Dear all,
1. I left my job during June 2004 and opted for the FPF scheme as I was eligible.
2. I withdrew my EPF amount and obtained a Pension certificate against FPF.
3. The Pension comes into effect upon attaining 58 years of age.
4. In the meantime, I was reemployed on June 16, 2005, after a one-year gap. I again became a PF member in the new company.
5. I have now left the new company after working for 4 years.
6. Can I add these 4 years of service to my FPF scheme? I have not yet withdrawn my money. As my basic salary at the new company is higher than at the old company, can I get a revised pension amount calculated so that my pension amount will be higher due to the increase in the period of service as well as the basic salary?
7. I sought clarification from some consultants but could not get a proper reply. You know how helpful our Government officers can be.
8. If anybody is aware of any provisions in the EPF Act for surrendering a pension and getting a new one, I believe there is a provision for this.
Regards,
Ravindra (Bangalore)
From India, Bangalore
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1. I left my job during June 2004 and opted for the FPF scheme as I was eligible.
2. I withdrew my EPF amount and obtained a Pension certificate against FPF.
3. The Pension comes into effect upon attaining 58 years of age.
4. In the meantime, I was reemployed on June 16, 2005, after a one-year gap. I again became a PF member in the new company.
5. I have now left the new company after working for 4 years.
6. Can I add these 4 years of service to my FPF scheme? I have not yet withdrawn my money. As my basic salary at the new company is higher than at the old company, can I get a revised pension amount calculated so that my pension amount will be higher due to the increase in the period of service as well as the basic salary?
7. I sought clarification from some consultants but could not get a proper reply. You know how helpful our Government officers can be.
8. If anybody is aware of any provisions in the EPF Act for surrendering a pension and getting a new one, I believe there is a provision for this.
Regards,
Ravindra (Bangalore)
From India, Bangalore
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Dear Ravindra, you have stated that you have availed of a pension after attaining the age of 58 years. After 58, there will not be any pension contribution. Even if you availed of the pension well before 58 and came under EPF later, there will not be any contribution to the pension further, even before 58. The full amount will go to the PF account. Accordingly, there is no room to review the pension once you have availed it, unless due to an error from PF authorities.
Regards,
Abbas.P.S, ITI LTD, PALAKKAD - 678 623.
Ph. [Phone Number Removed For Privacy Reasons]
From India, Bangalore
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530Regards,
Abbas.P.S, ITI LTD, PALAKKAD - 678 623.
Ph. [Phone Number Removed For Privacy Reasons]
From India, Bangalore
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EPF PENSION CALCULATION.zip
EPF Pension xls new calculation.xls