Is there any restriction in contribution to EPF for a person who is in full-time employment, aged above 60?

I am 66. I have been working since the age of 20 and have changed jobs thrice. I recently completed 45 years of active service and continue to work for a private company on a full-time basis. My monthly PF contribution is continuing since my first job and even now I am contributing to PF. Is there any restriction in contribution to PF for a person who is in full-time employment and aged above 60?

Prableen Bajpai,Founder FinFix® Research & Analytics replies: According to EPFO guidelines, an employee shall cease to be the member of Pension Fund from the date of attaining 58 years of age or from the date of vesting admissible benefits under the scheme, whichever is earlier. However, in cases of continuation of service, the employer needs to pay the Employees’ Provident Fund Contribution till the date of his or her leaving the service, irrespective of the age of the member. Overall, your contribution can continue if you are a full-time employee on a company’s payroll. Employees who cease to be EPS (pension) members (as defined above) will get employer’s 8.33% contribution in PF.

I have a few shares of two big companies in physical form. I have not been getting the dividend for decades. My correspondence with the companies have not helped. What should I do?

Vikash Jain, Co-founder, Share Samadhan Pvt Ltd replies: To trace the investments, you need to have the folio number or any communication from the company. But if you do not have any such details then you need to communicate with the company mentioning the investor’s details like name, father’s name, address etc. The company will search in its records and if it is available, they will communicate it to you. If you do not have any details, you could search the Unclaimed Investment database maintained by companies and the government authority. You can also file a complaint with the Sebi Complaint Redress System.

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