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Note that the table D is upto 9 yrs only, because if 10 yrs are crossed, then you are liable for pension.
3. Repay a housing loan for a house in the name of self, spouse or owned jointly - You should have completed at least 10 years of service. - You are eligible to withdraw an amount that is up to 36 times your wages. 4. Alterations/repairs to an existing home for house in the name of self, spouse or jointly - You need a minimum service of five years (10 years for repairs) after the house was built/bought. - You can draw up to 12 times the wages, only once. 5. Construction or purchase of house or flat/site or plot for self or spouse or joint ownership - You should have completed at least five years of service. - The maximum amount you can avail of is 36 times your wages. To buy a site or plot, the amount is 24 times your salary. - Can be avail of it just once during the entire service.
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1 Sathish May 14, 2012 at 10:14 am Nice and informative. Particularly the loan for house/flat/plot purchase which I was not aware at all! Reply
2 NARAYANAN May 14, 2012 at 11:12 am Dear Manish, very nice article. True, very few no the rules of EPF. I have withdrawn twice after 9 years in two companies. I collected the money and used. Never thought of finding how much it is or as the govt given the full money etc. Small clarification. You mention that EPS CAN BE WITHDRAWN ONLY AT AGE 58. does that mean that i can make a claim at age 58 ? Reply
3 Manish Chauhan May 14, 2012 at 6:04 pm Narayanan No , mostly you got your EPS also when you withdrew ! Reply
5 Manish Chauhan May 14, 2012 at 6:16 pm Now you can take use of it ! Reply
6 Ankur May 14, 2012 at 10:23 am Manish Thanks much for this post!!!! EPF and EPS clarification was very very helpful. Reply
7 Manish Chauhan May 14, 2012 at 6:15 pm Thanks Ankur what else did you learn from post ! Reply
8 Arun May 14, 2012 at 10:31 am Very useful information. Thanks a lot sir. Reply
10 Ronak May 14, 2012 at 10:36 am Nice read, Manish. Very informative. Keep up the good work. Reply
12 Rachit May 14, 2012 at 10:41 am A very good and informative article. Keep posting more.. PPF, Health insurance, Stocks, MF etc. Reply
Hi Manish, Thanks for a very informative article. I have a query. I have not transferred or withdrawn EPF from my first employer where I worked for 2 years until 2009. I didnt bother withdrawing as I am not in need of EPF money. What should I do now.. transfer it to my current employers EPF account or withdraw it? Thanks, Siva Mohan Reply
15 Kranti Goyal May 14, 2012 at 10:57 am Hi, As per current rule, In EPF if money is not deposited for continuous 3 years then account status changes to be dormant and no interest will be pay in future. Manish you can also add this to article. Thanks and Regard Kranti Goyal Reply
16 Manish Chauhan May 14, 2012 at 6:08 pm Thats a good point , but I think a lot of people might know this Reply
17 Manish Chauhan May 14, 2012 at 6:12 pm Siva You need to fill up form 13 and apply for transfer , after 6 months of doing so if you dont see any progress , then file RTI and get more info on that http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html Reply
18 Krishna May 14, 2012 at 10:49 am Hi Manish, It was an eye opener when it comes to using your EPF for house/plot purchase. Should I repay it in case of partial withdrawl for marriage / purchase of plot/flat. And if yes is there any interest associated with it Reply
19 Manish Chauhan May 14, 2012 at 6:11 pm Krishna Its not a loan , its a partial withdrawal , so no point of interst ! Reply
20 Sharat Trehan May 14, 2012 at 10:51 am At the end you have written that you have done a detailed post on how to file an RTI on EPF issues. Can you possibly mail that link? Regards, Sharat Reply
Hi Sharat, Please go thru the following links posted earlier: http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html http://www.jagoinvestor.com/forum/how-to-apply-for-rti/1957/ Please follow up the blog by signing up thru email at top left box in the page for the future blog updates. Regards, Vishnu Agarwal Reply
22 Sharat Trehan May 14, 2012 at 1:26 pm Dear Vishnu, Thanks for the prompt reply and the useful links. Regards Sharat Reply
23 Kapil May 14, 2012 at 12:32 pm There you go http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html Manish you may want to add the link to the article Reply
