If A employees register in PF at the age of 53 is the employees entitled for pension scheme?
From India, Delhi
From India, Delhi
Hi
A minimum of contineous service of 10 years applicable to get eligible for Pension.
According to EPFO guidelines, an employee shall cease to be the member of Pension Fund from the date of attaining 58 years of age or from the date of vesting admissible benefits under the scheme, whichever is earlier.
Hence Pension eligibility will not be applicable for the above employee.
From India, Madras
919A minimum of contineous service of 10 years applicable to get eligible for Pension.
According to EPFO guidelines, an employee shall cease to be the member of Pension Fund from the date of attaining 58 years of age or from the date of vesting admissible benefits under the scheme, whichever is earlier.
Hence Pension eligibility will not be applicable for the above employee.
From India, Madras
Hello Sir, thanks for your message, also can you confirm in continue services! Is employees can withdrawal their pension share amount. after completing the age of 58, also please if pension not applicable why we need to contribute in pension fund till the age of 58.
From India, Delhi
From India, Delhi
Hi,
For less than 10 year cases pension contribution can be withdrawn at the time of exit from PF.
Employee joined at the age of 53. Prior to that if the employee us not covered under PF and if his PF wages is above 15000/- at the time of joining then no need to contribute to Pension (not eligible ) and 8.33% will also go to PF contribution only.
Hope the above is clear.
From India, Madras
For less than 10 year cases pension contribution can be withdrawn at the time of exit from PF.
Employee joined at the age of 53. Prior to that if the employee us not covered under PF and if his PF wages is above 15000/- at the time of joining then no need to contribute to Pension (not eligible ) and 8.33% will also go to PF contribution only.
Hope the above is clear.
From India, Madras
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
PF for foreign employees 1.10.08.pdf