1. #1
    Unregistered

    What is the procedure of withdrawal of pension fund?

    I am working in a software company. I have a deduction of 12% of my salary per month. I want to know that can I withdraw my pension fund before retirement as I have worked for 10 years for this company.

  2. #2
    Ashok Array
    Join Date
    Jul 2012
    Posts
    2,293

    Re: What is the procedure of withdrawal of pension fund?

    Quote Originally Posted by Unregistered View Post
    I am working in a software company. I have a deduction of 12% of my salary per month. I want to know that can I withdraw my pension fund before retirement as I have worked for 10 years for this company.
    Dear Aspirant,

    As per PF rules you are allowed to withdraw your pension fund of EPF contribution if your length of service is less than 10 years.Once your length of service reaches 10 years & more,you are entitle to get the pension.

    As you might be knowing that 12% of your basic is deducted per month from your salary & the same % of amount is paid by the employer.The employees' contribution goes to EPF & out of 12% of the employer's contribution 8.33% goes to EPS i.e employees pension scheme & the remaining 3.67% of the employer's contribution goes to EPF.The interest is paid to the amount of EPF & not on EPS

    After completion of 58 years of age,you will be getting the pension on the EPS corpus per month maximum up to Rs 3250 per month after the death of the employees,the nominee of the employee gets the pension.

    You will be getting the lump sum amount of EPF with interest at the time of retirement.

    Thanks.

    Ashok

  3. #3
    Unregistered

    Re: What is the procedure of withdrawal of pension fund?

    I have completed 10 years of service in same company. I want to close and withdraw the pension fund now (I am at 36 years) old and not working in any company.

    My Form 10 C got rejected as I have complete above 10 years of service and I am eligible for Pension after 58 years. I DO NOT want to avail pension fund and close this account.

    Please provide me the procedure to withdraw the EPS.

    Thanks in advance

+ Reply to Thread

Similar Threads

  1. Replies: 4
    Last Post: 14-08-2013, 10:22 AM
  2. What procedure to follow for claiming the ex-spouse pension from Navy?
    By Unregistered in forum Professional Discussions
    Replies: 1
    Last Post: 13-02-2013, 05:50 PM
  3. Replies: 2
    Last Post: 13-12-2012, 06:43 PM
  4. Replies: 9
    Last Post: 30-10-2012, 09:33 AM
  5. Replies: 2
    Last Post: 05-10-2012, 04:45 PM