What is Form 10C?
Form 10c is a document that must be submitted when claiming benefits from the employee pension scheme (EPS). Every month some amount of money is contributed by the employer to your PF account. This contribution made by the employer is divided into two parts- EPF funds and EPS funds. Form 10c is submitted to withdraw the money from the Employee pension scheme (EPS) funds.
Who can apply for Form 10C?
All participants of the EPS plan who meet the following conditions are eligible to apply:
- An individual who has left a job before completing ten years of service and has reached the age of 58 before completing ten years of service.
- An individual who has completed ten years of service but has not yet reached the age of 50, or a member who is between the ages of 50 and 58 and refuses to accept a decreased pension.
- Relatives of a person who died before completing ten years of service and was above 58 years old at the time.