Am I Eligible for a Pension After My Company Closed Down? Seeking Advice on ESI

Dear All,

I was working as an assistant at Home Makers Trading Company Pvt. Ltd, Punjabi Bagh Extn, New Delhi from September 1992 to the year 2002, for almost over 11 years. However, the company was closed by its directors and the staff was removed from service. I withdrew my contribution to PF thereafter. Kindly advise me if I am eligible for any pension under the scheme.

Thanks,
Tara Devi

Since you have worked for 11 years, your withdrawal benefit would have been restricted to the Provident Fund only. As such, you will be eligible for a Pension. Please check the letter sent by the EPF office when you received your withdrawal benefit and ensure there is no mention of the withdrawal of the Pension Fund. If there is no mention, contact the EPF Office and arrange to submit Form 10 D to start receiving your Pension. I presume you have attained the age of 50 (for reduced pension) or 58 (for full pension).

Regards, Madhu.T.K

Dear friend,

The pension form is Form 10C, which is required to obtain the scheme certificate and also to secure pension benefits for the member. Form 10D is used for the pension of nominees.

Thank you.

Dear Tara,

Yes, of course, you are not eligible for a pension from any authority. However, if your service is continuous for 15 years and you contribute to EPF, then you must be eligible to receive a pension from the PF department.

Dear Tara,

If you have at least 10 years of service, you will get a reduced pension but after attaining a minimum age of 50 years. If you need relief, you may apply for an advance from the EPFO. Normally, advances are given for specific purposes like the purchase/construction of a house, marriage of self, son, or daughter, medical treatment of self and dependents involving surgery and hospitalization subject to some service conditions.

Regards,
Madhu.T.K

Dear Mr. Madhu,

I want to know how to collect pension Calculation.

For example, if a person worked for 11 years and their last drawn basic salary was $12,000, what is the pension amount they will receive every month?

Warm Regards,
Satya

I want to know about financial activity in a reputed manufacturing unit as an executive.

Warm regards,

Anil Mandiwal

Dear Tara,

As you have withdrawn your full amount from PF, there is no room for advance. Now you will get a pension only. That too after completion of an age of 58 years.

Abbas.P.S

Is there pension eligibility under ESIC? If so, please let me know the eligibility levels.

Regards,
Alice

There seems to be no pension scheme under the ESI Act other than the pension payable in respect of disablement, employment injury, or occupational diseases. However, an employee who has been employed as a covered employee for at least three years (consecutive 6 contributory periods) will be eligible to receive unemployment benefits from the ESI Corporation, subject to certain conditions. A person is deemed to be unemployed for this purpose when their employment is terminated due to the closure of the establishment.

Regards,
Madhu.T.K