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The "reason for exit" while exiting eps ... should it be "retirement" or should it be "superannuation"?
Dear members few of our employees who have attained 58 years of age are requesting that they be exited form eps so that they can start drawing eps pension they do not want to defer pension till 59 or 60; while continuing pf contribution till age 60 which is our company s compulsory retirement age. my doubt is regarding the "reason for exit" while exiting eps ... should it be "retirement" or should it be "superannuation"? many people whom i have spoken with have advised me to give "superannuation" as the reason for eps exit. but my own understanding is that superannuation means the person has vacated the post he/she is holding and therefore exit reason "superannuation" would mean he cannot continue pf contribution from age 58 to age 60. what is the right thing? would appreciate some input on this.
Gratuity age limit
Respected members i am ramkrishna jamsandekar sr. manager hr. i need a clarification under gratuity act. under the payment of gratuity act 1972 is there any maximum age limit for gratuity. generally organizations fixes superannuation age 58 to 60 years. if an employee continued after reaching 60 years whether he is eligible gratuity beyond the retirement service i.e. after 60 years.
Eps whithdrwal if worked for 1 year at the age of 59
One of our exemployees worked with our company for one year from 20162017. recently he applied for epf and eps withdrawal wherein his eps withdrawal request got rejected due to noneligibility. please confirm if because of his age factor he is not eligible. his current age is 60 years. but year of service is only 1 yrs and for pension scheme minimum service limit is 10 years. please give clarity on this issue.
Can an employee, who had completed 58 years of age but still employed, claim monthly pension under eps?
Can an employee who had completed 58 years of age but still employed claim monthly pension under eps? the employee is still contributing to epf and whole of the employers contribution too is going into epf but nothing into eps below are the full details: employee date of birth: 11.8.1957 date of joining: 1.11.1994 salary at november 1995: rs. 2100/ average salary for 60 months prior to stopping of contribution to eps 6801/ date of stopping of contribution to eps: 1.8.2016
Retirement age of our existing company is 60 years but the working age of the merging company is 58 years
Dear fraternity i have been working in the automobile industries past 10 years now my age around 56 years. our company will be affiliated with our sister concern from april 2022. the retirement age of our existing company is 60 years but the working age of the merging company is 58 years. which of the following applies to me.
Age limits for pf
Can we start a pf fund for an employee who is 58 years old???he is also partially handicapped..and will he be able to withdraw the pf if he works till 60yrs.i.e;2years....what if he continues on payroll even after he is 60 years of age...is there any upper age limit for regards leena