965 Responses
Hello Sir,
I have changed job in middle of financial year (September) and I got PF account (balance & interest so far )transferred to new PF account on January. Since there is some interest also transferred on January, will there be interest paid for rest of the months (Jan,Feb,Mar) after the end of financial year.
Thanks,
ViswanathDear Viswanath,
Yes.
Dear sir, i worked straight 7years in A company and getting compounded interest which is the basis of PF account. Now i am changing to B company then if i will tranfer my balance from A to B then it will assume as a opening or tranfer balance , so when next year calculation happen then IS IT calculate with all past 7 years compoundedly OR just start as a new year … IF it consider as a new year this means system picks Simple interest ……..If it not considered as compounded then i think i will leave my balance in previous company only to get benefit.of compound interest for all 7 years.. Is this a right thing ?
Dear Sudhanshu,
Compounding works on all your balance. So no worries.
EPF withdrawal
================
I have a query related to EPF withdrawal. I worked in a company for 11 years and then left without withdrawing my EPF and EPS. This was May 2015. I haven’t worked for any other company since. I am right now 55 yrs old (as on Dec 2020). The EPF was held all these years in a private trust run by my last employer. I am confused about some of the rules around EPF a/c becoming inoperative. Please help me understand the following:a) If I continue to keep this EPF a/c till my age of 58, will I get interest every year for the next 3 years?
b) If someone is 55 yrs of age (and is not working) and does not withdraw the EPF in the next 36 months, the EPF a/c becomes inoperative after attaining age of 58 yrs. I read this somewhere. But I have my EPF account since May 2015 (without any contributions as I am not working since that time) so will my 36 months get counted from May 2015 onwards?
c) But I have got interest in my EPF a/c till Apr 2021, hence it is not yet inoperative. Question is will it become inoperative any time now or in near future? I want to keep the account till I attain the age of 58 yrs and then withdraw the whole amount. Or the a/c will not become inoperative till I attain age of 58 yrs.Please reply soon.
Thanks so much.
Mukul.
Dear Mukul,
Refer my post “Old Inactive EPF Account – Should you withdraw or continue?“.Thanks Basu.
to my c) question above, my EPF a/c will not become inactive till I complete 58 yrs. Is that correct interpretation?
Best,
Mukul.
Dear Mukul,
Yes, but interest is taxable for any such non-contributory accounts.
Dear sir,
I claim my total pf and pension withdrawl request on 4th march 2021, can I get my interest for this year 2021.
I left job on 30 Oct 2017. Is this account will inoperative from 2020 or I can get interest for year 2020 – 21.
Please suggest or I have to cancel my claim for getting interest of this year.Dear Tapan,
Yes, you will get it. But it is taxable.
Dear Sir, I worked for a company A from April 13 to April 18. i was not on job after that and i didnot withdraw the epf amount.
in Sept 2019, i joined a company B under which pf is getting deducted. Both accounts are under same UAN.For the company A, i understand that after 36 months interest will not get credited so i am trying to with draw it as i didnot transferred.
Questions:
1.) Can i withdraw the money before or after account getting inoperative (Company A)?
2.) If i transfer amount to company B, then will the interest start coming for Company A epf amount even after 36 months are over.Kindly let me know what would be best way to get money without loosing interest
Dear KK,
If both the accounts are under a single UAN and you are still working means you are not allowed to withdraw but can only transfer.Thanks Sir,
I also bought one property this month on my wife’s name. Can i withdraw some percentage for house/property bought scenario.Also, pls tell will i be getting interest on transferred amount to Company B even after completing 36 months.
Thanks a lot again.
Dear KK,
If you already owning a house and purchasing one more means it is not allowed.Thanks Sir,
Awaiting your response for below.Also, pls tell will i be getting interest on transferred amount to Company B even after completing 36 months given that there is a gap between Company A and company B.
Dear KK,
Refer the above post properly.
Hello,
What is OB Adjustment- ( AUTO APPENDIX BACK PERIOD )- IPR(Back Period) and OB Adjustment- (INTEREST )- IPR(Back Period) ?Is this kinda deduction that will happen once I withdraw my PF and pension? Your reply would mean a lot.
Dear Pooja,
I am also hearing it first time!!For me also around 50+ transaction happened recently .Around 35K deducted
Particular: B Adjustment- ( OTHER_INTEREST )- INT AMT AUTO ADJ TRRNO #~#3101602008775 MMYYY:22016 REJECTED AA EMP REQUEST.@Pooja Did you get any solution for this.
Dear Jajati,
Rather than asking Puja, approach the regional EPFO or raise an issue with EPFO Grievance Cell 🙂Same here my last org PF amount of 40K got all deducted and now my previous balance is -7K. they deducted around 47k in 50+ transactions
SAME HERE , i also got same thing , what is the solution for this, i lost 1.5L.
Dear Manish,
Refer the reply.
hello sir,
First, I want to congratulate you for the rise.
Second, plz try to keep doing such good job as people in india need it always.
Third , we know u r a busy person bt try to revert the queries soonest as it is all finance nd it should be resolved in time line of the due time the person has. ?
KEEP RISING BY HELPING…
Dear Baldeep,
Thanks for your appreciation 🙂
If the contribution of 5 months of year 2010-11 was filed on 05-08-2017, then calculation of interest will be done from 2010-11 or from 05-08-2017? please answer.
Dear Sir,
I see there is some discrepancies in interest calculation in my PF account. Could you please let me know who should I contact to get this clarified/resolved. I don’t see any such category in their grievance section.Thanks.
Dear Krishna,
Approach the regional EPFO.
Hi Basava,
I have quit my job in 2017dec after working 20 months and moved to new one in March ’18.
Got a new account of pf under same UAN.
When I have seen passbook,
Previous account has no interest amount added for both the years(16-17,17-18)
Current one is updated with one interest amount addition for 18-19, which is calculated based on 18-19 contributions. However the interest rate is 5.54% ( cumulative calculated).I have three questions.
1. Is there anything as a clause of not getting interest?
2. Will the accumulated amount in first account yield interest every year even after moving to New job?
3. Will interest % change as per employer? if not can the reduced interest can be put in grievance?Sorry to bother you, but I have seen you responding to all queries. Which is a great act of helping people.
Cheers and TIA.
Dear Kalyan,
1) NO.
2) Yes.
3) It is uniform.Thank you.
Have raised a grievance.
Let’s hope the result would be positive.
I was terminated from my job in Nov 2018 and since then I am not working. I will be 58 Yrs this Apr ( 2020). I have left my EPF continue to be in the PF Trust of my previous company and have not withdrawn the amount yet. I have seen in one of your other post that the interest which is getting accrued in the PF will stop once we reach 58 Yrs and will become inactive. Is that correct that my PF interest will stop when I reach 58 years ?
Also will there be TDS on interest after my termination date ?Dear Kuthudu,
Yes, interest earning will stop post 58 years of age. TDS will be applicable if your EPF account is less than 5 years old.as i know interest will add next three years after retirement up to age 61 but this interest will taxable.
Dear Puran,
Yes.
i have 127000 in total in my pf account. what will be happen to the interest if i withdraw before 31 march 2020? please suggest me should i claim now or after addition of interest in march/april?
Dear Updesh,
Interest will be payable on pro-rata basis. Hence, you no need to worry.
Hi Basavaraj,
On 5th July 2018, my PF accumulation Rs 251617 (help in Trust) was transferred (via NEFT) to effect regional office to new employer. My new employer received this amount on 12th dec 2019 and same was updated in my PF passbook while EPS service and amount was settled on 26th Feb 2019 as per PF transfer status. My concern point is who is liable to pay me interest for the period FY 2018-2019 and 2019-20 till 12th Dec. As per my understanding, i should have received both principal and interest amount together.Dear Sunil,
EPFO.So EPFO will give interest for both the period FY 2018-19 and FY 2019-20 combined in Apr’20 ?
Dear Sunil,
Yes.
Anyone else was wondering how he was able to answer each and every question posted here for last 6 years for this single post ? It needs immense dedication Mr Basavaraj! Congrats and Keep up the great work by helping the investment community ! God Bless Your Service !
Dear Krishnasamy,
Thanks for your kind words.
My employer has not paid my salary for last 08 months neither has he deposited the epf amount deducted from my salary or his contributions. I mean concerned that will I get the interest on the balance amount in my of account. Kindly help me.
Dear Kapoor,
Raise an issue with EPFO Grievance Cell Online.
I have not received the 1st Month PF deduction after my joining, What is the best i can do here, Please suggest, They have deducted in my Pay slip the amount already.
Dear Kumar,
Approach the employer.
Hi Basavaraj,
Til June 2016 my EPF balance is 143015 ( held in trust and transferred to effect regional office to new employer) ..including interest.and another 50000 till March 31st 2017.Total empire accumulated was 193000approx..But I received interest only 1500 approx for whole year… But 8.55% compounding of 193000 should’ve more interest right?.also in Till March 2018. Accumulated interest only 15k…What’s logic… Why they giving very low negligible interest in passbookDear Srikanth,
Raise an issue with EPFO Grievance Cell Online.
Hi Basavaraj,
Our company registered in EPFO on April 2018. Also started deducting PF from salary from april month. But in PF statement It is showing first entry as “Cont. For 052018”Dear Abhijit,
This you have to check with your employer.
Do i get interest on PF if there is a gap of one month in a financial year.From 1.4.17 to 27.07.18 I do not get any interest and there is a gap of submission of EPF money in July 2017 month in my account.
Dear Surendra,
Yes you have to get.
Dear Basavraj,
Due to job change, if the PF amount is transferred from the old account AC1 to a new account AC2 in July2018, how will the interest be calculated for the year Mar2018 to Feb2019? I am clear about interest calculation on AC2 that got created in July and old PF balance credited in July2018. The interest will be calculated on monthly balance and credited in Mar2019.What will happen to the interest on the amount that was in AC1 from Mar2018 to Jun2018. Since after AC1 is closed due to transfer out, how wil the interest be credited in Mar 2019?
Reg,
VivekDear Vivek,
I am not sure what is your doubt. But it is considered as usual.My question is that the old PF account will have funds from Mar2018 to July2018 and it is closed after the new Pf account is opened. So how will I get the interest on the funds from Mar2018 to July 2018 as the AC1 is already closed when interest is calculation is done in Mar2019.
Dear Vivek,
It is closed for YOU but not for EPFO. The interest will be calculated as usual.Hi Basavaraj,
Thanks for the reply.
Does this means that the interest is calculated for the old account( for the duration till it is closed) and the interest is credited to the new account?Dear Vivek,
YES.
I was salaried person till Oct-2017. After then I am self employed. I want to remove my provident Fund. But before that I would like to clarify the following doubts.
1) Is provident fund amount (Employer share+Employee share+ Interest on both Employee and Employer) which I will be getting Tax-free ? Note that I am not talking about TDS deduction by PF office but it is w.r.t to filing return.
2) If I do not want to withdraw PF then for how long this account will be active. Interest will also get earned during this period?
3) Is interest earned during this period taxable or tax-free (i.e interest earned after my employment to my PF account).Dear Chandrakant,
1) It is taxable if your service period is less than 5 years.
2) and 3) Refer my post “Tax on EPF after resign, retire or terminated“.
Hi , ishvar already applied for pf and it has been settled. I wanted to know will I receive the interest for it separately. If yes, how long does it take to get it . I got my pf settled on 11th mar 2018.
Yadhoda-I think you received interest also. If you have doubt, then contact EPFO.
Sir,
When interest (2017-18) will be reflected in member passbook.
please updateDear Bij,
May be within a month or two.
I chose this plan because it provides tax free returns & after 25 years double the amt that I have invested.
Please do correct me if I am wrong
pls advise can I go in for this plan :
https://www.maxlifeinsurance.com/savings-and-income-plans/monthly-income-advantage-plan
Irshad-What prompted you to select this plan? What is your requirement?
because I want to relook insurance as an investment.
Irshad-INSURANCE AS AN INVESTMENT?? Then go ahead any plan of your choice 🙂
I would like to take the insurance scheme : Max Life Monthly Income Advantage Plan. Can you please give me the feedback on the same ? Is it worth investing this scheme ?
