EPFO Pension Rules: How much money should you withdraw from EPFO ​​before you get pension? know rules

EPFO Pension Rules: If a PF account holder withdraws more than a fixed limit, he does not get pension. Let us tell you what are the rules of EPFO ​​regarding pension. How much money should be withdrawn to not get pension.

EPFO Pension Rules: All the employed people in India have PF accounts. In India, PF accounts are managed by the Employee Provident Funds Organization i.e. EPFO. These accounts are also seen as a kind of savings scheme. Every month 12% of the employee’s salary is deposited in this account. At the same time, the same amount is deposited by the company as well.

You can use the money deposited in the PF account whenever you need it. Along with this, if you contribute to EPFO ​​for more than 10 years, then you also become eligible to get pension. But if you withdraw more than a fixed limit from it, then you do not get pension. Let us tell you what are the rules of EPFO ​​regarding pension, how much money is withdrawn to not get pension.

Pension is not available on withdrawing the entire amount

12% of the salary is deposited in the account of the PF account holder. The same amount is deposited in their PF account by the employer i.e. the company. The company contributes 12%. Out of that, 8.33% goes to the pension fund i.e. EPS of the PF account holder. And the remaining 3.67% amount goes to the PF account. If any PF account holder contributes to the PF account for 10 years.

Then he becomes entitled to get pension. In such a situation, if he leaves the job or for any reason he withdraws the entire amount present in the PF account and his EPS fund remains intact, then he gets pension. But if he withdraws the entire amount of EPS along with the money of the PF account, then he does not get pension.

Which PF account holders get pension?

According to the rules set by the Employees’ Provident Fund Organization (EPFO), if any employee deposits money in his PF account for 10 years, then he becomes eligible to get pension. That employee can claim pension after the age of 50 years.

Related Articles:-