents to be submitted PF Commissioner.
From India, Madras
Dear Cite HR Colleagues,
One of our employee, joined in the month of Jan 2010 and he has completed 58 yrs in the month of september 2010.The problem is that, he has worked for only 9 months in his new PF account. So,is he eligible for pension or not ? please suggest.
Rgds/parvathi shetty
From India, Mumbai
Dear Parvathy,
You have mentioned that the employee has 9 months service in new job. What about the previous Jobs? If altogether he has 9 years & 6 months or more service in EPS, he is entitled to get pension. Otherwise apply for withdrawal benefit.
From India, Bangalore
Dear Means that PF contribution of employer will be 3.67% only , as i know the rest 8.33% goes in pension scheme. Regards, Manish Dave 09998325930
From India, Pune
Dear Manish, Even thouh pension contribution is 8.33%,there is a ceiling for pension contribution i.e Rs. 541. Accordingly rest of the amount will go to individual PF account. Abbas.P.S
From India, Bangalore
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