Dear seniors,
Good morning! If a new employee joins at the age of 52, the company deducts his Provident Fund (PF). However, when he turns 60, the company stops deducting his PF. How will his pension be paid in that case, considering his service is only eight years? Please explain this to me clearly. I would appreciate any knowledge you can share.
From India, Delhi
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10Good morning! If a new employee joins at the age of 52, the company deducts his Provident Fund (PF). However, when he turns 60, the company stops deducting his PF. How will his pension be paid in that case, considering his service is only eight years? Please explain this to me clearly. I would appreciate any knowledge you can share.
From India, Delhi
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The employee is not eligible for a pension. Both PF and pension amounts, as per the records of EPFO, will be settled in one go if the employee retires at the age of 60 years.
Regards, S K Bandyopadhyay (Howrah, WB) CEO - USD HR Solutions
From India, New Delhi
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Regards, S K Bandyopadhyay (Howrah, WB) CEO - USD HR Solutions
From India, New Delhi
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Hi, Pension will be applicable only after completing 10 years of service. Hence for 8 years service pension will not be applicable.
From India, Madras
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From India, Madras
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If a new employee joins whose age is 52 years, then the company deducts his PF. Your sentence should be:
1) Confirm his existing working history through EPF declaration to ascertain the continuous service of the member in EPFO.
However, when he turns age 60, the company stops deducting his PF. Your sentence should be:
2) The employer is not required to contribute to the pension when the member reaches 58 years, and those contributions will be paid in the employer's PF. The employer can continue to contribute to EPF even when the member is 58 years and above (no age restriction), but cannot contribute to EPS.
In that case, how will his pension be paid? Because his service is only eight years, your sentence should be:
4) After considering the continuous service as stated in S No 1, EPS is not eligible for a pension if the member has less than 10 years of service. However, he can withdraw his EPS amount if not employed.
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1) Confirm his existing working history through EPF declaration to ascertain the continuous service of the member in EPFO.
However, when he turns age 60, the company stops deducting his PF. Your sentence should be:
2) The employer is not required to contribute to the pension when the member reaches 58 years, and those contributions will be paid in the employer's PF. The employer can continue to contribute to EPF even when the member is 58 years and above (no age restriction), but cannot contribute to EPS.
In that case, how will his pension be paid? Because his service is only eight years, your sentence should be:
4) After considering the continuous service as stated in S No 1, EPS is not eligible for a pension if the member has less than 10 years of service. However, he can withdraw his EPS amount if not employed.
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PF Pension fund contribution beyond 58 years of age.pdf