Case Study:
An employee left last company at the age of 57 Years with the tenure of 14 years. He has withdrawn all his EPF and EPS benefits.Now he is associated with current company and want to claim for Pension. Can he be entitled for the same? what should be the stand of his/her Current Employer.
Please reply in reference to the EPF Act only.
Regards
Manager-HR
From India, Ahmedabad
An employee left last company at the age of 57 Years with the tenure of 14 years. He has withdrawn all his EPF and EPS benefits.Now he is associated with current company and want to claim for Pension. Can he be entitled for the same? what should be the stand of his/her Current Employer.
Please reply in reference to the EPF Act only.
Regards
Manager-HR
From India, Ahmedabad
Hi, Dual pension is not premissible in EPS, it is employee duty to fill Form 11 and submit to present employer. so that employer should not pay the EPS amount for respective employee.. Regards, Anand
From India, Madras
21From India, Madras
After attaining the age of 58 Years, employee cease to be the member of EPS. the complete Contribution of such employee i.e 24% (both Employer and Employee) shall be remitted to the PF Account only.
Even otherwise, his age is 57 years, for one year you can contribute to both EPS and EPF but after one year EPS contribution automatically diverted to EPF Account. for eligibility of pension, one should have 10 years of contribution in EPS scheme. in any case he shall not be able to get pension, we will have to withdraw this one years EPS contribution at end of the day.
regards
Even otherwise, his age is 57 years, for one year you can contribute to both EPS and EPF but after one year EPS contribution automatically diverted to EPF Account. for eligibility of pension, one should have 10 years of contribution in EPS scheme. in any case he shall not be able to get pension, we will have to withdraw this one years EPS contribution at end of the day.
regards
Dear Queriest and other participants,
The correct answer to the case study is as under:
The employee leaves at the age 57 after serving for 14 years. He is entitled for PF withdrawal. He is eligible for pension. He did it.
Now he joins another employment. In new employment he is eligible to join PF and continue to remain in PF till his saperation as long as he wish and his employer wish to. His both the shares will go in PF accounts only.
My request to members to study the matter before reply (and also before appreciating any reply). The viewers carry wrong idea with them.
The answer given by me is not elaborated purposely so that you get a scope to study. One more request, please do not come out with some different answers at least in this.
From India, Mumbai
The correct answer to the case study is as under:
The employee leaves at the age 57 after serving for 14 years. He is entitled for PF withdrawal. He is eligible for pension. He did it.
Now he joins another employment. In new employment he is eligible to join PF and continue to remain in PF till his saperation as long as he wish and his employer wish to. His both the shares will go in PF accounts only.
My request to members to study the matter before reply (and also before appreciating any reply). The viewers carry wrong idea with them.
The answer given by me is not elaborated purposely so that you get a scope to study. One more request, please do not come out with some different answers at least in this.
From India, Mumbai
Case Study:
An employee left last company at the age of 57 Years with the tenure of 14 years. He has withdrawn all his EPF and EPS benefits.Now he is associated with current company and want to claim for Pension. Can he be entitled for the same? what should be the stand of his/her Current Employer.
ANSWER
In the above case he have one year to complete 58 years so he will eligble to EPF AND EPS benefts for one year after that the management decision to continue contribution are not.
If continue total contribution goes to EPF.
From India, Mumbai
An employee left last company at the age of 57 Years with the tenure of 14 years. He has withdrawn all his EPF and EPS benefits.Now he is associated with current company and want to claim for Pension. Can he be entitled for the same? what should be the stand of his/her Current Employer.
ANSWER
In the above case he have one year to complete 58 years so he will eligble to EPF AND EPS benefts for one year after that the management decision to continue contribution are not.
If continue total contribution goes to EPF.
From India, Mumbai
Dear nagaraju0001,
I welcome your different answer even-though I expected no different answer.
Since you have given a different answer, I would like to have a clarification from you.
Once a persons leaves at 57 and settle his accounts - both EPF as well EPS and there after he joins other employment and in that employment his employer contribute towards EPS for one year i.e. up his age 58, what benefit he will get out of this?
