Dear senior members,
What to do if a PF contribution is held with a company which is a trust maintaining PF. when approached for closure they claim that they would deduct 30% from the contribution as per statute.
Is there any provision to deduct 30% from the contribution of say (approx. 3 years) accumulated by the employee with the company.
They say, the amount can be provided on closure only if a person /employee leaves for abroad or show the proof that the employee is idle for 2 months after leaving them.
Is this correct?
I request senior members views / reply on this please. Secondly, the amount accumulated with a "X" company when transferred to "Y" company (present employer), what is the formality followed?
I infer its the present company with form 13 to send to PF office of previous employer, which PF office (previous employer's) woudl transfer with an intimation to the member and current employer?
IS MY UNDERSTANDING CORRECT. please clarify.
kb
From India, Madras
4What to do if a PF contribution is held with a company which is a trust maintaining PF. when approached for closure they claim that they would deduct 30% from the contribution as per statute.
Is there any provision to deduct 30% from the contribution of say (approx. 3 years) accumulated by the employee with the company.
They say, the amount can be provided on closure only if a person /employee leaves for abroad or show the proof that the employee is idle for 2 months after leaving them.
Is this correct?
I request senior members views / reply on this please. Secondly, the amount accumulated with a "X" company when transferred to "Y" company (present employer), what is the formality followed?
I infer its the present company with form 13 to send to PF office of previous employer, which PF office (previous employer's) woudl transfer with an intimation to the member and current employer?
IS MY UNDERSTANDING CORRECT. please clarify.
kb
From India, Madras
First You should have the P.F code No: of your employer and your serial No: (Your P,F No). If you are having the same you can easily find the same with the Dept. Otherwise, as suggested by Mr. Khan, if you are filing form No13 that will take care. (for this also you need your PF No:)
From India, Mumbai
From India, Mumbai
Hi Deepa,
Amit Here ,
As per yr tenure of service is 18 Months .
Herer is two calculation of calcullating the EPF .
Based on 6500/- restricted to staff as
Employees Share 780/- x 18 months = 14040 /-
Employer Share 780/- X 18 Months = 14040/-
Asper the conpounding interest @ 8.5 PA goes to 12 %
28048 X 12 % = 3369/- = 31449.60 Approx
Less Deduction for 2 months ( 28048- 3120/- ) 24928 X 12 % = 2991/- = 27919/-
If the employers is agreed for deduction of EPF on Basic + VDA amount @ 12 % then it is goes up accordengly .
thanks & Rgds
Amit KB
[
QUOTE=vandana verma;749257]Dear
My doJ was 01 Dec. 2006 and Date of leaving was 31st May 2008. at the time of appointment my gross salary was Rs. 10,000/- and pf deduction was Rs. 780/-. after one year in jan salary increased to Rs. 11,000.
would like to tell you, i took long leave of 3months also during my job period.
i hope, this information will be good enough for you to calculate the amount.
thanks with warm regards
deepa[/QUOTE]
From India, New Delhi
Amit Here ,
As per yr tenure of service is 18 Months .
Herer is two calculation of calcullating the EPF .
Based on 6500/- restricted to staff as
Employees Share 780/- x 18 months = 14040 /-
Employer Share 780/- X 18 Months = 14040/-
Asper the conpounding interest @ 8.5 PA goes to 12 %
28048 X 12 % = 3369/- = 31449.60 Approx
Less Deduction for 2 months ( 28048- 3120/- ) 24928 X 12 % = 2991/- = 27919/-
If the employers is agreed for deduction of EPF on Basic + VDA amount @ 12 % then it is goes up accordengly .
thanks & Rgds
Amit KB
[
QUOTE=vandana verma;749257]Dear
My doJ was 01 Dec. 2006 and Date of leaving was 31st May 2008. at the time of appointment my gross salary was Rs. 10,000/- and pf deduction was Rs. 780/-. after one year in jan salary increased to Rs. 11,000.
would like to tell you, i took long leave of 3months also during my job period.
i hope, this information will be good enough for you to calculate the amount.
thanks with warm regards
deepa[/QUOTE]
From India, New Delhi
Dear Friends,
Is it necessary to take a signature and seal of previous company in the form 13 to transfer our PF account to our new organisation.
One more doubt i have while recruiting contract manpower, in this site itself i got few details. It is as follows:
1)Issue a simple appointment letter.
2) Mention the date of joining.
3) Mention specifically when this appointment will come to an end.
4)Mention that she is appointed for particular project.
5)Give a consolidated pay.
6)Cover under PF and ESI. 7)Relieve them on the specified date. Don’t extend their period.
Neither PF,ESI or bonus or for that reason any central Act makes any distinction on the nature of empolyment that is permanent, contract, casual etc. So all of them are applicable.
What does consolidated pay mean in this case?
Request you all to help me out.
Regards,
Aishu
From India, Bangalore
Is it necessary to take a signature and seal of previous company in the form 13 to transfer our PF account to our new organisation.
