In my PF sheet, I had a column "Diverted to Pension fund" - What does it mean?
After some Googling, I found it's a pension after 58 years.
Question: Can we get this amount before the age of 58?
PR Structure:
- Employee Share: Rs. 749
- Employer Share: Rs. 229
- Diverted to Pension fund: Rs. 520
From India, Gurgaon
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After some Googling, I found it's a pension after 58 years.
Question: Can we get this amount before the age of 58?
PR Structure:
- Employee Share: Rs. 749
- Employer Share: Rs. 229
- Diverted to Pension fund: Rs. 520
From India, Gurgaon
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It is the amount towards contribution for pension. If you have 10 years or more of service in EPS, you are eligible to get a pension. Otherwise, you will receive a one-time withdrawal benefit. Normally, a pension is eligible after the completion of 58 years of age. However, if you are not in service, you may get a pension after the completion of 50 years of age, provided you will lose 4% of the pensionable amount for each year below the age of 58 years.
Regards,
Abbas. P. S
From India, Bangalore
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530Regards,
Abbas. P. S
From India, Bangalore
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PF Pension fund contribution beyond 58 years of age.pdf
Employee Benefits.doc