Dear All,
Can any one provide me details about PF Pension Scheme?
As per my basic knowledge the eligibility for PF Pension scheme is 10 years of service.But if one who worked more than 10 year,but not in same company.He transfered his his PF a/c to new a/c.Now is he eligible for pension?
Thanks,
Rajesh.B
From India, Bangalore
1Can any one provide me details about PF Pension Scheme?
As per my basic knowledge the eligibility for PF Pension scheme is 10 years of service.But if one who worked more than 10 year,but not in same company.He transfered his his PF a/c to new a/c.Now is he eligible for pension?
Thanks,
Rajesh.B
From India, Bangalore
Dear All
In pension scheme the EPS contribution of 6 months and above is rounded off to next higher year and contributions below 6 months is not considered. Hence a person who contributed 9 years and 6 months continuously in an organisation is given a scheme certificate for pension, as if he has worked for 10 years. The scheme certificate holder is eligible for pension after 58 years or can claim pension at reduced rates after completion of 50 years age. Even in the case of transfer of EPS, it is better to insist on having the original scheme certificate from the PF office, since it contains details of non-contribution days of the employment. The non-contribution days are used for reckoning the pension amount at 50 to 58 years and hence if the details are not available at time of claiming the pension, the person has to approach his previous employers to get the non-contribution days, which may not be possible in present day organisations. Those who worked less than 9 y 6 m can have the repayment of EPS contributions, by submitting Form 10-C or can have scheme certificate, if there is no continuity of employment.
Regards
M.Venkatraghavan
From India, Selam
In pension scheme the EPS contribution of 6 months and above is rounded off to next higher year and contributions below 6 months is not considered. Hence a person who contributed 9 years and 6 months continuously in an organisation is given a scheme certificate for pension, as if he has worked for 10 years. The scheme certificate holder is eligible for pension after 58 years or can claim pension at reduced rates after completion of 50 years age. Even in the case of transfer of EPS, it is better to insist on having the original scheme certificate from the PF office, since it contains details of non-contribution days of the employment. The non-contribution days are used for reckoning the pension amount at 50 to 58 years and hence if the details are not available at time of claiming the pension, the person has to approach his previous employers to get the non-contribution days, which may not be possible in present day organisations. Those who worked less than 9 y 6 m can have the repayment of EPS contributions, by submitting Form 10-C or can have scheme certificate, if there is no continuity of employment.
Regards
M.Venkatraghavan
From India, Selam
Dear sirs, We have heard of revision of existing family pension scheme.Any idea as to what is happening?
From India, Visakhapatnam
From India, Visakhapatnam
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PF & Pension Amdmt Scheme 2010 for IW.pdf