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EPFO Pension Rules: As a member of the Employees' Provident Fund Organization (EPFO), many questions must be coming to your mind, such as how much pension will be received under the Employees' Pension Scheme (EPS), how many years of service is necessary for pension, or when will the pension money be received.

How can a pension be received before retirement, and what are the balance, withdrawal, and transfer methods of EPF funds? You may also want to know this. According to the rules of EPFO, you can get answers to all these questions. Let us know today in this news below-

Pension will be available after working for 10 years-

First of all, know that if you have worked for 10 years, then you are entitled to a pension. According to the rules of EPFO, if any employee contributes to EPF, then after working for 10 years, they become entitled to get a pension. However, he gets this pension after completing 58 years of age.

What will happen if 10 years of service are not completed?

If 10 years of service are not completed, then he can withdraw from the pension fund. EPFO ​​has its own rules regarding this. That is, as soon as your service becomes 10 years or more, the entire amount of EPS cannot be withdrawn. Now you become entitled to a monthly pension, which starts getting on completion of 58 years of age.

How to get a pension before the age of 58?

EPFO members can claim pension at the age of 50 years. But if the age is one year less than 58 years, then there will be a 4 percent deduction in the pension. With every passing year, the four percent deduction will increase. If you want to take a pension at 55 years, then this deduction will be 12 percent, and if you want to take it at 52 years, then there will be a 24 percent deduction. If you are below 50 years, then you will not get a pension.

What if you left the job before 50 years?

If you leave your job before 50 years, you will not get a pension immediately. You will start getting a pension only when you are 58 years old. That is, the money in your pension fund will not go to waste.

Pension does not start automatically, do this?

You will have to fill out Form 10C and the Composite Claim Form (Aadhaar or Non-Aadhaar). Also, a pension scheme certificate will have to be obtained. This certificate helps in transferring your pension in the future when you change jobs.

Want a pension immediately after retirement? Form 10D is necessary-
If you want to start a pension immediately after retirement, then you will have to fill out Form 10D. Note that this form cannot be filled online. You will have to go to your nearest EPFO ​​office and submit it physically. Keep all the documents ready in advance so that there is no delay in the process.

Make sure to get pension certificate-
You can choose another option even after 10 years of leaving your old job: Pension Scheme Certificate. If you want to work again in the future, do not forget to take this certificate. This will help you merge your previous pension account into the new one when you join a new job, thereby maintaining the continuity of your pension.

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