No Tags Found!

Raj Kumar Chauhan
1

Dear Expert, I have a question: Will an EPS member who has completed ten years of service and has not yet reached the age of 58 still work?
Then, how is the further pension calculated? Is there any specific formula? Or does he want to withdraw the entire amount of pension from any of the options?

Please help

From India, Mohali
vmlakshminarayanan
919

Hi,

After 9.6 years of continuous service Member will not be able to withdraw pension contribution. Can apply for scheme certificate only. After attaining 58 years Member can apply for full pension or can apply for reduced pension after 50 years.

Completing 10 years service has nothing to do with 58 years. Yes employee can continue. Please note that even after 58 years Employee can continue in service if employer is ok with it. Only thing is that Pension contribution will not continue after 58 years whereas PF contribution can be continued.

From India, Madras
Raj Kumar Chauhan
1

Dear Sir, Thanks for the update one more thing is how to calculate pension after completing 10 years of service or 58 years? Please check if I am right (Pension Pay*Total EPS Service/70)
From India, Mohali
Srinath Sai Ram
609

Dear Mr Lakshmi Narayanan, EPS Member can opt for reduced Pension after Completion of 55 Years as per Amendment (Not after Completion of 50 Years)
From India, New Delhi
kamlesh111
10

On the point that Pension contribution will not continue after 58 years, it is clarified that based on the circular of 2016, the member can opt for deferment of pension up to 60 years with or without contribution.
I am running 60 and still contributing to the pension fund.

Regards,

From India, Delhi
vmlakshminarayanan
919

Dear Mr.Srinath, Thanks for the update. Do you have any amendment notification copy . If so please share.
From India, Madras
vmlakshminarayanan
919

Dear Dr.Kamalesh, Thanks for the update.
From India, Madras
vmlakshminarayanan
919

Dear Raj,

Pension amount will be determined by PF Authorities.

To know the projected Pension amount respective contributing members who had completed 10 years of service can refer the PF passbook login wherein projected pension illustration is provided.

From India, Madras
Srinath Sai Ram
609

Dear Sir, Please find Press Information enhancing Age for Short Term EPS Pension to 55 Years (From 50 Years)
From India, New Delhi
Attached Files (Download Requires Membership)
File Type: pdf Age for Short Term EPS Pension is 55Years 12-03-2015.pdf (121.1 KB, 0 views)

Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR

All Copyright And Trademarks in Posts Held By Respective Owners.