Dear Vikasji,
yes this is happening all over as you have stated in the case and becouse of following reasons,
First thing is that, if we (HR) Don't ask employee that he PF had account in previous company and if he had then what he did. we generally don't ask them (newly joined employees) to submit form No. 11. we simply get nomination and declation form from that person and submit it with allocation of different account number to him. PF office gets lot of forms in a single day so they don't bother about enquiring the person had/ has another PF account and is still there or withdrawal has been done. they simply accept the account number assuming that employer has done all enquiry.
IF person has done withdrawal from his previous account and his next employer is willing to open new account then PF office has no objection.
But if employer refuses to open new PF account for the person who has done withrawal and closed PF account from his previous company then it is 100% legal ( no legal obligation on employer).
if person has salary not more than 6500 at the time of Joining the fund first time then he is eligible for PF evenif his salary increases after few days or months. but only case is that he should transfer his PF account by submitting form No. 13 when switching to new company. if he does withdrawal and reapplies in next company then he comes under defination of exempted emloyee but if his next employer is willing to open his new PF account then PF office accepts , it gives importance to employers will because PF office assumes that employer is doing it for wellbeing of employee ( but no legal obligation on employer in this case).
Please correct me if i am going wrong.
From India, Mumbai
121yes this is happening all over as you have stated in the case and becouse of following reasons,
First thing is that, if we (HR) Don't ask employee that he PF had account in previous company and if he had then what he did. we generally don't ask them (newly joined employees) to submit form No. 11. we simply get nomination and declation form from that person and submit it with allocation of different account number to him. PF office gets lot of forms in a single day so they don't bother about enquiring the person had/ has another PF account and is still there or withdrawal has been done. they simply accept the account number assuming that employer has done all enquiry.
IF person has done withdrawal from his previous account and his next employer is willing to open new account then PF office has no objection.
But if employer refuses to open new PF account for the person who has done withrawal and closed PF account from his previous company then it is 100% legal ( no legal obligation on employer).
if person has salary not more than 6500 at the time of Joining the fund first time then he is eligible for PF evenif his salary increases after few days or months. but only case is that he should transfer his PF account by submitting form No. 13 when switching to new company. if he does withdrawal and reapplies in next company then he comes under defination of exempted emloyee but if his next employer is willing to open his new PF account then PF office accepts , it gives importance to employers will because PF office assumes that employer is doing it for wellbeing of employee ( but no legal obligation on employer in this case).
Please correct me if i am going wrong.
From India, Mumbai
Hi Seniors Please Suggest me, The P.F Contribute is Emploee 12% & Employer 12%, Who can Contribute the EDLI Charges, EPF Admin Charges & EDLI Admin Charges. Sujit
From India, Delhi
From India, Delhi
Hi Sujit EDLI, Admin Charge and EDLI Admin charge will contribute by Employer this is the employer responsibility.
From India
From India
Dear Seniors,
Please suggest me if one employee compleate in 10 years service and his basic is 5000/- per month how many withdraw his penson from PF Office and get some knowldge regarding EPS.
Thanks and regards
Sujit Jena
From India, Delhi
Please suggest me if one employee compleate in 10 years service and his basic is 5000/- per month how many withdraw his penson from PF Office and get some knowldge regarding EPS.
Thanks and regards
Sujit Jena
From India, Delhi
Dear Sujit Ji,
You have not mentioned your age in your query, friend. Pension under EPS 1995 is payable only after completion of 58 years of age. Before 58 years, one may opt for reduced pension which is calculated @ 4% less for every year short of 58 years and that too only after completion of 50 years of age. However one has option to claim pension after completion of 58 years of age. The other option is to obtain scheme certificate for the past service and apply for the benefits when other service is also rendered during subsequent career. Please provide details of your present age and also whether there is any possibility of your taking up another suitable job. Pension fund cannot be withdrawn in normal case. One can apply for return of capital. But your full details are necessary for correct advice. Thanks and regards
From India, Pune
You have not mentioned your age in your query, friend. Pension under EPS 1995 is payable only after completion of 58 years of age. Before 58 years, one may opt for reduced pension which is calculated @ 4% less for every year short of 58 years and that too only after completion of 50 years of age. However one has option to claim pension after completion of 58 years of age. The other option is to obtain scheme certificate for the past service and apply for the benefits when other service is also rendered during subsequent career. Please provide details of your present age and also whether there is any possibility of your taking up another suitable job. Pension fund cannot be withdrawn in normal case. One can apply for return of capital. But your full details are necessary for correct advice. Thanks and regards
From India, Pune
Dear Sir, Thaks for your advaice, My Full Details are as follows I am 27 years My basic salary is 5000/- PM Now i geting knowdge what is the claculation of of penson in PF. Sujit Jena
From India, Delhi
From India, Delhi
Hi all,
I work for a mid size software company in Chennai.
I have a clarification on one of the issue happened recently to us with regards to PF
We recently received a summon from the PF office for not paying PF appropriately. and asked to present a list of documents to them. But to my knowledge we did paid all the contribution correctly.
When went there with the documents, they said that we are calculating the Basic wrongly for example(the employees who are making 12000 as salary and their basic is 40% (as per our company policy) which is 4800 but they PF officer instead said that we have to make the basic as 6500 for people whos basic is less than 6500 and for people who are earning 6500 or less should make their entire salary as basic). Asking us to do the adjustment for past one year and pay the remaining contribution. As you know in IT industry half of the employee worked last year is not present this year.
Can any one tell me is this the common norm that we follow, is there any rule or notice issued for this ? or how should i approach this.
Regards,
Vasanth Raja
(msgvasanth@yahoo.co.in)
From India, Madras
I work for a mid size software company in Chennai.
I have a clarification on one of the issue happened recently to us with regards to PF
We recently received a summon from the PF office for not paying PF appropriately. and asked to present a list of documents to them. But to my knowledge we did paid all the contribution correctly.
When went there with the documents, they said that we are calculating the Basic wrongly for example(the employees who are making 12000 as salary and their basic is 40% (as per our company policy) which is 4800 but they PF officer instead said that we have to make the basic as 6500 for people whos basic is less than 6500 and for people who are earning 6500 or less should make their entire salary as basic). Asking us to do the adjustment for past one year and pay the remaining contribution. As you know in IT industry half of the employee worked last year is not present this year.
Can any one tell me is this the common norm that we follow, is there any rule or notice issued for this ? or how should i approach this.
Regards,
Vasanth Raja
(msgvasanth@yahoo.co.in)
From India, Madras
Dear Sujit Ji
If you have already withdrawn your PF dues, please apply for issue of scheme certificate and preserve it till you attain 58 years of age. When you apply for pension on superannuation, submit the scheme certificate along with your application in form 10 D. You will get benefit of your past service then.
If you have not yet withdrawn your PF yet, please do not withdraw it. When you take up some other better assignment, continue the present account irrespective of break period. You will get the benefits of continuation of accounts, both PF as well as EPS. Preserve accounts slips invariably. Thanks & regards
From India, Pune
If you have already withdrawn your PF dues, please apply for issue of scheme certificate and preserve it till you attain 58 years of age. When you apply for pension on superannuation, submit the scheme certificate along with your application in form 10 D. You will get benefit of your past service then.
If you have not yet withdrawn your PF yet, please do not withdraw it. When you take up some other better assignment, continue the present account irrespective of break period. You will get the benefits of continuation of accounts, both PF as well as EPS. Preserve accounts slips invariably. Thanks & regards
From India, Pune
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SC Judgment-No obligation to excess contribution than Statutory Limit.docx
PF Contribution on Leave Encashment - Clarification by EPFO.pdf