A superannuated employee (i.e., after 60 years) joined as a contract worker. He contributed to PF, and the account is maintained for two years. The contractor's share is contributed and reimbursed by the Principal Employer (Govt of India). What are the benefits the employee gets on the conclusion of the job? Anybody, please guide.
Regards, K. Sambasiviah, CITU, Sullurupeta, Tirupati Dt. A.P. [Phone Number Removed For Privacy-Reasons]
From India, Nellore
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27Regards, K. Sambasiviah, CITU, Sullurupeta, Tirupati Dt. A.P. [Phone Number Removed For Privacy-Reasons]
From India, Nellore
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Hi, Upon separation, the employee can claim the entire PF amount along with the accrued interest. Pension contributions are not applicable in this scenario.
Benefits in the event of the member's demise
Another benefit arises in the event of the unfortunate demise of the member before separation. In such a case, the registered nominee will receive the EDLI benefit, including the total PF accumulation and interest.
From India, Madras
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Benefits in the event of the member's demise
Another benefit arises in the event of the unfortunate demise of the member before separation. In such a case, the registered nominee will receive the EDLI benefit, including the total PF accumulation and interest.
From India, Madras
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PF Membership and Withdrawal Benefits
Did he join the company after government service, or was he a member of PF earlier? In the latter case, he should have earlier membership, and then the service after superannuation under third-party rolls should be a continuation of his previous service. Then his withdrawal benefit should contain his previous accumulation unless it was withdrawn sometime before joining the company after superannuation.
PF Accumulations for New Members
In the former case, he would get PF accumulations, which will contain his contributions for two years and the employer's share at a 12% rate (full amount since no amount should have been diverted to the Pension Fund as the employee has become a member of EPF after 58 years of age) in full with interest for two years.
From India, Kannur
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Did he join the company after government service, or was he a member of PF earlier? In the latter case, he should have earlier membership, and then the service after superannuation under third-party rolls should be a continuation of his previous service. Then his withdrawal benefit should contain his previous accumulation unless it was withdrawn sometime before joining the company after superannuation.
PF Accumulations for New Members
In the former case, he would get PF accumulations, which will contain his contributions for two years and the employer's share at a 12% rate (full amount since no amount should have been diverted to the Pension Fund as the employee has become a member of EPF after 58 years of age) in full with interest for two years.
From India, Kannur
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