Dear Sir,
I would like to inquire about the pension eligibility for an individual whose pension contribution has been discontinued since February 2021. The details of the employee are as follows:
Employee Name: Mr. A
Date of Birth (DOB): 01-10-1963
Date of Joining (DOJ): 01-02-2015
Date of Completion of 58 Years: 31-01-2021
Total Service Duration: 10 Years and 8 Months
Current Contribution Submitted: Provident Fund (PF) only
Could you kindly confirm if this individual is still eligible for a monthly pension?
Thank you for your guidance.
From India, Mohali
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4I would like to inquire about the pension eligibility for an individual whose pension contribution has been discontinued since February 2021. The details of the employee are as follows:
Employee Name: Mr. A
Date of Birth (DOB): 01-10-1963
Date of Joining (DOJ): 01-02-2015
Date of Completion of 58 Years: 31-01-2021
Total Service Duration: 10 Years and 8 Months
Current Contribution Submitted: Provident Fund (PF) only
Could you kindly confirm if this individual is still eligible for a monthly pension?
Thank you for your guidance.
From India, Mohali
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The pension eligibility in India is typically determined by the Employees' Pension Scheme (EPS), which is linked to the Employee Provident Fund (EPF). As per the EPS, an employee is eligible for a pension after completing 10 years of service and reaching the age of 58.
In the case of Mr. A, he has completed more than 10 years of service and has reached the age of 58. However, his pension contributions were discontinued in February 2021.
The discontinuation of contributions does not necessarily mean that he is ineligible for a pension. The pension is calculated based on the number of years of service and the average salary during the last 60 months of service. If Mr. A has not withdrawn his EPF balance after leaving the service, he should still be eligible for a pension.
However, the exact amount of pension can vary based on several factors, including the reason for discontinuation of contributions and the total amount accumulated in the EPS account.
I would recommend Mr. A to check his pension status by visiting the EPFO portal or contacting the local EPFO office in Mohali. He can also consult with a HR or financial advisor to understand the implications of discontinued contributions on his pension benefits.
Please note that this information is based on the current EPS rules and can change if the government amends the pension scheme. Always refer to the latest EPS guidelines or consult with a professional for accurate information.
From India, Gurugram
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In the case of Mr. A, he has completed more than 10 years of service and has reached the age of 58. However, his pension contributions were discontinued in February 2021.
The discontinuation of contributions does not necessarily mean that he is ineligible for a pension. The pension is calculated based on the number of years of service and the average salary during the last 60 months of service. If Mr. A has not withdrawn his EPF balance after leaving the service, he should still be eligible for a pension.
However, the exact amount of pension can vary based on several factors, including the reason for discontinuation of contributions and the total amount accumulated in the EPS account.
I would recommend Mr. A to check his pension status by visiting the EPFO portal or contacting the local EPFO office in Mohali. He can also consult with a HR or financial advisor to understand the implications of discontinued contributions on his pension benefits.
Please note that this information is based on the current EPS rules and can change if the government amends the pension scheme. Always refer to the latest EPS guidelines or consult with a professional for accurate information.
From India, Gurugram
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In order to know whether Mr A is entitled to get monthly pension we need one more information, ie, the salary at the time of his joining.
Since his total service is less than ten years, the question of pension payment will not arise also. See that he joined the establishment in 2015 and left the establishment in 2021, means he worked for 6 years only. Now, the question is was he employed prior to his joining this establishment? If yes, when did he join? Was he covered under Pension Scheme then?
In order to be eligible for pension one should have a minimum service of 10 years (at least 9 years and six months)
An employee who joined later than 31st August 2014, with a salary of more than Rs 15000 will not be entitled to be part of Pension Scheme.
From India, Kannur
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Since his total service is less than ten years, the question of pension payment will not arise also. See that he joined the establishment in 2015 and left the establishment in 2021, means he worked for 6 years only. Now, the question is was he employed prior to his joining this establishment? If yes, when did he join? Was he covered under Pension Scheme then?
In order to be eligible for pension one should have a minimum service of 10 years (at least 9 years and six months)
An employee who joined later than 31st August 2014, with a salary of more than Rs 15000 will not be entitled to be part of Pension Scheme.
From India, Kannur
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Dear Madhu T K,
Thank you for your valuable inputs.
Additionally, I would like to inform you that Mr. A has been working with us continuously, without any service breaks. His monthly gross salary was15000, while his EPF wages amounted to 12000.
From India, Mohali
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Thank you for your valuable inputs.
Additionally, I would like to inform you that Mr. A has been working with us continuously, without any service breaks. His monthly gross salary was15000, while his EPF wages amounted to 12000.
From India, Mohali
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(Fact Checked)-Your additional information is helpful. Continuity of service and EPF wages are indeed key factors in determining pension eligibility. (1 Acknowledge point)
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Provident Fund - Excluded Employee - Definition.pdf
What is Employee Provident Fund.docx
CiteHR.AI
(Fact Checked)-Your information is correct. For pension eligibility in India, a minimum service of 10 years is required. Salary at joining is also a factor. Well done! (1 Acknowledge point)