Hi. Please help me with the below queries. I have worked with an organization for 6 years where I was entitled for both EPF and EPS. I have two PF numbers as this was resulted due to change in company name and PF transfer could not be done while I was in service with this organization.
Recently I quit this company and joined another company where PF is handled by a Trust. While providing the declaration (PF declaration form -11) I wrongly interpreted the column ( "WHETHER EARLIER A MEMBER OF THE EMPLOYEES’ PENSION SCHEME, 1995?") and chose "NO" as my answer BUT this should have been "YES" since I was part of EPS in my previous company. Here goes my questions.
1. I approached my current organization for modifying the declaration form but it was denied as it could cause compliance issue. Is there any work around to have this changed?.
2. Due to the absence of EPS account how do I go about and transfer my previous company EPF/EPS contributions?
3. Can I transfer ONLY my EPF from my previous company and withdraw EPS as there is no EPS account in my present company to which I can transfer.
4. I have given the same UAN number hence withdrawal may not be feasible. Can i go and approach PF office to withdraw considering this as a special case scenario.
5. Can we transfer both EPF and EPS from previous company to the EPF account of present employer.
Please help me with this
Thanks
From India, Bengaluru
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1Recently I quit this company and joined another company where PF is handled by a Trust. While providing the declaration (PF declaration form -11) I wrongly interpreted the column ( "WHETHER EARLIER A MEMBER OF THE EMPLOYEES’ PENSION SCHEME, 1995?") and chose "NO" as my answer BUT this should have been "YES" since I was part of EPS in my previous company. Here goes my questions.
1. I approached my current organization for modifying the declaration form but it was denied as it could cause compliance issue. Is there any work around to have this changed?.
2. Due to the absence of EPS account how do I go about and transfer my previous company EPF/EPS contributions?
3. Can I transfer ONLY my EPF from my previous company and withdraw EPS as there is no EPS account in my present company to which I can transfer.
4. I have given the same UAN number hence withdrawal may not be feasible. Can i go and approach PF office to withdraw considering this as a special case scenario.
5. Can we transfer both EPF and EPS from previous company to the EPF account of present employer.
Please help me with this
Thanks
From India, Bengaluru
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1. Your current organization has taken an incorrect stand, it appears. As regards all post-1973 EPF members, there is no choice available to opt out of EPS, and you could not be a pre-1973 appointee continuing still in service. There is no time period prescribed for continuance in EPS, particularly after the clarification given in the Supreme Court judgment in the RC Gupta matter. Depending on the time period that has lapsed after the error has been committed, the more time it will take to resolve the matter.
2. The transfer of PF is not affected by your continuance/discontinuance of EPS. Indeed, from the PF contributed by your employer, 8.33% goes to EPS maintained by the local PF Office, and it has to continue to be so even after you have joined the EPF Trust. The Trust has control over only your PF accumulation, and the EPS has to continue with EPFO. In the absence of EPS going to EPFO, the entire employer contribution also goes to your PF accumulation. Please check this. Now they have to reverse the entry and apportion from the employer contribution 8.33% of the wages into the EPS account and deposit it with EPFO, and only the remaining amount can be adjusted/added to your PF accumulation.
3. The aforesaid circumstance does not permit withdrawal of accumulation. But you have to approach the local EPFO organization and bring this anomalous position to their notice.
4. EPF accumulation can be transferred subject to the formalities in this regard. There is no transfer of EPS account as it has been standardized, and you have a unique number generated during previous employment which can be continued.
From India, Mumbai
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2. The transfer of PF is not affected by your continuance/discontinuance of EPS. Indeed, from the PF contributed by your employer, 8.33% goes to EPS maintained by the local PF Office, and it has to continue to be so even after you have joined the EPF Trust. The Trust has control over only your PF accumulation, and the EPS has to continue with EPFO. In the absence of EPS going to EPFO, the entire employer contribution also goes to your PF accumulation. Please check this. Now they have to reverse the entry and apportion from the employer contribution 8.33% of the wages into the EPS account and deposit it with EPFO, and only the remaining amount can be adjusted/added to your PF accumulation.
3. The aforesaid circumstance does not permit withdrawal of accumulation. But you have to approach the local EPFO organization and bring this anomalous position to their notice.
4. EPF accumulation can be transferred subject to the formalities in this regard. There is no transfer of EPS account as it has been standardized, and you have a unique number generated during previous employment which can be continued.
From India, Mumbai
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