26 Dhanesh Chakraborty May 14, 2012 at 10:51 am I worked in a private company for 10 years.. but not got any penson even not received full PF..can I have any suggestion for recoverning for pending pf Regards DhaneshChakraborty 941126067 Reply
27 Anurag May 14, 2012 at 1:39 pm Hi, Pension starts after 58 yrs age of applicant not immediately. You need to interact with EPF commissioner office to get the details and reply when you reach 58 yrs of age. Rgds, Reply
Actually it can start after 52 yrs also subject to some resitriction and condition Reply
29 Manish Chauhan May 14, 2012 at 6:10 pm You need to be above 58 age , to get get pension , If you have applied for withdrawal , then you must have got the EPS money too .. use RTI to know more about it http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html Reply
30 Rachit May 14, 2012 at 10:52 am A few queries: 1. As EPS is 8.33% then let say that amount for an individual crosses Rs 541 then where the rest of the money will go. e.g. EE Contribution: 2000 Rs /month ER contribution: 2000 Rs/ Month Now 2/3 of 2000 Rs of ER will go for Pension which is almost like 1334 Rs but as maximum limit is 541 Rs / Month then 1334-541 = 793 Rs, where wil it go? 2. Will the compounding interest be given in baove example on: 2000 + 666 = 2666 rs OR on: 2000 + 666 + 793 = 3459 Rs Thanks Reply
31 Vishnu Agarwal May 14, 2012 at 12:11 pm In my case only 541 is deposited for EPS. Rest of Employer contribution & EPF I can see in my account, and elegible to withdraw as per the conditions. So the extra money goes into EPF account only. Regards, Vishnu Agarwal Reply
32 Paddu May 14, 2012 at 1:32 pm 2000-541 EDLI if applicable = 1459 EDLI if applicable, will go to EPF. [I noticed the discrepancy between Employee/er's contributions in my EPF account statement (that I always get 2 years(!) after the end of the financial year), researched epfindia.nic.in & found about EPS & EDIL and I'm answering based on my EPF statement & that website.] Reply
33 Manish Chauhan May 14, 2012 at 6:10 pm Rachit If EPS thing crosses 541 , then rest will go in EPF only , EPF earns interst , EPS does not ! Reply
34 Poonam May 14, 2012 at 11:06 am Very useful information. Thanks. Regards, Poonam. Reply
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36 Pro Money Investor May 14, 2012 at 11:07 am In many private organizations,the owners prefer collecting even their contribution from the staff salary and it is obvious that the employees can not raise their voice so that their job itself will be at stake. Reply
37 Manish Chauhan May 14, 2012 at 6:07 pm Pro Thats part of CTC .. Nothing wrong in it . They can always tell you CTC less and then add their contribution , rather they tell you in CTC . Whats wrong in that ? Reply
38 Amol May 14, 2012 at 11:10 am Dear Manish, Very Informative artcile about EPF and EPS. I have been working from last five years and was not aware of this one. Thanks! as You said withdrawing EPF is illegal and we should map existing EPF with New Company, I found that we need to take a lot of followup doing those things. I heard from one of my friend that his earlier company did not cooperated in doing so and he has to travel many time for that. same about EPF office. Do we have facility to transfer EPF account online? FYI. In your Diagram you have repeated Employees Contibution instead of Employers. may be a typo:-) Regards, Amol Reply
39 Paddu May 14, 2012 at 2:30 pm What I hear is that if your earlier companys EPF is managed by private trustees it should be easy to transfer (they might even have online transfer?). But if it is managed by the EPF organisation (http://epfindia.nic.in), you know how difficult it is to get work done in govt. offices! As other people have said, file an RTI to get the transfer done! Reply
40 Manish Chauhan May 14, 2012 at 5:19 pm Might be . I am not sure if private trustees are more efficient ! Reply
41 Manish Chauhan May 14, 2012 at 6:06 pm Amol Withdrawing is illegal if you are still employed , if you are really not having any job , you can withdraw it . Employer;s will just fill up your form and start the process , after that they are not suppose to and will not follow up , its not their work and not their responsibility , they are right in saying so , its between you and govt now . File RTI , it works in all situation : http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html Reply
