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Why is Form 10C important?
by Vipul Mishra Web DesignerEmployees generally have a pension fund
that is kept aside for retirement age. However, if the employment changes, the
employee can forward the same account or use the same account for securing
their pension. However, if the employee doesn’t find a new job, the employee is
eligible for withdrawing the funds. While this sounds straightforward you
should definitely take the time to understand different aspects before you rush
to form 10c
download. So let's understand form 10 and its different rules in
detail.
Who is eligible to apply for using the form
10 C
There are three different brackets for
eligibility in order to apply for using form 10 C:
Eligibility Criteria one:
●
An employee
has left the job before completing 10 years of service
●
The
employee has obtained 58 years of age before completing 10 years of service
regardless of whether they left the service or are in service
Eligibility criteria two:
●
The
employee has completed 10 years of service however, the employee has not yet
attained 50 years of age while applying for the application
●
The
employee is more than 50 years of age and less than 58 years of age but is not
interested in a pension at a decreased
rate.
Eligibility Criteria three:
●
If the
person appoints a family member or a nominee or a legal heir and died after
having completed 10 years of service and attaining the age of 58.
What kind of benefits do employees who fill
in form 10 C get?
●
People who
fall in eligibility criteria 1, 2 or 3 can apply for withdrawal benefits with a simple epf form 10c
online.
●
People who
fall in eligibility criteria 2 are eligible for Scheme Certificate. However, if a reduced
pension is acceptable then Form 10D is
necessary.
●
People who quit employment due to permanent
disablement can get a disablement pension
through form 10D.
What are the benefits of a Scheme
Certificate?
Some of the most essential benefits of the
scheme certificate are as follows:
●
The job
tenure with the previous employer is taken into consideration before taking on
a job in a new company
●
If the
person doesn’t take up new employment and dies before 58 years of age then his
or her family will be eligible for getting a family pension in case. However, if he does survive then he
is eligible for getting withdrawal benefits.
What is all information necessary in form
10C?
If you are filling in form 10C then you
would need the following information:
●
Name
●
UAN or
Pension Number
●
Aadhaar
Number
●
Father’s
name or husband’s name
●
Date of
Birth
●
Date of
Joining and the date of leaving
●
PAN
●
Reason for
leaving
●
Address
●
Complete
bank account details
If the application form was downloaded,
then an attestation from any of the following is needed:
●
President
of Village Union
●
Magistrate
●
Post/Sub-Post
Master
●
President
of village Panchayath
●
Chairman
●
Member of
Parliament
●
Legislative
Assembly
●
Member of
Central Board of Trustees
●
Head of a
recognized educational institution
●
Manager of
a bank
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About Vipul Mishra 
Web Designer
0 connections, 0 recommendations, 9 honor points.Joined APSense since, December 8th, 2022, From Delhi, India.
Created on Dec 8th 2022 05:22. Viewed 156 times.
