Confused About EPS Withdrawal? When Can You Claim Your Share After Resignation?

Dear Friends,

I had resigned from my previous organization and have applied for PF withdrawal benefits. Hence, my payroll department has sent me Form 19 and Form 10C. According to them, I am eligible only for my 12% share and 3.67% share from their side in the EPF account and not the 8.33% contribution in the EPS account from their side.

Eligibility for EPS Share

Can anybody tell me when and in which situations I will be eligible for this EPS share and how I can receive its benefits?

Thanks,
Kavita

Yes, you are eligible for a total employee share of 12% plus an employer share of 3.67%, and your balance of 8.33% is deposited into your Pension Fund. If your total completed years of service are 10, then you are not getting your pension amount now. You will receive a Scheme Certificate from the PF office named "Scheme Certificate." It should be produced at the PF office when you reach age 50 (for reduced pension) or at age 58 when you will be eligible for a pension from the PF office. If you have not completed 10 years, then you must claim your pension fund amount.

Normally, EPS eligibility will apply after six months of contribution. In that case, you are eligible to withdraw your EPF, i.e., 12% + 3.67% employee contribution and 8.33% employer contribution towards EPS. If your service in that company or your contribution is less than six months in the EPS scheme, the employer's 8.33% contribution will not be entitled to withdrawal from the PF office, and you won't receive any scheme certificate.

If your contribution towards EPS is more than 120 months, you are eligible to receive a monthly pension after reaching the age of 50. You can start receiving the pension from the PF office at that point.

Regards,
Siva Kumar Tata

As far as I know, one can withdraw the pension amount and PF amount after six months by filling out Form 19 and 10C, even if he/she hasn't reached the age of 50 or 58 years. Please correct me if I am wrong!

You are correct, V.B. However, the thing is that, "If your contribution towards EPS is more than 120 months, then you are eligible to receive a monthly pension after attaining the age of more than 50 years, and you can get the pension from the PF office," as told by Shiv Kumar Tata, is also correct.

If your service in that company or your contribution is less than six months in the EPS scheme, i.e., the employer's contribution of 8.33%, you will not be entitled to withdraw from the PF office.

Regards,
Debmalya

I agree with Mr. Siva Kumar Tata. You are definitely eligible to get the EPF amount (12% Employee contribution + 3.67% Employer Contribution) if you have contributed to the fund continuously for 3 months, and the Pension amount of 8.33% also if you have contributed to the fund continuously for 6 months.

Regards,
Jayapal Nial

Pension Eligibility Conditions

The pension amount is not eligible to claim under the following conditions:

• If you work less than six months and then resign, you cannot claim the pension.

• Another condition is that if you work for more than 9 1/2 years, it will be considered as 10 years, and you will not be able to claim the pension. In such cases, you will be given a scheme certificate.

Regards,
V. Subbarao

I need one clarification. If a PF member's account duration is below six months, specifically at 4 or 5 months, can they wait for 1 or 2 months while on leave and then receive both the employee and employer portions from the PF office? Please explain.

Dear Experts,

I have completed 14 years and 7 months in ONGC. I have already received my PF amount. Till today, the company has only paid me the PF amount. Am I eligible for the Pension Scheme, and at what age? Currently, I am 43 years old. The company has not yet sent me the Gratuity Withdrawal Forms and the Social Security Form, even though I have contributed this amount from my salary. Please provide me with some suggestions in this regard.

Regards,
Harish B. Tote

As far as I know, a person needs to meet the following points before they can avail this facility:
1. Minimum 10 years of eligible service
2. Must have attained the age of 58 years.

If a person wants to avail their pension before the age of 58 years, they will be able to do so. However, they cannot avail it if they are below the age of 50 years.

In case of death and disablement, no such eligibility requirement shall apply.

Hope this information helps.

Regards,
Sly