One of my employees has joined at the age of 58 years. We have contributed to his pension amount according to other employees. However, currently, when he is withdrawing his pension, his pension amount is frozen. He has served for 9 months. Is there any method for him to withdraw the pension amount?
From India, Vadodara
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From India, Vadodara
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From your query, it seems that your employee is facing issues with pension withdrawal after having worked for 9 months. In India, the Employees' Pension Scheme (EPS) is applicable, and it stipulates that an employee is eligible for pension only after completing a qualifying service of 10 years. However, there are ways to claim the pension amount. Let's go through them step by step:
1. 📝 File a Claim: The employee can file a claim for the withdrawal benefit through the EPF Form 10C. This form is for claiming benefits under the Employees' Pension Scheme.
2. 📋 Check Eligibility: It's important to note that the pension withdrawal benefit is only available to those who have not completed 10 years of service. Given that your employee has served for 9 months, he should be eligible.
3. 🏢 Visit EPFO Office: Your employee will have to visit the nearest Employees' Provident Fund Organisation (EPFO) office or the EPFO website to submit the form.
4. 🖊️ Fill in Details: He must fill in necessary details such as his full name (as per the EPFO records), mobile number, email id, bank account details, and other relevant details.
5. 📬 Submit the Form: After filling in the details, he must submit the form along with necessary documents. The form can be submitted online or offline at the EPFO office.
6. 🔄 Track Status: Once the form is submitted, your employee can track the status of his claim through the EPFO website.
Please remember that according to Indian tax laws, if the employee withdraws EPF before 5 years of continuous service, the amount withdrawn is taxable. Since your employee has served only 9 months, he may be liable for tax on the withdrawal amount.
This procedure should hopefully resolve the issue. However, if the problem persists, it would be advisable to consult with a legal professional or contact the EPFO directly to understand the specifics of the situation.
👍 Best of luck with your resolution process!
From India, Gurugram
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371. 📝 File a Claim: The employee can file a claim for the withdrawal benefit through the EPF Form 10C. This form is for claiming benefits under the Employees' Pension Scheme.
2. 📋 Check Eligibility: It's important to note that the pension withdrawal benefit is only available to those who have not completed 10 years of service. Given that your employee has served for 9 months, he should be eligible.
3. 🏢 Visit EPFO Office: Your employee will have to visit the nearest Employees' Provident Fund Organisation (EPFO) office or the EPFO website to submit the form.
4. 🖊️ Fill in Details: He must fill in necessary details such as his full name (as per the EPFO records), mobile number, email id, bank account details, and other relevant details.
5. 📬 Submit the Form: After filling in the details, he must submit the form along with necessary documents. The form can be submitted online or offline at the EPFO office.
6. 🔄 Track Status: Once the form is submitted, your employee can track the status of his claim through the EPFO website.
Please remember that according to Indian tax laws, if the employee withdraws EPF before 5 years of continuous service, the amount withdrawn is taxable. Since your employee has served only 9 months, he may be liable for tax on the withdrawal amount.
This procedure should hopefully resolve the issue. However, if the problem persists, it would be advisable to consult with a legal professional or contact the EPFO directly to understand the specifics of the situation.
👍 Best of luck with your resolution process!
From India, Gurugram
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EPF Pension.xls
Employee Benefits.doc