Employee Pension Scheme

This query is : Resolved

CA AJAY KUMAR AGRAWAL (Querist)
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07 August 2024 Hi all,

One of my friend did job in few companies. EPF contribution (both side) was successfully transferred to my last EPF Account & it shows balance of EPF & EPS also. Side by side my other 4 EPF Accounts showing only EPS (Pension) balances (may be only PF amount was transferred & not the Pension balance).
Total service period (as shown on Unified portal) is 6.50 years, my present age is 55 years and last contribution was in Aug 2021. My query is :-

1. Up to what period Interest will be paid on above EPF balance?
2. How to transfer Pension balance (showing in other 4 accounts) online / offline?
3. When I withdraw my final PF balance, then how to withdraw the Pension balance?

Thanks in advance.

Asha Kanta Sharma online

Asha Kanta Sharma online

(Expert)
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12 August 2025 1. Interest on EPF balance — up to what period is it paid?
Interest on EPF contribution (both employer + employee shares) is credited every year for the financial year ending March 31.
Interest is payable on the actual balance lying in the EPF account on the last day of the financial year.
Interest is credited up to the date of exit (date of final settlement or withdrawal).
So, if the final settlement was in Aug 2021, interest would be credited up to 31 March 2021.
If the account is still active and contribution stopped in Aug 2021, interest will continue to accrue until the account is withdrawn or settled.
2. How to transfer Pension (EPS) balances online or offline?
EPS pension balance is linked to your service period and pensionable salary.
When you change jobs and have multiple EPF accounts, only your EPF balance (employee + employer share) is transferred automatically when you request transfer.
The EPS portion (employer contribution towards pension) is recorded separately and can only be combined by the EPFO.
Online transfer of EPS balances is not done separately by members.
To consolidate your EPS accounts:
File a transfer claim (Form 13) for EPF transfer through the Unified Portal or offline with your current employer.
EPFO merges EPS service periods and pension balances automatically.
For already settled EPS accounts (if EPF was withdrawn), EPS cannot be transferred.
If you want to consolidate past service for EPS pension calculation, you may apply for ‘Scheme Certificate’ (Form 10C) to get proof of previous service for pension eligibility.
3. When withdrawing final PF balance, how to withdraw Pension balance?
EPS (Pension) amount is not paid out as a lump sum except under certain conditions like less than 10 years of service or retirement age.
For pension withdrawal:
If total service is less than 10 years, you can withdraw the pension amount accumulated in EPS as a lump sum by submitting Form 10C (Withdrawal Benefit).
If service is 10 years or more, you are eligible for monthly pension (deferred pension).
If you want to withdraw PF and EPS together, you should:
Submit Form 19 (Final PF Settlement) for EPF balance.
Submit Form 10C for EPS withdrawal (if applicable).
Since your friend has 6.5 years service, EPS lump sum withdrawal is possible.
After age 58, pension can be availed as monthly pension (deferred pension).

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