Dear friends, Pl refer attached circular dated 11.2.2014 on the subject. Thanks
From India, Malappuram
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1454From India, Malappuram
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Hi, I worked with my previous company for 20 months. After leaving the company, I applied for EPF. I received my PF, but the amount was not as expected by me. So, I just wanted to know how this is possible.
From United Arab Emirates, Dubai
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From United Arab Emirates, Dubai
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Dear Sumit,
You have very well laid out the benefits an employee receives once they leave employment. Only two points need to be mentioned herewith. First, the period of service in question here is 20 months and not 20 years. Secondly, the addition of two years of service is possible only under the provisions of the Employees' Pension Scheme 1995. Therefore, it will come into effect only for those employees who have rendered continuous service of 20 years after its launch on 16.11.1995, i.e., after 16.11.2015 passes by. It's important to note that no period of previous service (i.e., worked under the old Employees' Pension Scheme 1971) is counted for availing this additional two years of service.
Sincerely,
Amit Kumar
From India, Delhi
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You have very well laid out the benefits an employee receives once they leave employment. Only two points need to be mentioned herewith. First, the period of service in question here is 20 months and not 20 years. Secondly, the addition of two years of service is possible only under the provisions of the Employees' Pension Scheme 1995. Therefore, it will come into effect only for those employees who have rendered continuous service of 20 years after its launch on 16.11.1995, i.e., after 16.11.2015 passes by. It's important to note that no period of previous service (i.e., worked under the old Employees' Pension Scheme 1971) is counted for availing this additional two years of service.
Sincerely,
Amit Kumar
From India, Delhi
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PF Arrears Calculation July 12.xls
SC on interest on PF arrears 18.10.13.pdf