I am a 50-year-old guy, employed for the last 12 years (meaning I have been contributing to the Employee Pension Scheme for the past 12 years).
Please advise me on whether I can receive monthly pension benefits under the Employee Pension Scheme of 1995 if I apply for it, considering I am still employed. If yes, what would be the procedure?
Secondly, what will be the status of the monthly employer's contribution towards the Employee Pension Scheme?
From United States, New York
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Please advise me on whether I can receive monthly pension benefits under the Employee Pension Scheme of 1995 if I apply for it, considering I am still employed. If yes, what would be the procedure?
Secondly, what will be the status of the monthly employer's contribution towards the Employee Pension Scheme?
From United States, New York
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Dear Jain,
Those who have contributed 10 years of service are eligible for a pension, and the minimum age to receive the pension is 50 years. However, to avail of the pension before the age of 58, you must quit from EPF applicable service. After reaching the age of 58 years, you will receive the pension even if you continue in service.
Once you start receiving the pension at the age of 58 years or earlier, there will be no further contributions to EPS, and the full amount will be directed to EPF.
Abbas. P. S.
From India, Bangalore
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530Those who have contributed 10 years of service are eligible for a pension, and the minimum age to receive the pension is 50 years. However, to avail of the pension before the age of 58, you must quit from EPF applicable service. After reaching the age of 58 years, you will receive the pension even if you continue in service.
Once you start receiving the pension at the age of 58 years or earlier, there will be no further contributions to EPS, and the full amount will be directed to EPF.
Abbas. P. S.
From India, Bangalore
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Employee Pension Scheme, 1995.doc
Form10C.PDF for Employee Pension Scheme 1995.PDF