Employee Pension Withdrawal Under EPS 1995: Is Six Months of Service Required?

Dear members,

I have one query about the eligibility of an employee in case of withdrawal of the pension fund under EPS 1995. According to me, if an employee has not rendered service for six months or more, he is not eligible for the pension amount standing against his name under the EPS scheme.

Thanks & Regards,
C.M. Mohla

He is eligible, but he cannot withdraw the same. However, he can transfer it to a new account. After all, it is his own money.

Why the question on 6 months' service? For pension, a minimum of 10 years' service is required. For withdrawal benefits, a minimum of 6 months should be there. If it is below 6 months, there is no option other than adding it to future service.

Abbas.P.S

Hi seniors,

What is the eligibility to withdraw the PF amount? One of the sister concern companies is having its employees transferred to our company, referred to as Company B. Since the service will be continued, I just want to know if the employees' PF can be withdrawn. If not, why?

Alice

Dear Alice,

If the previous account is not transferred or connected to the present service, you simply apply in Form 19 for the withdrawal of PF amount. Regarding EPS, it is better to have a scheme certificate.

Abbas P.S