Assistant Engineer, Indian Telephone Industries,
Junior Executive - Human Resource
Your question is very genuine. Monthly pension means it is the interest of our deposits. Then what about our deposit? Because of this reason, section 13 had been introduced to give 'Return on Capital'. As per this clause, either 1) after death of the member, nominee will get 100 times of original pension amount or 2) after death of member and widow/widower, nominee will get 90 times of original pension amount or 3) after 20 years member/nominee will get 100 times of original pension (3 options). But as per GSR No. 688 (E) dated September 26, 2008, this provision along with commutation has been deleted. None of the Trade Union in India have raised any objection, but continued to demand hike in pension.
If the member have no dependents, he can nominate another person to receive subsequent benefits.
16th December 2014 From India, Bangalore
16th December 2014 From India, Sivakasi
1. The member should have a service (past +pensionable) of 10 years in EPS.
2. If the member continue in service, 58 years' completion (age) is required.
2. If not in service pension (with reduction of 4% for each year below 58 years) can be availed after completion of 50 years.
22nd December 2014 From India, Bangalore
I'm planning to start a job consultancy based in Coimbatore & Ooty, I need some company contacts to place candidates. I planning to doit in service base to the candidates ( i.e.) if the company does not want to pay the placement charges, I will get minimum charges from the candiates (15 to 20 % from the first month salary). I will be really happy for your supports.
22nd December 2014 From India
Contribution to the PF account should be continuously for 10+ years. Like if you have changed your employer please don't withdraw PF; Transfer it to the new employer by filling Form - 13. So to get the said benefit you should be having active PF account for at least for 10 Years where there is uninterrupted contribution added.
22nd December 2014 From India, Ahmedabad
I am Working as a Junior HR Executive & my nature of work is handling recruitment, salary processing & taking care of employee's grievance.
I would like to get placed in IT sector as an HR, can someone suggest me or give me some reference to play a vital role in IT field?
19th January 2015 From India