Dear friends,
I am attaching notification dated 3.9.2010 amending Employees PF and Pension Schemes. As per the amendment international workers will be permitted to windraw balance in their account only after retirement at the age of 58 years and not on migration from India for permanent settlement abroad as at present, except in the following cases:
1. Retirement on account of total disablement/incapacity to work.
2. On suffering from leprosy, cancer, tuberculosis.
3. On any other grounds specified in Social Security Agreement(SSA) under which IW is covered.
Regards,
PC Agrawal
Aurangabad
From India, Malappuram
1442I am attaching notification dated 3.9.2010 amending Employees PF and Pension Schemes. As per the amendment international workers will be permitted to windraw balance in their account only after retirement at the age of 58 years and not on migration from India for permanent settlement abroad as at present, except in the following cases:
1. Retirement on account of total disablement/incapacity to work.
2. On suffering from leprosy, cancer, tuberculosis.
3. On any other grounds specified in Social Security Agreement(SSA) under which IW is covered.
Regards,
PC Agrawal
Aurangabad
From India, Malappuram
Dear Do you think Ex patriate workers will keep track and avail refund of their contributions on attaining the age of 58 years. rajanassociates
From India, Bangalore
From India, Bangalore
This is very bad in concept and will not stand the test of law in a court.
EPF dept is very scheming and just wants to keep the money both way in the garb of social security. An ex-patriate working in India at 30 yrs of age will go back in 3 yrs and he will be 33 in age. In the next 25 yrs when he attains 58 yrs of age, he may leave the company working Alaska or die. How he or anybody will keep tracK? and for info on members, ex-patriates do not contribute to EPF a/c. They are clear what salary they want with or without deductions. The company pays 24% of the contributions and ultimately the company is the loser and cost of ex pat employees has gone up by this step. We are thinking of challeging this in a court and let us see........ again the contribution to Fund without ceiling is also bad in law.... indian employees have Rs.6500/- as ceiling. Ex Pats hv no ceiling. We do not understand the diff but for the simple reason that EPF dept wants add more and more money by all means to its kitty!
From India, Bangalore
EPF dept is very scheming and just wants to keep the money both way in the garb of social security. An ex-patriate working in India at 30 yrs of age will go back in 3 yrs and he will be 33 in age. In the next 25 yrs when he attains 58 yrs of age, he may leave the company working Alaska or die. How he or anybody will keep tracK? and for info on members, ex-patriates do not contribute to EPF a/c. They are clear what salary they want with or without deductions. The company pays 24% of the contributions and ultimately the company is the loser and cost of ex pat employees has gone up by this step. We are thinking of challeging this in a court and let us see........ again the contribution to Fund without ceiling is also bad in law.... indian employees have Rs.6500/- as ceiling. Ex Pats hv no ceiling. We do not understand the diff but for the simple reason that EPF dept wants add more and more money by all means to its kitty!
From India, Bangalore
Keen to understand whether an International Worker who is also a Person of Indian Origin and Indian resident would or should be treated differently. Why would normal provisions for say retrenchment not apply ?
Also - concerning the significance of bilateral agreements - what about say a Belgian national, working for a Swiss company, having been sent on an India assignment by a UK subsidiary and then retrenched and remaining in India - under the current status that person would end up paying national insurance in the UK as well as PF contributions in India.
Further insight into the principles behind this legislation appreciated.
Who should be approached officially to seek clarification ?
From India, Bangalore
Also - concerning the significance of bilateral agreements - what about say a Belgian national, working for a Swiss company, having been sent on an India assignment by a UK subsidiary and then retrenched and remaining in India - under the current status that person would end up paying national insurance in the UK as well as PF contributions in India.
Further insight into the principles behind this legislation appreciated.
Who should be approached officially to seek clarification ?
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.
Employees PF (5th Amendment) Scheme 2015.pdf