In Employees Pension Fund Scheme, the age is 58 years. But for Provident Fund no age is fixed. That means, an employee who has attained the age of 58 ceases to be a member of Pension Scheme.
At the same time, if an employee joins an organisation after 58 years (as there is no retirement age in private sector unless otherwise provided in the Standing Orders) and if such an employee had not been a member of Employees Provident Fund earlier, then he will be covered and he has to contribute to PF.
In such cases, the employer will contribute the entire 12% to his EPF account and not as 8.33% to Pension Fund and the remaining 3.67% to Provident Fund. In the similar way, if a member of provident fund who has withdrawn his PF accululations on attaining the age of 58 and or who is in receipt of pension from the Employees Provident Fund Organisation, joins a company, he will be exempted from contribution.
Regards,
Madhu.T.K