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Milind

Milind Vadjikar  | Answer  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on May 15, 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
ahmed Question by ahmed on May 14, 2025
Money

Helo sir, I am 60 years old and have been working in a private institution in hyderabad for 9.7 years. Im.also contributing to my epf account since then. I retired on superannuation @ 58 in August 2023 when i had completed just 7.5 years of service. As im 60 now and completed 9.7 years of service this month, am i eligible for monthly pension? I submitted firm10D online few days ago, but it has been rejected by EPFO stating that im not eligble for monthly pension and i was asked to submit form 10C. Kindly advise.

Ans: Hello;

Eligibility for EPS pension is atleast 10 years of continuous service with continuous contribution towards EPF &EPS during this period.

There is not even one day leniency allowed for this rule so sorry to say but you are not eligible for EPS pension.

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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R P

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HR, Workspace Expert - Answered on Feb 29, 2024

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Sir thank you for your prompt reply. I have the following queries: 1. As I have completed 10 years of service, can I still withdraw complete EPS amount. 2. For getting pension immediately after retirement as I understand I need to fill form 10D. Can this form be filed online also. 3. After I retire when should I submit the form 10D to EPFO Office to start getting pension. 4. I would be retiring on 30th April 2024 so for how many years can I earn interest on my EPF Account without withdrawing it and what would be my last date by which I should apply for the claim. 5. While applying for the EPF Account after the maximum extended period possible can I apply for the claim online. Thanking you in advance.
Ans: Certainly! Let’s address your queries regarding the Employees’ Pension Scheme (EPS) and the process for pension withdrawal:

EPS Withdrawal After 10 Years of Service:
If you have completed less than 10 years of service or have attained the age of 58 years (whichever is earlier), you are eligible for lump-sum withdrawal from your EPS account.
However, if you have completed 10 or more years of service, you cannot withdraw the EPS amount. Instead, you can opt for a Scheme Certificate by filling Form 10C along with the Composite Claim Form (Aadhaar or Non-Aadhaar).
The Scheme Certificate allows you to transfer your pension benefits if you join another employment later.
Pension will be paid to you after attaining the age of 58 years123.
Filing Form 10D for Immediate Pension:
To receive pension immediately after retirement, you need to fill Form 10D.
Unfortunately, Form 10D cannot be filed online. You’ll need to submit it physically to the EPFO Office.
Submission of Form 10D:
After your retirement, submit Form 10D to the EPFO Office to initiate the process of receiving pension.
Ensure that you complete all necessary documentation accurately.
Interest on EPF Account:
Until you decide to withdraw your EPF amount, it continues to earn interest.
As of now, the interest rate is determined by the EPFO and is subject to change periodically.
Since you are retiring on 30th April 2024, you can continue earning interest until you decide to claim your EPF.
Claiming EPF Account After Maximum Extended Period:
After the maximum extended period (usually 3 years of inactivity), you can still apply for EPF withdrawal.
While the process may not be available online, you can submit the necessary forms physically to the EPFO Office.
Remember to consult with your employer or the EPFO directly for any specific details related to your individual case. Best wishes for your retirement!

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Nayagam P

Nayagam P P  |7754 Answers  |Ask -

Career Counsellor - Answered on Jul 03, 2025

Career
Sir kindly suggest me the to choose option in scaler school of technology ,chitkara university, graphic era and newton school of technology Kindly arrange in high to low prefrence
Ans: Sunil, Scaler School of Technology, launched in 2023, offers a four-year B.Sc+M.Sc in CS & AI designed by industry leaders, featuring mandatory one-year paid internships and polished AC classrooms with an innovation lab, charging a total fee of ?16.25 Lakh; however, it is not recognized by UGC/AICTE and relies on Scaler Academy’s placement record of 1,300 alumni at an average package of ?20 LPA. Chitkara University (estd 2010) is UGC/AICTE-approved, NAAC A+ and ranked #94 in NIRF 2024, with a 93.8% B.Tech placement rate, a median package of ?9.5 LPA, and top recruiters including Infosys, Amazon, and Deloitte. Graphic Era University (estd 1996) holds NAAC A+ accreditation, engages 250+ recruiters yearly, records a highest package of ?54 LPA and a median of ?6.42 LPA for B.Tech, and provides state-of-the-art labs with PhD faculty. Newton School of Technology (estd 2023) partners with 2,000+ companies, achieves a 98% placement rate with average packages of ?12 LPA and early internship exposure, but lacks formal accreditation and is building its campus ecosystem.

Recommendation: For a fully recognized engineering degree with sustained placement outcomes and strong accreditation, recommendation is Chitkara University. Next in preference is Graphic Era University, offering extensive recruiter engagement and impressive top packages within an established university setting. Newton School of Technology is third, delivering intensive placement support and early paid internships but lacks formal UGC/AICTE accreditation. Scaler School of Technology ranks lowest due to its non-accredited B.Sc+M.Sc model, high fees, and reliance on parent-company placement data. All the BEST for the Admission & a Prosperous Future!

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