I was employed with Ericsson as my first employer, and my basic salary was less than 15,000 at that time. I had left the organization for higher studies and had completely withdrawn my EPF and EPS amounts (with zero balance in both EPF and EPS accounts).
After completing my higher education, I am now employed with EY, where my basic salary is more than 15,000. I am unsure if I am still a member of the EPS scheme. Can you please provide me with a detailed explanation?
Thank you in advance for your help!
From India, Kolkata
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After completing my higher education, I am now employed with EY, where my basic salary is more than 15,000. I am unsure if I am still a member of the EPS scheme. Can you please provide me with a detailed explanation?
Thank you in advance for your help!
From India, Kolkata
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If the Universal Account Number (UAN) was generated at the time of your first employment, I doubt if your UAN is still active. If it is active, you will be covered by the Pension Fund as an existing member. At the same time, if you obtain a new UAN, you will be excluded from the Employee Pension Scheme (EPS).
I hope others will provide some input. Please leave comments on this practical scenario (not AI-generated comments!).
From India, Kannur
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4526I hope others will provide some input. Please leave comments on this practical scenario (not AI-generated comments!).
From India, Kannur
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Employee Pension Scheme Changes For UAN Holders.pdf
Employee Pension Scheme, 1995.doc