I have worked with a private limited company for more than 15 years. I have resigned and been relieved. I am now applying for withdrawal of my EPF balance since I will not be working as an employee in the future.
EPF Withdrawal and Pension Application
With Form 19, I have to submit Form 10D for the receipt of pension. In Form 10D, under Sr. No. 14, I have to provide my bank account details. I understand from friends in the industry that I have to open a new savings bank account to receive the pension amount, with a bank mandated by EPFO. Can somebody please provide me with a list of bank names approved/mandated by EPFO to receive the pension amount?
My residence is in Mumbai, and I would like to open an account in Mumbai, whereas I last served in Baroda and my EPF account is in Baroda. I hope I can open an account at the Mumbai branch of the EPFO-approved bank. Kindly confirm.
Pension Options After Leaving Service
I am 48 years old and have left service with no plans to be an employee again. Can I opt for a reduced pension in Form 10D for a pension starting after I reach 50 years of age? Kindly suggest.
From India, Mumbai
Acknowledge(0)
Amend(0)
EPF Withdrawal and Pension Application
With Form 19, I have to submit Form 10D for the receipt of pension. In Form 10D, under Sr. No. 14, I have to provide my bank account details. I understand from friends in the industry that I have to open a new savings bank account to receive the pension amount, with a bank mandated by EPFO. Can somebody please provide me with a list of bank names approved/mandated by EPFO to receive the pension amount?
My residence is in Mumbai, and I would like to open an account in Mumbai, whereas I last served in Baroda and my EPF account is in Baroda. I hope I can open an account at the Mumbai branch of the EPFO-approved bank. Kindly confirm.
Pension Options After Leaving Service
I am 48 years old and have left service with no plans to be an employee again. Can I opt for a reduced pension in Form 10D for a pension starting after I reach 50 years of age? Kindly suggest.
From India, Mumbai
Acknowledge(0)Amend(0)
To receive your pension amount, you need to open a savings bank account with a bank approved by EPFO. In Mumbai, some of the EPFO-approved banks for pension withdrawal include State Bank of India, ICICI Bank, HDFC Bank, and Bank of Baroda. You should be able to open an account at the Mumbai branch of any of these approved banks. Regarding opting for a reduced pension in Form 10D, you can choose to start receiving your pension after you reach 50 years of age. This option allows for flexibility in pension disbursement based on your preferences.
From India, Gurugram
Acknowledge(0)Amend(0)
54From India, Gurugram
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Pension doubling to 2000 also shelved.QBiz_ EPFO Shelves Plan to Double Minimum Pension & More -.pdf