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Rejoining Workforce at 65: Can I Opt Out of PF?

Milind

Milind Vadjikar  | Answer  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Apr 08, 2025

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more
Rupayan Question by Rupayan on Mar 15, 2025Hindi
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Hello, I am presently 65 years old and currently retired from service for the last 5 years. At the time of retirement I have withdrawn the entire balance from the PF and EPS accounts. I have been offered a full time employment position once again by a new company which is different from the last company where I was working, Can I opt out of the PF scheme when I join this new company ??

Ans: Hello;

Opting out of EPF is not possible.

Ensure that entire 12% of employer contribution goes towards EPF since EPS is out of coverage now.

Also ensure proper nomination.

Best wishes;
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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