Dear Seniors,
One of our employees has completed 10 years of service and resigned from the organization. He is planning to withdraw the entire amount from his PF account. Please let me know if it is possible to withdraw the pension fund as well.
His present basic salary is ₹11,500 per month, and the pension fund has more than one lakh rupees.
What would be the pension per month after attaining 58 years?
Regards,
Suresh
From Singapore
One of our employees has completed 10 years of service and resigned from the organization. He is planning to withdraw the entire amount from his PF account. Please let me know if it is possible to withdraw the pension fund as well.
His present basic salary is ₹11,500 per month, and the pension fund has more than one lakh rupees.
What would be the pension per month after attaining 58 years?
Regards,
Suresh
From Singapore
Hi,
Please find the attached details for withdrawing the PF and Pension amount. The individual should fill out the following forms to withdraw the PF and Pension:
Withdrawers/Deceased:
- Form 10C (pension)
- Form 19 (PF)
Form 19 is used for withdrawing the PF amount. It requires information such as the employee's and parent/spouse's names, the name of the establishment, account number, reasons for leaving service, contribution for the current financial year, etc. Form 10 is used for pension withdrawal.
For Form 19, the employee should fill in all information, including bank account details, name, date of joining, with signature. The employer should provide details of the present year's contributions, date of resignation for the PF Fund, with a due date after 60 days of resignation.
In the case of Form 10C, the employee should complete all information like bank account details, name, date of joining, with signature. The employer should also provide details of the present year's contributions, date of resignation for the pension, with a due date after 60 days of resignation.
Please find the attached details for withdrawing the PF and Pension amount. The individual should fill out the following forms to withdraw the PF and Pension:
Withdrawers/Deceased:
- Form 10C (pension)
- Form 19 (PF)
Form 19 is used for withdrawing the PF amount. It requires information such as the employee's and parent/spouse's names, the name of the establishment, account number, reasons for leaving service, contribution for the current financial year, etc. Form 10 is used for pension withdrawal.
For Form 19, the employee should fill in all information, including bank account details, name, date of joining, with signature. The employer should provide details of the present year's contributions, date of resignation for the PF Fund, with a due date after 60 days of resignation.
In the case of Form 10C, the employee should complete all information like bank account details, name, date of joining, with signature. The employer should also provide details of the present year's contributions, date of resignation for the pension, with a due date after 60 days of resignation.
Dear Suresh,
After completion of 9 years and 6 months, withdrawal from the pension fund is not possible. Instead, he is eligible for monthly pension. For the calculation of the pensionable amount, the following details are required:
1. Date of Birth
2. Date of Joining
3. Date of Exit from EPS
4. Break in service, if any, before and after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of exit from EPS
Abbas.P.S
From India, Bangalore
After completion of 9 years and 6 months, withdrawal from the pension fund is not possible. Instead, he is eligible for monthly pension. For the calculation of the pensionable amount, the following details are required:
1. Date of Birth
2. Date of Joining
3. Date of Exit from EPS
4. Break in service, if any, before and after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of exit from EPS
Abbas.P.S
From India, Bangalore
What would be the pension amout if i work for 10 yrs, and my contribution is 541 pm. regards, Vishal
From India, Hyderabad
From India, Hyderabad
Dear Vishal,
As stated above, for pensionable amount calculation, the following details are required:
1. Date of Birth
2. Date of Join
3. Date of Exit from EPS
4. Break in service if any before and after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of exit from EPS
7. Date of pension required.
However, for 10 years of pensionable service, the pension at the age of 58 years will be Rs. 929.
Abbas.P.S
From India, Bangalore
As stated above, for pensionable amount calculation, the following details are required:
1. Date of Birth
2. Date of Join
3. Date of Exit from EPS
4. Break in service if any before and after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of exit from EPS
7. Date of pension required.
However, for 10 years of pensionable service, the pension at the age of 58 years will be Rs. 929.
Abbas.P.S
From India, Bangalore
Dear sir, I am completed my job 10 year . Sir please give me suggestion can i withdraw my pension fund because i have around 1.5 lac in my pension fund. please give me your opinion .
From India, Ahmedabad
From India, Ahmedabad
If you have already made contributions towards the pension fund for more than 9 years and 6 months, withdrawal from the pension fund is not possible. You have to submit the pension claim form (i.e., Form 10-D) under the Employees' Pension Scheme, 1995, with all other required documents to the EPFO authority through your existing employer.
Regards,
Rahul
From India, Sirohi
Regards,
Rahul
From India, Sirohi
One of our employees has completed 10 years of service but has not reached 58 years of age. As a result, he wishes to withdraw his pension amount instead of opting for the monthly pension scheme. Kindly suggest if this is possible. If so, what procedures should be followed to solve this problem?
Regards,
Hemant.KK
From India, Gurgaon
Regards,
Hemant.KK
From India, Gurgaon
Kindly go through the above postings. For those who have a service of 9 years and 6 months, withdrawal from the pension fund is not possible. If the member has not completed 58 years of age and is continuing in PF applicable service, he/she has to wait until the completion of 58 years for a pension. If the member is not in service, they can avail of a reduced pension after the completion of 50 years. However, for each year below 58, 4% will be reduced from the pensionable amount.
Regards,
Abbas.P.S
From India, Bangalore
Regards,
Abbas.P.S
From India, Bangalore
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