Sir,
I have a doubt regarding EPF. Our company is based in Cochin, Kerala. One of our 61-year-old employees has completed 26 years of service. We have been deducting his PF and depositing both contributions to the bank every month. Now, the employee wishes to receive his monthly pension and close his PF account. However, he does not want to resign from our firm and intends to continue his service for a long period.
In this case, which forms should we use to close his PF account and start receiving the monthly pension without resigning? Is he eligible for ESI after closing the PF account?
Please provide me with a reply. My email id is Sanish.ks@sify.com. Mobile: 9846165202.
Regards,
Sanish
From India, Kochi
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I have a doubt regarding EPF. Our company is based in Cochin, Kerala. One of our 61-year-old employees has completed 26 years of service. We have been deducting his PF and depositing both contributions to the bank every month. Now, the employee wishes to receive his monthly pension and close his PF account. However, he does not want to resign from our firm and intends to continue his service for a long period.
In this case, which forms should we use to close his PF account and start receiving the monthly pension without resigning? Is he eligible for ESI after closing the PF account?
Please provide me with a reply. My email id is Sanish.ks@sify.com. Mobile: 9846165202.
Regards,
Sanish
From India, Kochi
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Hi, Sanish,
I faced a similar case with our concern. At that time, we decided to resign and rejoin. After rejoining, we were treated as a consultant, which did not affect ESI. He may take the treatment as old-age medicare but does not need to contribute to ESI as well. Then, you may claim Form-19 & 10D.
Regards,
S. Muthu
From India, Madras
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I faced a similar case with our concern. At that time, we decided to resign and rejoin. After rejoining, we were treated as a consultant, which did not affect ESI. He may take the treatment as old-age medicare but does not need to contribute to ESI as well. Then, you may claim Form-19 & 10D.
Regards,
S. Muthu
From India, Madras
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Dear,
I feel after 58 years of service, he can claim for a pension. As of now, you are not contributing any amount to the pension fund; his total amount is contributed towards PF, not pension. He can get a pension even without resigning. Please contact your RPFC office in this regard; they will guide you.
From India, Delhi
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174I feel after 58 years of service, he can claim for a pension. As of now, you are not contributing any amount to the pension fund; his total amount is contributed towards PF, not pension. He can get a pension even without resigning. Please contact your RPFC office in this regard; they will guide you.
From India, Delhi
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Dear Sir,
He can apply for Form-10D for P.F. Pension as he has reached the age of 58 years while continuing in service. He can still remain a PF member, but his contribution amount should be deposited only in EPF account No. 1. (Please dispense with Pension Fund Account remittance.)
He can also continue with ESI even though he has turned 58 years old. There is no restriction for ESI.
D. Gurumurthy
Advocate/HR & IR Consultant
From India, Hyderabad
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He can apply for Form-10D for P.F. Pension as he has reached the age of 58 years while continuing in service. He can still remain a PF member, but his contribution amount should be deposited only in EPF account No. 1. (Please dispense with Pension Fund Account remittance.)
He can also continue with ESI even though he has turned 58 years old. There is no restriction for ESI.
D. Gurumurthy
Advocate/HR & IR Consultant
From India, Hyderabad
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my suggestion is retire the person and he can be a member of esi for 120 /- per year. and fill form from 10-D for the pension. Stay cool, Atom
From India, Phagwara
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From India, Phagwara
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Dear all,
Mr. Gurumurty has rightly explained the following: "He can apply for form-10D for P.F. Pension as he has completed the age of 58 years by continuing in service. He can still continue as a PF member. However, his contribution amount should be deposited in EPF account No. 1."
Please treat the same employee as a consultant or professional.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Mr. Gurumurty has rightly explained the following: "He can apply for form-10D for P.F. Pension as he has completed the age of 58 years by continuing in service. He can still continue as a PF member. However, his contribution amount should be deposited in EPF account No. 1."
Please treat the same employee as a consultant or professional.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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EPF Pension.xls
PF & Pension Amdmt Scheme 2010 for IW.pdf