I am working in a spinning Mills in Tamilnadu. My mill suspended production on 30.09.15 and treating the days of suspense as No work-No pay basis. Now they have applied to Govt for permanent closure on Non viability condition. Both Management and Trade union came to an agreement for closure after settling all legal dues to all.
Now my question is, "Will i loose my pension from EPF" due to non contribution for continues 12 months. Pl enlight me on this matter with pension calculation method.
Thanks
Veerapppan
From India, Chennai
Now my question is, "Will i loose my pension from EPF" due to non contribution for continues 12 months. Pl enlight me on this matter with pension calculation method.
Thanks
Veerapppan
From India, Chennai
if your service period is 10+ years of contribution, then you are eligible, non contribution period would get heard on the BIFR board, and in most cases the employer choose to pay partial or full contribution, as per settlement with the trade union and BIFR discussion and directions
EPFO get dormant after 36 months non contribution, do not worry much right now
632EPFO get dormant after 36 months non contribution, do not worry much right now
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EPS - Form No. 10-D Pension Claim Form Aadhaar.pdf
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Pension.doc