EPF Form 10D

All employees registered with the Employee Provident Fund Organisation (EPFO) are automatically enrolled in the Employee Pension Scheme (EPS). The EPS allows all members to claim their pension once they reach 58 years of age after retirement. To initiate the process of claiming the monthly pension from the Employers' Provident Fund Organization (EPFO), it is necessary to complete Form 10D. Any member of the EPFO can fill out this form 10 D for pension claim. This article provides information on the eligibility criteria for pension withdrawal, the necessary documents, and a guide on how to fill out EPF Form 10D.

What is EPF Form 10D?

EPF Form 10D refers to the pension withdrawal forms that may be completed after retirement by the member or its nominee. Moreover, the eligibility criteria for submitting the form are as follows: the member must be retired or have opted for early retirement.
In the unfortunate event of the member's demise, the nominee must fill out and submit the form to receive the eligible pension amount. The Employees' Pension Scheme (EPS) proposes different ,types of pensions including widow pension, permanent disability pension, and nominee pension. The EPS, introduced in 1995, replaced the Family Pension Scheme founded in 1971.
According to the Employees Provident Funds & Miscellaneous Provision Act 1952, the pension amount granted to the member is based on their salary and the total number of years they have served, which are considered pensionable years. One can submit the form offline or through the EPF Form 10D online application available on the official EPFO portal.

Understanding About Section 10D of the Income Tax Act for EPF

As per the 1961 Income Tax Act, Section 10D deals with the tax implications related to claims for death benefits or accrued bonuses. It provides exemptions for these amounts from taxation. Individuals can claim the tax exemption based on their principal amount and any accumulated bonus received via a life insurance tax-saving claim present under this particular section.

Terms And Conditions Regarding Section 10D

•    For the insurance plans bought after 1st April 2012, your premium amount should not surpass ten percent of the assured sum. 
•    Between 1st April 2003 and 31st March 2012, the life insurance schemes must have premiums less than twenty percent of the assured amount. 
•    This section also covers gains from the Single Premium Life Insurance Policies and Unit-Linked Insurance Plans, provided the aforementioned conditions are met. 
•    In the case of policies purchased before 1st April 2013, the premium amount should not surpass fifteen percent of the insured sum. This category includes those who fall under the following criteria:

1.    Those who are classified as disabled as per the definition outlined in Section 80U of the Income Tax Act of 1961.
2.    Those with disabilities as mentioned in Section 80DDB of the Income Tax Act of 1961.
 

Who Can Claim Pension Through EPF Form 10D?

An individual may be able to claim their EPF Form 10D if they fulfill the following criteria level:
•    If you are an employed individual receiving a salary and a member of EPFO.
•    If an individual is a widower or widow, it is advisable to consider becoming a member of the EPFO.
•    If you are a nominee designated by an EPF member.
•    You can still benefit from their contributions if you are a minor or orphan and your family members are registered as EPF members.
•    If you are the guardian of an EPF member.
 

How To Fill EPF Form 10D?

EPF Form 10D is used for claiming the monthly pension under the Employees' Pension Scheme (EPS) as per the Employee Provident Fund Organization in India. To fill out Form 10D correctly, follow these steps:

1.    Personal details: Fill out all the personal information, like your name, address, EPF account number, and contact details.
2.    Scheme certificate details: If you have received a scheme certificate under the EPS, enter the certificate number, date of issue, and the name and address of the establishment from which the certificate was issued.
3.    Pension option: Check the appropriate box to indicate your preferred pension option. You can choose either a lifelong pension or a temporary pension with a specific duration.
4.    Bank details: Provide your bank account details, including the account number, type of account (savings or current), and the name and address of the bank branch.
5.    Nomination details: If you have nominated someone to receive your pension amount after your death, provide their details, including their name, address, and relationship to you.
6.    Declaration: Read the declaration carefully and sign and date the form in the appropriate spaces.
7.    Attestation: If you are submitting the form directly to the EPFO office, you may need to get the form attested by your employer or a gazetted officer. Check the instructions provided with the form to determine if attestation is required.
8.    Supporting documents: Attach any necessary supporting documents, such as a scheme certificate, if applicable, along with your form 10D Savings Schemes.

