Question on EPS Scheme Certificate use for < 58 years non working person

Hi Lakshminarayan / EPF Experts,

I am aged 47 and have resigned from my previous company after completing 14 years. At this stage, I am self-employed (will not join any other company for PF/Pension continuance) and have withdrawn all PF amounts. However, for the EPS withdrawal, I see that only a Scheme certificate can be received upon sending the 10C form. (More than 10 years of experience and less than 58 years)

Questions:
1. Is this true? Can I not withdraw the amount now?
2. If I get the scheme certificate, what is the use of it? (I won't intend to join another company anyway)
3. At 58 years, is this certificate needed to draw a pension?

Thanks a lot for your service and answering in advance.

Hello,

You have some good questions about the Employee Pension Scheme (EPS) withdrawal and the use of a Scheme Certificate. Let me clarify each of your queries:

1. According to the guidelines by the Employees' Provident Fund Organization (EPFO), if you have worked for more than 10 years, you cannot withdraw the EPS amount before the age of 58, which seems to be your case. Instead, you can apply for a Scheme Certificate using Form 10C.

2. The Scheme Certificate is a document that carries the details of your service and family. Should anything unfortunate happen to you before you turn 58, your family members can use the Scheme Certificate to claim the pension.

3. Yes, at the age of 58, you will need the Scheme Certificate to start drawing your pension. You will need to fill out the pension claim forms and submit them along with the Scheme Certificate to the EPFO.

Here's a step-by-step guide on how to proceed:

Step 1: 🤍 Download Form 10C from the EPFO website.
Step 2: 🙏✍️ Fill out the form with all the necessary details.
Step 3: 🤶 Send the completed form to your previous employer or directly to the EPFO, depending on the process followed by your previous employer.
Step 4: 🤲 Once your application is processed, you will receive the Scheme Certificate.
Step 5: 👨&zwj;👩&zwj;👧&zwj;👦💰 Keep the Scheme Certificate safe. You will need to submit it to the EPFO when you turn 58 to start receiving your pension.

Please remember that while you may not intend to join another company, the Scheme Certificate is still valuable as it helps secure a pension for your family in the event of any unfortunate circumstances.

I hope this information helps. If you have any more questions, feel free to ask.