Irshad-If your intention is to go for INSURANCE, then why you are going for INVESTMENT plan?
Hi Basava,
By which date in the year, will the Interest on PF be credited to the EPF account.
Regards
SriniSrini-I mentioned that also in above post. Please refer the same.
Hi Basavraj,
can i remove my previous company pf if days between my previous company date of leaving and new joining company
is 15 days only or is it necessary to show 2 months employment from previous company date of leaving?thanks..
Vipul-Who told you that you MUST show 2 months of employment?
Hi basavraj,
sorry for the mistake, i mean to say 2 months of unemployment?
Vipul-Is it for withdrawal or transfer?
For withdraw….
Vipul-If it is for withdraw then you have to be out of job for at least 2 months.
Hi sir,
First of you all, I would like to thank you for all your efforts and sharing your knowledge with us, I truly appreciate.
Sir actually I am getting married and with very obvious reasons need some financial support so I am planning to withdraw my pf money. Can you please guide me with the procedure and would also request you to guide if it is advisable to withdraw.
Abhi-Please be in touch with your employer or regional EPFO.
Hi Basava,
I heard from my colleague today that the interest received on EPF is not on the entire amount but only on a specific years.
Is that true or is the interest we receive on the entire amount of PF accumulated?
Please clarify…
Thank in advance.Siddhartha-You will receive the interest on whole accumulated amount.
Thank you Basava!!!
Dear sir,
I have two UAN nos. And two PF accounts. One from last job and the other one from my current job.
It’s been 3 years of me leaving the last job and I have not been able to transfer the money. Also my name has been spelt wrong in my last PF account.
How do i transfer the money.
Secondly, where do i see the interest calculated on my last account.
Thirdly, in my current PF account there has been zero deposit although my employer deducts that from my salary. Is there a way i can file a complain and get this sorted.Prashant-Raise your issues with EPFO Grievance Cell Online.
Hello sir,
1. my previous company settled PF balance on 11th Jan 2018 but they did not pay interest for period 01-dec-2017 to 31-Dec-2017 saying that to get this interest, fund has to be with trust till 25th jan 2018 to be eligible.
is this really a rule set by RPFC ? in this case, contributors will always loose one month interest.2. my currently employer got the cheque on 18th Jan 2018 and they deposited to RPFC on 27th Jan 2018 what will happen to January month interest who will pay for it ?
Anurag-1) Interest has to be credited on pro-rata basis. I think they are misguiding you.
2) The earlier employer has to pay the interest.
HI is possible to withdraw partial amount in PF account for medical tretment?
Syed- Yes.
Dear Sir,
I am Kapil from Bengaluru.
I have faced this ‘interest’ing problem twice during PF transfer now. I see there is always a loss of 1 month of interest loss during transfer. In both the cases the transfer happened on same date, i.e 6th February. The transferor(RPFC) computed interest for 10 months(i.e April till January) and the transferee(PF Trust) credited interest for the transferred amount only for the month of march, stating that the interest for running balance (in feb) is credited in succeding month. That meant that the transferee (EPFO) should have credited 11 months interest(i.e Mar till January) before transfering the amount.2 years fast forward, the same problem happened this year, only that transferor is PF trust and transferee is RPFC. Transfer happened on 13-Feb and the transferor(PF trust) has happily added only 10 months interest. I am pretty sure that Transferee is going to add only 1 month interest to the transferred amount this year.
Multiple RTIs and emails yield no result as most of the employees/accounts personnel are clueless and they claim there is no loss of interest. But still cannot explain the 1 month loss of interest. Not sure what to do if you are changing jobs!
Kapil-Raise an issue with EPFO Grievance Cell Online.
Dear Sir,
Thanks for helping PF subscribers with your deep understanding on PF Act laws.
I have run into similar issues. My company got split in in April 2017, and PF corpus got transferred to new entity ( with new PF establishment code) on 4th July 2017. The new PF trust says they are paying interest from succeeding month (ie Aug 2017) as per PF law. The old entity says they have transferred corpus with interest upto 30th June 2017. Is it really a case of grey area in PF law that neither party is ready to pay interest for month of July 2017.
Please guide me. My PF money is with private PF trusts, so am quite worried.
Regards,
Ash*t SinghDear Ash*t,
It is indeed the grey area of the law.
Hi Sir i have applied my pf money through online and got Rejected .Claim-Form-31 (EPF Advance)(Illness) Claim id-TNMAS180350007542 Member id-TNMAS00508440000013802 has been rejected due to :- CONTRIBUTION RECEIVED UPTO 11/17 ONLY/OK…I dont understand the reason they provided can you please explain me sir..
Whether Can i Reapply??Regards
Magesh MMagesh-Not sure and hence better to contact EPFO.
Hello , i would like to know that i have applied for epf withdrawal , as interest not calculated or updated , will i be getting the interest on pro rata basis from 1st april till the date I applied for withdrawal? And second query , will i be able to get the entire amount of EPS (not being 10 years of service as yet )
Ashish-Interest will be on pro-rata basis. You will get part of EPS as per Table D.
What is table d ? I have no clue on this , lets assume that pension contribution is 10000 and i have worked for 2.5 years then , what u think it should be approx ?
Ashish-Refer my earlier post “The complete guide to Employee Pension Scheme (EPS) 1995“.
Hello,
I have a query on PF transfer. My previous employer was an exempted trust and they maintain the PF with themself. when i applied for transfer of fund (upon joining new company which has PF maintained with RPFC) they processed the settlement on 11th Jan but the final cheque they dispatched was only on 13th Feb. which has caused me a loss of 1 month interest. also i saw in statement the interest component is calculated only till November of last year. they are not listening now and not replying to my queried. please help what to do in this case
Anurag-Raise an issue with EPFO Grievance Cell Online.
ok. i will do that. thanks
is their any further escalation point if RPFC also don’t take interest in this matter due to a private trust ?Anurag-Just wait for their reply.
ok. yesterday i have registered a grievance. thanks
Hi Anurag, did you get a satisfactory response from EPFO. I have registered a grievance 10 days ago, but not sure if they will care to respond. regards,Ash*t
1)If I quit JOB and start business after working for 10 years in same company.. Can I withdraw whole amount after 3 months or only EMPLOYEE contribution.
2) I have downloaded EPF passbook, it has 3 components employee contribution, employer contribution and EPF contribution,,, but nowhere it is mentioned about interest ,,, need suggest whether total amount is including interest of 10 years,,, or they will add interest while withdrawl..
Niraj-1) You can withdraw the whole amount.
2) It is total of interest also. If you have any issues, then approach the concerned EPFO.
Dear Sir,
I have a query. Can I check my epf interest in my epf passbook.Akash-Yes.
Dear Sir,
I have a query. As others have also pointed, so far, EPFO has credited interest only up to Mar 2016. The interest for FY 2016-17 is yet to be credited. Now, I am quitting my job and planning to move towards freelance. Hence I plan to withdraw my entire EPF balance. I know that I would be able to withdraw only my contribution plus interest. But what happens to the interest that is due from 2016-17 and also 2017-18 which will be due soon. Will I be losing these interest amount? Or what I should do to get these interest amount when I submit for withdrawal in couple of months from now?
Thanks
RajRaj-They might not updated the details in passbook, but you will get the interest up to the date you withdraw it.
Dear Sir,
Thanks for the clarification. In that case, can you let me know how the interest for FY 2017-18 will be handled? Because, I think the interest for FY 2017-18 is not yet decided. If I withdraw the balance now, what would be the interest that I would be provided for FY 2017-18?
Thanks
Raj
Hi,
I have a query. My EPF account has not received any interest for Fy2016-17 (every year interest gets deposited on 31Mar, but it was not on 31st Mar 2017). On raising grievance, EPF officer responded confirming it is not done as accountfor Fy2016-17 is not finalized , it is will be automaticlaly deposited once account is finalized.
However I have changed job and have a new PF account form my new employer. My question is –
if I transfer old PF balance to my new account, how will interest be taken care of? Will it mean loss of any interest if old PF account is closed after the transfer of balance?
Given it is aleady Feb 2018, I am concerned same thing might happen for interest calculation for current Fy.
Thanks in advance for your help.
regards
K DasDas-There will be no loss of interest for you in case of transfer.
Thanks for the Blog
When i check in the member passbook i am not able to see any interest detail. Where can i see the Interest detail or i will be knowing those detail only if i withdraw
Ananth-It will be available in Passbook. Please cross check.
Till now i am not able to see sir , since it is a compound interest i think interest should be available for every month right
Finally i see int obtained in 31/03/2016 after that i am not seeing any entry for interest in after that specifically for 2017.
is there anyone else got interest updated in member passbook for the year 2016-17.
Ananth-Let us wait for some replies.
Ananth-It is yearly compounding but not monthly compounding.
Hi,
Greetings for the day !
I have left one organization, where I was working as confirmed full time employee, during October 2016. That organization has a private PF trust. Due to certain reasons my Provident Fund transfer request was not sent to previous employer by my new employer. However, old organization has agreed to transfer PF balance in January 2018, however they are crediting only 90 days interest from October 2016 although the entire PF balance was with them for the entire tenor. Please advise if there is any government direction on this and can I claim the interest for entire period from October 2016 to January 2018 from my previous organization. Please guide how to get the interest amount.
Thanks in advance for your help.
Regards
Rajneesh-Better to raise an issue with EPFO Grievance Cell Online immediately.
If i want to withdraw my PF, does it taxable on entire amount (employee contribution + employer contribution + Interest ) or only taxable on interest that i earned in last 2 year on that amount?
Vipul-Only interest earned is taxable.
Thanks basavaraj….
Hi Basavraj,
When i saw my account UAN account, in the passbook showing ( employee+ employer) contribution and plus Pension contribution (EPS) ….so my question can i withdraw this EPS amount and if yes then is it taxable?
Vipul-If your total service is less than 10 years, then you can withdraw and that too part only not fully.
Hi Basavaraj,
In such case , my salary inhand is 15k and total EPS contribution is 1250. Then what amount I get for 2 years period of time.
Vipul-Hard to say by calculating individually.
Hi Basavraj,
Have u know about the superannuation? I joined a new company on 17 Jan and on 31 Jan my salary will credited now, in such case am i eligible for superannuation amount or need to cover a complete month?
Vipul-Hard to say as it depends on Insurance Companies rules. Check with your employer.
Hi Basavraj,
I saw your video on youtube about filling form 15 g.
I worked in my previous company from dec 2015 to jan 2018. so can you please tell What Asssem*nt year should i put on 3 number tab?thanks…
Vipul-If you are withdrawing now, then the applicable AY for you is 2019-20.
Hello Sir,
I am looking at withdrawing my PF , if i withdraw it before April , will i get the interest upto when i withdraw, or i will loose my interest for this year.
Thanks
AnthonyAnthony-You will not loose.
Thanks for the reply, means i will get the interest on pro data basis.
Anthony-YES.
Hello Basavaraj,
I have 2 queries:
1.) I have worked in India for 10 years and now moved to aboard.Can i withdraw my entire PF.
2.) My name has a special character , which is updated in Aadhar , but when i try to link it in EPFO site it does not take special characters, how should i update this.Thanks
AnthonyAnthony-1) YES.
2) Use OFFLINE mode.
You have written a great blog. I have a question. I had my epf account with a trust since May 2010 to September 2014. In September 2014, I switched my job. The new company maintains my epf account with epfo. I transferred all the money in 2015 from the old account to new account. Now, I am trying to take an advance from my epf account balance for purchase of flat through the UAN website, however, the website is showing joining date as September 2014. I want to know:
1. Is the period during which I held my account with epf trust counted in the membership period with epfo?
2. Can I take advance from my epf account balance for the above reason?Deepak-As per me, your earlier job must also be consider to arrive at how old is your EPF. If that not happen, then raise the issue with EPFO Grievance Cell Online.
Thanks for your swift response. Have done that.
Hi. Sir.
