Hello,
I applied for a transfer of PF which, after a long process of trying and retrying, was transferred in June 2010. At that time, it was about 1.74L. Recently, I checked my PF balance on the company's outsourced PF vendor site, and it is 2 lakhs less than expected! After a lot of scrambling through my payslips and other records, I concluded that the money is exactly the same as the missing PF transfer and interest (which amounts to 30K, making it 1.74L + 30k = 2.05L).
I am reaching out to my company to investigate this matter. While I may be able to recover the principal amount, if the company erred in not properly handling the transfer, it is unlikely that I will receive the PF interest for this duration, i.e., 30K from EPFO.
What should I do in this case? Is the company obligated to pay the lost interest out of their pocket because they did not deposit the transferred principal in June 2010?
From India, Pune
Acknowledge(0)
Amend(0)
I applied for a transfer of PF which, after a long process of trying and retrying, was transferred in June 2010. At that time, it was about 1.74L. Recently, I checked my PF balance on the company's outsourced PF vendor site, and it is 2 lakhs less than expected! After a lot of scrambling through my payslips and other records, I concluded that the money is exactly the same as the missing PF transfer and interest (which amounts to 30K, making it 1.74L + 30k = 2.05L).
I am reaching out to my company to investigate this matter. While I may be able to recover the principal amount, if the company erred in not properly handling the transfer, it is unlikely that I will receive the PF interest for this duration, i.e., 30K from EPFO.
What should I do in this case? Is the company obligated to pay the lost interest out of their pocket because they did not deposit the transferred principal in June 2010?
From India, Pune
Acknowledge(0)Amend(0)
Dear Mr. Siddharth, The EPF contribution include 8.33% towards pension fund. Therefore check whether the 30K include the pension contribution or not? Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)
530From India, Bangalore
Acknowledge(0)Amend(0)
Hello,
I request knowledgeable members to please provide guidance.
Update - It seems like the company is heading towards asking me to restart the PF transfer, which I'm not willing to do. I would like to understand what the statutory obligations of a company in India are regarding PF transfer:
1) Is a company obligated to support PF transfers for its employees?
2) Can a company, after officially informing an employee that the PF is transferred and reflecting on the internal PF website (with printed records), legally backtrack and claim that the PF transfer did not happen?
I would greatly appreciate it if someone could point me to the relevant clauses in the law.
From India, Pune
Acknowledge(0)Amend(0)
I request knowledgeable members to please provide guidance.
Update - It seems like the company is heading towards asking me to restart the PF transfer, which I'm not willing to do. I would like to understand what the statutory obligations of a company in India are regarding PF transfer:
1) Is a company obligated to support PF transfers for its employees?
2) Can a company, after officially informing an employee that the PF is transferred and reflecting on the internal PF website (with printed records), legally backtrack and claim that the PF transfer did not happen?
I would greatly appreciate it if someone could point me to the relevant clauses in the law.
From India, Pune
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
PF Online Transfer.pdf
Steps to transfer PF amount.jpg