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Employees' Provident Fund Organisation: Has this question ever come to your mind that those who withdraw money from PF also get pension on retirement? If you are withdrawing money from PF, will you get pension after retirement? What are the rules related to this? Actually the answer to this question is yes... If you are withdrawing money from PF, then also the employees coming under the purview of Employees Provident Fund Organization (EPFO) get pension on retirement. However, for this the employee has to work for at least 10 years.

If a person claims pension before 58 years, then...

12 percent of the basic salary has to be deposited in EPFO ​​​​every month. Out of this, 8.3% is deposited in the PF account and 3.67% is deposited in the EPF scheme. The amount deposited in the EPF scheme is given as pension after maturity. After the age of 50, the EPF account holder can claim for pension.

If a person claims pension before 58 years, then there will be a deduction of 4% every year. After retirement, 75% of the amount deposited in the EPF fund is received as a lump sum and 25% is received every month as pension. At the same time, the formula for calculating pension is- Average salary x pensionable service / 70.

Entitled to get pension after working for 10 years

Let us tell you that if the employee contributes to EPFO, then he becomes entitled to get pension after working for 10 years. However, he gets this pension after completing the age of 58 years. Pension can be taken even after 50 years, but pension will be available with deduction.