I am a 50 years old guy. Employed from last 12 year (Means contributing in Employee Pension scheme from last 12 Years).
Please tell me whether I can Receive monthly pension under Employee Pension scheme 1995, If i apply for the same? (as I am still employed).
If Yes, What should be the procedure??
Secondly, What will be the status of Monthly employer's contribution towards Employee Pension scheme??
From United States, New York
Please tell me whether I can Receive monthly pension under Employee Pension scheme 1995, If i apply for the same? (as I am still employed).
If Yes, What should be the procedure??
Secondly, What will be the status of Monthly employer's contribution towards Employee Pension scheme??
From United States, New York
Dear Jain,
Those who have contributed 10 years' service are eligible for pension and minimum age to get pension is 50 years. But to avail pension before the age of 58, you have to quit from EPF applicable service. But after completion of the age of 58 years you will get pension, even though you continue the service.
If once you availed pension at the age of 58 years or even before, further there will not be any contribution to EPS. Full amount will go to EPF.
Abbas.P.S
From India, Bangalore
517Those who have contributed 10 years' service are eligible for pension and minimum age to get pension is 50 years. But to avail pension before the age of 58, you have to quit from EPF applicable service. But after completion of the age of 58 years you will get pension, even though you continue the service.
If once you availed pension at the age of 58 years or even before, further there will not be any contribution to EPS. Full amount will go to EPF.
Abbas.P.S
From India, Bangalore
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
Employee Pension Scheme, 1995.doc
Form10C.PDF for Employee Pension Scheme 1995.PDF