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Doctor Siva Global Hr
Ceo-usd Hr Solutions
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EPF Pension which is technically known as Employees' Pension Scheme (EPS), is a social security scheme provided by the Employees' Provident Fund Organization (EPFO). The scheme makes provisions for employees working in the organized sector for a pension after their retirement at the age of 58 years.
According to EPFO guidelines, an employee shall cease to be the member of Pension Fund from the date of attaining 58 years of age or from the date of vesting admissible benefits under the scheme, whichever is earlier.
However, in cases of continuation of service, the employer needs to pay the Employees’ Provident Fund Contribution till the date of leaving the service by the employee, irrespective of the age of the member. In this case the full contribution of 12% has to go to PF fund.
The respective PF Enforcement Officer may be contacted for more clarity if needed.
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Doctor Siva Global HR
From India, Chennai
saswatabanerjeeDr.P.SIVAKUMAR The link you have given seemed to be invalid. Please check it.
From India, Mumbai
nanu1953PF contribution can be stopped if the employee is excluded employee. Usually if any employee starts his/her first employment at any age and the PF Gross ( Basic , DA & other regular allowances as per Apex court last verdict) is above 15,000/- per month is considered as excluded employee. Employee joined any organization and was covered under EPFO - subsequently left the organization and settle all dues from EPFO and again joined in any organization where the PF Gross is more than 15,000/- per month is also considered as excluded employee. Employee working with any organization as EPFO member and retired after attaining the age of 58 or 60 years and settled all dues with EPFO and again join in any other organization or same organization even with PF Gross 15,000/- or less is considered as excluded employee.
If the employee continues the existing job without any settlement of EPFO even after attaining the age of 58 , then entire contribution will be deposited to PF Fund only and no contribution to EPS.
S K Bandyopadhyay ( WB, Howrah)
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