Superannuation rules in india

POSTED BY Kunal ON December 6, 2010 4:35 pm ONE COMMENT

Hi,

I have some queries in my mind regarding superannuation.

My previous employer use to deduct SA amount on monthly basis and submit it to LIC (I have the reciepts). Its a private firm & I worked there almost 2.9 years. Thereafter I joined another private firm which doesn’t have any SA scheme so clear my below doubts.

Do I am eligible to withdraw SA; if yes than how much can I withdraw, partial or full amount?

If I can’t withdraw SA is there a procedure to transfer even if my present employer doesn’t have any SA scheme

Kindly clarify,

Thanks kunal

One reply on this article “Superannuation rules in india”

  1. Siva - Fundsindia IFA says:

    HI Kunal,

    Just collect your superannuation annuity bond certificate and see the fine prints of the Terms and Conditions. As per my knowledge the Superannuation amount can be withdrawn partially but subject to tax.

    The rest will continue to be with the LIC only but you are eligible to receive pension on that according to your choice.

    Firstly, see your bond.

    Siva

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