Dear All , I was working for an organization from Jan 2011 to June 2015 i.e., for 3.5 years. 1000 Rupees were deducted ( as 12% of my basic) from my salary and the same amount should also be contributed by the employer , in this way 2000 Rupees/month has to be added for 3.5 years which makes around 82000/- Rupees , but when I applied for PF transfer from one organization to another , I got only 65000/- . Please advice.
Thanks and Regards
Amit Jha
8109467130
From India, Delhi
Thanks and Regards
Amit Jha
8109467130
From India, Delhi
Dear Amit
Basically for provident point of view, there are two different aspects one belongs to the member and other to the employer. The member is generally required to make contribution @ 12% of his basic salary which is Rs. 1000/- in your case and the employer has also contributed equal to yours' share. EPFO have two schemes one pertaining to the member epf contribution and other to the employer called EPS. Your's contribution has been paid in account no 1 of EPF Scheme including employers' share @ 3.67% of employers' contribution. The total contribution paid in account number 1 comes out 15.67% out of total 25% and rest of the amount has been paid to the EPS (Employees' Pension Scheme). You have filled up Form no 13 for transfer of pf contribution which you are understanding that whole of the amount lying with the PF authority will transfer to your new member id. The amount of EPS is still lying with the EPF authority for which you can obtain a scheme certificate and further add on your services to new member id. The amount of EPS is calculated on prorate basis on the length of the service.
thanks
Regards
R B Rao
Advocate
From India, Gurugram
114Basically for provident point of view, there are two different aspects one belongs to the member and other to the employer. The member is generally required to make contribution @ 12% of his basic salary which is Rs. 1000/- in your case and the employer has also contributed equal to yours' share. EPFO have two schemes one pertaining to the member epf contribution and other to the employer called EPS. Your's contribution has been paid in account no 1 of EPF Scheme including employers' share @ 3.67% of employers' contribution. The total contribution paid in account number 1 comes out 15.67% out of total 25% and rest of the amount has been paid to the EPS (Employees' Pension Scheme). You have filled up Form no 13 for transfer of pf contribution which you are understanding that whole of the amount lying with the PF authority will transfer to your new member id. The amount of EPS is still lying with the EPF authority for which you can obtain a scheme certificate and further add on your services to new member id. The amount of EPS is calculated on prorate basis on the length of the service.
thanks
Regards
R B Rao
Advocate
From India, Gurugram
Dear Mr. Amit Jha,
Subsequent to submission of form 13, Annexure K will be prepared consists of both EPF amount and pension service. Kindly enquire with your present Sub Regional PF Commissioner's Office, so that you can make sure that the service on EPS is already transferred. As Advo. R B Rao stated, shortage in PF amount is due to remittance to pension fund.
Abbas.P.S
From India, Bangalore
Subsequent to submission of form 13, Annexure K will be prepared consists of both EPF amount and pension service. Kindly enquire with your present Sub Regional PF Commissioner's Office, so that you can make sure that the service on EPS is already transferred. As Advo. R B Rao stated, shortage in PF amount is due to remittance to pension fund.
Abbas.P.S
From India, Bangalore
The period of employment is shown as JAN 2011 to JUNE 2015 which becomes total contribution period of 54 months contribution, whereas you stated as 3.5 years which becomes 42 months. Assuming that the contribution for entire period is Rs. 1000.00 (your share) + Rs.1000.00 (Employer share which is bifurcated in to Rs. 306 to PF and remaining Rs.694 to pension fund). Accordingly you are eligible to get transferred your PF amount comes to Rs. 54,852.00 + accrued interest. The contribution to pension fund is directly transferred to your pension fund account of new employer's PF Code and remained with the RPFC respective office who maintain the new employer's PF.
From India, Mumbai
From India, Mumbai
WE ARE EMPLOYERS HAVING REG.No.KD/MAL/0093728/000 ALSO WE ARE HALAI LOHANA BALASHRAM TRUST AND WE NOT E.P.F SINCE APRIL ‘ 2015 WE HAVE PERMISSION ONLY CHEQUE SYSTEM NOT ONLINE OR RTGS ETC ETC SO GIVE ME NAME AND ADDRESS OF BANK WHO ACCEPT THE CHEQUE PAYMENT NEAR BY BORIVALI , KANDIVALI AND MALAD AND LAST BY LAST GOREGAON NOT BEYOND THESE FOUR STATION BECAUSE ARE IN KANDIVALI WEST SO GIVE NEAR BY BANK NAME ADDRESS WHO ACCEPT THE CHEQUE PAYMENT
From India, Mumbai
From India, Mumbai
Dear All ,
Lot of Thanks for the same , as per kulkarnimahesh sir yes it is 54 months , I have wrongly calculated earlier , now can I withdraw the amount lying in pension fund account . Also once I have withdrawal my PF when I was working with an another organization during the period Feb 2008 to dec 2010 , I had requested for PF withdrawal and not for transfer , I got the payment of PF through cheque/dd , so at that time the amount which I would have received was the complete amount or that time also I would have received only PF and not the amount lying in PFA.
From India, Delhi
Lot of Thanks for the same , as per kulkarnimahesh sir yes it is 54 months , I have wrongly calculated earlier , now can I withdraw the amount lying in pension fund account . Also once I have withdrawal my PF when I was working with an another organization during the period Feb 2008 to dec 2010 , I had requested for PF withdrawal and not for transfer , I got the payment of PF through cheque/dd , so at that time the amount which I would have received was the complete amount or that time also I would have received only PF and not the amount lying in PFA.
From India, Delhi
Dear Mr. Amit,
When u have earlier withdraw your PF, the whole amount paid to u alongwith the PFA (Pension Fund Account).
Pls note while our service period is less than 10 year, both share (Employee+Emplyer) paid to the individual.
However, the PF authorities dont give interest on the EPS-Employee Pension Scheme (to which u r saying PFA).
So, don't be in opinion that the Pension Fund of ur previous job (Feb 2008 to Dec. 2010) also retain with the PF Office.
Only ur transferred contribution is lying with the PF authorities and accordingly the service period will also be counted for ur Pension Period (which is minimum 10 yrs)
From India, Delhi
When u have earlier withdraw your PF, the whole amount paid to u alongwith the PFA (Pension Fund Account).
Pls note while our service period is less than 10 year, both share (Employee+Emplyer) paid to the individual.
However, the PF authorities dont give interest on the EPS-Employee Pension Scheme (to which u r saying PFA).
So, don't be in opinion that the Pension Fund of ur previous job (Feb 2008 to Dec. 2010) also retain with the PF Office.
Only ur transferred contribution is lying with the PF authorities and accordingly the service period will also be counted for ur Pension Period (which is minimum 10 yrs)
From India, Delhi
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