Employee Still Working at 58: Should We Continue EPF Contributions or Stop?

When an employee reaches 58 years of age but still continues to work in the organization, should we stop his EPF contributions, or should we continue them? What do the rules say?

Kindly note that if an employee serves for more than 58 years, pension contributions are not required as per the EPF Miscellaneous Act and MP Act 1952. Only the employee's contribution is deducted from their wages.

Regards,
Anand

Dear Anand,

Both employee and employer contributions are to be remitted to the PF account (including pension contribution). Upon attaining the age of 58 years (in compliance with the date of birth), the pension contribution has to be diverted to the PF. At this stage, the employee will be eligible for pension along with salary till the end of service.

Abbas.P.S

Hi Abbas,

Please share any notifications for pension contributions eligible above 58 years.

Dear Anand,

I don't know of any provisions to contribute to EPS-95 after attaining the age of 58 years.

Abbas P.S.

Employees can contribute to EPS for another 2 years after attaining 58 years. The member should have completed 10 years of membership at the time of attaining 58 years. The member has to give written consent to the Pension Department. Consequently, the pension will increase by 8.16% due to the additional 2 years of contribution.