Conditions For Withdrawl Of Pension Amount From EPF

Hi All,

My querry is regarding EPS.

As per the EPF law, 12% of company's contribution is divided into 8.33% towards EPs and the rest into EPF (3.67%).

Now there are 2 conditions for withdrawal of EPS:

1. One is liable for pension only if one has completed the age of 58.

2. One is liable for pension only if he has completed 10 yrs of service.

How are these 2 conditions related?

Case 1:For example if I start working at the age of say 25 yrs, after 10 yrs of service I am 35 yrs. Since i have completed 10 yrs, am I liable to get the EPs in case i withdraw my PF? Or do i need to wait till attaining 58 yrs?

case 2: In a second case, I was a businessperson and started working (in a job) late. If at the age of 58 yrs, i have not completed 10 yrs of EPF contribution, do i get the EPS at the time of withdrawing my PF?

Case 3: In a third case, where I fulfill none of the conditions, there is something called 'Table D' according to which I get the Pension amount based on the number of yrs of service. If this is true, the first 2 conditiond are for the withdrawal of full amount only. Fraction of the amount can be withdarwn anytime depending on my yrs of service, right?

I hope I have been able to explain my querry. Waiting for seniors help.

Thanks

Peonka

My Solutions :
Case I : You have to wait till attaining 58 years of age to get your pension.
Case II : No, you will not get pension as you have not contribute for 10 years in EPS.
Case III : Yes, Table "D" Factor is true.

Dear Peonka,
Minimum service to get pension is 10 years' service, otherwise they will get withdrawal benefit as per table D.
But the minimum age to get pension is 50, not 58. But to get pension between 50 to 58 years there are certain conditions.
1. He should not be in service.
2. For each year below 58 years, there will be a reduction of 4% on pensionable amount.
If somebody unable to complete 10 years of service, pension is not eligible as shown above.
Abbas.P.S

Dear Sir, In my opinion, one is eligible for pension under EPS only after completion of 10 years contributory service but can avail it only after he attains 58 years of age, however, he can get reduced pension if he has completed 50 years age as stated above by Sh. Abbasiti
In case ,one has not completed 10 years service ,he will get his EPS contribution, in case he is not employed.
In case , one has completed 10 years service but is below 50 years of age, he will get Scheme Certificate having details of his service, which can be given to new employer as and when one joins new estt. so as to claim benefits of his earlier service along with new period of service or to claim pension after 50 years of age .
A K CHANDOK
RPFC ( Retd.)
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