Hi,
My PF contribution amount is around 3 lakhs, whereas interest should get credited approximately 25,000 (if the interest rate is 8.65%). However, I am observing a much lower amount, around 9,000. Could anyone guide me on how to resolve this issue?
A few details related to my PF account that may help you:
1. I worked for 3 companies and transferred all old PF accounts.
2. I worked in each company for around 2 to 3 years.
Thanks, Seshu
From India, Hyderabad
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My PF contribution amount is around 3 lakhs, whereas interest should get credited approximately 25,000 (if the interest rate is 8.65%). However, I am observing a much lower amount, around 9,000. Could anyone guide me on how to resolve this issue?
A few details related to my PF account that may help you:
1. I worked for 3 companies and transferred all old PF accounts.
2. I worked in each company for around 2 to 3 years.
Thanks, Seshu
From India, Hyderabad
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PF consists of employee and employer contributions of 12%. The details are as follows:
Scheme Name Employee contribution Employer contribution Total
Employee Provident Fund 12% 3.67% 15.67%
Employees' Pension Scheme 0 8.33% 8.33%
PF Members accrue interest on 15.67% of total contributions, and not on 24%.
From India, Mumbai
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274Scheme Name Employee contribution Employer contribution Total
Employee Provident Fund 12% 3.67% 15.67%
Employees' Pension Scheme 0 8.33% 8.33%
PF Members accrue interest on 15.67% of total contributions, and not on 24%.
From India, Mumbai
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I suggest you go and speak to the PRO in the PF Department / RPFC office. They are helpful and will tell you why and how it is computed
From India, Mumbai
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From India, Mumbai
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Dear Mr. Dasari Sesha,
Have you downloaded your latest Member Pass Book? Please note that Employer Contribution to EPS @8.33%, maximum up to, will not earn any interest and the same is not reflected in the Member Balance. I am sure your calculation is without any documentary evidence. Please download the same and revert if there are any factual errors.
From India, New Delhi
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Have you downloaded your latest Member Pass Book? Please note that Employer Contribution to EPS @8.33%, maximum up to, will not earn any interest and the same is not reflected in the Member Balance. I am sure your calculation is without any documentary evidence. Please download the same and revert if there are any factual errors.
From India, New Delhi
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PF INTEREST CALCULATION SHEET.xls