Epf withdrawal before 10 years of service
MOHAMED FIROZ
(Querist) 03 July 2013
This query is : Resolved
A STAFF OF OUR SCHOOL IS NEARING 10 YEARS OF SERVICE UNDER EPF SCHEME. SHE WANTS TO LEAVE THE SCHOOL AND WITHDRAW HER EPF AMOUNT.
SHE SAYS AFTER COMPLETION OF 10 YEARS SHE MAY NOT GET FULL AMOUNT.
HER SALARY IS RS. 15000 AND HER CONTRIBUTION IS RS.780 EVERY MONTH.
WILL THERE BE ANY TRANSFER OF HER EPF TO EPS AFTER COMPLETION OF 10 YEARS? WHAT WILL BE HER PENSION AMOUNT AFTER COMPLETION OF 10 YEARS?
IS SHE RIGHT IN HER DECISION TO QUIT BEFORE TEN YEARS?. WILL SHE GET FULL AMOUNT OF EPF AFTER 10 YEARS?
MOHAMED FIROZ
Raj Kumar Makkad
(Expert) 03 July 2013
She shall definitely get full amount even if she leaves service prior to 19 years but she shall lose her right to pension in that event.
MOHAMED FIROZ
(Querist) 03 July 2013
DOES IT MAKE ANY DIFFERENCE TO GETTING FULL AMOUNT OF EPF EVEN IF YOU LEAVE A JOB BEFORE 10 YEARS OR AFTER 10 YEARS OF SERVICE.
IS THERE ANY TRANSFER OF EPF TO EPS AFTER 10 YEARS OF SERVICE. ANOTHER STAFF WHO CLOSED HER EPF ACCOUNT AFTER 10 YEARS OF SERVICE GOT ONLY HALF OF HER EPF AMOUNT AND SAYS THAT EPFO PEOPLE TOLD HER THAT THE BALANCE MAY BE ADDED IN HER EPS AND THAT HER PENSION AMOUNT MAY BE INCREASED. IS SHE RIGHT ?
Raj Kumar Makkad
(Expert) 03 July 2013
Yes. It makes difference. The reduced pension is available if one leaves the scheme on completion of 10 years whereas such benefit is not available who leave this scheme before 10 years.
There is facility of transfer of EPF & EPS if the member desirous to do so. Even the Account no. can be maintained the same.
Rajendra K Goyal
(Expert) 04 July 2013
Agreed with Expert raj kumar makkad ji, nothing more to add.
