Employees’ Pension Scheme, 2026 · Paragraph 32
Paragraph 32: Transfer value
Reviewed by Finin2min Editorial Desk · Last reviewed 21 August 2026
Governs entitlement, computation or processing under transfer value. Eligibility depends on the facts and service/member data specified in the paragraph rather than the page title alone.
Exemption, transfer and special casesBenefits and claimsG.S.R. 527(E)Source checked 21 Aug 2026
Finin2min 2-minute summary
Governs entitlement, computation or processing under transfer value. Eligibility depends on the facts and service/member data specified in the paragraph rather than the page title alone.
Code linkage: Sections 22. Timing: On transfer or exit event specified by the Scheme.
Full notified provision text
32. Transfer value.— (1) Where exemption is granted to any establishment or where a member is transferred from pension fund of one exempted establishment to another pension fund of exempted establishment or statutory pension fund or vice-versa, a transfer value payment shall be made consisting of -
(i) withdrawal benefit relating to past service period up to 15th November, 1995, as per Table-I multiplied by the factors specified in Table-II for the period between 16th November, 1995 to the date of exemption or transfer, as the case may be; and
(ii) transfer value for pensionable service as per Table-V, for the service rendered from 16th November, 1995 or from the date of joining the establishment, upto the date of exemption or transfer as the case may be.
(2) In the event of cancellation of exemption granted under paragraph 30, transfer of Fund shall be made in accordance with the conditions specified in the exemption notification.
Official Gazette PDF · G.S.R. 704(E) corrigendum
Clause / sub-paragraph explanation
(1)
(1) Where exemption is granted to any establishment or where a member is transferred from pension fund of one exempted establishment to another pension fund of exempted establishment or statutory pension fund or vice-versa, a transfer value payment shall be made consisting of -
Explanation: Read this unit as a condition/permission/definition within the paragraph; apply it together with any proviso, exception and defined term that follows. The operative words above control.
(i)
(i) withdrawal benefit relating to past service period up to 15th November, 1995, as per Table-I multiplied by the factors specified in Table-II for the period between 16th November, 1995 to the date of exemption or transfer, as the case may be; and
Explanation: Read this unit as a condition/permission/definition within the paragraph; apply it together with any proviso, exception and defined term that follows. The operative words above control.
(ii)
(ii) transfer value for pensionable service as per Table-V, for the service rendered from 16th November, 1995 or from the date of joining the establishment, upto the date of exemption or transfer as the case may be.
Explanation: Read this unit as a condition/permission/definition within the paragraph; apply it together with any proviso, exception and defined term that follows. The operative words above control.
(2)
(2) In the event of cancellation of exemption granted under paragraph 30, transfer of Fund shall be made in accordance with the conditions specified in the exemption notification.
Explanation: Read this unit as a condition/permission/definition within the paragraph; apply it together with any proviso, exception and defined term that follows. The operative words above control.
Numbers, limits and timelines found in this provision
No standalone numeric threshold was extracted; apply the qualitative conditions in the provision.
Worked practical example
A compliance team facing a 'Transfer value' event should identify the statutory trigger, responsible actor and documentary evidence from this paragraph before filing, paying, approving or rejecting the transaction.
Compliance checklist
- Confirm the establishment/member is within the provision's scope.
- Apply definitions and provisos before using a contribution/benefit figure.
- Check the 4 August 2026 corrigendum and subsequent Gazette instruments.
- Use current EPFO portal/form instructions where the Scheme requires electronic action.
- Retain calculation, acknowledgement, approval/order and supporting data.
Q&A
What does Paragraph 32 of the Employees’ Pension Scheme, 2026 cover?
Governs entitlement, computation or processing under transfer value. Eligibility depends on the facts and service/member data specified in the paragraph rather than the page title alone.
What is the practical compliance focus of Transfer value?
Start with the exact trigger and conditions in Paragraph 32; verify coverage/eligibility, identify the responsible actor, then retain the filing, payment, calculation or decision evidence relevant to benefits and claims.
Does the 4 August 2026 corrigendum affect this paragraph?
No specific correction to this provision was identified, but G.S.R. 704(E) should still be checked where the Gazette page/line is material.
Which Code provisions should be read with Paragraph 32?
The provision register maps this paragraph to Code on Social Security sections 22. Other provisions may also apply depending on the facts.
What records should be kept for Transfer value?
Keep the source employee/establishment data, approvals, contribution/benefit computation, portal acknowledgement, order/correspondence and the version of the Gazette/circular relied on, as applicable.
Primary sources & related intelligence