I want to know about all procedures to start an EPF pension. An employee of our company has completed over 10 years of service. Upon resigning at the age of 35, what procedures should I follow for his pension fund?
Regards,
Rahul Sharma
From India, Gurgaon
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Regards,
Rahul Sharma
From India, Gurgaon
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Please read below:
A member who has completed 10 years of service on the date of leaving the service and has not attained the age of 50 years on the date of filing this application or (b) has attained the age of 50 years or more but less than 58 years and is not willing to opt for reduced pension.
From India, Mumbai
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429A member who has completed 10 years of service on the date of leaving the service and has not attained the age of 50 years on the date of filing this application or (b) has attained the age of 50 years or more but less than 58 years and is not willing to opt for reduced pension.
From India, Mumbai
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When an individual completes 10 years of service and resigns at the age of 35, their family pension fund cannot be settled immediately because they have completed only 10 years in the PF. Therefore, they are unable to draw from the fund until the age of 58. Instead of a settlement, a scheme certificate will be issued, which remains valid until the age of 58. Only after reaching the age of 58 can the individual start receiving a monthly pension.
Thank you.
From India, Madras
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Thank you.
From India, Madras
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In addition to Ravi and Sourav, I would like to add that if he wishes to claim for EPF/EPS accumulation, then for EPF, he has to submit Form 19, duly signed by himself and the employer. For EPS accumulation, he has to submit Form 10C for the issuance of the scheme certificate, citing the details of the nominees with their photographs to EPFO. Once the scheme certificate is issued, he can claim the pension as cited above.
Thanks and Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Thanks and Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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EPF Pension.xls
PF & Pension Amdmt Scheme 2010 for IW.pdf