Understanding EPS Scheme Certificate, PF Transfer, and Form 10-C Process

Dear Friends,

I was working with a private sector bank for around 5 years, which has its own PF Trust. I have moved out of that bank and was unemployed for almost 1 month. Due to this, I applied for PF withdrawal and received the PF amount from my previous employer. After 1 month, I joined another private bank, which also has its own PF trust.

I would like to understand whether I can apply for an EPS Scheme Certificate even though my previous employer has their own PF trust. Please also provide information on the procedure to claim the same with the private PF trust and how to ensure that it is being considered with my new employer.

When I searched online for information, I found Form 10-C which I have attached. Kindly guide me.

Regards,
Sachin

Dear Sachin ji,

You need to submit Form 10C to RPFC through your past employer for the scheme certificate. You can do it now if it has not been done earlier. The scheme certificate, upon receiving it, needs to be submitted through your present employer to your RPFC, who is maintaining your current pension account.

I have an apprehension since you settled your PF account of earlier employment wrongfully by providing false information. You mentioned that you joined the next employment after one month. If you joined your next employment within 2 months' time, then you were not entitled to settle your PF account but to transfer it to the new employment account. If this is the case and is noticed by your employer or RPFC, you may face consequences.

I recently heard that EPFO asked some members to deposit the amount received wrongfully, as you did, along with interest.

Please ensure prompt action to rectify the situation.

Thank you.

Thank you, Mr. Keshav, for providing me with details regarding Form 10-C.

Suppose I had opted for EPF transfer from my previous employer to my current employer, what would need to be done in that case? Do we still need to obtain a certificate from my previous employer to be submitted to the current employer, or does it automatically fall under Form 13 consideration?

Regards,
Sachin.

Dear Sachin ji,

When one applies for the transfer of their PF account by submitting Form 13, both the EPF and Pension accounts transfer to the transferee account. There is no scheme certificate required.

When one settles their EPF account, they have the option to either settle their Pension account or obtain a scheme certificate. The settlement of the Pension account can be done in the following ways:

1. Taking withdrawal benefit if the pensionable service is less than 10 years.
2. Taking a monthly pension if the pensionable service is more than 10 years and the individual completes 50 years of age.

Once a member opts for a monthly pension, they cannot become a member of the pension scheme again in their next employment. In such a case, both their shares go to the EPF account only.

I hope your query is answered.