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.
Query Regarding Pension Initiation
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
Acknowledge(0)
Amend(0)
10Query Regarding Pension Initiation
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
Acknowledge(0)Amend(0)
From the date he turned 58, the pension contribution should have stopped, even if you had continued to remit amounts into the pension fund. Please check his PF passbook. If it reflects your contributions correctly, both in the PF and Pension Funds, you can write to the EPFO for reconciliation. In the accounts maintained by them, there should be no contribution in the pension fund since he attained the pension age of 58.
From India, Kannur
Acknowledge(0)Amend(0)
From India, Kannur
Acknowledge(0)Amend(0)
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
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
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
Acknowledge(0)Amend(0)
From India, Kannur
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PF Pension fund contribution beyond 58 years of age.pdf