i think there are different PF schemesam not clear about of pension and provident fund linkagecan you elaborate more mentioning the source of info please. EPS is different scheme but for PF employes has to contribute basic 8.33% and it has to be be clubbed with employees contribution. Reply
43 Manish Chauhan May 14, 2012 at 6:03 pm Sri What are you confused about . EPS is an internal thing in EPF , you can see the graph which i made and posted above Reply
45 Kshitij May 14, 2012 at 11:23 am I have a query (not able to post in the forum): I was working from Feb 2004 to Jan 2008 in Satyam, Hyderabad. I want to withdraw my PF (as I have been advised that transfer will take ages). They have given me a affidavit as it is 3+ years since I have left that job. So will my withdrawal be taxable (considering that if you withdraw before completing 5 years you get 30% taxed)? Reply
46 Paddu May 14, 2012 at 1:42 pm First withdrawing while having a job is illegal. Now, if you have no job and withdraw the amount before 5 years elaborate calculation is to be carried out according to the IT Act Fourth Schedule (http://law.incometaxindia.gov.in/DIT/HtmlFileProcess.aspx? FooterPath=D:\WebSites\DITTaxmann\Act2010\DirectTaxLaws\ITACT\HTMLFiles\2011&DFile=schedule4.htm) Rule 9: (i) for each of the previous years including the year of withdrawal tax benefit due to EPF has to be removed & tax recalculated, (ii) the difference between the recalculated tax and tax actually paid in all these years will be the tax on withdrawal. As per Rule 10 the tax has to be deducted at source before giving you the money, but I heard that usually they only deduct 10% of the tax! Reply
47 Paddu May 14, 2012 at 1:42 pm Oops! Please read 10% of the tax as 10% of the withdrawal amount as tax. Reply
48 Manish Chauhan May 14, 2012 at 5:21 pm Thats really a good idea .. will you be able to give an example using some figures ! Reply
49 Manish Chauhan May 14, 2012 at 6:02 pm Yes .. you will be taxed and its not 30% , its actually added to your income and then taxed as per your slab Reply
I did a job in a Pvt company for two years, and i have left the job from last six months.Till i dont get a job , is it possible to withdraw my EPF.What is the procedure, plz tell me. Thanks. Reply
51 Manish Chauhan May 14, 2012 at 6:01 pm Yes . its possible ,you just need to follow this http://www.jagoinvestor.com/forum/procedure-to-withdraw-epf/1011/ Reply
52 jake May 14, 2012 at 11:24 am Nice Article Manish, this is really informative. I would like to ask one question here. I have my previous PF account which is dormant now. How do I transfer the money from that dormant account to my present PF account? Reply
53 Manish Chauhan May 14, 2012 at 5:53 pm Jake You need to follow the procedure for transfer of EPF Fill form 13 http://www.thinkplaninvest.com/2009/02/epf-pf-transfer-and-form-13/ Reply
54 Ganesh Balasundaram May 14, 2012 at 11:25 am The bottom portion in the embedded figure should indicate Employer. Reply
56 Sylvestor May 14, 2012 at 11:29 am Nice Article. More clarity is needed how pension is calculated after 58 yrs of age. Reply
57 PATHY May 14, 2012 at 11:52 am Hi MANISH GOOD INFORMATION CLARITY ON PENSION CALCULATION AFTER 58 YRS Reply
58 Manish Chauhan May 14, 2012 at 5:47 pm Pathy Please post your questions in simple words ! Reply
59 Manish Chauhan May 14, 2012 at 5:51 pm Sylvestor Here is the reference Under Employees Pension Scheme, the monthly retiring pension is decided on the basis of Pensionable Service and Pensionable Salary and is worked out as follows Monthly pension=( Pensionable salary*Pensionable service)/70 Pensionable Salary is arrived at by considering the average contributing salary immediately preceding 12 months from the date of exit from the scheme, normally this would be limited to Rs 6,500 p.m. unless certain enhanced contributions are made by the employer with permission. Pensionable Service is the service in years rendered by the member for which contributions have been received maximum cannot exceed 35 years Reference : http://www.bemoneyaware.com/blog/epf/ You can also see this article : http://www.citehr.com/74122-pension-calculator-under-epf-scheme.html Reply
60 Shrenik May 14, 2012 at 11:43 am Hi Manish, Once again very informative and useful article from your side. Here it is mentioned that One is liable for pension only if he has completed 10 yrs of service (in case of more than one companies, the EPF should have been transferred, not withdrawn) The maximum Pension per month is subject to maximum of Rs 3,250 per month. I have completed 09 years of service in one company. can you pls also elaborate on what basis amount of pension is being decided and after a year (when I complete 10 years) is it worth for me to apply for pension or I can do that any time after completing 10 years ? Which one will give more advantage? Once again thanks for nice and article. Reply
