Hi Madhu,
I worked in an organization for 2 years and 4 months. I am not currently employed. I am planning to apply for PF. In Form 10-C (EPS), they have asked, "Are you willing to get a scheme certificate in lieu of withdrawal benefits?" Should I choose yes or no?
Regards,
Shyamala
From India, Chennai
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I worked in an organization for 2 years and 4 months. I am not currently employed. I am planning to apply for PF. In Form 10-C (EPS), they have asked, "Are you willing to get a scheme certificate in lieu of withdrawal benefits?" Should I choose yes or no?
Regards,
Shyamala
From India, Chennai
Acknowledge(0)Amend(0)
Scheme Certificate Overview
A scheme certificate is issued by the EPFO under the Ministry of Labour. It certifies the service rendered by the employee, including details of the last drawn Pension Fund qualifying salary, the name of the spouse, and the names and dates of birth of children entitled to receive a pension in the event of the member's death.
If you opt for "yes," you will not receive a refund of the 8.33% paid by your employer towards the Pension Fund. Instead, you will receive the certificate mentioned above. This certificate can be surrendered to the PF when you secure another job, and your service of 2 years will be added to that service. Your pensionable salary and pension will depend on the total length of service, including the service carried forward.
On the other hand, by opting "no," you will receive a refund of the pension fund, but the service of 2 years will be lost.
If you wish to obtain a scheme certificate in lieu of a withdrawal benefit, you should attach copies of your children's birth certificates. As stated, in the event of the death of a member holding a scheme certificate, the spouse and children will receive a pension. The pension for children is available until they reach 25 years of age, which is why birth certificates must be attached along with the scheme certificate.
Regards, Madhu.T.K
From India, Kannur
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4526A scheme certificate is issued by the EPFO under the Ministry of Labour. It certifies the service rendered by the employee, including details of the last drawn Pension Fund qualifying salary, the name of the spouse, and the names and dates of birth of children entitled to receive a pension in the event of the member's death.
If you opt for "yes," you will not receive a refund of the 8.33% paid by your employer towards the Pension Fund. Instead, you will receive the certificate mentioned above. This certificate can be surrendered to the PF when you secure another job, and your service of 2 years will be added to that service. Your pensionable salary and pension will depend on the total length of service, including the service carried forward.
On the other hand, by opting "no," you will receive a refund of the pension fund, but the service of 2 years will be lost.
If you wish to obtain a scheme certificate in lieu of a withdrawal benefit, you should attach copies of your children's birth certificates. As stated, in the event of the death of a member holding a scheme certificate, the spouse and children will receive a pension. The pension for children is available until they reach 25 years of age, which is why birth certificates must be attached along with the scheme certificate.
Regards, Madhu.T.K
From India, Kannur
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