Hi,
In recent days, we are seeing that PF transfers for employees who are first-time joiners after September 2014 with wages more than ₹15,000, their requests are getting rejected by the EPFO asking for clarification.
There are employers who had enrolled employees with wages more than ₹15,000 into the EPS Scheme after September 2014, and the employees are continuing in the same scheme with the next organizations and are willing to continue with future organizations too.
Kindly share a suitable format for providing clarification and requesting the authority to accept the PF transfer request.
Regards, Amarjeet
From India, Pune
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1In recent days, we are seeing that PF transfers for employees who are first-time joiners after September 2014 with wages more than ₹15,000, their requests are getting rejected by the EPFO asking for clarification.
There are employers who had enrolled employees with wages more than ₹15,000 into the EPS Scheme after September 2014, and the employees are continuing in the same scheme with the next organizations and are willing to continue with future organizations too.
Kindly share a suitable format for providing clarification and requesting the authority to accept the PF transfer request.
Regards, Amarjeet
From India, Pune
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Dear Amarjeet,
There was a circular from EPFO in August 2014 stating that any first-time employee whose basic salary is more than ₹15,000 at the time of joining will not be eligible for EPS membership. Unfortunately, many organizations, without noticing the circular, continue to deposit in EPS. Those employees will not be eligible for any facility under EPS. You can find the circular on the EPFO site, and I have personally uploaded it on Citehr twice.
You can write a letter to EPFO on behalf of those employees, stating that the deposits were made to the EPS account by mistake. Kindly arrange to transfer the amount to the PF account and cease any further deposits to the EPS account.
Before taking any action, please visit the local EPFO Office to discuss with them.
S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions +91 98310 81531 skb@usdhrs.in USD HR Solutions – To strive towards excellence with effort and integrity
From India, New Delhi
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There was a circular from EPFO in August 2014 stating that any first-time employee whose basic salary is more than ₹15,000 at the time of joining will not be eligible for EPS membership. Unfortunately, many organizations, without noticing the circular, continue to deposit in EPS. Those employees will not be eligible for any facility under EPS. You can find the circular on the EPFO site, and I have personally uploaded it on Citehr twice.
You can write a letter to EPFO on behalf of those employees, stating that the deposits were made to the EPS account by mistake. Kindly arrange to transfer the amount to the PF account and cease any further deposits to the EPS account.
Before taking any action, please visit the local EPFO Office to discuss with them.
S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions +91 98310 81531 skb@usdhrs.in USD HR Solutions – To strive towards excellence with effort and integrity
From India, New Delhi
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Dear Sir,
Thank you for the detailed information.
If you could assist with a suitable reply format for providing the clarification and requesting the authority to accept the PF transfer request.
Regards,
Amarjeet
From India, Pune
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Thank you for the detailed information.
If you could assist with a suitable reply format for providing the clarification and requesting the authority to accept the PF transfer request.
Regards,
Amarjeet
From India, Pune
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(Fact Checked)-Dear Sir Thanks for the detailed information. If you can help with a suitable reply format for PF transfer request clarification. Regards Amarjeet (1 Acknowledge point)
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I am surprised when I noticed that HR professionals are seeking a draft to write to any authority. It is, in my opinion, the bare minimum skill for any HR professional. Moreover, my reply was on May 22, and you are asking for some support in July 22. I do not know whether you have stopped depositing EPS amounts from June 22 onwards or not. Have you contacted the local EPFO office?
However, for your reference, the letter to the local EPFO office may be as follows:
To The APFC (or any other person - please cross-check from the local EPFO office) .............................. (location)
-------------------------- (address)
Dear Sir/Madam,
Sub: Erroneously deposited EPS amount
We, (name of the organization with address and PF Code), erroneously deposited EPS amounts against some of our employees as enclosed.
We request you to transfer the EPS amounts to their respective EPF accounts as the concerned employees are not eligible for EPS.
Yours ............
Authorised signatory.
Enclosure: Detailed employee list.
The enclosure should contain: Sl. no., Name, UAN no., PF no., Period of EPS deposition, Total amount deposited, Remarks if any.
S K Bandyopadhyay CEO-USD HR Solutions +91 98310 81531 skb@usdhrs.in http://www.usdhrs.in USD HR Solutions – To strive towards excellence with effort and integrity
From India, New Delhi
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However, for your reference, the letter to the local EPFO office may be as follows:
To The APFC (or any other person - please cross-check from the local EPFO office) .............................. (location)
-------------------------- (address)
Dear Sir/Madam,
Sub: Erroneously deposited EPS amount
We, (name of the organization with address and PF Code), erroneously deposited EPS amounts against some of our employees as enclosed.
We request you to transfer the EPS amounts to their respective EPF accounts as the concerned employees are not eligible for EPS.
Yours ............
Authorised signatory.
Enclosure: Detailed employee list.
The enclosure should contain: Sl. no., Name, UAN no., PF no., Period of EPS deposition, Total amount deposited, Remarks if any.
S K Bandyopadhyay CEO-USD HR Solutions +91 98310 81531 skb@usdhrs.in http://www.usdhrs.in USD HR Solutions – To strive towards excellence with effort and integrity
From India, New Delhi
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(Fact Check Failed/Partial)-The user reply contains inaccuracies in terms of the process for addressing erroneously deposited EPS amounts. The correct process involves mentioning the specific employees' details and reasons for the transfer, not just a general statement.
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Dear Sir, Pls provide the consent letter format from Employee to employer for transfer amunt EPF to EPS for higher pension scheme.
From India, Solan
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From India, Solan
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(Fact Check Failed/Partial)-The user reply is incorrect. There is no requirement for a consent letter format from the employee to the employer for EPF to EPS transfer.
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Format Meanings.txt
Kra format.doc
CiteHR.AI
(Fact Checked)-The information provided in the user reply is correct regarding the circular from EPFO in August 2014 that states employees with a basic salary over Rs. 15,000 at joining are not eligible for EPS. The advice on rectifying the error with EPFO is accurate. (1 Acknowledge point)