I started working in an International Airline since 1st June 2016 with basic salary of 40000/-. My PF deduction from my salary is 3600/- and employer share is also 3600/- including 1250/- as Pension Contribution. I am currently working in the same Airline.
But when I recently checked my PF passbook, I found cont. For 072016 to cont. For 122016 are there.
Then Int. Updated upto 31/03/2017 is 856/- and 559/-.
And then directly it’s mentioned next cont. For 042017 to till cont. For 112017.
Total 52516 // 34719 // 17500.My doubt here is where is the contribution of Jan,Feb,and Mar 2017. Why it’s not there in passbook.
Where is that contribution which is deducted and showing in my payslips of Jan,Feb,Mar2017.Please help me with information.
Thanks alot in advance.
Molay-Hard to say but first discuss this issue with your employer. If they not give you proper solution, then raise the issue with EPFO Grievance Cell Online.
HI,
I had changed my job 7 months back. on 10th Nov.’17, my present company received my EPF check from previous company’s EPF trust. My present company deposited that check to EPFO.
Its been 15 days now, this amount is still not reflecting in my passbook.
Has EPFO not deposited check so far or its not updated in passbook ? Will I loose this month’s interest ?
Rajat-Not sure. But if you have doubt, then raise the issue with EPFO.
hi sir,
I lost my husband 6 months back.He worked for 3 years in his last company and his basic pay was 40,000.What will be the PF amount and the pension i will receive per month.
Maya-Hard to say. Contact the concerned EPFO.
Last I left my last company
After that when I checked my pf statement it shows employee share and employer share are 76778 & 29925 respectively. when I withdraw my pf , amount that I received is only 96033 which had to be 106703 . Can you please assist why this 10000 rupees are deducted. If intrest is paid separately than how many days it will take to be paid in my account.
Please assist what can I do to get my remaining money from epfoRitesh-It may be TDS. Be in touch with EPFO.
Basavaraj how can TDS be rs 10000. for total rs 106703.
Jull-Is it exactly Rs.10,000?
Basavaraj I was referring on Ritesh case where he said employee share 76778 + employer share 29925 =total rs 106703./ He recived Rs 96033./ so the balance Rs 10670./ cant be TDS cause Tds is cut from the interest earned @10% so how come Rs 10670./ be tds I am confused please let me know
Jull-The TDS will be on the amount of total withdrawal but not on interest earned ONLY. Refer my post “EPF Withdrawal Taxation-New TDS (Tax Deducted at Source) Rules“.
Hi Sir,
In the month of March 2017, I transferred to USA as employment transfer. Within 1 month, I came back to India and rejoined the same company. In my passbook, it is not showing the 2016-17 interest. What should I do now ?
Sravan-Raise the issue with EPFO Grievance Cell Online.
Thank you. I just logged a complaint.
Still 2016-17 interest in not reflecting in myPF account, when I contacted EPFO office they informed me below:
it is informed that the annual account not yet approved for the year 2016-17, interest will be credited automatically once the annual accounts approved . This is for your kind information
Is that something which take so much time to approve?.Not seen such delay anytime. Please suggest.
Ketan-Yes and please wait.
Dear Sir,
My name is P. Harikrishnan. My PF Account name and PAN card name is same as P. Harikrishnan. But in my Aadhar card name is mentioned as Harikrishnan, the initial is not there.
My question is that when I will withdraw my EPF amount that time any problem will occur or not for the ID card name mismatch. ?Harikrishnan-May or may not. Hence, better to correct now itself.
I had worked with one company for 9 years and left and join another and worked here only for 6.5 Months. Will i get complete PF from second company.
Secondly i want to transfer my second PF to first company PF.
What is the procedure to transfer PF from one account to another.Vinend-You can transfer.
Dear Sir,
I have transferred my accumulated PF amount alongwith Pension from EPFO to PF trust of new company in October 2017. I believe the PF trust of new company will pay interest from October 2017 onwards.
Will I loose the interest for the period of March 2017 to Sep 2017 on the amount transferred ? If not How can I claim that ?
Kindly advise.Thanks
Nikhil-You will not loose the interest.
Thanks Sir, but How I will I be able to claim that later as whole amount would have been already transferred by the time interest will add in old account (some time in June 2018) ?
Nikhil-EPFO will add interest to the account.
Nikhil-EPFO will add interest to the account.
Hello,
I left Company ‘A’ in May 2016. In the Passbook I am not seeing the interest credited after April 2016. Ideally interest should be credited in April 2017. I am informed that for 3 years interested will be credited in the inoperative accounts.
Rajesh-Refer my latest post “Interest on Inoperative EPF Accounts up to 58 Yrs of age“.
Sir, I’ve several questions. Your help will be much appreciated.
Here is my scenario:
I worked in company ABC for 5 years 7 months. Then am in Company XYZ for 9 months now.
I had different UAN and PF account number for both places.
Later I got my EPF transferred from ABC’s PF account to XYZ’s PF account number.
Questions:-
1) My EPS is still sitting in the PF account of Company ABC’s PF account. Can I withdraw it? If yes, how?
2) I bought a house last week and have to make the payment in 1 month. Can I withdraw 90% of my PF balance from XYZ company?
3) Will any of the above 2 withdrawals’ income be taxable? Or will it reverse my 80C deductions?Thank you in advance.
Keyur-1) EPS will never get transferred. EPFO only update your service records. Hence, you no need to worry.
2) NO as you already purchased it.
3) In 1st one, now you can’t withdraw but only can transfer. In the second option, you are withdrawing money as an advance but not income. Hence, no tax issue.Oh, does that mean that I cannot fill form 10c and withdraw EPS from company ABC’s PF account? 🙁
Keyur-When you transfer EPF, then EPS will get records updated. You can’t withdraw EPS alone.
Sir, the EPS is still not updated in the passbook of new UAN, it still shows in the passbook of old UAN. Please suggest, what can I do. Thanks in advance.
Keyur-No option but to raise an issue with EPFO Grievance Cell.
Hmmm will do that, thanks.
Need some clarification about PF , I have joined my first company on 09/2014 onwards they have deducted pf up to 11/2014 , between 12/2014 to 3/2015 there is no contribution for the said months but showing OB adjustment (2014-15
) auto appendinx back period .Could ypu please share the reason
Thillaivelan-I am not sure about this. Better you discuss the same with your employer.
Dear Sir,
I have completed 5 years 6 months in a company. my basic salary less then Rs. 15,000. Now I want to reigned & want to withdraw my PF amount. kindly reply for my below mentioned query –1. Can I get Employee share, Employer share & Pension contribution all three ?
2. how much % I will get from the pension amount ?
3. Employee share (Rs. 49,703), Employer share (Rs. 15,594) & Pension Contribution (Rs. 28,953). What amount approx may i get from PF .Chinmay-1) Yes but not full EPS.
2) It is based on Table D of EPS (some %).
3) I already answered.Thank you so much Sir for your replay.
sir ,
I have completed 5 years in one company then i resigned and joined another company for 1 year .now i resigned from that company.My UAN is same in all comapny. so how many years of service will be considered in EPF ? will tax be deducted from my pf account ?
Subrat-If you used the same EPF, then your service is 6 years in total. In such situation, your tax will not be deducted.
Thank you sir ,
what will i fill up in the date of joining place ?
my Epf no is different in two company but UAN is sameSubrat-Your actual date of joining you have to fill.
sir,
Thank you ,I know , i have to fill but I wanted to know that I would fill date of joining of 1 st company or 2nd company .I more thing sir , please to me that how and where to send this form ?(to Pf office or company (1st or 2nd )) and by post or personally go to deposite .
Kindly reply me sir.
Subrat-If same EPF, then the date of joining is your first company joining date. Submit to your current employer.
Nice article. Thanks.
I have a query. Upon PF transfer from one company to other, is there a rule as to who will pay interest for a particular month. For eg. Company A transfered my PF to company B on 24th Of july but paid me interest only upto 30th of June. Company B says that as per their rule , if the transfer is received before 15th of a month they pay interest for full month else Nil. Effectively, I have lost 1 month interest on the entire PF amount which is substantial.
Pls guide how to take this up. Both companies have their own trusts and rules.
Sajid-For your information your employer will not provide you INTEREST but EPFO invest that money and give that interest to you.
But as I mentioned above, both are saying that they won’t pay for that minth. Is there and mail id where I can write to you in detail or pls mail me on [emailprotected]
Hi – I joined a new company, which my old employer came to know of it and stopped processing closure of my PF. Is there a way out to draw this PF amount?
Adikkappan-How can they stop? Complain against EPFO using EPFO Grievance Cell Online.
Not only did they stop my PF processing but also my Full and Final Statement. If i do a complaint in EPFO Grievance cell, will the company not say the same answer, i.e., I have joined a competitor company?
Adikkappan-EPF money is YOUR’s not your ex-employer’s. NONE on this earth can stop you from getting that money.
Hi Basavaraj,
I joined one company in 25 Jan 2017 and 812 total pf deducted from my salary for 7 days of January month. For Feb month deduction was 3600 and so on. but I resigned from that company in 25 July 2017 means after six months. Then I downloaded my PF passbook. It is showing Cont. For 032017 406 + 124 + 282 =812. Can you tell me, why this discrepancy Shown, why it is showing January month deduction in March?
And as I left the job in July month and waiting for salary but it is showing showing the contribution of July month. If company is depositing 2 month late then should I wait till September to get all PF.
Cont. For 032017 406+124+282
Cont. For 042017 1,800+551+1,250
Cont. For 052017 1,800+551+1,250
Cont. For 062017 1,800+551+1,250
Cont. For 072017 1,800+551+1,250
Grand Total 7,606+2,328 + 5,282Alok-In my view, it may be due to employer delay or missing that month’s contribution. Check with your past employer for the same.
Is the interest monthly rest, quarterly rest or annual rest?
Kumar-Please refers above post one again. I explained the same in detail.
I have completed 13 years of service and resigned on 1st March 2017..I am not working now..Will i get my full PF amount as a final settlement??
Shankara-YES.
Thank you so much..There was so much of confusion wrt this..
PF is being deducted from my salary from last 10 years, but the company has not paid the same to PF office.
Now, they have paid the PF amount to PF office after 10 years. I want to withdraw my money, whether i will get the interest for 10 yrs or i will get only my & company share only.Laxmi-It is not YOUR fault. Hence, you will get the interest on all your past EPF.
Thanks for your prompt reply.
Basu sir,
My epf passbook still does not show interest amount for 2016-2017. Please suggest. I m calling on EPF helpline numbers but not picking up phones and i do not have time to go to pf office.Further i have an inactive account , is there any different rules for inactive accounts in terms of interest.
Please help/suggest.
VinendVinend-Raise the issue with EPFO Grievance Cell Online.
can you please help to provide relevent id.
Vinend-Which ID?
Pf Grievance mail id
Vinend-It is a website.
Hi I worked one company in three years. I have seen my PF balance in three share. one is Employee share , second is Employer share and third is Pension contribution . Here employee share is 60,934 rupees , employer share is 18,623 and pension contribution is 38,684 . So
1. Can I possible to claim all these three share amount. If yes when and how?
2. If I claim, how much amount will be I get approximately?Please reply.
Thanks in advance.Arunkumar-If you are currently not working, then you can claim all 3 parts (however EPS in part). You get full employee and employer share and part of EPS.
Hi sir,
You told that you will be getting a part of it, how can that be caluclated
thanks
Saketh-EPS as per Table D.
Hello Sir. I downloaded the PF statement from the EPF website. It shows my contribution and employee contribution as well. But it does not show any accumulated interest. How do we find out the amount of accumulated interest? Thanks.
Sunil-It will be mentioned there. Please check properly.
Hi,
I worked in a company for 20 months and it shows total Employee Share Rs 19187 and Employer Share Rs 5863.0 (along with pension contribution Rs 12,298).
1)will i get all three Employee share, employer share and pension as i want to withdrawal my PF money ?
2)what will be total approximate credited amount ?
