Currently Employee aged 62 years contributing to EPF, he wants to get pension from PF authorities and also keep contributing to EPF , Please discuss the rule postion and rules on this.
Currently, an employee aged 62 years is contributing to EPF. He wants to receive a pension from PF authorities while also continuing to contribute to EPF. Please discuss the rules surrounding this situation.
At present, under the Employees' Pension Scheme (EPS-95), EPFO subscribers cease to be members of the pension scheme and can apply for fixation of their pension after the age of 58 years. Thus, they cannot contribute to the scheme after the age of 58 years. Please refer to the attached notification.
There is no cut-off age for PF. An employee will remain a PF member if he or she does not withdraw from the PF account, and will receive a pension as per the rules after reaching the age of 58 years.
You have not mentioned whether your employee is still contributing to EPS, whether the employee is eligible for EPS, and if the employee has contributed to EPS for a minimum of 10 years until reaching 58 years of age. You need to provide all relevant details to receive a correct reply.
Please peruse the attachment you have uploaded regarding EPS. Even after attaining 58 years, EPS members can contribute to EPS for another 2 years provided they have contributed to EPS for at least 10 years at the time of attaining 58 years.
Your statement "Thus, they cannot contribute to the scheme after the age of 58 years." is not correct.
Can I continue an employee in payroll without paying PF and Gratuity who is above 60 years?
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