Hi All,
Need a confirmation. Everybody know that the retirement age is now 60 years from 58years.
Is it true that employee after completing 58 years has no need to contribute to PF fund? I mean, after 58 years, a employee is no need to pay PF till he retires at 60 years.
Please confirm, whether this is true or not?
If true, please provide me the link of Government Order (G.O) of the same.
Thanks and Regards,
Karthik
From India
Need a confirmation. Everybody know that the retirement age is now 60 years from 58years.
Is it true that employee after completing 58 years has no need to contribute to PF fund? I mean, after 58 years, a employee is no need to pay PF till he retires at 60 years.
Please confirm, whether this is true or not?
If true, please provide me the link of Government Order (G.O) of the same.
Thanks and Regards,
Karthik
From India
Under the Provident Fund Schemes there is no retirement age. PF being an investment can be extended beyond 60 years also. However, for an employee who has completed 58 years of age, no need to contribute towards Pension Fund but the entire 12% should be contributed to his Provident Fund. At the same time, if he is a PF Pensioner or he has withdrawn his PF accumulations on his attaining the age of 58, then he can be excluded from PF contribution also. This will certainly apply only to those who was earlier been a member of EPF and does not apply to one who is in receipt of Govt. pension. For those who join after getting retired from Govt service, the PF schemes will apply.
Regards,
Madhu.T.K
From India, Kannur
4250Regards,
Madhu.T.K
From India, Kannur
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PF Pension fund contribution beyond 58 years of age.pdf