Dear seniors, good evening,
I have learned a lot from all of you. I have just joined an organization in which a person has been working since 2011; he is 62 years old. When I filed ECR, I noticed that along with PF, his contributions were also deposited in the pension fund. Upon noticing this, I promptly ceased his pension contributions and transferred all the funds into the PF account.
Now, my query is, considering the person has been working for approximately 15 years, how will his pension be initiated? Additionally, I am curious as to why his pension contributions continued even after crossing the age of 58, with the accumulation persisting until 62 years. I am seeking guidance on how his pension can be started and whether his funds can be redirected into the PF account.
Thank you.
From India, Delhi
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10I have learned a lot from all of you. I have just joined an organization in which a person has been working since 2011; he is 62 years old. When I filed ECR, I noticed that along with PF, his contributions were also deposited in the pension fund. Upon noticing this, I promptly ceased his pension contributions and transferred all the funds into the PF account.
Now, my query is, considering the person has been working for approximately 15 years, how will his pension be initiated? Additionally, I am curious as to why his pension contributions continued even after crossing the age of 58, with the accumulation persisting until 62 years. I am seeking guidance on how his pension can be started and whether his funds can be redirected into the PF account.
Thank you.
From India, Delhi
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From the date on which he became 58, the pension contribution would have stopped even if you had remitted the amounts in the pension fund. Please check his PF passbook. If it reflects as per your contribution, i.e., both in PF and Pension Funds, you can write to the EPFO for reconciling. In the accounts maintained by them, I believe it should be like no contribution in the pension fund since his attaining the age of pension, i.e., 58.
From India, Kannur
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From India, Kannur
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Respected Madhu Sir Good Morning !! Sir, I have learned a lot from you, you always reply quickly, for this I thank you,
From India, Delhi
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From India, Delhi
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Respected Madhu Sir Sir, pension contribution up to December 2022 is visible in that employee’s PF passbook, show me the direction for further Thanks & Regards Khirod Kumar Linka
From India, Delhi
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From India, Delhi
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Okay, you may go to the office of the Assistant Provident Commissioner at the Sub-Regional Office and meet the Accounts Officer to reconcile the matter. You can also take a letter asking them to reconcile and make necessary corrections in the accounts. They will handle it.
From India, Kannur
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From India, Kannur
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PF Pension fund contribution beyond 58 years of age.pdf