I have one doubt regarding EPF transfer. For example, one person working in a company gets enrolled in EPF. After 2 years, he leaves that company and joins another. The new company also enrolls him in EPF. Now, he wants to transfer the old company's PF and pension amount. However, the pension amount did not transfer into the new PF account. How can he claim the old account's pension fund? Please provide some valid suggestions and opinions.
From India, Chennai
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1From India, Chennai
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Hi Gopal, whenever any transfer claim is settled, only the PF amount is transferred from the old company to the new company. The pension amount is not transferred. However, the period of service (in this case, 2 years) is joined to his new PF account. Therefore, when the employee retires and decides to close his PF and pension account, the pension is calculated by considering the total number of years he has worked (i.e., the total number of years he has contributed to the pension account). I hope this answers your query.
From India, Pune
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From India, Pune
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To facilitate availing PF pension for total services put in, you need to obtain a Scheme certificate from EPFO for the duration of employment with your first employer and keep it with you. At the time of retirement, you can submit this Scheme certificate to PF authorities for the pension for total services.
From India, Aizawl
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From India, Aizawl
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