61 Manish Chauhan May 14, 2012 at 5:50 pm You also need to complete 58 yrs of age ! .. So if you have completed 10 yrs of service , but not of 58 yrs ,still you need to wait for pension Reply
62 SHYAM May 14, 2012 at 11:44 am Dear Manish, Very -2 usefull information. I have a query that my basic salary is 6500.00 and my total contribution is for 20 year How much pension amount i will get on retirement. Thanks Shyam Reply
63 Manish Chauhan May 14, 2012 at 5:49 pm Shaym There can be changes in between .. You can search more on the formula on EPF pension calcualtion Reply
Nice Article Manish, will it be possible for you to add the information about the calculation of interest part, also a calculator in excel would be of great help. Reply
65 Manish Chauhan May 14, 2012 at 5:48 pm Calculation of Interest ? Its a normal way of yearly compound interest . With 8.5% , 100 becomre 108.5 at the end of year .. and then again 8.5% of 108.5 is added back so on Reply
66 Anurag May 14, 2012 at 11:52 am Hi Manish, What is the procedure to be followed for transfer of EPF Account when switching jobs. I just received a statement from my Company regarding my EPF Balance but isnt there any way so that I can check it myself online like some account number. Thanks Reply
67 Manish Chauhan May 14, 2012 at 5:46 pm Anurag You can follow these http://www.rtiindia.org/forum/19466-how-withdraw-pf-without-signing-previous-employer.html http://www.jagoinvestor.com/forum/epf-account-transfer-issue/2892/ http://www.jagoinvestor.com/forum/transfer-of-epf-account/234/ Reply
68 Vishnu Agarwal May 14, 2012 at 11:53 am Hi Manish, Again you surprised us with such a detailed information. Further, Ive few questions, if you can help: 1. Ive worked in 3 years in one company, and transfer to other, where further worked completing total 6 years. As funds are transferred from Delhi to Bangalore, PF account number is also changed. Than, what is the life of PF (Table D)? 2. If I want to decrease the PF contribution from 12% to say 2%, is it possible? If it is, Is it dependent on company? 3. How to check the total EPS accumulate as I transferred my PF from previous employee to current, and raising query to epfindia is only giving me EPF & Emp contribution and telling me if EPS got transferred or not? Thanks, Vishnu Agarwal Reply
69 Paddu May 14, 2012 at 2:46 pm 2. PF contribution has to be 12% of PF basic, period. However the PF basic can be declared to be anything between Rs. 6,500 p.m. and your actual basic, in case your basic exceeds Rs. 6,500 p.m. Thus minimum PF is 12% of Rs. 6,500 p.m. = Rs. 780 p.m. Now, my company was allowing this option until it got acquired and now the parent company doesnt give the option of declaring a lower basic to EPF, so Im sure this is dependent on company. 3. Yeah, EPF account statement is totally silent on EPS. There seems to be no easy way of knowing the EPS balance. Proly need to file an RTI? Reply
70 Manish Chauhan May 14, 2012 at 5:17 pm Paddu Yes .. It actually depends on the company that they want to take 6500 or your actual basic . But most of the companies take the actual numbers . To get your EPS balance , follow this article : http://www.jagoinvestor.com/2012/02/epf-balance-status-online.html . You might get the SMS and it will contact two numbers , the lower one is mostly your EPS . Else RTI is the sure shot tool for find all answers Manish Reply
71 Manish Chauhan May 14, 2012 at 5:44 pm 1. It would be 9 yrs (6+3) , because it was transfered . 2. No you cant do that. . 12% of basic is mandatory 3. Use RTI http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html . Works faster , is a little pain to do ! Reply
72 Sundeep Gupta May 14, 2012 at 12:19 pm Hi Manish, 1. I requested for transfer of my EPF from my previous 2 organisations to my current organisation. This was done in Aug 2011, and I have no updates so far. My employer say they do not follow up on this. How can I get the information / status of my transfer request. 2. Given that I requested for transfer in aug 2011 and there is no action on that yet, can I opt for withdrawl from my previous EPF account (knowing that its illegal) ? 3. This is a general question. Assuming a person is no longer working and has withdrawn his PF and all his EPF accounts are closed. And after say 1year he plans to join a job. Can he/she fill form 11 and opt out of the EPF contribution (Given basic is > 6500) Reply
