Confused About EPS Withdrawal Rules? Seeking Clarity on Retirement and Service Years

Dear Seniors, I have a question regarding EPS withdrawal. Recently, I got to know that EPS cannot be withdrawn before retirement age. Is it true?

Understanding EPS Withdrawal

During our career, we change many companies and complete two forms: EPC Form 19 and EPS Form 10C for withdrawals after leaving the company. I got to know that only the PF withdrawal form is processed and not the pension form, as we have not reached retirement age. I think this is not true.

Clarification on EPS Withdrawal Conditions

Whereas, on the internet, I found out that EPS can be withdrawn if one has less than 10 years of service with any company. If one completes 10 or more years, EPS cannot be withdrawn.

I am a little confused. Please clarify what is correct.

You are eligible to withdraw your pension only when you leave your services after completing 6 months but before completing 10 years of pensionable service. Once you complete 10 years of pensionable service, you are not entitled to withdraw your pension. In this case, you are entitled to receive a monthly pension upon reaching the age of 50 at a reduced rate or at 58 at the full pension rate.

After completing 10 years of pensionable service, if you leave and withdraw the PF accumulation, you need to apply for a scheme certificate under the Pension scheme.

Regards

Mr. KKA is right. A person who worked for 6 months or more is eligible to withdraw the amount by filling out Form 10C. As per my suggestion, now you can withdraw your pension and PF amount online.

Thanks/Regards

Employees can withdraw their EPF through Form 19 and EPS through Form 10C. In Form 10C, you will find an option to opt for a pension (yes or no). If you opt for "No," the total amount will be paid by the PF authority. In case you opt for a pension by saying "Yes," a laminated certificate will be sent by them, which can be utilized after reaching beyond 50 years or 58 years, and a suitable pension will be released from time to time.

Those who could not work more than 6 months can only claim employee contributions, i.e., EPF Account. Instead, they can go for the transfer of funds to a new account, where 100% can be transferred, and the contributions are safe.

Dear members, please clarify whether this is correct or not. Hope the above is clear now.

Regards,
S Rao
[Phone Number Removed For Privacy Reasons]
Hyderabad

Hello,

I need your guidance. I worked for 9 years and 11 months in an IT company. I quit in 2011 and migrated overseas. Recently, I was able to withdraw my PF amount using the UAN-based Form 19. However, my UAN-based Form 10c was rejected by the PF office without ascribing any reason. I no longer reside in India nor am I working with an Indian company. Can you please guide me on how I can withdraw my EPS amount?

Thanks for your help.

Regards,
Prasanna Rao