Can I Combine My Past and Current Pension Contributions for Better Benefits? How Does It Work?

I worked in a private company for 11 years. I withdrew PF and Scheme Certificate for Pension; however, the certificate still has to be issued by the department as my application had some discrepancies. Currently, I have been working in another company for the last 5 years. Can my length of service be added to the 11 years I previously worked? Is there any benefit to getting it added? What is the procedure if I prefer to attach the current pension deduction to my old pension account?

If I complete another 10 years in the new company as well, would I be eligible for two separate pensions? Or would this affect my existing pension?

You can very well add your previous company pension to the present company. All you need to do is get the PF number from your previous company and give it to the present company's HR, asking them to merge it. You can also do this for all your companies.

Regards

PF Withdrawal and Pension Scheme Clarification

PF withdrawal is independent of the Pension scheme.

If you have submitted Form 10C, which is for the Pension account, please verify whether you have opted for a Scheme certificate. The scheme certificate will contain your last drawn wages in the previous establishment and the number of years of your service in the organization.

Once you receive the scheme certificate, please preserve it and submit it at the time of your superannuation when you will submit the form for the settlement of your Pension account. At that point, the EPF office will consider the service rendered by you in the scheme certificate along with the service rendered by you thereafter.

There are also instances wherein the employee will join an organization that does not have PF coverage subsequently and then join a PF-covered establishment later. In such a case, the service indicated in the scheme certificate will still be considered valid, even though there is a brief discontinuity in your service.

Trust the matter is clarified. In short, the past service will be taken into account while computing your pension at the time of your superannuation.

Best regards,

M.V. Kannan

EPF will not provide two pensions to a member. Also, it will not review the pension once released unless due to an error from EPFO.

Regards,
Abbas P.S

Can anyone tell me what is the time required to transfer the employee PF amount from the previous employer's PF account to the current employer's PF account after submitting Form 13?

Thanks,

Subrahmanyam

You can consolidate your 11 years of EPF contributions from your previous company by completing Form 13 along with your previous company's service certificate, including the Old PF No. (Transfer of PF Form), and submitting them through your new employer. By doing so, your old PF account and your new PF account will be merged, resulting in a significant pension provision for your retirement years.

With warm regards,

S. Bhaskar
[Phone Number Removed For Privacy Reasons]

PF Withdrawal and Pension Scheme Certificate

PF withdrawal is independent of a pension scheme. If you have submitted Form 10C, which is for the pension account, you will receive a scheme certificate. Since you have more than 10 years of service, the PF office will issue the scheme certificate. After receiving the scheme certificate, please submit a photocopy to your present employer for information (you can find this instruction on the scheme certificate as well).

Later, preserve the same and submit it at the time of your retirement when you will submit the form for the settlement of your pension account. At that point, the EPF office will consider the service you rendered as per the scheme certificate along with the service rendered thereafter.

Best regards,

Madhu Mohan Bangalore

Dear Madhu, 10 years of service is immaterial in the case of a scheme certificate. Those having one day of service in EPS are eligible to get a scheme certificate. The only condition is that they should not attain the age of 58 years. Ten years are required for a pension only.

Regards,
Abbas. P.S

What is that handsome pension? As I understand, you will get a maximum of ₹2200/- regardless of the maximum amount of contribution and a minimum of 10 years of a period.

Regards,
Ramnath

Here, I would like to share my view that you have to apply for the transfer of your EPS amount in the PF code number (in your present PF number) by filling out Form 13. After discussing this with the relevant RPFC personnel and detailing all incidents in a covering letter accompanying Form 13, at the age of 50, you can apply for a reduced pension. For any clarifications, you can email me at [Email Removed For Privacy Reasons].

Thanks,
Sunil Sharma
Sr. Executive HR

Dear Mr. Das, I would like to share my view that you have to apply for the transfer of your EPS amount in the PF code number (in your present PF number) by filling out Form 13. After discussing with the person in charge at the concerned RPFC and detailing all incidents in a covering letter accompanying Form 13, at the age of 50, you can apply for reduced pension.

You can receive only one pension from RPFC; you cannot apply for two pensions based on your employment.

For any clarification, you can email me at [Email Removed For Privacy Reasons].

Thank you,

Sunil Sharma
Sr. Executive HR

More at: https://www.citehr.com/303200-pentio...#ixzz18HAysXqO

Can anyone tell me what is the time required to transfer the employee PF amount from the previous employer PF account to the current employer PF account after submitting Form 13?

Thanks,
Subrahmanyam

Generally, the EPF office takes 45-60 days to transfer the PF account. In rare cases, this period may extend to 120 days.

Regards,
M.V.KANNAN

Please advise on the exact calculation of the pension. Are any allowances payable with the basic pension amount?

Please confirm.

Regards,
A. K. Das

Pension is paid based on the last drawn wages (Basic + DA), but the wage ceiling under the act is currently Rs. 6500/-. The pension is a consolidated amount and does not include any allowances such as DA as it is applicable for Government pensioners.

Trust the matter is clear.

Regards,
M.V. Kannan

Thank you very much for your reply. The matter is clear now. However, I have another query. Could you please advise if the maximum pension payable to private company's pensioners is Rs. 6500/-, then there must be some fixed minimum amount as well. What is that?

Awaiting your reply.

Best regards,
A.K. Das

I do not have the pension calculations at my fingertips, but I will be able to revert to you in a day or two as I am away on a holiday. Kindly bear with me until then. However, I feel that Mr. Abbas, who is very much conversant with the PF and pension schemes, will be able to shed some light almost immediately.

Regards,
M.V. Kannan