Sr.executive (per & Adm)
Statutory Complaince/labour & Employment
Human Resource Executive- Service
You have option, either be paid pension as admissible under this Scheme on attaining the age exceeding 50 years or
may be apply for scheme certificate issued by the PF Commissioner through your employer indicating the pensionable service, the pensionable salary and the amount of pension due on the date of exit from the employment.
If you subsequently employed in an establishment coverable under this Scheme, your earlier service as per the scheme certificate shall be reckoned for pension alongwith the fresh spell of pensionable service.
In case of postponing the commencement of payment of pension shall also be entitled to additional relief sanctioned under this scheme from time to time.
Further if you does not take up an employment coverable under this scheme, but dies before attaining the age of 58 years, the amount of contributions received in his case shall be converted into a monthly widow pension/children pension.
6th June 2014
Since you are the member of EPF and EPS for a nine and half years, my advice is that to get transferred your contribution from the previous company to the present company by applying in Form No.13, through your present employer. Once it is transferred your account t will be regularized and every year you will get your statement inn Form No.23, from EPFO. Where as you will not get any details as regards to EPS. It will be account ed only after your attaining the age of 58 years as stipulated in the scheme. The minimum pensionable service is required is 10 years. Since you are already completed the required service do not think of with drawl of anything from provident fund. or EPS You will be benefited in longer run as you are in thirties when you retire you will get monthly pension under scheme which is more beneficial rather than getting now.
Sr.Executive (Pers, Admin & Ind.Rels)Rtd
Labour Laws Consultant
11th June 2014 From India, Bidar
You have been correctly told that you can avail of EPS 1995 benefits at 58. Only ensure that whenever you change job, you continue the same EPF account. If you close it and opt for a new EPF account, you will lose the past benefits.
Thanks & regards,
12th June 2014 From India, Pune
12th June 2014 From India, Trivandrum