Hi, this is my first post on this portal
Out of the 12% contribution from the employer, 8.33% of the contribution (subject to a maximum of ₹541/month) is invested in the employer pension scheme.
When an employee withdraws his/her PF, will this amount (EPS) also get paid along with the PF payable? If not, I would like to understand how to withdraw this amount.
Regards,
Anjana
From India, Pune
Acknowledge(0)
Amend(0)
1Out of the 12% contribution from the employer, 8.33% of the contribution (subject to a maximum of ₹541/month) is invested in the employer pension scheme.
When an employee withdraws his/her PF, will this amount (EPS) also get paid along with the PF payable? If not, I would like to understand how to withdraw this amount.
Regards,
Anjana
From India, Pune
Acknowledge(0)Amend(0)
Dear Anjana Lazars, The Employee can withdraw the pension amount by claiming Form 10C to PF Office. Regards, Krishna Murthy
From India, Bengaluru
Acknowledge(1)Amend(0)
From India, Bengaluru
Acknowledge(1)Amend(0)
Pension Fund Withdrawal Conditions
The pension fund amount cannot be withdrawn if the employee has completed a service of 10 years (9 months and 6 months will constitute 10 years of service). Therefore, withdrawal is possible only if you have not attained the above-mentioned pensionable service. Also, it is not a full payback, but the withdrawal benefit is calculated according to a formula that depends on your service and the given factors as per Schedule D.
Regards,
Madhu.T.K
From India, Kannur
Acknowledge(1)
Amend(0)
The pension fund amount cannot be withdrawn if the employee has completed a service of 10 years (9 months and 6 months will constitute 10 years of service). Therefore, withdrawal is possible only if you have not attained the above-mentioned pensionable service. Also, it is not a full payback, but the withdrawal benefit is calculated according to a formula that depends on your service and the given factors as per Schedule D.
Regards,
Madhu.T.K
From India, Kannur
Acknowledge(1)Amend(0)
Dear Madhu.T.K, I agree with you. Can you tell me if, after 10 years of contribution, he/she may be eligible to get a scheme certificate? I am not sure about it. I have been confused about this for a long time. Appreciate your suggestions, please.
Regards,
Krishna Murthy
From India, Bengaluru
Acknowledge(0)Amend(0)
Regards,
Krishna Murthy
From India, Bengaluru
Acknowledge(0)Amend(0)
Scheme Certificate Eligibility and Requirements
A Scheme Certificate can be taken even if you do not have 10 years of service. It is an alternative to the withdrawal of the pension scheme, whereas it becomes mandatory in the cases of employees who have 10 or more years of service. Along with Form 10D, copies of the death certificate, legal heir certificates, and birth certificates of children are required to be attached.
Regards,
Madhu.T.K
From India, Kannur
Acknowledge(1)Amend(0)
A Scheme Certificate can be taken even if you do not have 10 years of service. It is an alternative to the withdrawal of the pension scheme, whereas it becomes mandatory in the cases of employees who have 10 or more years of service. Along with Form 10D, copies of the death certificate, legal heir certificates, and birth certificates of children are required to be attached.
Regards,
Madhu.T.K
From India, Kannur
Acknowledge(1)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PF & Pension Amdmt Scheme 2010 for IW.pdf
Employee Pension Scheme, 1995.doc