Superannuation Fund Benefit – Frequently Asked Questions (FAQs)
The superannuation fund benefit is provided by the employer to their employees. This is a retirement benefit which is made part of employee CTC. While EPF is well known to most of the employees, superannuation benefit is less known about how it operates and how one can withdraw during resignation or retirement. What is Superannuation Fund in India? What are frequently asked questions (FAQs) on Superannuation Fund Benefit that employees should be aware?
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Superannuation Fund Benefit – Frequently Asked Questions (FAQs)
Here are some of the frequently asked questions. If you are an employee and Superannuation Fund benefit is part of your CTC, you should go through them.
1) What is Superannuation Fund?
Superannuation fund is a retirement benefit provided by the employer to the employee. The employer would make contributions to the superannuation fund scheme either monthly or yearly. Generally, employers would take the group superannuation scheme and such scheme is offered by most of the insurance companies in India.
2) How would I know whether I am eligible for Superannuation benefit?
Employees can check their CTC break-up. Under retiral benefits, if you see superannuation along with some allocated amount, then you are eligible and would be getting superannuation contribution to your account.
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