73 Manish Chauhan May 14, 2012 at 5:41 pm Sundeep 1. This happens all the time , its just few months as of now and your delay is below average this : http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html 2. Yes mostly you can do that, use RTI again in this case . 3. This is tricky , but as per the wordings in the rule of EPF If a person has earliar been part of EPF , then he cant opt out of it , I would say NO Reply . But you can now file an RTI and find how why is it stuck , do
74 Nita May 14, 2012 at 12:21 pm Very nice article manish. I was not aware about the pension one can get under EPF Reply
75 Manish Chauhan May 14, 2012 at 5:35 pm Yes .. Most of the people dont know because we never see someone sticking to a job for 10 yrs or so ! Reply
76 ravindra May 14, 2012 at 12:21 pm Thanks, for information gate Rs.3500 maximum limit EPF pension & How to caculate EPF pension
Reply
78 Koganti Srinivasa Rao May 14, 2012 at 12:46 pm I am 42 years old. If I want to a get a monthly pension of Rs 15000 per month from my 60th year, how much I have to invest per year and how many years. Please, let me know which is the best pension plan and insurance company. Reply
79 Manish Chauhan May 14, 2012 at 5:27 pm Koganti In this case EPF will not be useful because one can not get 15000 per month in EPF , its limited to 3-4k only as you can read about . To get 15000 per month , all you need is 20 lacs and investing in something giving 10% per annum , I think you should focus right now on growing your wealth , so just do SIP in mutual funds , after 18 yrs , when you are at 60 , there will be plenty of ways of doing it ! Reply
80 SURESAN RAJA May 14, 2012 at 1:01 pm Mr.Manish, You are great for giving this another good blog. I need some more clarification of the following: 5. Construction or purchase of house or flat/site or plot for self or spouse or joint ownership - You should have completed at least five years of service. - The maximum amount you can avail of is 36 times your wages. To buy a site or plot, the amount is 24 times your salary. - Can be avail of it just once during the entire service. If my gross salary is 40000 p.m. then I will be eligible for Rs.144000/- or it is calculating basic pay i.e. suppose Rs.18000/- then I will be eligible for Rs.648000/-. My service balance is only for 7 years. Is there any terms to link with available EPF/EPS amount to sanction the advance? What will be the interest? I heard that it is 2% p.a. Please clarify sir, Reply
81 SURESAN RAJA May 14, 2012 at 1:03 pm In my earlier comments please read Rs.1440000/- instead of Rs.140000/Regards, Reply
82 Manish Chauhan May 14, 2012 at 5:25 pm Suresan The first thing is that you are not getting any LOAN , you are actually getting your own money from EPF , its partial withdrawal here . Next thing is that it will be 36 X BASIC Salary , because there can be two different people with same basic but different take home . So it does not make sense to assume take home salary or gross salary . Its basic ! Reply
Dear Manish, thanks for nice informative article. I want to know one thing thatwhen any EPF loan is due then can anyone repay and take another loan in the same financial year or not? Reply
84 Manish Chauhan May 14, 2012 at 5:23 pm I am not sure what exactly is your question . What is meant by EPF loan ? Reply
85 PATEL BHAVESH May 14, 2012 at 1:31 pm Very nice.Thank u very much for updating as its very helpful in our life as far as fro the serviceman and women. Reply
87 Bishal May 14, 2012 at 2:19 pm Hi, does this elf information apply only in India or other countries too? Thanks. Reply
88 Manish Chauhan May 14, 2012 at 5:20 pm Its only for India Reply
89 Bishal May 14, 2012 at 2:20 pm Sorry, I meant EPF and EPS. Reply
90 Roshni Nayak May 14, 2012 at 2:26 pm Hi Manish, Nice article, you can add 2 more points here, 1. No interest will be credited in the EPF acount which are lying dormant for 3 years or more. This is with effect from April 1,2011. 2. If you withdraw EPF money before five years, it will be taxed. Regards, Roshni Reply
91 Manish Chauhan May 14, 2012 at 5:20 pm Thanks for those points Rashmi I considered them to be more known points actually Reply .. But those are points many people would not know about !
