Hi,
I was working at Spectra Technovision Pvt. Ltd. I worked there for 9 months. My basic salary was 3800, and the deduction towards PF was Rs. 456 from my side and Rs. 456 from the company's side. My total deduction was Rs. 912. As I worked for 9 months, the total amount would be 8208 (without interest). I received Rs. 5705 towards PF.
I have come to know that the amount I received is only from EPF and not from EPS. Could you please advise me on what steps I should take to receive the EPS amount?
Thanks
From India, Mumbai
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I was working at Spectra Technovision Pvt. Ltd. I worked there for 9 months. My basic salary was 3800, and the deduction towards PF was Rs. 456 from my side and Rs. 456 from the company's side. My total deduction was Rs. 912. As I worked for 9 months, the total amount would be 8208 (without interest). I received Rs. 5705 towards PF.
I have come to know that the amount I received is only from EPF and not from EPS. Could you please advise me on what steps I should take to receive the EPS amount?
Thanks
From India, Mumbai
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Fill up Form 10C and submit thru your ex-employer to the PF authorities. You will get back the amount avl in EPS account with interest. Pon
From India, Lucknow
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660From India, Lucknow
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Dear Pon ji,
With due respect to you, Sir, I would like to correct you as follows:
The queriest is entitled to the withdrawal of his pension contribution upon submitting Form 10C, as stated by you, but with no interest. He is entitled to it as per Para 14 Table D. However, he will not receive the full amount of his contribution.
Additionally, I would like to mention that the queriest has the option to obtain a scheme certificate.
Thank you.
From India, Mumbai
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With due respect to you, Sir, I would like to correct you as follows:
The queriest is entitled to the withdrawal of his pension contribution upon submitting Form 10C, as stated by you, but with no interest. He is entitled to it as per Para 14 Table D. However, he will not receive the full amount of his contribution.
Additionally, I would like to mention that the queriest has the option to obtain a scheme certificate.
Thank you.
From India, Mumbai
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Hi, Your company has paid you less than the minimum wage rate, nearly half of it. PF is also accordingly paid less. This is wrong on the part of your company. Even in a city like Mumbai, such things happen. HR guys do not know the law, and the Government Labour Officer, PF officer, ESI officer visit the company to collect HAFTA.
From India, Mumbai
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From India, Mumbai
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Hi Team,
My name is Amit, and I worked with Spanco BPO in Gurugram. I worked there for approximately 10 months but was unable to apply for EPF claim during my tenure. Now that I wish to claim the amount, the organization has ceased operations. I have my PF account number. Could you please guide me on the process to withdraw my EPF amount?
Your assistance in this matter would be greatly appreciated.
Regards,
Amit
From India
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My name is Amit, and I worked with Spanco BPO in Gurugram. I worked there for approximately 10 months but was unable to apply for EPF claim during my tenure. Now that I wish to claim the amount, the organization has ceased operations. I have my PF account number. Could you please guide me on the process to withdraw my EPF amount?
Your assistance in this matter would be greatly appreciated.
Regards,
Amit
From India
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Dear Friend,
You are eligible to withdraw your pension contribution by submitting Form 10C. If you wish, you may opt for a scheme certificate instead of withdrawing the pension contribution. It is your decision.
Sibabrata Majumdar Management Consultant Legal & HR Kolkata, Mb: 9830023706
From India, Calcutta
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You are eligible to withdraw your pension contribution by submitting Form 10C. If you wish, you may opt for a scheme certificate instead of withdrawing the pension contribution. It is your decision.
Sibabrata Majumdar Management Consultant Legal & HR Kolkata, Mb: 9830023706
From India, Calcutta
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Dear Dipak P. Jain,
Your one-month contribution to EPS will be 3800 x 8.33% = 316.54, rounded to 317. For 9 months, the total contribution will be 317 x 9 = 2853. Your withdrawal benefit will be 3800 x 1.02 = 3876, which is in excess of Rs. 1023 than your contribution.
You may either apply for withdrawal benefit or Scheme certificate, as per your choice. For both, Form 10-C can be used.
Abbas P. S
From India, Bangalore
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Your one-month contribution to EPS will be 3800 x 8.33% = 316.54, rounded to 317. For 9 months, the total contribution will be 317 x 9 = 2853. Your withdrawal benefit will be 3800 x 1.02 = 3876, which is in excess of Rs. 1023 than your contribution.
You may either apply for withdrawal benefit or Scheme certificate, as per your choice. For both, Form 10-C can be used.
Abbas P. S
From India, Bangalore
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Dear Dipak P. Jain,
A scheme certificate is the record of your service details. If you join another service, you can use the certificate to combine both services. If you do not join any further service, you can claim the withdrawal benefit as stated above by surrendering the scheme certificate.
From India, Bangalore
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A scheme certificate is the record of your service details. If you join another service, you can use the certificate to combine both services. If you do not join any further service, you can claim the withdrawal benefit as stated above by surrendering the scheme certificate.
From India, Bangalore
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Hi Dipak,
I can explain to you what PF amount you received. You are absolutely right that you only received the PF amount and not the pension amount.
Your basic amount is 3800. So, 3800 * 15.67% = 595. This amount goes to your PF A/C (12% deducted from your salary and 3.67% contributed by the Employer).
Therefore, 595 * 9 = 5355. 5355 * 8.75% = 468 (8.75% is the current rate of interest on PF, so the interest for 12 months is 468, one month is 39, and for 9 months is 351).
So, the correct amount is 5705 for PF only; the pension amount is not withdrawable.
From India, Mumbai
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I can explain to you what PF amount you received. You are absolutely right that you only received the PF amount and not the pension amount.
Your basic amount is 3800. So, 3800 * 15.67% = 595. This amount goes to your PF A/C (12% deducted from your salary and 3.67% contributed by the Employer).
Therefore, 595 * 9 = 5355. 5355 * 8.75% = 468 (8.75% is the current rate of interest on PF, so the interest for 12 months is 468, one month is 39, and for 9 months is 351).
So, the correct amount is 5705 for PF only; the pension amount is not withdrawable.
From India, Mumbai
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I worked in an organization for 2 years and then used Form 13 to transfer my PF, which I am able to see clubbed with my current PF, also using the UAN provided now.
For EPS, if I understand correctly, I need to submit Form 10C for either withdrawing or getting a scheme certificate from the PF office, and I need to submit the forms to my ex-employer. Is my understanding correct?
From India, Madras
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For EPS, if I understand correctly, I need to submit Form 10C for either withdrawing or getting a scheme certificate from the PF office, and I need to submit the forms to my ex-employer. Is my understanding correct?
From India, Madras
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