The Employees' Provident Fund Organisation (EPFO) ensures retirement-related benefits for employees in India's formal sector through the Employee Pension Scheme (EPS). According to EPFO guidelines, employees and employers contribute 12 percent of basic pay to provident funds, with 8.33 percent of employer contributions specifically allocated to pension funds. Form 10C serves as the application for accessing these pension funds or acquiring a Scheme Certificate, which maintains records of pensionable service that can be carried forward when employees change jobs. Members must not confuse Form 10C with Form 10D, which is used to start monthly pension under EPS. Once the pensioner passes away, the recurring income goes to eligible beneficiaries, which may be the spouse or children.
The Centre approved raising the wage ceiling eligibility for Employees Provident Fund (EPF) coverage to ₹15,000 on September 16, according to Union Information and Broadcasting Minister Ashwini Vaishnaw. This represents the first such hike in 12 years after the wage ceiling was set at ₹10,000 in 2014. With both employer and government contributions subject to the wage ceiling, the total accumulated corpus toward final pension payout is set to increase significantly. As per the latest EPFO data, the organisation currently serves around 7.98 crore contributing members across approximately 7.68 lakh contributing establishments, while the EPS provides pension benefits to around 82 lakh pensioners.
Several categories of employees qualify for Form 10C benefits based on their service tenure and circumstances. Members with less than 10 years of service who left employment after completing more than six months can draw lump-sum withdrawal benefits. Members below 50 years who have completed 10 years of service are eligible for Scheme Certificates, while those aged 50 to 58 who haven't opted for reduced pension may seek certificates to preserve service history. Members reaching 58 without completing 10 years of service can withdraw pension amounts, and nominees and legal heirs of deceased members can submit claims if the member passed away after turning 58 without completing 10 years of service. The Form helps in securing pension funds as well as a Scheme Certificate, with the employee becoming eligible for the Employee Pension Scheme (EPS) after completing 10 years of service.
As per EPFO rules, 58 years is considered the age of retirement, and members can choose to delay pension payments till 60 years of age through two options. Members can pause contributions for two years (lump sum earns 4% p.a. interest till 60 years, no interest after) or continue contributions for two years (higher accumulated amount means higher final payout). Pensions are disbursed monthly to eligible members or beneficiaries through banks or post offices, including superannuation pension, early pension, family pension, orphan/widow pension, and disablement pension. Notably, disbursement is ensured even if the employer defaults, as the EPFO guarantees benefits once membership conditions are met.
Form 10C applications require specific documentation based on the purpose of the form. Basic information including date of birth, Universal Account Number (UAN), Aadhaar, PAN, and reason for leaving must be accurately mentioned. For Scheme Certificate applications, birth certificate of the child is required when applying for a certificate. Deceased member's death certificate and succession documents are necessary when claims are submitted by heirs. A cancelled cheque or bank passbook with account details and Rs 1 revenue stamp for offline applications are also required. Members and heirs can submit Form 10C through the EPFO e-SEWA portal, with approved funds credited to verified bank accounts. The form is also used by family or nominee of a deceased member who passed after 58 years of age but did not complete 10 years of service.
