Can we start a PF fund for an employee who is 58 years old? He is also partially handicapped. Will he be able to withdraw the PF if he works till 60 years, i.e., 2 years? What if he continues on payroll even after he is 60 years of age? Is there any upper age limit for PF?
Regards,
Leena
From India, Noida
Acknowledge(0)
Amend(0)
Regards,
Leena
From India, Noida
Acknowledge(0)Amend(0)
Alternatively, you can continue PF deduction and contribute to the employee who is in service, i.e., 60 years. For continuance and contribution purposes, the upper age limit is not prescribed by the EPF Act. As long as the F & F settlement is made to the employee, the contribution can be continued. After all, PF is beneficiary legislation.
In response to your query, I believe you can start a PF fund for a 58-year-old employee, and he will be entitled to withdraw at 60 years when the F & F is made to him.
From India, Tiruchchirappalli
Acknowledge(0)Amend(0)
20In response to your query, I believe you can start a PF fund for a 58-year-old employee, and he will be entitled to withdraw at 60 years when the F & F is made to him.
From India, Tiruchchirappalli
Acknowledge(0)Amend(0)
Mr. Kumaresank has given lucid answer. I just want to add that After 58 years there would be no contribution in EPS scheme all contribution will be in PF Account only.
From India, Pune
Acknowledge(0)Amend(0)
From India, Pune
Acknowledge(0)Amend(0)
If the concerned employee has been a member of the PF Scheme in your organization, you should allow him to continue as a member of the PF Scheme. Upon his attaining the age of superannuation, you may settle his dues in full and final. If you wish to re-employ him further, you could engage him on a post-retirement contract basis. As a measure of abundant caution, keep his salary a little above Rs. 6500/- per month.
Best Wishes,
Vasant Nair
From India, Mumbai
Acknowledge(0)Amend(0)
Best Wishes,
Vasant Nair
From India, Mumbai
Acknowledge(0)Amend(0)
Provident Fund Contribution for Employees Over 58
This is for your information. The PF wage ceiling is ₹6,500 or less. If an employee crosses the age of 58 years and their salary is less than ₹6,500, the employer should contribute both the employee and employer contributions to the PF authority. The total contribution, Employee 12% and Employer 12% (total 24%), goes directly to the PF account only. Once the employee crosses the age of 58 years, he/she is not eligible for the Employee Pension Scheme (16-11-1995) as per the EPF (MP) Act-1952.
I hope this information is helpful to you.
Regards,
Jagdeep Rana
Executive HR
[Phone Number Removed For Privacy Reasons]
[Phone Number Removed For Privacy Reasons]
Email: [Email Removed For Privacy Reasons]
From India, Chandigarh
Acknowledge(0)Amend(0)
This is for your information. The PF wage ceiling is ₹6,500 or less. If an employee crosses the age of 58 years and their salary is less than ₹6,500, the employer should contribute both the employee and employer contributions to the PF authority. The total contribution, Employee 12% and Employer 12% (total 24%), goes directly to the PF account only. Once the employee crosses the age of 58 years, he/she is not eligible for the Employee Pension Scheme (16-11-1995) as per the EPF (MP) Act-1952.
I hope this information is helpful to you.
Regards,
Jagdeep Rana
Executive HR
[Phone Number Removed For Privacy Reasons]
[Phone Number Removed For Privacy Reasons]
Email: [Email Removed For Privacy Reasons]
From India, Chandigarh
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Employee referral scheme new.doc