3)there is spelling mistake in my name on UAN portal. what is procedure to make it correct? my employer is not assistingkindly response 🙂
Pankaj-1) You get full of EMPLOYEE+EMPLOYER+Part of EPS (depending on the tenure of your service).
2) Not sure.
3) You can do through employer ONLY. Because as of now UAN Helpdesk not working.Sir,
My account is inactive from last one year and still it does not shows interest in my passbook for last year.
Please helpVinend-It has to show. If now, then contact the EPFO.
Hi,
I see that interest is not credited this year(in 2017).Generally, interest should have been credited in April 2017.
Any idea when we will get the interest credited into epf account.Regards,
SwethaSwetha-No idea.
Its credited now…
Interest still not shows in my account
Vinend-The passbook updated a few days back. If interest not reflecting in your account, then contact EPFO.
I have done job in a company for 2.1 years and contribute PF and put my resignation now , I need not joined anywhere ,can i continue my PF account .
Prema-Keeping idle account for long is risky. Instead, if you are planning to discontinue the job forever, then better to withdraw.
Sir,
Why it is risky and if interest is continue on a idle account as well then it should be continue should not withdrawl.
Please guide/clarify.Vinend-There are many who can do scam by creating bank account in your name. Even though such possibilities now reduced to the certain extent, but I still say, if you are unable to monitor, then better to withdraw.
Sir,
Thanks for your clarification.
I have given 1.5 Lacs to anybody but now he is refusing to return, I have his blank cheque sign by him. Can i claim on the basis of this cheque and how i can proceed to get my money.
I f have any idea please suggestVinend-Contact a legal expert before proceeding like a lawyer.
for pension I want to know. if establishment sends pension form to epfo then what epfo does is it sends to bank or whats the process
Siddharth-Refer my post “The complete guide to Employee Pension Scheme (EPS) 1995“.
Basu sir,
I have done job in a company for 4.20 years and contribute EPF and also withdrawl the same. further i did job another company and did job for 9 years and did not withdrawl my full epf (only partial withdrawl). Then i did job in another company for 7 months and did not withdrawl this company epf.
Does i am eligigible for epf scheme and does all epf facility like insurance/death case benefit to family will be applicable for me.Vinend-If you used the same EPF account for all your three employment, then you will be eligible for EPS. Insurance will come into picture only if you are working.
Hello Basu,
I checked abt the EPF with my office trust. The EPF amt after resignation will urn interest for the next 3 years – thereafter the amt stays fixed. It does not means that although I have 18years more services(60yrs), the interest will be given for the next 18 years.
So, EPF is a FD for 3yrs only (after leaving the organization & not until 60yrs)
It means inerest will not be given after three years of job discontinue.
Secondly, So it is beneficial to withdraw epf after three yearsMy passbook does not show interest amount for 2016-17 session, please clarify
Please suggest
Vinend-Now the rules changed and there is nothing like inactive accounts. All accounts are eligible for interest accumulation as long you hold it. But he has doubt. Hence, he asked employer and they replied 3 years inactive rule. Hence, I am suggesting him to approach EPFO directly for clarification.
Irshad-If you have doubt, then why can’t you raise the issue with EPFO? You will get clarity on that then you will come to know who is right and who was wrong.
Respected Sir,
I am working in a pvt ltd. company and getting salary Rs. 16165/- (total) per month. I am interested for EPF scheme, but my company owner is telling me that my salary is exceeding Rs. 15000/- and hence I am not entitled for EPF scheme. He is not providing me any other provident fund scheme. Is is true that I can not contribute and opt for EPF scheme as I am getting Rs. 16165/- Per month salary ? Kindly advise and guide me regarding this issue. Above Rs. 15000/- salary, does it depend on employer to provide us the EPF scheme ? Sir, I need some provident fund scheme, Please advise, is any other scheme is available there ? I shall be grateful to your valuable early advise.Regards
Vimal Kumar VermaVimal-If your basic and DA cross more than Rs.15,000 then it is YOU who has to decide either to be part of EPF or out of it. But in your case your employer forcing you to opt out and that too when your salary is less than Rs.15,000 (I assumed your basic+DA less than Rs.15,000). He just don’t want to contribute for you. Hence, saying such lies. You can complain against him with EPFO Grievance Cell online.
Hi Basu,
Shortly, shall receive the FORM16 & along with 26AS want to file my tax returns. Hence needed help
Irshad-But I not do such service of tax filing. Better you take the help of tax expert of your area.
Hi Basu,
I wanted to share my 26AS with you & enquire on few details. Can I do that ? If yes, kindly share your email id.
Thanks
Irshad-This is regarding?
Sir,
Is year 2016 interest added or not in epf?Vinend-Now they will update for 2016-17 year.
Sir,
Is there idea about up to when interest will reflect in passbookVinend-No idea.
Thanks for the quick reply. So, then I can use the EPF as a long term FD with no tax on final claim.
Dear Basu ji,
I had withdrawl my employee contribution (Rs 2Lacks) 3 years ago from my EPF acount and remaining if employer contribution and my pension contribution.
Now i m not contributing. Can i again deposit this amount (Rs 2 Lack) and will i get interest on it as accumulate.
Please guideVinend
Vinend-You are not allowed to deposit.
Irshad-Yes, that is the beauty of EPF.
Basu ji,
I have approx 3 lacks in my EPF account after 20 years how much it will get accumlated total. If tax payble or not after 20 yearsVinend-It is hard to say so and also whether this Rs.3 lakh is except EPS? If so, then you can assume around 8% return and calculate the returns. If the EPF account is contributed for more than 5 years, then it will be tax-free.
EPS means sir
Vinend-Employee Pension Scheme.
Dear Sir,
Total contribution shows about 3 lakhs when i missed call epf balance phone number.Is this amount have EPS amount too or EPS is excluding this amount.
Vinend-I think this is excluding EPS.
Sir,
Thanks
Then how much my amount accumulate after 20 years (approx.)Vinend-Please do calculate with expected return of 8% and time period up to your retirement.
Sir,
Please guide as 2017 Interest not calculated in my pf statement passbook. Please help to suggest why interest not calculatedVinend-It is as per me not updated in passbook. Wait for some time.
Dear Basu,
Firstly, I would like to Thank You for the great service you are providing us. May God bless you.I am 42yrs old. Assuming that I resign from my company (stop working – may be do some business) BUT donot claim my EPF amount – will the amount in my A/C still continue to accrue interest ? If I take the amt from EPF when I am 60yrs. will I get the “extra” amt (42yrs to 60yrs) ?
Irshad-YES. As long as you retire or withdraw the money, your EPF will earn the interest on it.
Sir,
I had worked with a company for 9 years and left the company in april 2016. Now i m not contibuting in my PF account as my new organisation does not have epf account facility.Please tell, Will i got interest on my already deposit balance and up to when without contribution ?.
Also in between i joined a company having pf facility and i worked here for 7 months only and have different UAN number. Can i transfer this amount to my previous UAN and how.
Further can i withdrawl all my PF balance including pension and employer contribution.
Please helpSir,
I had worked with a company for 9 years and left the company in april 2016. Now i m not contibuting in my PF account as my new organisation does not have epf account facility.Please tell, Will i got interest on my already deposit balance and up to when without contribution ?.
Also in between i joined a company having pf facility and i worked here for 7 months only and have different UAN number. Can i transfer this amount to my previous UAN and how.
Further can i withdrawl all my PF balance including pension and employer contribution.
Please help.Vinend-Yes, you will get the interest as long as you keep that money with EPFO. Yes, you can transfer old EPF to this UAN. If you are no longer working, then you can withdraw EPF.
Sir,
Thanks for your easy clarification.
Now i want to know up to when i will get interest on my EPF balance without contribution.Vinend-As long as you not withdraw the money.
Thanks sir
So i think i should not withdrawl the epf
Please give your opinion/suggestion.Vinend-Better to transfer.
Sir,
Transfer is ok.
But i want to get continue interest and do not want to withdrawl epf for future planning.
Please suggestVinend-That’s what I told you. You will continue to earn interest as long as you do not withdraw the money.
Thanks a lot sir
Hello Basavaraj,
First of all thanks for answering all our queries!
Couple of years ago, I shifted my job and hence PF office too (BLR to PUNE)! The amount and interest got transferred without much issue. But when I see the interest deposited in recent years (2015 & 2016), it looks like the interest is calculated only on amount deposited in new PF office, and no interest on transferred amount!
I registered a grievance but their response did not address my query. I have registered my grievance again, and hoping to get a better answer. Meantime do you know any other work around or what could have went wrong?
Thanks
VijayVijay-I am not sure of what went wrong. But try to be in touch with regional EPFO Office Personally.
Thanks you!
Will do 🙂
Hi, can you please tell me when the EPF interest for 2016-17 will be deposited in EPF account? I can’t see any interest deposit for this year in my account.
Bobby-They deposited but they have to update the accounts.
Any idea in which month do they update the annual EPF interest in the pass book available on the portal?
Matt-Usually they do it in the month of April or May.
Dear Sir
Is there any chances of increase epf minimum pension amount?Raj-NO idea.
I am interested in taking a SIP. My requirement is :
Principle Amt/Monthly = Rs 10000
Rate of Interest = 7%
Time period = 18 yearsPlease suggest a SIP that will run for a time period of 18yrs with interest rate fixed at 7%(min) & able to take a loan when reqd & not market linked.
Irshad-Interest rate FIXED means? Please understand the basics of Mutual Funds and how they work.
Dear Friends,
I have worked in company near about six years and I left company in Oct’2016, as per my last salary the EPF breakup is 1800+550+1250=3800/-. as per my EPF statement I am getting interest on 1800+550 only and interest is not showing on 1250 (pension fund). any one can you please confirm if I am withdrawing my EFP amount, will I get interest on pension fund.
Sinod-Your EPS part will not earn any interest.
You will not get interest for you Pension fund. Only PF part alone only earn interest. But when you close you PF account you Pension fund also will be closed and you will get the amount that was credited into the pension fund.
But it is not a wise idea to close your PF account. Because this will be accounted at later stage of your pension calculation. Pension calculation will be based on how much years you have served. So it is not a wise idea to close the PF account when you are leaving a company. In my case I closed my previous PF account, which now I felt it is a mistake either becuase of lack of knowledge from my side or no one was there to advise me not to close but to transfer wisely.
Hi Basavaraj,
Thanks for sharing knowledge. Can you please explain how did the interest get calculated in my case ? I have pasted the details from my PF passbook for 2010-11. I wanted to understand how did those interest numbers come up. I tried your method, but obviously I must be weak in Math as I couldn’t get the interest numbers in the passbook :). Please help me understand.
****************************************************************
Particulars Deposit
Employee Share Employer Share****************************************************************
OB Int. Updated upto 31/03/2010 0 0
Cont. For 042010 0 0
Cont. For 052010 4,403 3,862
Cont. For 062010 3,500 2,959
Cont. For 072010 3,500 2,959
Cont. For 082010 3,500 2,959
Cont. For 092010 3,500 2,959
Cont. For 102010 3,500 2,959
Cont. For 112010 3,500 2,959
Cont. For 122010 3,500 2,959
Cont. For 012011 3,500 2,959
Cont. For 022011 3,500 2,959
Cont. For 032011 3,745 3,204
____ ____
Int. Updated upto 31/03/2011 1,595 1,360****************************************************************
Rahul-It is hard for me to calculate each individual. You try on your own or if you feel doubt, then contact EPFO.
I totally understand, and thanks for your response. I tried that average monthly balance formula what you used in your example, but with an interest rate of 9.5 % (2010-11), but failed to arrive at the interest number given in the passbook. Thanks for your assistance.
One question – I have left the job on April 2016 and now I wanted to apply for PF withdrawal. I know PF interest is credited in April 2017, so if I apply for PF withdrawal in March 2017, will the interest earned between April 2016 to Feb 2017 be paid to me along with the withdraw amount? Or Interest will be not be paid if I withdraw before interest is credited (April 2017)?
Ashok-Interest is calculated on monthly but they update once in a year. So you no ned to worry about the interest fetching.
