Pension related query
anubhuti
(Querist) 14 October 2014
This query is : Resolved
hi ,
my dad is an instructor in vocational sector,at a MCVC college in maharashtra. the course is granted. he has completed 53 years of age and approx 11 years of service. he wants to take voluntary retirement in may 2015 ...he joined the the service in december 2003.
can you please tell if he is eligible for pension...i searched a lot on web but no site gives the rules and eligibility criteria for VRS for MCVC employees.
please help.
we are kinda dependent on your reply.
thanks.
Devajyoti Barman
(Expert) 14 October 2014
VRS EMPLOYEES ARE ELIGIBLE FOR PENSION IN CERTAIN ORGANISATIONS.
ajay sethi
(Expert) 14 October 2014
you would need 20 years of service to be eligible for pension . better make inquires with organisation your father is working is working in as to his eligibility for pension
Kumar Doab
(Expert) 14 October 2014
Download service rules, pension rules, VRS policy of the establishment.
This should normally clearly state the entitlement, non entitlement.
Before he applies he should discuss in person with leaders of employee’s associations, and his labor Law Consultant/Service lawyer.
anubhuti
(Querist) 15 October 2014
@sudhir kumar
no it is a private college for vocational training(11th,12th) in civil,electrical,horticulture in nagpur district.
my father is in civil dept.
anubhuti
(Querist) 15 October 2014
@kumar doab from where shd i download?
there is no official site for maharashtra govt in this regard. if you know a site, please share the link
anubhuti
(Querist) 15 October 2014
@ajay sethi
yes..i read that, but according to another alternate condition, an employee above 50 years age can also apply for VRS and be entitled for pension.. that way my father qualifies! i am just not sure whether this rule is applicable to vocational secondary education staff..
pls help
Sudhir Kumar, Advocate
(Expert) 15 October 2014
It it is private college then the pension may be provided by EPFO. please check website of EPFO www.epfindia.com. To download the provisions as suggested by Mr Kumar Doab.
Sudhir Kumar, Advocate
(Expert) 15 October 2014
Further the thread is getting confused on the terms "VR" and "VRS"
"VRS" is a scheme where the business of employer goes down an in order to avoid retrenchment the employer offers a golden handshake for those who are willing to go out.
"VR" is an option of any employee with eligible service [i.e. 20 years in Govt] to quit with terminal benefits, despite the fact that the organisation is running well.
Rajendra K Goyal
(Expert) 15 October 2014
Confirm from the departmental rules. Generally private departments does not provide pension facility.
Sudhir Kumar, Advocate
(Expert) 16 October 2014
I mostly enjoy privilege to agree with Mr Jaggarao and Mr RK Goyal. But in this case I have different views.
EPFO deposits are compulsory for private educational institutions and they also provide pension.
the eligibility for this pension is not same as that of Govt servant. That is the reasons the author is saying that
"an employee above 50 years age can also apply for VRS and be entitled for pension"
In Govt sector age is irrelevant for seeking VR only thins relevant is complete of 20 years of pensionable service.
malipeddi jaggarao
(Expert) 16 October 2014
Sir Sudhir Kumarji, EPF is different and pension is different. EPF is the employer's share of Provident Fund and the out-going employee gets his contribution and contribution of employers in a lump sum. Pension is different. Kindly enlighten me if there is any such provision of pension in the private educational institutions.
Kumar Doab
(Expert) 17 October 2014
He has worked for 9Y6M and is thus eligible for pension from EPFO.
The pension calculators are also available.
The pension and calculation of pension is explained at website of EPFO.
The service rules of employer are to be provided by employer. Usually these are kept at some shared portal by employer or HR or Managing Committee or principle should provide the printed version.
The Board/Univ. with which the Inst. is affiliated also frames service rules and such rules are available at the website of board/univ.
State Education Act has also provisions for service rules and those as in Maharashtra may be referred.
Get in touch with Teacher’s /union’s Leaders and they can guide you to all rules and details.
Usually the association also maintain well nourished websites……………………..e.g.:
http://myedudel.blogspot.in/p/ltc.html
Sudhir Kumar, Advocate
(Expert) 17 October 2014
@ Mr Mallapadi Jaggaro
Dear sir, the deposits in EPFO are parially diverted to pension fund. EPFO has pension functions as well.
you can visit www.epfindia.com
Sudhir Kumar, Advocate
(Expert) 17 October 2014
agreeing with Mr Kumar Doab, I will modify that it is not merely sufficient if he has worked for 9Y6M rather if his EPF contributions have been deposited for the said period then he eligible for pension from EPFO.
T. Kalaiselvan, Advocate
(Expert) 19 October 2014
The author's query has been properly addressed, however, what makes him to ask on behalf of his father, his father may be very well aware of the provisions since he is the person employed and he might have clarified the issue with his department or colleagues.
