Hello Seniors,
I Have a question, If I know how much my company deducted PF from my salary, than can i calculate my PF account Balance?, Please let me know,
For Example, If i am deducting Rs.500/- for PF than after 2 years of deductions how much my account balance, please help in this content.
regards,
Suriya
From India, Coimbatore
6I Have a question, If I know how much my company deducted PF from my salary, than can i calculate my PF account Balance?, Please let me know,
For Example, If i am deducting Rs.500/- for PF than after 2 years of deductions how much my account balance, please help in this content.
regards,
Suriya
From India, Coimbatore
Dear Suriya,
Assuming that you are deducting Rs. 500/- from employee and equal contribuution from employeer every month for next 2 years, your pf balance would be as follows:
Employee Contribution: 500*24=12,000/-
Employer Contribution towards Pension:500*8.33%=42*24(no. of months)=1,008/-
Employer Contribution towards PF:500-42=458*24=10,992/-
Hence the total amount will be equal to Rs. 24,000/- (Excluding the interest on the same given by PF office)
Hope this will solve your query.
Surya
From India, Pune
Assuming that you are deducting Rs. 500/- from employee and equal contribuution from employeer every month for next 2 years, your pf balance would be as follows:
Employee Contribution: 500*24=12,000/-
Employer Contribution towards Pension:500*8.33%=42*24(no. of months)=1,008/-
Employer Contribution towards PF:500-42=458*24=10,992/-
Hence the total amount will be equal to Rs. 24,000/- (Excluding the interest on the same given by PF office)
Hope this will solve your query.
Surya
From India, Pune
Thanx for your reply Senior, i have a doubt 500*8.33%=42*24(what is this 42 please let me know) Regards, Suriya
From India, Coimbatore
From India, Coimbatore
Dear surya
I gone through the answers given by sombody regarding calculation
of pension they have taken pension amount on Rs. 500 x 8.33%. in
this case it is not correct. pension amount will be calculated on basic
amount x 8.33%.
If there is a deduction of Rs. 500/- towards pf contribution. in this case your basic salary would be Rs. 4167/- (4167 x 12% = 500/-)
Employee's contribition = 500 x 24 months = 12000/-
Employers' contribution:
t/w pension (4167 x 8.33%=347 x 24 months = 8328/-
t/w EPF (500-347 = 153) 153 x 24 months = 3672/-
In this case your EPF balance will be (12000+3672) = 15672/-
& pension amount balance will be = 8328/-
pl note that above balance are not included interest amount.
I think this information will be clarify your doubt.
bachi reddy
I gone through the answers given by sombody regarding calculation
of pension they have taken pension amount on Rs. 500 x 8.33%. in
this case it is not correct. pension amount will be calculated on basic
amount x 8.33%.
If there is a deduction of Rs. 500/- towards pf contribution. in this case your basic salary would be Rs. 4167/- (4167 x 12% = 500/-)
Employee's contribition = 500 x 24 months = 12000/-
Employers' contribution:
t/w pension (4167 x 8.33%=347 x 24 months = 8328/-
t/w EPF (500-347 = 153) 153 x 24 months = 3672/-
In this case your EPF balance will be (12000+3672) = 15672/-
& pension amount balance will be = 8328/-
pl note that above balance are not included interest amount.
I think this information will be clarify your doubt.
bachi reddy
Dear Mr.Bachi Thanks a lot for your explanation, You explained in a nice manner, Can you tell me how can we reimburse our Pension Account Amount. Regards, Suriya
From India, Coimbatore
From India, Coimbatore
Hi supriya
You can withdraw ur pf amount. contact ur Hr or concerned whoz handling the issues. they will give you the withdrawal forms, you can fill them and they will submit to the concerned pf office.
u will get ur amount to your bank account within 1 month or so.
Regards
Navya
From India, Hyderabad
You can withdraw ur pf amount. contact ur Hr or concerned whoz handling the issues. they will give you the withdrawal forms, you can fill them and they will submit to the concerned pf office.
u will get ur amount to your bank account within 1 month or so.
Regards
Navya
From India, Hyderabad
Hi Suriya,
At the time of withdrawal, one has to feel two forms,
1. Form No. 19
2. Form No. 10-C
Form 19 is for withdrawal of PF amount and Form 10-C is for withdrawal of Pension amount.
Dear Bachhi,
Thanks for the correction.
Regards,
Surya
From India, Pune
At the time of withdrawal, one has to feel two forms,
1. Form No. 19
2. Form No. 10-C
Form 19 is for withdrawal of PF amount and Form 10-C is for withdrawal of Pension amount.
Dear Bachhi,
Thanks for the correction.
Regards,
Surya
From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
PF Amount Balance Check.xls
TDS ON PF-EPFO circular reg. TDS on Accumulation of Balance in UAN Ac..pdf