Dear sir,
I am finding difficulty while filling Form 10C. I would like to have your guidance on the same. Please let me know about the following details:
1. I want the company to transfer the pension amount to my bank account. Do I have to fill the ADVANCE STAMP RECEIPT section on page 3? If yes, what should I mention in "Received a sum of Rs_ _ _"?
2. What should I mention in point no. 12 [Are you availing pension under EPS-95?]? In the same point, they have asked about PPO NO. _________________ By Whom Issued ________________ Please guide on what to be filled here.
3. Point 8 is "Are you willing to accept the scheme in lieu of withdrawal benefit?" Should I mention Yes here?
4. Do I need to stick a revenue stamp?
Thank you for your assistance.
From India, Thana
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I am finding difficulty while filling Form 10C. I would like to have your guidance on the same. Please let me know about the following details:
1. I want the company to transfer the pension amount to my bank account. Do I have to fill the ADVANCE STAMP RECEIPT section on page 3? If yes, what should I mention in "Received a sum of Rs_ _ _"?
2. What should I mention in point no. 12 [Are you availing pension under EPS-95?]? In the same point, they have asked about PPO NO. _________________ By Whom Issued ________________ Please guide on what to be filled here.
3. Point 8 is "Are you willing to accept the scheme in lieu of withdrawal benefit?" Should I mention Yes here?
4. Do I need to stick a revenue stamp?
Thank you for your assistance.
From India, Thana
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If you want a withdrawal benefit, you have to sign on the revenue stamp affixed in the space provided. The amount will be filled in by the Employees' Provident Fund Organisation after working out the amount payable.
Since you are not already an EPF pensioner, you can write "Not" against Q. No. 12.
Q. No. 8 stands for whether you would like to collect a scheme certificate or would like to withdraw the amount. If you opt for "yes," you will not receive your pension accumulations in cash but will get a certificate called a scheme certificate from the EPFO, certifying your service and membership with PF, showing the nominees/spouse, and names of children who will be eligible to receive a pension in case of any unfortunate event happening to the member. This certificate can be surrendered when you join another employment where PF is applicable. By doing so, your past service will be added to the service you are pursuing for the purpose of pension calculation. Therefore, if you wish to withdraw the accumulation, you have to write "NO" against Q. No. 8.
Invariably, an employee who has been in service for ten years (at least 9 years and 6 months) cannot go for a withdrawal of the pension fund but has to opt for a scheme certificate only.
Regards,
Madhu.T.K
From India, Kannur
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4526Since you are not already an EPF pensioner, you can write "Not" against Q. No. 12.
Q. No. 8 stands for whether you would like to collect a scheme certificate or would like to withdraw the amount. If you opt for "yes," you will not receive your pension accumulations in cash but will get a certificate called a scheme certificate from the EPFO, certifying your service and membership with PF, showing the nominees/spouse, and names of children who will be eligible to receive a pension in case of any unfortunate event happening to the member. This certificate can be surrendered when you join another employment where PF is applicable. By doing so, your past service will be added to the service you are pursuing for the purpose of pension calculation. Therefore, if you wish to withdraw the accumulation, you have to write "NO" against Q. No. 8.
Invariably, an employee who has been in service for ten years (at least 9 years and 6 months) cannot go for a withdrawal of the pension fund but has to opt for a scheme certificate only.
Regards,
Madhu.T.K
From India, Kannur
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Understanding the Employees' Pension Scheme, 1995
For details, you may refer to the Employees' Pension Scheme, 1995, in full. The determination of the pension is given in Scheme 12.
Checking PF Balance Status
In order to know the status of your PF balance, you can meet the PRO in the PF Office, where you can get direct and updated information if the online facility does not work. Normally, if the name with the exact spelling is not given, the online system will not accept it. In such circumstances, the conventional way of collecting the details is the remedy.
Defaulters List
You can also get the defaulters list from the website so that you can ensure the company has not been paying the PF.
Regards,
Madhu.T.K
From India, Kannur
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For details, you may refer to the Employees' Pension Scheme, 1995, in full. The determination of the pension is given in Scheme 12.
Checking PF Balance Status
In order to know the status of your PF balance, you can meet the PRO in the PF Office, where you can get direct and updated information if the online facility does not work. Normally, if the name with the exact spelling is not given, the online system will not accept it. In such circumstances, the conventional way of collecting the details is the remedy.
Defaulters List
You can also get the defaulters list from the website so that you can ensure the company has not been paying the PF.
Regards,
Madhu.T.K
From India, Kannur
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