Do you have a PF account? Just do this.. you will get more money.

EPS is a pension scheme run by EPFO. Every month, 12 percent of the employee's basic salary + DA is deposited in the PF account. If EPFO members choose to claim their pension at age 60, they will receive additional money-rag

Employees Provident Fund Organization (EPFO) provides pensions to its shareholders. The amount of pension received by a partner depends on the contribution and age of the partner. EPFO starts disbursing pension once a subscriber attains the age of 58 years and contributes to EPFO for 10 years. But if a subscriber gets a pension from EPFO at the age of 60 instead of 58, he gets more pension. If you start drawing a pension at age 60 instead of 58, you will get 8 percent more as a pension than the normal pension.

As per EPFO rules, any employee who contributes to EPFO and completes 10 years of service is eligible for a pension. If the total service period is less than 10 years, the amount deposited for pension can be withdrawn anytime in between. Employees who have completed 10 years or more of service are paid pension from EPFO after retirement i.e. from the age of 58 years. EPFO allows subscribers to get a higher pension at the age of 60. Shareholders can deposit money in the EPFO pension fund till the age of 60 years.

EPFO subscribers can get a pension even after completing 50 years of age and contributing for 10 years. You can get an early pension only if you have completed 10 years of service and your age is between 50 and 58 years. But in this, you will get less pension. If you withdraw before age 58, your pension will be reduced by 4 percent each year. Suppose a person withdraws a monthly pension at the age of 56.

Then he will get only 92 percent (100% - 2×4) of the basic pension. If you complete 10 years of service and your age is less than 50 years, you cannot claim a pension. In such a scenario, after leaving the job, you will get only the funds deposited in EPF. Pension is available from the age of 58 years

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