EPS Account: If your service is less than 10 years, then you can withdraw the entire amount of EPS at once. But as soon as your service is 10 years or more, the entire amount of EPS cannot be withdrawn.
EPS pension: Members of the Employees’ Provident Fund Organization (EPFO) often ask questions on social media platforms like ‘X’. These questions are usually on withdrawal and transfer of EPF funds, pension eligibility under the Employees’ Pension Scheme (EPS), and other PF-related matters. At the same time, EPFO issues clarifications from time to time to clear the doubts of its members.
Some common questions asked by members
- How will I get my EPF and EPS money?
- When will the pension start?
- Will interest continue to be added to my account even after retirement?
It is important to know the answers to these questions so that you can manage your retirement fund and pension matters properly.
Easy and direct answers to questions
Here are easy and direct answers to these questions. Especially if you are retiring soon, then this information will be very useful for you.
Can the entire amount of EPS be withdrawn after completion of 10 years of service?
If your service is less than 10 years, then you can withdraw the entire amount of EPS at once. But as soon as your service becomes 10 years or more, the entire amount of EPS cannot be withdrawn. Now you become entitled to monthly pension, which starts getting on completion of 58 years of age.
What to do to get pension?
You have to fill Form 10C and Composite Claim Form (Aadhaar or Non-Aadhaar). Also, a pension scheme certificate has to be obtained. This certificate helps in transferring pension in future when you change jobs.
Want pension immediately after retirement? Form 10D is important
If you want to start pension immediately after retirement, then you have to fill Form 10D. Note that this form cannot be filled online. You have to go to your nearest EPFO office and submit it physically. Keep all the documents ready in advance so that the process is not delayed.
When should Form 10D be submitted?
As soon as your retirement date arrives, immediately submit Form 10D. Since the process may take a few weeks, it would be wise to prepare in advance.
Will you get interest on EPF even after retirement?
The good news is that even after retirement, your EPF account will continue to earn interest unless you withdraw the money.
For example, if you retire on June 30, 2025, you can earn interest for 3 years, i.e. till June 2028, as long as no money is deposited or withdrawn during this period.
After 3 years, the account may become inactive and interest may stop coming.
What to do if the time for withdrawing EPF has passed?
If you have not operated the account for 3 years, you can still claim EPF. In most cases this work can be done online. But if the account has become inactive or is linked to the old KYC link, then you will have to go to the EPFO office and submit the form.
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