Doubts on EPF to higher pension

In the Yesterday’s Meeting with EPFO, some body asked some doubts about EPF to EPFO Team . The followings are the questios and answers on doubts.

Q1. BSNL Employees had not exercised any Joint Declration so far to choose the pension, So Can we do it now and when the option form can be expected?Ans:- EPFO fully aware about the issue pertaining to BSNL. There will be one more chance for BSNL to File Joint applicaiton for EPF Pension. URL will be published soon. As of now EPFO EKM has no information about the date of publish of URL.

Q2. What is the minimum allowable break in service for counting different tenures for assessing Pensionable Service Period?

Ans:- When switching the Job, if the Pension Account is not settled and the Account is transferred to new Account through required application, Then at the time of Superannuation, EPFO will Count the number of total days for which Pension contribution came for the Employee from the employer, the total days will be converted to Years and it will be taken for calculating Pensionable Service.

Q3. Pension to be given to Nominees?

Ans:- Family pension starts from the very next day of the expiry of the member. As per the existing Rule, the Monthly Pension will be calculated as per the existing Rule based on last pay as per the Pension calculation table followed by EPFO then 50% of that amount will be fixed as Monthly Pension to the spouse. Two surviving children will get 25% of the amount simultaneously along with the spouse who take 50% pension. Once any of the child become 25 years, third child will get 25%. If Spouse dies, the children under 25 years will be treated as orphan and they will get 75% of the pension till 25 years. If it is a disabled child, the child will get 75% for the life time.

Q4. Can we withdraw the amount from Pension Fund?

Ans:- Normally those who completed Pensionable Service of 10 years cannot withdraw the amount from Pension Fund, But for others who has less than 10 years service can be withdraw the amount from Pension Fund.

Q5. What is the minimum Pensionable Age?

Ans:- 50 years is the minimum pensionable Age.

Q6. If a higher Pension optee lost job and getting into new job with a lower salary, What will be his pension?

Ans:- When we switch from Higher Scale to a Lower scale job in a different company and the new company is already a registered employer with EPFO and giving pension contribution, our pension fund will be continuing and pension will be calculated based on the last 60 months of salary. So we have to carefully choose a job if ready to continue with pension option. As per EPFO, if we are continuing the job with other companies, there will not be any option for exit from Pension. So better option is if we are leaving from a better salaried job and if we crossed 50 years, start EPF pension. Then the person will become an exclusive employee, he need not to opt for Pension again for next job.

Q7:- What is the mode of calculation for paying the deficit amount to Pension fund?

Ans:- Regional EPFO has no idea about such calculation now, as per the practice, it is the deficit amount after the present nominal pension contribution is deducted from 8.33% of Actual Basic+DA with Compound interest time to time given for EPF.

Q8:- Anomaly in EPFO Online Portal regarding Date of Entry to Service?

Ans:- If the Funds of old account is transferred to new Account, then normally Service history also will be transferred, there will not be any issue. In the Ledger it will be ok, Online Portal is made only in 2010 and BSNL account is merged to Circle Office only in 1.09.2014, that is why it is shown as that date in Online Portal, but in the Ledger Register with EPFO it will be correct date of entry mentioned in the initial Account with EPFO. We can verify it personally through RTI once the present busy process is over.

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