Hello to all hope u r doing well we all know that in PF 3.67% contributed by the employer & 8.33% go in pension scheme. So my question is when we can claim or get that that 8.33% please explain Annu
From India, Delhi
6From India, Delhi
Hi Annu, The 8.33% that goes in pension scheme can only be claimed upon retirement, that is upon attaining the age of 58 years. Regards, Gaurang
From India, Ahmadabad
From India, Ahmadabad
After some years, we can claim some part of money from the PF account for our personnel reasons like children marriage , children education, etc. ; .
For that we need to give one application to the concerned person at your office.
I think it is better to consult concerned HR in your office.
I didn't remember the exact number of years to claim this.
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Thanks & Regards,
Vani
From India, Secunderabad
For that we need to give one application to the concerned person at your office.
I think it is better to consult concerned HR in your office.
I didn't remember the exact number of years to claim this.
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Thanks & Regards,
Vani
From India, Secunderabad
Hi Vani,
You are right about being able to claim part of money from PF account. We can get up to 50% of the amount deposited in PF as a loan after 6 years of continuous PF deposit.
However, Annu's question is about the Pension fund which is linked to Provident Fund. Pension fund can only be claimed and withdrawn after you have completed 58 years of age.
Regards,
Gaurang
From India, Ahmadabad
You are right about being able to claim part of money from PF account. We can get up to 50% of the amount deposited in PF as a loan after 6 years of continuous PF deposit.
However, Annu's question is about the Pension fund which is linked to Provident Fund. Pension fund can only be claimed and withdrawn after you have completed 58 years of age.
Regards,
Gaurang
From India, Ahmadabad
Dear friends,
the query is in respect of pension fund, here i wish to explain that if some one leaving his employment prior to complete required service of 10 years to the PF OR AND EPS, after the span of 60 days being unemployed he can positively withdraw the 100% amount from his account of pf/eps.
In the case someone has completed 10 years service by contributing PF/EPS then he will liable for pension scheme and get it after attaining age of superannuation for 100% pension or after 50 for reduce pension. so, those who has not completed 10 yrs of contributive services to EPF/EPS can withdraw their PF/EPS amounts.
Regards,
KIRAN KALE
From India, Kolhapur
the query is in respect of pension fund, here i wish to explain that if some one leaving his employment prior to complete required service of 10 years to the PF OR AND EPS, after the span of 60 days being unemployed he can positively withdraw the 100% amount from his account of pf/eps.
In the case someone has completed 10 years service by contributing PF/EPS then he will liable for pension scheme and get it after attaining age of superannuation for 100% pension or after 50 for reduce pension. so, those who has not completed 10 yrs of contributive services to EPF/EPS can withdraw their PF/EPS amounts.
Regards,
KIRAN KALE
From India, Kolhapur
In the current Indian IT Industry environment, we generally keep on hopping from one organization to the other, and get our PF transferred to the new employer after some 3 months but during that, do we get the EPS part transferred as well??
From India, Jaipur
From India, Jaipur
Contribution made under Pension Scheme can be received after after retirement or attaining age of 58yrs or served for atleast 20yrs or on permanent disablement or on death to nominee/legal heir.
From India, Tiruchchirappalli
From India, Tiruchchirappalli
Dear Annu,
First of all see that EPF and pension fund are different. If you have not rendered a service of 10 years, then you are not eligible for pension. Either you can apply for withdrawal benefit or scheme certificate. For both form 10-C is used. But note that this withdrawal is not from EPF. For calculating this, the formula is multiplying factor in Tble D in compliance with service x Salary last drawn.
If you have rendered 10 years or more ( 9 yrs & 6 months will be rounded up to 10 yrs), you are eligible for pension after an age of 50 yrs. But to avail pension in between the age of 50 - below 58 yrs, it is conditional.
1. You should not be in EPF applicable service.
2. 4% reduction will be there for each year below the age of 58.
After completion of service if there is gap bfore drawing pension, it is advisable to apply for scheme certificate.
Superannuation pension is applicable on completion of 58 yrs. In such cases, no conditions as above will be there.
Abbas.P.S, ITI Ltd, PALAKKAD - 678 623
From India, Bangalore
First of all see that EPF and pension fund are different. If you have not rendered a service of 10 years, then you are not eligible for pension. Either you can apply for withdrawal benefit or scheme certificate. For both form 10-C is used. But note that this withdrawal is not from EPF. For calculating this, the formula is multiplying factor in Tble D in compliance with service x Salary last drawn.
If you have rendered 10 years or more ( 9 yrs & 6 months will be rounded up to 10 yrs), you are eligible for pension after an age of 50 yrs. But to avail pension in between the age of 50 - below 58 yrs, it is conditional.
1. You should not be in EPF applicable service.
2. 4% reduction will be there for each year below the age of 58.
After completion of service if there is gap bfore drawing pension, it is advisable to apply for scheme certificate.
Superannuation pension is applicable on completion of 58 yrs. In such cases, no conditions as above will be there.
Abbas.P.S, ITI Ltd, PALAKKAD - 678 623
From India, Bangalore
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