Navigating Employee Pension Scheme: Should I Transfer or Withdraw My EPS?

Hello,

I have completed 1.5 years in an organization. Our organization has an employee pension scheme (EPS) as part of our CTC, in which ~8.33% of the employer's share of PF is deposited in EPS.

1. What is better - transfer EPS or withdraw EPS?

2. What is the procedure for the transfer or withdrawal of EPS?

Regards, Sakshi

Hello Sakshi,

I wanted to inquire if you have left and joined a new organization. In that case, you will need to fill out Form 13R for the transfer of your PF amount, both PF & EPS. Nowadays, this process can be done online. For more details, you can visit the EPFO site.

Moreover, the best option is to transfer your PF to the current employer's PF account instead of opting for withdrawal.

Dear Sakshi,

If your wage is covered under PF & EPS after joining a new company, it is always advisable to transfer your PF & EPS instead of withdrawing them. If it is necessary, you can withdraw your PF but not your pension since it might be useful for your post-retirement life.

Regards, Rajadurai Kalaichelvan