I have completed 6 year 6 months in a company. Still serving in same company but in need of money urgently for personal reasons and reason not meeting any house purchace/marriage or whatever all listed. Is this possible to withdraw complete PF amount with any possible way? I am ok with Tax deduction on withdrawal amount.
Vinay-Except specified reasons, EPF can’t be withdrawn.
Hi, I am applying for loan advancement from PF for the purpose of repaying the Home Loan. If I apply it in March-2017, will I lose the interest for the amount which I am withdrawing (since the interest is calculated as of Feb and credited only in April)? Please advise. Thanks in advance.
Raj-YES.
sir, My working period in company is july 15 2016 to jan 13 2017. the pf amount was debited from my salary in the months of july,aug,sep,oct,nov,dec,jan. According to EPF rules i have finished 6 months or not?
Sandeep-YES.
Very very good and useful article. Thank you so much.
if my EE is 90000 and ER is 60000, my total PF balance is 150000?
Rohan-What doubt here?
Just wanted to check if EE and ER amount is including interest or there will be separate interest applied to it
Rohan-It will be including interest.
Dear Sir,
In your example of Mr.Ajay’s interest calculation (the table in your article), since the employer 12% contribution is less than 1250 (towards EPS), only Rs 239 is considered. If a person’s Basic is more.. for example Rs 40,000/- , then the person’s employer contribution = 4800 – 1250 = 3550 ; So, Rs. 3550 of Employer’s contribution is added to his PF balance and interest is calculated as per your table ; Is this analysis correct sir ?
Ravindra-YES.
Dear Sir,
i have very big issue in MY PF account, i was worked with a company for four year, but case is that, i was taken full and final two year before and rejoin after 50 days, Company had closed the PF account in UAN, one year after rejoining, i found company send the my pf in previous closed PF account. after addressing the issue, company has allotted new Pf number and new UAN, now my previous amount is not shows in my UAN, also 2 account of UAN, whom to continue , and whom to deactivate or merge i dont know, and company said your amount will transfer in new account. is it possible, now i was left the company two month before. no reply from company, pl suggest what can i do.Atul-Refer my earlier post “Allotted two UAN numbers -How to merge or deactivate EPF UAN?“.
Sir, My query is to know if I withdraw my pf on account of retirement in the middle of the financial year i.e say in December and apply for withdrawal , will the department credit the interest up to date (for part of the financial year) and settle my payment or they pay with out interest because the dept normally credit interest yearly once i.e April month.?
Jagan-They update the accounts once in a year but credit interest as I calculated above.
sir, calculation part is ok, but middle of the year if you withdraw upon retirement, will they pay us with interest up to the date of withdrawal (say with drawing on 25.12.2116) or with out interest for the current year ?, since normally they credit every April.?
Jagan-They pay up to the date of withdrawal.
Thanks for the clarification sir.
But my PF is not reflect in my new UAN. and also not reflect in old UAN .
Atul-When you created UAN?
new UAN was activated by my self, one week ago.
Atul-If you created on your own, then whether your employer verified your KYC details and linked your EPF account?
UAN is given by employer, only i activated it, and my pf number was already linked by employer, as i was found in this UAN.
Atul-If your UAN reflecting the EPF number, then what is the issue?
My PF amount passbook is not reflect.
Atul-Let them update it.
Dear Sir,
I worked one company for 3 Months only, PF has been deducted & now applied for claim. If EE Amount is Rs.2913.00 & ER Amount is Rs.890.00, what is my Amount including Rate of Interest.
Pl help me.
Kashi-I already replied to your call.
It was really helpful reading ur posts. I am appearing for AFP( final module of CFP) can u please help me with a loan eligibility calculation like if a person opened PF account on 07/05/2005 and wants to withdraw. so how much can he withdraw and after how many years he can take loan. its 3 years or 7 years i am confused. It will be a great help to me.
Neeraj-Refer my post “Excel PPF Calculator-Calculate goal, loan or withdrawal amounts“.
Sir I have such calculators. I am appearing for AFP n FPSB doesn’t allow such calculators. I want to understand its calculation. I want to know that hw much I can withdraw after 7 years n how much loan I can take from 3rd year. I want to understand the calculation
Neeraj-Refer the post “PPF-Loan and Withdrawal“.
Sir it was really nice n ur language or presentation made it very simple to understand. My doubts are clear now. Thanks sir for sharing ur knowledge.
Hi Sir,
My Employer Share shown in CTC break up is greater than 3.67% but in UAN am getting my Employer Share exacly 3.67% is there any hidden amount or should i ask this with my HR?
please clarify this
FYI my CTC is 3LPA
Employer Share shown in CTC is 1784
Employee Share shown in CTC 1572Employer Share updated in UAN is 481
Employee Share updated in UAN 1572Sathish-Your EPF contribution is not fixed based on CTC, but on Basic+DA.
MY basic is 13100
Sathish-Then calculate as 12% of this.
The UAN updated Employer share and the mentioned Employer share in my salary break up differs to me
So i just need to know is there any hidden Employer share which I may get after retirement/upon resigning..
Sathish-All will not be contributed to EPF, but part of employer share goes towards EPS.
Sir PF withdrawal available in online??if is there update to that link.
Somaling-As of now NO.
Dear sir,
Could you explain me about OB adjustment ?? [[OB Adjustment- ( AUTO APPENDIX BACK PERIOD )- IPR(Back Period) (2014-2015)-Contribution only]] what is mean by this sentence which is in bracket ??Dinesh-I am not sure about which you are pointing.
My basic is 48280 and company is deducting 5794, if I increase this deduction(5794) to 8 0r 9000, will it beneficial for me and how much my company will deposit (12 % or same to my contribution) ?
RegardsJitendra-How can I say without knowing your finance or financial goals? Your employer may restrict to 12% or contribute equal amount.
Sir I m Ex-employee.I get 37430/- epf balance message.I confuse this amount will came or some more came please reply me
Somaling-Check with EPFO by raising an issue in EPFO Grievance Cell online.
Sir I apply of form before two months.after my friend applied but his amount is cleared.but no changes in my epfo system. Actually my original date of birth is 04-04-1990 but in epfo 04-04-1992 .I submit correct doc to my company but they done wrong I fight with my company for change to date of birth through mail.but up to date I don’t get my of information where and why it hold no claim information status in epfo.please give me solution for next procedure….
Somaling-You have to knock the door of EPFO.
Hi Basavaraj,
First of all many thanks to you for this beautiful explanation of PF interest calculation.Now I have a doubt I worked for a company for four years and left the company last september and joined a new company. Now If I transfer my PF amount to this New company’s PF will I loose the interest from April to September (considering It will take atleast a month to complete the PF transfer) from my previous employer ?
So my query is whenever we transfer our PF balance in mid of fiscal year do we lose interest from the previous employer ?
As we know PF interest get calculated in fiscal year end i.e march end so that time my PF account is closed for previous employer.Regards,
NabosonaNabosona-You will not loose interest. Because EPFO will contrite considering it as active account.
Hi Basavaraj,
Thanks for your reply.
I have around 2 lakh in my PF account before transfer (considering interest rate as say 8 %) so from April 2016 to Oct 2016 (until the time of transfer) say around 8000 is in interest.
So when I transfer will be Rs 208000 will be transferred or interest amount of Rs 8000 will be again credited in March 2017 ?
Please note both of my previous and present employer has their own PF trusts
Thanks and regards,
NabosonaNabosona-Interest will be credited at later stage. However, the as of date accumulated corpus will be transferred.
Dear Sir,
I want to withdraw my pf balance of previous employer 5 years not completed ,so I have to fill 15G ,In column no. 16 (Estimated income for which this declaration is made ) total pf amount to be filled
1.Please help me how to calculate total pf amount to be write in this column (deposit amount in pf showing Employee share 26,321 ;Employer share 10,504 and pension contribution is 13,427.
2.In column no 17 of 15G( Estimated total income of the P.Y) :how to filled this if my my monthly inland salary is 20,500 and Yearly CTC is 3LPA.
3.and please explain me column no 19. of 15G identification number of relevant investment /account ;what is to be write in NATURE OF INCOME ;SECTION UNDER WHICH TAX IS DEDUCTIBLE ;AMOUNT OF INCOMEI m working in a private company and no other sources of income .
Abhishek-1) It is Employee share+Employer Share+Interest on both+EPS balance. If you are confusing, then check the same with your regional EPFO.
2) CTC not matters but you net income matters. If your income for current is year is more than Rs.2,50,000, then you are not eligible to fill Form 15G.
3) Refer my Youtube Video (https://www.youtube.com/watch?v=sHZOEb0iV-s) otherwise take the help of EPFO Office.
Dear Sir ,
In worked in a organisation for 3 years …my ER Amount – Rs 61020.00 and EE Amount – Rs 16151.00 as was shown last on PF Website . After applying i recieved Rs 24430.00 is ER amount and EE amount paid seperately.After how many days is the difference between the two payment timeperiod ?? kindly suggest .
Chinmoy-Yes, they pay it separately. But not sure of exact gap.
I left my job in India 0n 06 July 16 and moved to Gulf. Would I be getting interest amount next year Apr 2017? Is there a separate form to withdraw EPS? I guess my PF account will become inactive in soon so isn’t sensible to withdraw all contributions right away?
Hello Basavaraj Tonagatti ,
I have my pf account.i have one question here. current month is September and i have got my august month salary on date 16 September and pf on that date too. what will it reflect in my pf account..whether September or august?
can you provide me any link that can guild me about what is pf and how it works?Nilam-I already cleared “Contributions will be shown by your employer based on the salary due. For example, September month salary will be payable on October. So the September month contribution will be shown as a contribution against October but not in September. Whether the payment will be in October month or not.”
Hi,
If i take a refundable loan from my EPF contribution, then will i get interest on balance amount or total amount?Amit-On total amount.
Hi Basavaraj,
How can I invest in Masala bonds ? Are these good instruments ?
Regards
Irshad-Refer this Livemint post.
Hi Basavaraj,
If I have a base EPF amount of 10L (example) & my basic is 50K. Is the below formula correct :
EPF calculation = Compounded Interest on 10L + Compounded Interest on 50K * 12months.
Regards
Interest Calculation process for EPF and VPF is same or not ?
Can I calculate my VPF interest as shown for EPF ?
Biswajit-Yes, it is same.
I have read many of your posts, and find them really helpful. Many thanks!
I want to know, if an employee resigns and withdraws his/her PF in the mid of the year – say October or November, does EPFO provide interest for the last 7-8 months at the time of withdrawal or after the year end (April next year). And if yes, what rate of interest will be used to calculate interest.
Dilip-In my view, it is in mid of year, then interest rate of last declaration will be considered for calculating.
OK. And will they give me the EPS portion also.
Dilip-Refer my earlier post for the same “The complete guide to Employee Pension Scheme (EPS) 1995″.
Hi,
I have a question on, How PF statement works?
Eg: I have joined a XYZ company on January 1st 2016 with salary of 10K. 1200 Rs would be debited from my salary and credited to PF Account. For Jan 2016 Salary PF Deduction, On what month it should show in PF month statement whether its Jan (or) Feb 2016?
Murali-I think you not read the whole post. I clearly mentioned “Contributions will be shown by your employer based on the salary due. For example, September month salary will be payable on October. So the September month contribution will be shown as a contribution against October but not in September. Whether the payment will be in October month or not.” Therefore, for you it shows as Feb 2016.
Thank you. i haven’t gone through entire post. Now i will.
Hi Basvaraj, Thanks for this explanation. My last organisation PF balance is not transfer yet to my current company PF account. Will I get interest for my last organisation PF balance?
Thanks, Chintan
Chintan-When was the last contribution happened to that old EPF?
as per new policy changes, can I get interest on my balance after 3 years also?, I planing to work outside india and then I wan to withdraw my amount after 58 years, what is your advice?
Naresh-NO.
Hello Basavaraj,
Wanted to have a small chat with you on phone. Is it possible ?
Irshad-Regarding?
