Some of our employees have crossed the 10 year mark of their employment with our organisation. As such, they are eligible for pension under their PF. Towards this effect, I would be glad to receive help on the following-
1.Can they opt out of the pension scheme if they want to withdraw?
2. Else is it compulsory to get pension scheme certificate after 10 years of service?
3. One employee is 58 years old and superannuated. He wants to withdraw his full amount and does not want pension.
From India, Chennai
461.Can they opt out of the pension scheme if they want to withdraw?
2. Else is it compulsory to get pension scheme certificate after 10 years of service?
3. One employee is 58 years old and superannuated. He wants to withdraw his full amount and does not want pension.
From India, Chennai
Dear Sir,
1.If the employee having more then 9.6 Years of Experience they will not withdraw the Pension Amount they will get only the Scheme Certificate( it is Act there is no way to Get Pension Amount)
2.After Attain the 58 Age those employee submit the scheme certificate along with form 10D. then only they will receive the pension amount on monthly basis.
Best Regards
M Suresh Kumar
From India, Madras
1.If the employee having more then 9.6 Years of Experience they will not withdraw the Pension Amount they will get only the Scheme Certificate( it is Act there is no way to Get Pension Amount)
2.After Attain the 58 Age those employee submit the scheme certificate along with form 10D. then only they will receive the pension amount on monthly basis.
Best Regards
M Suresh Kumar
From India, Madras
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PF & Pension Amdmt Scheme 2010 for IW.pdf
Employee Pension Scheme, 1995.doc