One more doubt i have while recruiting contract manpower, in this site itself i got few details. It is as follows:
1)Issue a simple appointment letter.
2) Mention the date of joining.
3) Mention specifically when this appointment will come to an end.
4)Mention that she is appointed for particular project.
5)Give a consolidated pay.
6)Cover under PF and ESI. 7)Relieve them on the specified date. Don’t extend their period.
Neither PF,ESI or bonus or for that reason any central Act makes any distinction on the nature of empolyment that is permanent, contract, casual etc. So all of them are applicable.
What does consolidated pay mean in this case?
Request you all to help me out.
Regards,
Aishu
From India, Bangalore
Hi Deepa,
There is no any online solution to check your account balance now. But it will be stated very soon they are trying to develop his software program, Do your know one year ago the department had started to doing all type of transactions through interne?, Some think like monthly deposit challan submission through Business Number , monthly contribution details through “R1” Form., Created all account online through “NSSN” Number. There were some problem created in them package on that time and his package had failure. After that they are doing the same manually now. They are also resolving his package problem as soon as possible. Then we will check all types of status online.
Now he is updating all types of withdraw claim status through his site “www.epfindia.com” till now also.
Your Account Balance:-
It May Be Near about: - 24380/-
i.e.:- Your EPF Deducted Amount is -780/- PM
Than Your Basic Amount -6500/-
Your actual Working Month (12+6)-3=15 Month
Your EPF Amount = 780*15=11700/-
Employer Share = 239*15=03585/-
Total =15285/-
Interest Credited = 15285*8.5% per Financial Period
= 1299/- (Approximate)
Your EPS Amount=541*15=8115/-
Total Amount Will Be=15285+1299+8115
=24699/- (Approximate)
Respected Seniors,
If I m any were wrong then please assist me for try to learn some thing in my Bright Future.
With Best Regards
Pankaj
Dy. Admin. Mgr.
+919996602525
There is no any online solution to check your account balance now. But it will be stated very soon they are trying to develop his software program, Do your know one year ago the department had started to doing all type of transactions through interne?, Some think like monthly deposit challan submission through Business Number , monthly contribution details through “R1” Form., Created all account online through “NSSN” Number. There were some problem created in them package on that time and his package had failure. After that they are doing the same manually now. They are also resolving his package problem as soon as possible. Then we will check all types of status online.
Now he is updating all types of withdraw claim status through his site “www.epfindia.com” till now also.
Your Account Balance:-
It May Be Near about: - 24380/-
i.e.:- Your EPF Deducted Amount is -780/- PM
Than Your Basic Amount -6500/-
Your actual Working Month (12+6)-3=15 Month
Your EPF Amount = 780*15=11700/-
Employer Share = 239*15=03585/-
Total =15285/-
Interest Credited = 15285*8.5% per Financial Period
= 1299/- (Approximate)
Your EPS Amount=541*15=8115/-
Total Amount Will Be=15285+1299+8115
=24699/- (Approximate)
Respected Seniors,
If I m any were wrong then please assist me for try to learn some thing in my Bright Future.
With Best Regards
Pankaj
Dy. Admin. Mgr.
+919996602525
Dear Vandana Verma,
I don not understand why are u interested in knowing your amount with previous employer? If you are working and your present company is covered under EPF and MP act 1952 then just apply on Form-13 for transfer of EPF form previous account to present account but for this you should know ur EPF account nos. of previous and present employer. This is very easy process as it does not require any signature from previous employer.
If u are not working then u can withdraw ur amount by applying on form-19 & 10 C but this will require the signature of previous employer.
I hope this will help u. If u need further help, please contact at the following mail ID.
From India, Gurgaon
I don not understand why are u interested in knowing your amount with previous employer? If you are working and your present company is covered under EPF and MP act 1952 then just apply on Form-13 for transfer of EPF form previous account to present account but for this you should know ur EPF account nos. of previous and present employer. This is very easy process as it does not require any signature from previous employer.
If u are not working then u can withdraw ur amount by applying on form-19 & 10 C but this will require the signature of previous employer.
I hope this will help u. If u need further help, please contact at the following mail ID.
From India, Gurgaon
Hi Vandana,
Hope you will fine,
For PF amount withdrawal after 2month job left, you can try for pf withdrawal, so you can follow only one step, and step is, you should contact from your previous company Accounts or HR Department and if department person say no, then you should go labor law department. Because you’re previous employer can not stop your PF amount after 2month.
Thanks
Vikas Mishra :idea:
From India, Indore
Hope you will fine,
For PF amount withdrawal after 2month job left, you can try for pf withdrawal, so you can follow only one step, and step is, you should contact from your previous company Accounts or HR Department and if department person say no, then you should go labor law department. Because you’re previous employer can not stop your PF amount after 2month.
Thanks
Vikas Mishra :idea:
From India, Indore
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Steps to transfer PF amount.jpg
PF Amount Balance Check.xls
HC All - Trainees not covered for PF -2010.pdf