EPFO Pension Rules: The number of employed people in India. Everyone has PF accounts. PF accounts in India are managed by Provident Fund Org.zation i.e. epfo Done through . These accounts are also seen as a kind of savings plan. Every month 12% of the employee’s salary is deposited in this account. So the same amount is also deposited by the company.
You can use the money deposited in your PF account anytime as per your need. Apart from this, if you contribute to EPFO for more than 10 years. Then you also become eligible for pension. But if you withdraw more money from it than a certain limit then you do not get pension. Let us tell you what are the rules of EPFO regarding pension, pension is not available after how much money is withdrawn.
12 percent of the salary is deposited in the account of PF account holders. The same amount is deposited by the employer in his PF account. In which the company’s contribution is 12 percent. Out of this, 8.33 percent amount goes to the pension fund i.e. EPS of the PF account holder and the remaining 3.67 percent amount goes to the PF account. If a PF account holder contributes to the PF account for 10 years.
Then he becomes eligible for pension. In such a situation, if he loses his job or for some reason he withdraws all the money from his 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 from the PF account. Then he does not get pension. As per the norms set by the Employees Provident Fund Org.zation i.e. EPFO, if an employee deposits money in the PF account for 10 years. Then he becomes entitled for pension. That employee can claim pension after the age of 50 years.
