Sir,
I was working in a Company in Pune for 11 years who had their PF account with EPO Pune. I resigned. I joined a Company at chennai for two years who had their PF account in EPO Andhra. Later I resigned. Then I joined one construction at Mumbai, who have a PF Trust. I have transferred my pf amount from the Pune based company and Chennai based company to the PF trust at Mumbai.
With regards to my Pension what should I do, As my Mumbai based deposits my pension with Mumbai EPO. What should I do to transfer my Pune based company and Mumbai based company pension amount to my Mumbai based pension account.
Regards,
Soma Sundaran Pillai
From India, Mumbai
I was working in a Company in Pune for 11 years who had their PF account with EPO Pune. I resigned. I joined a Company at chennai for two years who had their PF account in EPO Andhra. Later I resigned. Then I joined one construction at Mumbai, who have a PF Trust. I have transferred my pf amount from the Pune based company and Chennai based company to the PF trust at Mumbai.
With regards to my Pension what should I do, As my Mumbai based deposits my pension with Mumbai EPO. What should I do to transfer my Pune based company and Mumbai based company pension amount to my Mumbai based pension account.
Regards,
Soma Sundaran Pillai
From India, Mumbai
54
Mr.Pillai
since you have not completed 50 years of age and since the Mumbai based company has it's own P.F trust, in my view, there are two options available to you.
1) wait till you attain 50 years and thereafter calim reduced pension or
2) withdraw the pension fund since in my view the pension fund under the Pension scheme 1995 cannot be transferred to Private Trust fund.
However, the views of other expert memebers may also be sought and awaited.
B.Saikumar
HR & labour Law advisor
Mumbai
From India, Mumbai
since you have not completed 50 years of age and since the Mumbai based company has it's own P.F trust, in my view, there are two options available to you.
1) wait till you attain 50 years and thereafter calim reduced pension or
2) withdraw the pension fund since in my view the pension fund under the Pension scheme 1995 cannot be transferred to Private Trust fund.
However, the views of other expert memebers may also be sought and awaited.
B.Saikumar
HR & labour Law advisor
Mumbai
From India, Mumbai
Sir,
I have a query , whether my pension amounts of both of my companies can be transferred to my Mumbai Pension Account, as my present job, Pf is transferred to Trust and Pension is transfered to Mumbai EPO (Government Agency).
Please clarify me.
Regards,
Soma Sundaran Pillai
From India, Mumbai
I have a query , whether my pension amounts of both of my companies can be transferred to my Mumbai Pension Account, as my present job, Pf is transferred to Trust and Pension is transfered to Mumbai EPO (Government Agency).
Please clarify me.
Regards,
Soma Sundaran Pillai
From India, Mumbai
Mr.Pillai
so far as my undestanding of the Provisions of P.FAct is concerned, the pension fund with the Pune company can be transferred to Andhra company by scheme certificate since both the companies are covered by the P.F.Act.Since your Mumbai company has it's own P.F Trust and is not covered by the P.F Act, the pension fund,Iam afraid, cannot be transferred to mumbai company unless it also subscribes to pension fund under the Pension scheme 1995. Otherwise, the two options as indicated in my previous post canbe availed by you.
B.Saikumar
HR& Labour Law Advisor
Mumbai
From India, Mumbai
so far as my undestanding of the Provisions of P.FAct is concerned, the pension fund with the Pune company can be transferred to Andhra company by scheme certificate since both the companies are covered by the P.F.Act.Since your Mumbai company has it's own P.F Trust and is not covered by the P.F Act, the pension fund,Iam afraid, cannot be transferred to mumbai company unless it also subscribes to pension fund under the Pension scheme 1995. Otherwise, the two options as indicated in my previous post canbe availed by you.
B.Saikumar
HR& Labour Law Advisor
Mumbai
From India, Mumbai
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