Hi Basavaraj,
My Basic is 70000 & I am contributing 100% into EPF. EPF interest = 8.8%
Assuming the above to be constant until retirement (for ease of calculation) : Can I use the below formula to arrive at the corpus amt :
= * POWER( (1 + 8.8%),no of years until retirement)
Irshad-If that is the case, then you have to first arrive at yearly interest calculation as per above method. Once that is arrived, then you have to use compounding formula to arrive at future value.
Dear Bhavesh,
You have given the break -up for PF Interest calculation. Thanks for that. Can you show the calculation for the beginning of the next year by taking the opening balance and continuing in a table format?
Regards Gandhar Bose
Gandhar-The process recur for the next year.
Hi Basavaraj,
I wanted to invest in a retirement plan – LIC – Jeevan Akshay – Single premium. This means that I pay 10L & start getting pension @ 7.5% for life & in the eventuality of my death, my nominee would get the amount.
Seems too good to be true. May I know where is the catch in this premium & do you suggest I take this plan ?
Regards,
Irshad-There is no catch. But just understand the value of 7.5% after 10 or 15 years.
Hi Basavaraj,
Do you feel 7.5% after 10-15 years would have fallen to 2-3% & hence its a good deal?
Are retire plans worth investing in the current economic context ? I am 41yrs old.
Regards,
Irshad-Check the real return than the 7.5%, then decide and go. I simply say stay away.
Hi Basavaraj,
Then kindly suggest some risk free instruments ( I have got PPF, EPF, SSA, KVP, NSC, FDs).
I have a corpus amt of 10L that I want to invest.
Irshad-Sadly NONE of the products are RISK FREE.
Sir, I’m working in a private organization & my pay is 6000…and I’m not getting how much they are deducting my PF and and what are the actuall calculations to be… please help !
Tarun-Even I too can’t help. Check with your employer.
Sir, but can you tell me that what % of pay, pf should be deducted.
Tarun-Refer my earlier post “Employee Provident Fund (EPF)-Changed rules from 1st Sept 2014“.
Hi Basavaraj,
May I know what is the maximum amount that can be invested in Post office MIS / person ? Interest rate & term ?
Thanks.
Irshad-Maximum amount is Rs.4.5 lakh.
If I reassigned from my company & PF amounts were not deposited in to my account. Still do I get interest on my earlier accumulated amount ?
Priyaranjan-Up to 3 years.
Request advice on investing in KVP from Postoffice & NSC. I am risk averse & hence would like to invest in such bonds – locking for a 10yr term
Irshad-So?
i would like to know apart from KVP, NSC, MIS, EPF, PPF, SSA, NPS are there any risk free investments.
Irshad-Liquid mutual funds or short-term debt funds.
Do we get the interest amount credited to the bank account provided every year and how to check on that?
Mahesh-No, they will not credit. If they do so then what is the use of INVESTMENT?
Hi Sir,
I worked for one company less than 180 days & want transfer PF account from that old company to my present company but the PF number which they allocated to me showing different employee name in Online portal can you please advise me on this .
Thank you!!
Kiran-Either contact local EPFO or complain online on EPFO Grievance Cell.
Thank you sir!!
Hi sir
i worked in a corporate for 1o months. but i left that company with out intimation of them and they company terminated me and now the company is asking 40000 from me.
But my PF amount is around 18000. now please give me some suggestion to get my PF with out and pay to that company.
will i join same account in new company will i get that my amount in my new companyAjay-Once you join new company then provide the same old EPF account to continue.
Hi Basavaraj Tonagatti ,
I have one doubt.
For example : In my pay slip employee PF is getting deducted “X” per month and same amount is given by employer PF “Y” as mentioned in offer letter.
In this case X=Y.But when i see my UAN passbook.There,
1. DEPOSIT: employee share and employer share
2. Contribution/Pension:Actually in my case , employer share+ pension should be equals to employee share as (X=Y)
But first of all i see in UAN passbook,
Employee share is less what is getting deducted in pay slip….
And also employer share+pension is less amount …Please clarify my doubt…
Regards,
Bamdeb GhoshBamdeb-if there is difference in the amount deducted to amount deposited, then discuss the issue with your employer.
Thanks you.
Sir,
i have some doubts related to my PF.
I have been working in a firm for past 3 years.I had resigned from that firm 2 months before on may 31.I had joined another firm from june 1 onwards.The current firm is not having any PF advantage. Please advice me for following questions.
1.What will happen to my PF amount.?will i be able to withdraw my whole pf amount(including mine and previous employers contribution)according to the new rules?
2.What happens if i am not withdrawing the PF.?
3.The current UAN account has been wrongly entered with the IFSC code by employer side and its still not corrected?i tried to change that i am not authorised to?Vineeth-1) Yes you can withdraw. 2) You get interest up to 3 years after that it will be idle account forever. 3) Once you join new company, then you can correct the same through your employer.
Sir, will i be able to withdraw whole amount till now or onlynmy contribution
Is there any time period for me to apply for withdrawal after resigning.Vineeth-You can withdraw EPF if you are continuously unemployed for more than 2 months from your last day of resigning.
Sir,i had joined another firm . But the current firm is not having pf benefits. But the salary is coming to same previous account.so will i be able to withdraw total amount.how much time will it be taking for the same and what are tge formalities for that.
Vineeth-If current company not offering you EPF, then you can withdraw it.
I have retired under VRS scheme from a Private organisation on 15.04.2015. My date of birth is 03.02.1958. Date of Joining the organiation 19.08.1991. My Penion contribution from Oct. 2014 was Rs.1250/- per month. What will be my pension amount if I apply now. Since I have completed 58 year only this year I have not applied for it earlier.
Thank and regards
H. R. Krishnan
Krishnan-It is hard to calculate for each individuals. Better you contact regional EPFO.
Hello Sir,
I was a member of PF in last organization (Tenure January 2014- July 2015). Some months back amount was visible under UAN Portal. But currently it is displaying zero value for that organization. My UAN Portal is displaying both the accounts but displaying zero value for previous organization account and where current organization PF value is visible to me
Jeevenjot-If you followed the same UAN to current employer too, then I don’t think there will be any issue. However, if you have doubt, then contact employer or regional EPFO.
Thanks Basavaraj, The concern is that I didn’t applied for transferring PF and its 1 year completed in new organization,I only provided UAN number to current organization. So I was in doubt whether that PF account is not gone into Inactive state
Jeevanjot-Its not inactive. But if you provided your old UAN, then I don’t think there will be any issue.
Hi Sir, I want to know my cmplete pf balance including interest, can you please tell me how to chk
Shrini-Use the EPFO portal for the same or refer my latest blog post “EPF Mobile App-Activate UAN and Check EPF Balance” or “Check EPF (Employee Provident Fund) balance through Mobile Phone SMS“.
Hi,
Please provide explanation on below points;
If I don’t transfer my PF from previous company, the interest will not be applicable after 36 months, however if i transfer the amount to my current PF number, will i get interest in the transferred amount even after 36 months?
Gaurav-If you transfer or not transfer, they provide interest up to 36 months.
Hello Basavaraj,
I have a question based on your answer.
You said no matter if we transfer our EPF account or not, we will get interest upto 36 months (3 years).
Does that mean that even if I have transferred my EPF account from my previous employer to the new employer, I will get interest for the previous amount only for next three years?Raman-What I am saying is only for non-contributory dormant accounts but not for active accounts.
Thank you Basavaraj.
One more question…..
The EPF which my employer is deducting, when does it usually reflects in the UAN members portal? The reason I’m asking this question is because I don’t see the first month contribution on the website. i.e. I joined in January 2012, but the contribution I see is starting from 022012. When I inquired, they said that the contribution gets displayed the next month and not the same month. Which means, the January month contribution will be visible on the site in February, the Feb contribution will be visible in Mar and so on….
Is this correct?
Raman-Yes, it is correct.
Thanks Basavaraj,
What I am asking is, if I transfer the amount to my current PF number which is active, next year, the interest will be on my current PF contribution + all previous transferred contributions, and this will continue even after 36 months as long as the current account is active, right?
Gaurav-YES.
Thanks Basavaraj, your guidance is much appreciated.
My Dad is retired from a private firm last month after 10 years of service..
His PF balance(EE+ER)=: 83k.
What would be the withdrawal amount cheque value?
can you please tell me?Venkat-It is both the amount.
Basavaraj,
I want to know the amount with interest(Approx).
If possible, please provide calculation to know the return amount. ThanksVenkat-It is hard for me to calculate each individual.
Hi My basic is 10770 from that my pf is 1293 so is it includes Employer and employee as 646+646 or else they deduct as 1293+1293 please give me clarity on this
Saikrishna-It is your own share of Rs.1293 (12% of Rs.10,770).
Dear Basavaraj,
Thanks for providing us with such good service.
I have 3 questions:
1. Is FOREX trading taxable in India ? Can I buy the british Pound & when the amount increases – sell it ?
2. Can you suggest good pharma companies doing well in India ?(can I buyPharma stocks from UK/Swiss ?)
3. Can you suggest good blue chip companies for stocks buying ?
4.How do I invest in stocks at TESLA ?Irshad-1) Yes as it is considered as business income.
2) I am not an expert of guiding direct stock investment.
3) I am not an expert of guiding direct stock investment.
4) What is TESLA?
Hello Sir, I was a member of pF in my previous co. I have joined a new co now. My basic is more than 15,000. is it compulsory for me to become the member ? or can I opt out of the scheme. what is the process to opt out?
Prashanth-It is your choice to be or not to be. However, you must inform this to employer immediately at joining. There is one format of declaration. This you have to fill and submit to employer.
Hi Basavaraj
Can you pls share the excel sheet for the calculation of PF interest. I need to verify interest working for last 2 years.
Regards
Vinay-You can calculate the one on your own using the above method.
Dear Sir,
I joined the Company during 2013 at the age of 55 years. From Sept ’14 Company started deducting PF from my salary. Today at the age of 58 i’m requesting my Company not to deduct PF. Is there any way by law i can be excluded from subscribing PF every month.
Secondly, inspite of mymany requests, the company consultant is dodging me in giving me my UAN. How can i know my UAN.
Best Regards
S. G. SHANKAR
Shankar-Approach EPFO.
Dear sir,
We had 326 employees.We paid Salaries & EPF to 325 employees for the month of April 2016.Remain One employee worked, but no information to us.So,we paid salaries for remain 325 employees.Now, employee asked his salary.Now can we pay his PF for the month of April 2016 of both Employee & Employer contributions to PF Organisation? If we can pay,What is the processor?Haribabu-I am not expert to guide an employer.
My age is 41years.
Current EPF balance = 1516630
Basic Salary = 68852
VPF contribution= 88% (Company = 12%)
Salary Hike for next 20 years = 8% (average)
EPF rate = 8.8% ( I assume for 2016)I would like to know what would be the corpus EPF/EPS amount when I turn 60years.
Irshad-It is cumbersome to calculate NOW.
Thanks for the speedy reply Mr. Basavaraj. Do you think the below link on EPF calculator is authentic ?
If yes, when I put the data from the above post in this tool, it shows a corpus of Rs. 8,00,47,981Is this accurate ?
Sorry forgot to add the link
http://www.moneycontrol.com/personal-finance/tools/provident-fund-calculator.html
15-16 interest yet not credit then how they calculate future interest on balance +interest for 16-17
Jaswinder-Even if they update the statement, the calculation will not effect. Don’t worry.
Hello Sri Basavaraj ji,
I took VRS from my last company after 13 years of service (I had joined them on 16/12/1992 and left on 16/11/2005) Entire amount of PF was withdrawn by me for which I received the cheque in Dec 2005. Around that time, my previous employer also gave me one Scheme Certificate. As per that, my past service upto 15/11/1995 is shown as 3 years and monthly salary is shown as Rs. 4,315. Pensionable salary is shown as Rs.6,500 and last drawn salary is also shown as Rs. 6,500. Date of cessation, as shown in Scheme Certificate, is 16.11.2005.
I joined my present employer on 21/11/2005 and will be completing 58 years on 11/08/2016. I will be retiring on 31/12/2016. I have a few queries:
1. How do I calculate my pension amount? I am unable to get the formula and combination of past service with present service amounts.
