If a person having salary of Rs. 50000/- per month but his pension fund deducted from salary is Rs. 1250/- per month and he is still working. please tell me if he is still continues his pension fund contribution at Rs. 15,000, will he get the pension scheme benefit, If he deposits his old pension fund above 6500 deposit to the epf department again, then what will he get from the pension fund?
From India, Chandigarh
1From India, Chandigarh
Under the revised Employees Pension Scheme'95, the contributor is entitled to a max. of Rs.7500/- as pension seeing the restriction of contribution based on wage ceiling of Rs. 15,000/-. Before 2014 amendment, the max. pension was Rs.2500/- pm. There is progressive increase from it depending on the contribution period after the wage ceiling was revised to Rs. 15,000/- . The option of retrospectively enhancing pension contribution to actual salary is presently not allowed by EPFO, but the matter is pending before the Supreme Court and different High Courts. The pensioners are sanguine of getting the matter in their favour in the higher courts of the country.
From India, Mumbai
From India, Mumbai
Dear sir
I had worked for 26 year and contributed in the pension fund since 1983. I left the job in October 2008 and applied for grants of pension. The PF authorities has sanctioned me a pension of Rupees 1193.00 per month. At that time I was not sure to work more. But in the month of December 2008 I got a best apportunity and join there. In spite of this I was not sure to continue for long time there. But now I have completed more than 9 years in this company and not contributed for pension fund. My total amount is depositing in the EPF. Sir my question is can I get the pension if the amount of EPF with interest will be paid and deposit the amount which I got from the authority with interests as applicable. Kind suggest. My DOB is 04.03.1959.
Regards
Madan Lal
From India, New Delhi
I had worked for 26 year and contributed in the pension fund since 1983. I left the job in October 2008 and applied for grants of pension. The PF authorities has sanctioned me a pension of Rupees 1193.00 per month. At that time I was not sure to work more. But in the month of December 2008 I got a best apportunity and join there. In spite of this I was not sure to continue for long time there. But now I have completed more than 9 years in this company and not contributed for pension fund. My total amount is depositing in the EPF. Sir my question is can I get the pension if the amount of EPF with interest will be paid and deposit the amount which I got from the authority with interests as applicable. Kind suggest. My DOB is 04.03.1959.
Regards
Madan Lal
From India, New Delhi
The sanction of Rs.1193 as monthly pension from Oct'08 seems reasonable for your pensionable service under EPS'95 from 1995 to 2008.But it is a bit confusing, as you had resumed PF contribution in Dec'08 without contributing to pension fund. This appears improbable on the face of it, as apportionment of EPS contribution is compulsory once you contribute to PF. Your quest for getting pension by depositing the EPS share may not be agreed by EPFO, as the position stands now. But similar matter of retrospective option is before High Courts and Supreme Court, you may await the final result of the litigation.
From India, Mumbai
From India, Mumbai
I had worked in a limited company at Hosur from 1992 to 2002 and after the factory closure, the PF settlement along with a EPF certificate of 10 years was given to me. I joined another company of same group at Kolkatta from 2002 and retired in 2016. The company i joined had EPF Trust at Vijayawada. The registered office was in Kolkatta. I had handed over the EPF certificate at the time of joining the said new company at Regd office for onward transmission to Vijayawada EPF trust. After my superannuation in 2016 i received only my PF contribution. I have not received Pension as on date. On enquiry with both Regd office and EPF trust office at Vijayawada, no response coming through. What next course of step i should take, please advise. Now i am 62 years . Regds
From India, Bengaluru
From India, Bengaluru
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.
PF Pension fund contribution beyond 58 years of age.pdf
EPF - Pension contribution is zero WHY.jpg