Dear all,
I am finding the following problems with the pension scheme. When is a person eligible for getting a pension? What is a scheme certificate? For a withdrawal procedure, we submit form no. 19 & 10(C) at the PF office, but we are not getting our pension if we have not completed ten years of service or reached the required age.
So, my confusion is, if we withdraw our money (only PF fund 15.67%) from the PF office, then our PF account will be closed automatically. So, what will happen to our pension amount (8.33%)? Because after that, in a new organization, they will allocate a new PF/Pension account number.
Kindly help me out in this regard.
Thank you,
From India, Surat
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1I am finding the following problems with the pension scheme. When is a person eligible for getting a pension? What is a scheme certificate? For a withdrawal procedure, we submit form no. 19 & 10(C) at the PF office, but we are not getting our pension if we have not completed ten years of service or reached the required age.
So, my confusion is, if we withdraw our money (only PF fund 15.67%) from the PF office, then our PF account will be closed automatically. So, what will happen to our pension amount (8.33%)? Because after that, in a new organization, they will allocate a new PF/Pension account number.
Kindly help me out in this regard.
Thank you,
From India, Surat
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If you have put in at least ten years of pensionable service, you will be eligible for a pension upon attaining the age of 58 years (or after 50 for reduced pension).
When leaving an organization without reaching the pension age, you can obtain a scheme certificate issued by the Ministry of Labour. This certificate certifies your service and identifies persons eligible to receive a pension in case something happens to the holder before surrendering it or becoming eligible for the pension.
If you have not completed 10 years of service, you have the option to withdraw both the EPF amount (using form 19) and the Pension Fund contribution (using form 10 C).
If you wish to retain the pension fund and maintain your 9 years (or fewer) of service, you can choose to receive a Scheme Certificate. Form 10 C includes a question: "Are you willing to accept a Scheme Certificate in lieu of withdrawal benefit?" Opting for the Scheme Certificate means forgoing the pension fund in exchange for the certificate. When you join another organization where the PF is applicable, you can submit this certificate to the EPFO through the new employer. This action will combine your previous service with the new one, thereby increasing your eligibility and pensionable service.
Regards,
Madhu.T.K
From India, Kannur
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When leaving an organization without reaching the pension age, you can obtain a scheme certificate issued by the Ministry of Labour. This certificate certifies your service and identifies persons eligible to receive a pension in case something happens to the holder before surrendering it or becoming eligible for the pension.
If you have not completed 10 years of service, you have the option to withdraw both the EPF amount (using form 19) and the Pension Fund contribution (using form 10 C).
If you wish to retain the pension fund and maintain your 9 years (or fewer) of service, you can choose to receive a Scheme Certificate. Form 10 C includes a question: "Are you willing to accept a Scheme Certificate in lieu of withdrawal benefit?" Opting for the Scheme Certificate means forgoing the pension fund in exchange for the certificate. When you join another organization where the PF is applicable, you can submit this certificate to the EPFO through the new employer. This action will combine your previous service with the new one, thereby increasing your eligibility and pensionable service.
Regards,
Madhu.T.K
From India, Kannur
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I worked for 11 years. Now, I want to close my pension fund and withdraw the amount. I am 36 years old and currently unemployed. Please assist me with the procedure for the same. I have closed my PF account using form 19 and received the amount. However, my form 10C has been rejected, and they have not provided a reason for the rejection. Kindly help me with closing the pension fund and withdrawing the money as I require it for medical/personal reasons.
Thank you
From India, Hyderabad
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Thank you
From India, Hyderabad
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Your query has been addressed in the link provided below: https://www.citehr.com/459276-need-help.html
From India, Mumbai
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From India, Mumbai
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I have worked in a company for 16 years and received the Pension Scheme Certificate. I did not surrender it to my new employer (2nd employer), where I worked for one year. Now, I am going to rejoin my first employer. How should I proceed regarding the Provident Fund (PF) as well as the pension receivable from the second employer? What should I do with the Pension Scheme Certificate I received from my first employer earlier?
Please suggest...
Regards,
From India, Mumbai
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Please suggest...
Regards,
From India, Mumbai
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PF & Pension Amdmt Scheme 2010 for IW.pdf