2. Will I get pension from September 2016 or January 2017 ?.
3. I had safely kept away the Scheme Certificate for last 11 years and as I will be completing 58 years this year, I approached my last employer. They say that my current employer will need to link their Scheme certificate with my current EPS account. Previous employer says they have already done the needful in Nov/Dec 2005 when I left them.
I have given a copy of that Scheme Certificate to my current employers but they tell me it can be processed only after I become 58 i.e. post August 2016. Is that so or is there anything I need to do before I complete 58 years of age so that I can get maximum amount of pension benefit. ? Kindly advise.
Thanks in advance
Regards
K B DasDas-1) It is explained above. I can’t calculate for an each individual here.
2) Yes.
3) Yes, they are right.
In case if employer deducts PF contribution (for the period FY March 15 Feb 16) from salary and deposits the amount few months late (after Feb 16) in our EPF account then whether we will automatically get interest from EPF because of delayed deposit by our employer.
Vinay-Yes, you will get it.
Dear Sir,
CB: 31-03-2009: Empee: 144210 & Emper: 106654/-
Int updated upto 31-03-2010: 12258/- & 9066/-
Int updated upto 31-03-2011: 12191/- & 9017/-
As I have transferred from one state to another State in the same company the EPF a/c no got changed & there is no contribution in old accounts. Hence only interest got credited.
Now my doubt is how the interest has been calculated for 2010-11.Sahoo-It is on the entire balance.
Hi ,
I was checking my E-Passbook but still the interest amount for year 2015-16 has not been updated. I tried to reach the contact email address given but no response. What should I do now?Prakash-You have to wait.
generally by which month/date is the interest credited to the account?
Vikram-They update it yearly once.
I meant to ask that the interest credit date is Mar 31 so for 2015-16, it should have been showing by now since its already almost end of May. When can the 2015-16 interest be expected to be showing in the e-passbook?
Vikam-I understood your question. But EPFO a Govt body. Hope you understood of what I am pointing 🙂
I am wondering when interest for financial year 15-16 will be credited. It is now 3rd June but still it is not credited.
Sandeep-Wait and watch.
I have opted for VPF in my company, and the amount is getting deducted in salary slip, but in the EPF passbook this amount is not getting reflected in employee share, please let me know is there anyother way i can see this or is it a mistake done by my company. Thanks in advance.
Sriram-It must display. If not, then contact employer or EPFO.
Hi,
I withdrew my PF for the year 2006-07 (when I changed my job), will I be still considered as the member of PF for this period. The reason I am asking is , I would like to withdraw my PF for housing loan repayment and it needs 10 years of PF membership.
Thanks
RameshRamesh-If you already withdrawn the amount then how can you apply for withdrawal again?
Hi Basavaraj,
I withdrew in 2006-07 whatever was accumulated in one year. I have not touched the amount that is credited after 2007 till now..
Thanks
RameshRamesh-You can withdraw.
Sir, I have done 13 years of Service and Currently my Employer shows the balances as follows
Employee : 297451 , Employer : 235085 , EPS : 62366
On that page , below is the statement. : The Grand Total is excluding Interest as PF is being maintained by RPFC.So does that mean these are just sum of all years PF Contri or the Interest also got added every year since 2003 and only 2015 interest is to be added to this amount.
Also what will be my final amount, if this is not inclusive of tax
Sameer-It is excluding interest.
Dear Sir,
Thanks for the article.
I worked for an organization for around 3.5 years and left that in June, 2014. After that I did not join any organization in India.
When I see my latest passbook, I find that last interest was credited to my account on 31 March, 2015. And the passbook is last updated on 26 April, 2016.
May I know why my passbook is not reflecting the interest accrued in FY-2015-16. When will it be shown?Please note that my account is not dormant as It has been only 2 years since I have left the organization.
Anticipating your guidance Sir.
Thanks
Ravi VermaRavi-Interest must be credited if your account is just 2 years old. If it is not reflecting in recent update, then raise the issue with EPFO.
Yes Sir, that’s what I was planning to do. But I am not aware of the proper channel through which I can raise my issue.
I do not have any email ID etc.[emailprotected] is not functioning.
Ravi
Ravi-Whether you referred UAN Helpdesk?
Ya, I tried. But there are some technical glitches.
Do I have any other way to raise my issue to the concerned authority?
Ravi
Ravi-Sadly NO.
Is the interest on VPF non-taxable, like the interest on EPF ?
I understand the amount I contribute through VPF is taxable though.
Shashidhar-VPF and EPF tax benefits are same.
See AlsoEPFO || DASHBOARDS
Dear Basavarj, Lots of appreciation for your thankless efforts to the needy ones.
My request is, from my salary 12% of my basic will go to PF and the from the employer it is 8.33 %, reamaining is towards pension. Is it good for me or not if it is good. Please explain how it can.
Other one is, I have choosen for VPF option, monthly 75% more than the PF amount will be deducted. This amount is also get the present intrest benefit or not.PLease explain.
Thanks
Manju-It is better to be a member of EPF. The reason is, even though you contribute a small amount, in the long run it helps you in retirement corpus creation. Also, if you already a member of EPF with your employer, then you have no choice to opt out. Yes, VPF also earn the same EPF interest rate.
Hello Friend,
PF Total Amount Rs. 1,15,621. From April 2011 to July 2013 – Full time employee, after Aug 2013 to till date working as freelancer. I recently submitted PF documents in the month of April 2016 2nd week and received less amount Rs.12,300. Kindly advice.
Vishnu-Whether this includes EPS in your total?
Hello,
My dad was associated with a company which he left in 1991, he is not having his PF number or salaryslip
all he knows is the company name and the date of joining and leaving (appointment letter and relieving letter he has)
is their any possibility we can retrieve his pf number ??
kindly help if you canVidhi-You have to check your luck with concerned employer or EPFO office.
yaa tried that, Also claimed for a request in RTI
Vidhi-That’s great to know 🙂
‘i left my previous company in may 2010 and i have not withdrawn my pf till date… for how many years i will get interest’
Raju-Up to 3 years you will get interest. After that such accounts will be treated as inactive accounts. So they stop paying interest.
that means he will get interest till 2013 after which his account will be deactivated incase he does not inform to them before 2013…….am I getting it right. Please acknowledge
Jubin-Whose account you are asking? Can you elaborate more. I think either you missed or I missed the question here.
sir I have change my job after 10 yrs but how can I know my pf is transferred or not
Umesh-Check online or through phone.
Hi,
I have withdrawn my PF in the month of Feb’16.
1) The interest for Mar’15-Feb’16 would be credited to my account in Apr’16? Right
2) Many of my friends had withdrawn with me from same EPFO. Few of them have already received their interest 2-3 days back. Should I wait for few more days or check with EPFO?Seema-1) It’s already included in your withdrawal amount. Please cross check once again.
2) If interest part you not received, then you have to wait.
Q1) What happens if you withdraw the corpus in the middle of the year, say November. What is the interest calculation for the duration March-Nov
Q2) on the similar lines what might be the best time to withdraw to get the full interest benifitTarun-1) It will be up to November.
2) When you need the money.
Dear sir,
Some 2-3 days back i got a sms from EPFO of my employers contribution to my EPF account. When i download my passbook from EPFO site it shows contribution till March 2016 but interest from April2015 to March 2016 not updated. Can you please guide me what may be the problem and when will it be credited to my EPF account as it is half month crossed April.
Thank you
AnshumanAnshuman-Wait for update.
When will be the interest be credited for EPFO account for the period of March 2015 to Feb 2016.
(By which date in April 2016??)Vikas-I already mentioned in above post. Please refer.
I have gone through it again, but could not find the answer to my query. Please confirm by which date the Interest is being reflected / transferred in the account.
XYZ-There is no such fix date for update. But usually after April.
I have 7 and half years experience. I resigned my job on last month. Can i withdraw my pf money along with pension.
Saran-NO, because read the recent changes at “4 EPF withdrawal changes effective from Feb 2016“.
Dear Mr.Basavaraj,
Thanks for educating the non-finance officers.
I would like know, in EPF whether we get interest only for the month on annual basis? and is there any interest paid to the accumulated amount for the earlier accumulations?
Vishwamurthy-You mean to say that whether there any monthly compounding or not. Not, it is not monthly compounding.
Hi
I recently resigned nd want to know how to calculate aur what is the exact PF amount ill get.
700 monthly was the PF amount and i resigned after 2.5 yrs ie joining date was july 2013 and resigned 31 jan 2016Surinder-Whether you checked your passbook online? The details will be available there.
Hi ,
Great info. Thanks a lot for sharing.
Small clarification, I have been working for last 5 years. When I checked my passbook , no interest has been added till now. So how to get the exact balance as of now?Senthil-I don’t think so. You re-check and if interest not added, then contact EPFO.
Hello,
In EPF interest is paid monthly, quarterly or yearly?Basavaraj-It is yearly.
Thank you Sir.
It is paid yearly but calculated on monthly basis as illustrated above
Hi
So if I withdraw PF from my dormant account in March-2016 then do I get the interest (which is credited in April 2016)
Please clarify
Regards,
Khushroo-If it is dormant account already then how can you get interest on it?
What abt for active account?
Dinesh-For active account it is yearly compounding if there is no monthly contribution. It is much simple.
Hello Sir,
I quit my previous company last year April which I worked for 9 years. I am not working now and I decided to take my PF account. I came to know that I cannot withdraw complete amount now. In such case previously there was a rule that no interest will be paid for dormant accounts after 3 years. What will happen to it now since if I cannot take my money completely my account will remain dormant till age of 58. Will it earn any interest. Please clarify.
Santhosh-There is no clarity on this part. But we have to wait and in my view, if you not withdraw then they credit interest.
Hi Sir,
I have one query about pf amount. my father was working in small pvt ltd company 20years ago. for 15 years. I don’t have his PF no. and UAN no. please guide how I know PF Status.
Amol-I think you can contact his employer or regional EPFO.
Maine ek company me Nov ‘1999 to February ‘2010 tak kam kiya. Mere PF Amount par kab tak Interest milega.
Shambhu-Up to February 2010.
hi sir
1. how much interest we get on pf ?
2. how much % tax they cut & on what amount govt cut tax ?
3. govt cut the tax after total amount including interest or excluding interest ?
4. I had submit 15G form will it help me on tax, if not then please tell me the use of 15G form ?Thanks
Manpreet-1) Currently it is 8.75%. It changes every year.
2) Since this budget, there is ambiguity on this. You have to wait for few more days for clarity.
3) Same answer as above.
4) Read my earlier post “EPF Withdrawal Taxation-New TDS (Tax Deducted at Source) Rules“.
HI,
I wanted to know if there is any difference between EPF & RPF?
Is EPF interest paid or it just gets accumulated in our account & paid at the time of retirementKunal-Some eligibility features are different. But no such difference in return and all.
Hi Basavaraj,
I wish to withdraw my EPF now in Feb 2016 , i have the below queries.
Q1 : Does i get the EPF interest till Feb 2016 or only till the last Financial Year – March 2015
Q2 : My job has been terminated which is beyond the control of the member, hence TDS/tax should not be deducted as i have served for only 4.7 years and terminated by employer. I have joined a new company almost 2 years back and had earlier applied for EPF through employer, but the claim settlement has rejected and did not get the reason for rejection and also did not get the rejection letter dispatched.
Q3 : Whom to contact for reason for rejection.
Q4 : Does the employer accept if we mention Reason for Leaving the service as – Terminated from Employer.
Q5 : To withdraw EPF and avoid TDS/tax for EPF amount what all forms to submit – Is it Form 19 and 15G is enough or any other forms to submit, as the EPF amount is above 2.5 Lakhs.
Q6 : As i don’t have Adhaar card and UAN for the earlier employer, can i submit the forms in regional EPFO office without Employer signature or can be submitted through employer only.
I have UAN for the current employer only.
Q7 : How much time will it take to get the EPF amount to my bank account now.Thanks,
ManjuManju-1) It will be up to your the withdrawal month.
2) Confusing statements. Need clarity.
