Hi there, I have lots of questions to ask about EPF transfer. I hope someone can provide the answers. I'll try to be precise and short so it does not look like an essay.
Job Profile:
1st Job: Company ABC - Aug 2005 to Sep 2007 - Regional EPF
2nd Job: Company LMN - Sep 2007 to Nov 2010 - Regional EPF
3rd Job: Company XYZ - Dec 2010 to Apr 2011 - XYZ Own Trust
4th Job: Company PQR - Apr 2011 to till date - Regional EPF
All my EPF accounts have not been transferred or withdrawn. I have the following questions:
(1) I left my first Company ABC in Sep 2007. Until when did I receive interest in that EPF account? I believe it is paid for three years from the last addition to the PF account.
(2) I know that 12% of the basic is the employer's contribution, which is further divided into 8.33% and 3.67%. The 8.33% goes into the Pension Scheme and 3.67% goes to PF. When I submitted form-13 to transfer my EPF lying in Regional EPFO of Company ABC and LMN to PQR, what will happen to the amount lying in the Pension scheme? Will it be transferred along to the new account?
(3) For Company XYZ, where they have their own trust for EPF and allotted me two account numbers, one for PF and one for the Pension Scheme. How can I get it transferred to my new EPF account, which is with Regional EPFO? Does the transfer take place for both (a) PF amount and (b) Pension Scheme amount?
(4) I inquired from RPFO through SMS regarding the amount lying in Company ABC and got the reply with intended information. But I am confused to find that there is a big difference between employee and employer contributions. Approximately, the employee contribution is 2.11 times more than the employer's contribution. I believe both should be the same. If it is different due to 8.33% going to the Pension Scheme, then too I am confused because there is no separate account number given to me as the Pension Scheme by RPFO. Where is that 8.33% going?
(5) If I opt to withdraw all previous companies' EPF, then what will happen to the amount lying in the Pension Scheme? What if I opt to take a Pension Certificate instead? What are the losses (apart from losing future savings) if I withdraw? Will the entire amount withdrawn become taxable?
I know these are lots of questions, but I couldn't find their answers anywhere already posted online.
Thank you,
MD
From United States, Englewood
Acknowledge(0)
Amend(0)
Job Profile:
1st Job: Company ABC - Aug 2005 to Sep 2007 - Regional EPF
2nd Job: Company LMN - Sep 2007 to Nov 2010 - Regional EPF
3rd Job: Company XYZ - Dec 2010 to Apr 2011 - XYZ Own Trust
4th Job: Company PQR - Apr 2011 to till date - Regional EPF
All my EPF accounts have not been transferred or withdrawn. I have the following questions:
(1) I left my first Company ABC in Sep 2007. Until when did I receive interest in that EPF account? I believe it is paid for three years from the last addition to the PF account.
(2) I know that 12% of the basic is the employer's contribution, which is further divided into 8.33% and 3.67%. The 8.33% goes into the Pension Scheme and 3.67% goes to PF. When I submitted form-13 to transfer my EPF lying in Regional EPFO of Company ABC and LMN to PQR, what will happen to the amount lying in the Pension scheme? Will it be transferred along to the new account?
(3) For Company XYZ, where they have their own trust for EPF and allotted me two account numbers, one for PF and one for the Pension Scheme. How can I get it transferred to my new EPF account, which is with Regional EPFO? Does the transfer take place for both (a) PF amount and (b) Pension Scheme amount?
(4) I inquired from RPFO through SMS regarding the amount lying in Company ABC and got the reply with intended information. But I am confused to find that there is a big difference between employee and employer contributions. Approximately, the employee contribution is 2.11 times more than the employer's contribution. I believe both should be the same. If it is different due to 8.33% going to the Pension Scheme, then too I am confused because there is no separate account number given to me as the Pension Scheme by RPFO. Where is that 8.33% going?
(5) If I opt to withdraw all previous companies' EPF, then what will happen to the amount lying in the Pension Scheme? What if I opt to take a Pension Certificate instead? What are the losses (apart from losing future savings) if I withdraw? Will the entire amount withdrawn become taxable?
I know these are lots of questions, but I couldn't find their answers anywhere already posted online.
Thank you,
MD
From United States, Englewood
Acknowledge(0)Amend(0)
I will try to answer your queries in the same format:
1. As per the latest EPFO communication, you will receive interest until the time your PF account was active. For example, interest accrued in Company ABC will cease to attract interest from September 2007. (This is my understanding of the latest PF communication, but I advise you to cross-check the information with the PF office near you.)
2. Your pension amount will also get transferred to your PF account in Company PQR.
3. Company XYZ will have two account numbers because PF is maintained by their PF trust, but the pension amount will be with the Regional PF office. You can transfer both your PF account and pension account to your new account by applying for a transfer using Form 13.
4. The pension account maintained in the Regional PF office will bear the same number as your PF account.
5. Not sure...
I also had a similar case of transferring PF from a covered establishment to an exempted establishment and back to a covered establishment, so I faced the same kind of situation.
Regards,
Gautam
From India, Pune
Acknowledge(0)Amend(0)
1. As per the latest EPFO communication, you will receive interest until the time your PF account was active. For example, interest accrued in Company ABC will cease to attract interest from September 2007. (This is my understanding of the latest PF communication, but I advise you to cross-check the information with the PF office near you.)
2. Your pension amount will also get transferred to your PF account in Company PQR.
3. Company XYZ will have two account numbers because PF is maintained by their PF trust, but the pension amount will be with the Regional PF office. You can transfer both your PF account and pension account to your new account by applying for a transfer using Form 13.
4. The pension account maintained in the Regional PF office will bear the same number as your PF account.
5. Not sure...
I also had a similar case of transferring PF from a covered establishment to an exempted establishment and back to a covered establishment, so I faced the same kind of situation.
Regards,
Gautam
From India, Pune
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PF & Pension Amdmt Scheme 2010 for IW.pdf
Steps to transfer PF amount.jpg
EPF Pension.xls