EPFO Pension Rules: If there is a long gap between jobs then how will 10 years be counted, when will the pension entitlements be available?

According to EPFO ​​rules, if you work in a company continuously for 10 years, then you become entitled to get pension under the EPFO ​​Pension Scheme EPS at the age of retirement. But suppose a person worked for 4 years, but lost his job and it took 2 to 3 years to get a new job, then on what basis will his years of service be counted?

Will the length of service be calculated afresh with the new job or will the years of service be calculated by adding the new job to the length of the previous job, ignoring the difference? This is a question that arises in the minds of all employees. Let us tell you what are the rules regarding this so that any kind of doubt can be eliminated.

Know what happens after a long gap
There is no need to worry if there is a long gap in getting a new job after leaving an organization. In such a situation, whenever you start a job again, keep your UAN number the same as it was in the previous company. With this, on changing jobs, money will be transferred from your new company to the same account. Also, the total service period of your previous job will be added to your new job. In such a situation, you will not need to complete 10 years of service again.

understand with example
For example, if you work in a company for 5 years. After this you lose your job and after about a year you join another job. If you add your same UAN number to another job then your 5 years of job will not be wasted. The intervening year is removed and further calculations start from the time of joining the new job. In this way, if you again complete 5 years in any other company, then your 10 years will be considered completed and that person will be considered entitled to take the benefit of regular pension scheme.

If 10 years of service period is not completed
If your 10 years of job tenure has not been completed and you do not intend to take up further employment, you can withdraw the amount deposited in your pension account even before the retirement age. In this situation, you do not get any interest on the withdrawal of pension amount, rather the pension benefit is decided according to a formula. This formula depends on the total duration of your job and final salary.