When all these information is filled in, the applicant must verify and sign the form. Additionally, the last employer must complete and sign Section 2 of EPF Form 10D. The member should submit the correctly filled form at the regional office of EPFO.

Remember to keep a copy of the filled-out form and supporting documents for your records. It's recommended to consult the EPFO website or contact your employer or the EPFO helpline for any specific guidance or updates regarding the form-filling process.
 

What are Documents Needed to be Enclosed with EPF Form 10D?

When withdrawing your pension from the EPF account, submitting certain documents along with the duly filled Form 10D is essential. These documents include the following:

●    Pensioner's descriptive role, including their thumb impression/specimen signature. 
●    3 passport-size photos.
●    If the employee has any disability or is completely disabled, they must undertake a comprehensive medical examination conducted by a Medical Board assigned by the EPFO. Ensure that the relevant documents from this examination are attached to the form.
●    The concerned establishment is required to provide the form 10D scheme certificate and wage particulars of the member during their retirement and death.
●    In the event that the concerned establishment is no longer operating and no legal official is appointed, then the application must be passed through a person from a list approved by the Commissioner. This list may include a magistrate, bank manager, gazetted officer, or another authorized officer.
Always ensure that these necessary documents and the completed Form 10D are properly attached when submitting your pension withdrawal application from the EPF account.
 

Benefits of EPF Form 10D

EPF Form 10D, also known as the Pension Claim Form, is used to claim the monthly pension from Employees' Provident Fund Organization (EPFO) in India. Here are the advantages of Form 10D:

1.    Monthly Pension: By submitting Form 10D, you can claim a regular monthly pension from the EPFO. The pension amount is based on your years of service, average salary, and other factors according to the EPF rules.
2.    Retirement Security: The EPF pension provides financial security after retirement. It ensures a steady income stream to support your post-retirement expenses and maintain your standard of living.
3.    Family Pension: In the unfortunate event of the member's death, the EPF pension scheme provides a family pension to the eligible spouse or dependent family members. Form 10D can be used to claim the family pension.
4.    Disability Pension: If a member becomes disabled and unable to work, EPF provides a disability pension. Form 10D can be used to claim the disability pension benefits.
5.    Nominee Benefits: In case of the member's death, if there is a nominee mentioned in the EPF account, they can claim the pension benefits by submitting EPF Form 10D.
6.    Simplified Procedure: EPF Form 10D is designed to simplify the pension claim process. You can initiate the pension claim and receive regular pension payments by providing the necessary information and documents.

It's important to note that the EPF rules and procedures may change over time. Therefore, it is advisable to consult the official EPFO website or contact the EPFO directly for the most up-to-date and accurate information regarding EPF Form 10D and the pension claim process.
 

Processing Time of the Application of EPF Form 10D

The entire processing time for settling the pension to the beneficiary is accomplished within 30 days from the submission date of the application. It is worth noting that the claim form 10D, which is used for checking the pension status, will also be settled within 30 days.

Conclusion

In conclusion, EPF Form 10D is an important document used to claim the monthly pension from the Employees' Provident Fund Organization (EPFO). By filling out this form, individuals can access various benefits, including a regular pension, family pension, disability pension, and nominee benefits.
EPF Form 10D simplifies the pension claim process and provides individuals with financial security and stability during retirement. It ensures a steady income stream and helps maintain a decent standard of living post-retirement.
Keep in mind that the specific requirements, eligibility criteria, and procedures for claiming the pension may vary, and it is advisable to refer to the official EPFO guidelines or contact the EPFO directly for accurate and updated information.
Claiming the monthly pension through EPF Form 10D is an important step towards securing financial stability and peace of mind during retirement or in the event of disability or death, ensuring support for the individual or their family members.