EPFO: If you want to get pension after retirement, then definitely know about this certificate…
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EPFO Pension
If you work in the organized sector, then you must be making EPF contribution every month. 12% of your basic salary and DA goes towards EPF and an equal amount is contributed by the company.
But the employer’s amount is divided into two parts. 8.33% goes to the Employees’ Pension Scheme (EPS) and the remaining 3.67% goes to the EPF account. If you have been contributing to EPFO for 10 years or more, then the EPS money is given to you as pension at the age of retirement. If you have contributed for less than 10 years, you can withdraw your pension money at the time of full and final settlement.
This is the matter of your EPF contribution, but now the question arises that where is the need for scheme certificate in all this? As per the EPF rules, if you have contributed to EPFO for more than 10 years, you will have to provide the scheme certificate to the subscribers to get the pension at the age of retirement. Let us tell you everything in detail.
What is planning certificate?
The scheme certificate is like a policy for pension, as it allows you to transfer pension if you change jobs. You must have this certificate to claim pension. However, if you have contributed to PF for less than 10 years, you can still take the scheme certificate to continue with the pension service, but it is not mandatory.
When is the planning certificate useful?
The rule states that whenever a PF subscriber changes his job, he should get the PF transferred to the new company on the EPFO portal. But suppose after changing the job his new company is not in the purview of EPF then he can submit the record of period of service through scheme certificate to get pension later. At the same time, those who have contributed to EPF for 10 years and do not intend to work further, can also take the scheme certificate to get pension at the age of 50-58 years. This will serve as a proof in your pension claim.
How to get scheme certificate
You need to fill Form 10C to get the scheme certificate. You can download this form from the EPFO website and fill it and submit it to the nearest EPFO office. Along with this you will need some documents like date of birth certificate, canceled cheque, name and details of employee’s children, death certificate in case of death of employee, succession certificate if successor is submitting the form and one rupee stamp stamp . Price etc. may have to be deposited.
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