Sir,I have worked in private company from March 2011 to Sep 2021 where my pf amount was deducted.l have completed 10 years 5 months service and resigned but i have got it transferred to the new company where I have joined. I want to get pension after 60 years what should I do ?
Ans: According to the EPS rules, you are eligible to receive a monthly pension after you reach the age of 58 years, or after early retirement at 50 years. However, if you defer the pension for 2 years (until you reach the age of 60 years), you will be eligible to receive the pension at an additional rate of 4% per year.
Since you have completed more than 10 years of service and transferred your EPS amount to the new company, you do not need to withdraw the EPS amount. You can continue to contribute to the EPS scheme until you retire or reach the age of 58 years, whichever is earlier. The accumulated corpus in EPF can be with withdrawn in one go at the time of retirement