92 Charu Gupta May 14, 2012 at 3:06 pm Manish, A very very useful information, especially point 6 and 10. I had been looking for this information from a loong loong time and here you are, heard it and fulfilled it! Thanks a lot. Btw, though Ill go through you post on how to file for your EPF information, just wanted to know what can I do if my previous employer is not able to retrieve my EPF account information and details. If my current employer has to contirbute to my EPF, how can they do so when I dont even know my EPF account number? Charu! Reply
93 Manish Chauhan May 14, 2012 at 5:13 pm Charu When your new employer does not have your old EPF details , in that case they open a new EPF account on your name and you then have 2 EPF accounts . You can then choose to transfer your old EPF money to new EPF . You old Employer is not able to locate your EPF account number also ? Just number ! .. If you have the account number somewhere in old salary slips etc , you can then just fill up a form for transfer of your EPF to new EPF . Do use RTI if this does not happen fast (6 months) Manish Reply
94 Veeraf May 14, 2012 at 3:19 pm Excellent article contents and presentation. I have not meet a single person in my life time who was able to explain in points EPF, EPS and VPS. Best Regards, Reply
95 Manish Chauhan May 14, 2012 at 5:11 pm Good to hear that Veeraf ! thanks for appreciation . Teach to others now Reply
96 Satish May 14, 2012 at 4:29 pm Thanks for posting the great information which many of us does not know. Keep posting similar information regularly Dr.Satish (Hyderabad) Reply
97 Manish Chauhan May 14, 2012 at 5:10 pm Thanks Satish .. I hope you learnt some really new things which you were unaware of ! Reply
98 Praveen May 14, 2012 at 5:16 pm Hi Manish Lets say i quit my job and withdraw my EPF. What are the tax rules for this? Do i need to pay any tax on it? Reply
99 Manish Chauhan May 14, 2012 at 5:27 pm Praveen If you have completed 5 yrs of service , then no tax ,else it will be added as your income and taxed as per your slab ! Reply
100 Sushil May 14, 2012 at 5:27 pm Manish Ji. Excellent Article once Again.though i knew much about EPF yet point no 3 and 4 are absolutely new for meThis information was indeed very well I am a regular visitor of your blog and now it has become my habit to visit it atleast once daily to check if anything new is therei am addict to jagoinvestor.com pls keep it up Reply
101 Manish Chauhan May 14, 2012 at 5:28 pm Good to hear that Sushil .. keep it up Reply
102 C.R.KESAVAN May 14, 2012 at 6:05 pm Manish, The article is a very good one. I did not know about the EPS part(8.33%) does not generate any interest. Employees who get12% of their actual basic(instead of Rs780) will lose substantial amount of 8.33% of their employers contribution because of inflation & Zero interest. This is really terrifying. Reply
104 Manoj May 14, 2012 at 6:14 pm Thanks for the info. I have one queryYou have mentioned Employee contribution can go beyond 12% of basic. Is there any cap on this contribution? Reply
105 Manish Chauhan May 14, 2012 at 6:17 pm No, there is no cap on this .. 100% of your Basic can go in EPF .. Reply
106 Pavan May 14, 2012 at 6:31 pm HI Manish, Many thanks for your post. My understanding of 4th point (4: You might not get 100% of your EPF money) is below. Assume monthly salary is 20834. His contribution towards EPS (subject to 541 per month is maximum) is 6492. He leaves job after 1 year and opts for withdrawal. The EPS he gets is 20834*1.02 (As per table D) = 21250. But this amount is more than the balance he has. Is this correct. Also, if 10 yrs are crossed, then you are liable for pension Does this mean if he withdraws after 10 years he will get a pension? If Yes how is this calculated. Reply
107 Manish Chauhan May 14, 2012 at 6:46 pm Pavan No . Your EPS is subject to Maximum the amount is there in EPS salary , not the gross Also Pension will be given only once you are above age 58 yrs Reply . So whatever is lower will be given to you . Another thing is that here the salary is basic
108 Pavan May 14, 2012 at 6:57 pm Hi Manish, Thanks.. I meant basic salary only since EPFO will only know our basic salary . One more query.. Do we need to give seperate application to transfer EPS or once we transfer EPF it will happen automatically ? Reply
109 Vineet May 14, 2012 at 7:51 pm Very nice and informative article as usual. >>>Lifelong pension is available to the member and upon his death members of the family are entitled for the pension. Till what time family members can get pension? Which family members get it? Only those which are nominee? Reply
110 Vineet May 14, 2012 at 7:53 pm Another question what happens if person dies before reaching age 58. Are famliy members able to get pension in such case? If yes, till what time will they continue to get pension? Reply
111 Suresh Kr. Ray May 14, 2012 at 8:53 pm Manishji,Once again the article is very relevant and informative. You have made known many hidden aspect of the EPF. One can seldom get these hidden aspect of EPF anywhere. And Its Happens only In JAGOINVESTOR. THANX Reply Leave a Comment Name * E-mail * Website
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