Is a 59-Year-Old Senior Manager Eligible for Provident and Pension Funds? Seeking Advice

Hi all,

I have a senior management guy joining our board now. He is aged 59. His contract includes provident fund benefits.

I have the following doubts:

1. Whether he is eligible for PF as he is above 58, which is considered to be the retirement age.
2. If he is eligible for PF, then whether he is eligible for the pension fund? If not, what will be the deduction from his pay and what will be the company's contribution? Or will the whole 12% go to PF??

Please help.

Regards,
Harikeyel

Hi,

If you have not received an answer to your problem, please mention it again. I can help you with this subject.

Best Regards,
Prashant Patil

There are certain sectors like banks and teaching where retirement age is 60 and 62. Normally, if an employee retires at 58, he is usually engaged on a contract for a consolidated sum, minus the usual benefits such as travel and medical, etc.

Surya