You mean to say, at 58 management can take decision to stop his contribution - both the shares.
Can you enlighten the HR community from where you got the answer?
Dear friend, my intention is not to discourage you or any member. Each member has a right to express his views but I request the members to think once before responding. Study the matter before responding. We are HR professionals. Our views carry certain weightage. This I am not telling you alone. I am writing this since it is seen that we HR professions write any thing in this forum with out studying, without thinking.
If I hurt you, please excuse me Dear. I have cent percent confidence in my answer.
From India, Mumbai
I welcome your different answer even-though I expected no different answer.
Since you have given a different answer, I would like to have a clarification from you.
Once a persons leaves at 57 and settle his accounts - both EPF as well EPS and there after he joins other employment and in that employment his employer contribute towards EPS for one year i.e. up his age 58, what benefit he will get out of this?
You mean to say, at 58 management can take decision to stop his contribution - both the shares.
Can you enlighten the HR community from where you got the answer?
Dear friend, my intention is not to discourage you or any member. Each member has a right to express his views but I request the members to think once before responding. Study the matter before responding. We are HR professionals. Our views carry certain weightage. This I am not telling you alone. I am writing this since it is seen that we HR professions write any thing in this forum with out studying, without thinking.
If I hurt you, please excuse me Dear. I have cent percent confidence in my answer.
From India, Mumbai
Dear Sohm.
1. An employee after completing 10years of Service automatically becomes the member of EPS.
2. So an employee is entitled to claim only 13.61% through form 19 & Apply for Scheme Certificate through Form10C.
3. Even if an employee apply for both EPF & EPS, as per PF act EPS cannot be calimed after completing 10years of service as the member is eligible for getting pension after attaining the age of 58years.
4. If the member joins in another organization he has to provide the scheme certificate to the present employers. As the member completed 10years of service the present employers will automatically ceases his EPS and 24% will be directly credited to his EPF account.
5. Member has to apply in Form 10D after attaining 58years. Even he can continue his services while receiving pension.
Seniors are requested to provide their suggestions / corrections if any..
Regards,
K.SAIKISHORE
09396445535
From India
1. An employee after completing 10years of Service automatically becomes the member of EPS.
2. So an employee is entitled to claim only 13.61% through form 19 & Apply for Scheme Certificate through Form10C.
3. Even if an employee apply for both EPF & EPS, as per PF act EPS cannot be calimed after completing 10years of service as the member is eligible for getting pension after attaining the age of 58years.
4. If the member joins in another organization he has to provide the scheme certificate to the present employers. As the member completed 10years of service the present employers will automatically ceases his EPS and 24% will be directly credited to his EPF account.
5. Member has to apply in Form 10D after attaining 58years. Even he can continue his services while receiving pension.
Seniors are requested to provide their suggestions / corrections if any..
Regards,
K.SAIKISHORE
09396445535
From India
Dear Saikishore ji,
Small correction- .... becomes disentited for withdrawal of EPS.
Small correction- .....entitled to claim PF share : his own and employer through for 19 & apply for Scheme Certificate through Form 10C.
Agreed.
Agreed first sentence. I thing, second sentence you mean to say- As the member completed 58 years of age, the present employer........
Agreed.
But in given case, the queriest said that the employee has withdrawn all his EPF and EPS benefits. Here I feel, he mean to say that the employee has withdraw all his EPF and applied for Early Pension at 57.
The question is, in this case can an employee became a EPS member?
From India, Mumbai
Small correction- .... becomes disentited for withdrawal of EPS.
Small correction- .....entitled to claim PF share : his own and employer through for 19 & apply for Scheme Certificate through Form 10C.
Agreed.
Agreed first sentence. I thing, second sentence you mean to say- As the member completed 58 years of age, the present employer........
Agreed.
But in given case, the queriest said that the employee has withdrawn all his EPF and EPS benefits. Here I feel, he mean to say that the employee has withdraw all his EPF and applied for Early Pension at 57.
The question is, in this case can an employee became a EPS member?
From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Flexi Benefits Plan.doc
PF Death case Composite Claim Form No 20,10D & 5IF.xls