3) Contact regional EPFO.
4) Yes.
5) Avoiding TDS does not mean that avoiding tax.
6) YES.
7) It may be around 20-30 days.
Hello.
I am informed that with regards to PF funds, interests would not accrue to the same upon 3 years of accumulation (i.e., no withdrawals).
I wish to know if the same principle applies for accumulations in case of PF Trusts as well.
If possible, please provide the legal source ( either under the EPF Act/Scheme or a judgement/case-law) to support your answer.
Thank you.
Dinesh-Yes, it for all types of EPF.
Maine ek cmpny me 3yrs kam kiya but maine without infm i leav the job fir maine 2yrs baad oos cmpny me resignation ltr bheja is this psble to get my pf?
Biki-YES. Refer my earlier post “New EPF Withdrawal Forms-Withdraw without employer signature“.
Hi sir,
Great piece of info.
Just 1 question , I downloaded my passbook from online account but i didn’t see any interest calculation in it. Is it periodical ? how can i see how much interest i have earned ?Hi Basavaraj,
My pf account number is old one will I able to withdraw without employers signature. Also it’s three years old now employer closed there company.
Prem-Yes, you can withdraw now also. Read my latest post “New EPF Withdrawal Forms-Withdraw without employer signature“.
Hello Sir,
I wanted to know about. PF interested. is PF interest is calculated only after year end?
If i resigned the job for my personal business, so there will not be any PF deposit from my side. But i wanted to hold my PF account as i will be getting interest on the accumulated amount. Here i wanted to know how many year they (PF authority)will give interest if there is no deposit in PF account.Thanks & regards
MaheshMahesh-They provide interest up to 3 years from last contribution. After that your EPF will earn any interest. Hence, better to withdraw before that.
Dear Sir,
I worked with an organization between 19-3-2008 to 13-3-2010. after leaving job I had not withdraw PF from my account till 22.01.2016 my basic salary was 2250 and no DA. PF deduction was 270 P.M. from my account & my employer contribution. but now I have apply for withdrawal of EPF and EPS. how can I know how much amount I received on withdrawal or how to calculate amount received on withdrawal. my account might be consider as inoperative from 2013. I am unable to trace my detail from EPF site & they say contact employer for detail.
Please help me on this.Wasim-If you have EPF number, then it is not a tough task to find details on EPFO Portal.
I have put every detail required to trace inoperative account detail
Dear Sir,
I had joined a company in September 2014 precisely on 15th September 2014 and the company was deducting 2100 as the employee share and 2100 for employer share..so for the September 2014 month the employee share was 1,120, employer share was 343 and pension fund was 777 and then from Oct 2014 regular deductions of 2100 and 2100 stared.
But…….in my passbook on UAN portal the following entries are there
Employee Share Employer Share Pension
Cont. For 102014 1,120 343 777
Cont. For 112014 2,100 850 1,250I want to know if this is correct as the Rs 1120 contribution was for September 2014 month and not October 2014.
Where is my money (2100 + 2100) deducted for October month???Shailesh-You are saying the deduction happened from September. But in passbook it shows from October. I think yoru employer contributed from October. Check with employer.
Yes sir,thats what i precisely meant.The deduction happened from September 2014 but in the passbook the entry starts from October 2014.I will check with my employer.Thanks for your reply.
Hi,
If it is September month salary then the contribution will be shown in October only.
Hi, I resigned from a MNC on Feb 2014 and have been running my own start up company since April 2014. I currently do not have any employees. In the meanwhile I joined my friends company in March 2015 and have a new PF account created.
I wish to withdraw my PF from my company which I had exit in Feb 2014. I have been working for 10+ Years continuously with no breaks. SO I assume that I would be receiving interest on this PF account till Feb 2017. Please correct me if am wrong. Also if I withdraw the PF, is it good to do it in March or April? What are the tax implications in this case?
Swarup-If you withdraw now then how they pay the interest up to Feb 2017? I think you confused about inoperative account interest credit. If you withdraw then they stop the interest payment there itself. There is no such logic of in which month to withdraw. Regarding tax, read my earlier post “Taxation of Employee Provident Fund (EPF)“.
Thanks Basavaraj for your prompt response.
Sorry if I have not communicated clearly regarding my interest till Feb 2017. If I don’t close the account till Feb 2017, then I should be getting the interest till Feb 2017. Is that right?
Suppose I wish to withdraw my PF in Feb 2016, I should have the interest credited till Feb 2016? And I should be getting it when I withdraw
Regarding Tax – I did go through your other link and was confused 🙂 Hope I don’t pay tax for PF interest if I have been continuously working for 5+ years.
Thanks.
Swarup-Yes, your understanding is right regarding interest credit up to Feb, 2017. Yes, you get interest up to Feb, 2016. Regarding taxation, your understanding is fine.
Hi,
My Employee Share 32,300 & Employer Share 11,521 and Pension Contribution 17748 till 31/3/2015.
i have already applied for withdraw so what amount i’m getting from EPFO.Dheer-Same of what you mentioned but EPS based on Table D.
Hi Basavaraj,
I have recently applied for PF claim.but the amount received was less .
when i check with employer,they says only 65 % amount will be credited,rest will after 5 Months,it this true ?Selvan-No it is wrong. You try to contact EPFO and clear your doubt.
Ok thanks.Let me do it
hi.
I’m facing a little trouble.
I am a college student and worked part time with a company for 2 months.
i left the job now but i want to withdraw my pf because i need some money.
my manager told me that once i withdraw my pf, it won’t be generated if i work again somehwere else.
secondly,
every month 1200 were deducted that makes 2400 of them.
any idea how much money will be available in my pf account?Aakriti-He is hiding truth. It is wrong. You can still work. Contact your employer of how much you have as a balance.
hello sir i am shariq khan i am workin in a national institute of fashion an dtechnology from august 2015 and i have completed more than 5 months there from my salary the agency is deduct the pf amount but am not getting any uan number plzz suggest me what can i do..i told to other staff members but they do nothing in this case.
Shariq-Why can’t you discuss the same with your employer?
I am working with a company having more than 250 employee. However, my company does not deduct any EPF from my salary. My finance dept told me that I do not have a EPF account and it is not mandatory.
Please suggest how can I get my EPF account open and how can I force my company to start contributing in it.
Rajesh-They are simply telling lie. It is a MUST.
Hello Basavaraj,
I left the company on August 2013 and did not join any company afterwards. Since I’m doing my own Business,
Now I wanna withdraw my EPF, Is there any chance to withdraw my EPF amount without going to my old employer?
Because recently I heard about it. Could you please suggest to meThank you for your time
raghuRaghu-Yes, you can do it. Read my earlier post “New EPF Withdrawal Forms-Withdraw without employer signature“.
Why my employer withdraw epf amount of employees in 5 year?
Debabrata-How can an employer withdraw employee EPF?
Resigned in Nov2015 and can claim on Feb 1,2016.Would I get interest of fy16 as withdrawal is before end of financial year for pf and their interest calculations. There were similar query but felt the need to clarify.
Vsharma-They give you the interest of up to the withdrawal month (if it is Feb, 2016, then up to that particular month).
Hello Basavaraj,
I left a company 3 years back and did not join any company afterwards. My EPF is still blocked by my old company. I thought they would anyway transfer my PF after 3 years paying interest. When I contacted EPFO office they said PF in my old company was maintained by PF organisation of the company itself. So how do I get this legal amount of mine blocked by the company.Do you have any pointers, did not get much help from the EPFO office queue.Thanks,
NavinNavin-Request them for withdrawal. If they not heed then raise the complaint with EPFO. They can’t block any such EPF amount.
Hi Basavaraj,
Thanks for the information. I have some doubt regarding PF withdraw. I started working from 23-aug-2012 and worked with same employer till 5-oct-2015(3 years 12 days). Then I took approx 50 days gap and joined other organisation on 30-nov-2015. Can you tell me if I withdraw PF after 2 years(after completing 5 years) lets say on 30 jan 2018,
1) would tax get deducted from the PF ?
2) Do we normally get complete PF amount (Employee + Employer) without tax?Sonal-1) Yes, because your contribution for the old fund is less than 5 years.
2) Yes, you usually get the complete amount but taxation depends on the tenure of EPF.But I haves raised request to transfer fund from my old account new account. And once I will complete more than 5 years, and will withdraw Pf, in that case also tax deduction would be there??
Is there any way so that tax would not be deducted from PF?Sonal-Age of your EPF will be based on the number of years you contributed than the number of years you left it idle. Also, avoiding TDS does not mean avoiding tax.
Hello,
My employer was not created UAN, so i only created UAN, and I want to update KYC.
Can I give this UAN to my employer ? If they not accept, what should i do ? What are all the steps i need to follow ?
One more is, I joined to my employer on Aug-2014, and at the end of March-2015, I asked Form16 for the year 2014-15, But My employer not given, After that I logged into incometaxindia website and created account with PAN, and i checked Form26A for the year 2014-15, there is no data, all tax amount is zero. But In my salary slip, employer deducted tax amount. Is there any fraud happened from employer ? What are all tax documents need to collect from employer ? How can i collect it ? In Incometaxindia website, which document should collect ? Please help me
Thanks !!Adiga-Now you create UAN online and same can be shared with your employer. There is no question or rejection from your employer. I am not sure of what went wrong. But check the same with your employer regarding Form 26A missing data.
following statement was made in epass book of pf account. what does it mean sir ?
OB Adjustment- ( AUTO APPENDIX BACK PERIOD )-
IPR(Back Period) (2014-2015)-Contribution only
4,866 1,488 3,378Arjun-I am not sure of what these details are. Better to check with your local EPFO.
sir my gross salry is 7770 then cuts the pf of my salry?
Rajni-Salary for the purpose of EPF is on Basic+DA, but not on your gross salary. So it is hard for me to say.
My last working day is 31st Dec 2015 and I am planning to submit PF withdrawal forms in 2nd Week of Mar 2016(after completion of 60days). Kindly let me know whether I will get interest for the period April 2015 to Dec 2015(or from Apr 2015 to Feb 2016).
As they normally calculate the interest and credit the amount in April(end of fin year), I just wanted to check whether I need to wait until Apr’15 for submitting the withdrawal forms.
Nagy-Yes, you get the interest.
Thank you Basavaraj for your reply. So, I dont have to wait until end of Mar’16 to submit my withdrawal forms correct? Please confirm.
I get interest around 1.5L so I wanted to cross check with you. Thanks again
nagy-YES.
Thank you Basava. I have another question. I joined my present employer on 23-Mar-2011 and my last working day is on 31-Dec-2015 and I am planning to withdraw my PF. As you know I am eligible to submit the withdrawal forms only after 01-Mar-2015(after 60 days).
Now, can you please let me know how EPFO calculates my tenure? Is it going to be 4yrs 9months or will they round it to 5 yrs for calculating the TDS?
FYI – I am not eligible to submit Form-15G so I wanted to check these options
1. If I submit the withdrawal forms after 23rd Mar 2016, do you think they will consider my tenure as 5yrs and I will be exempted from TDS calculation? or
2. They will calculate TDS as my actual tenure with the organisation is 4yrs and 9months.Kindly reply.
nagy-It is 4 years and 9 months only. Even if you consider after 5 years completion, they consider it as 4 years 9 months account only. Because they consider the contributory period but not the contributory+non contributory period. Yes, they consider the tax part and accordingly deduct TDS.
MY SALARY NET PAYABLE Rs 6000. FOR THIS SALARY HOW TO CALCULATE PF AMOUNT AND BASIC SALARY FOR THIS AMOUNT
Hemavathy-Check the basic component of this net salary then to that 12% of Basci+ DA (If DA is there). If you don’t the split of your salary, then contact your employer.
sir i have joined a company in gurgaon in aug-15 and this is my first job.
they are deducting 1080 INR PF from my salary and they have provided me a PF account number also PB/CHD/37710/1036
but it seems that is PF number is wrong.
they are not providing me the UAN number.
please tell me how can i check my balance of EPF account and when can i withdraw the money?Vicky-You have to check with them regarding the correctness or call local EPFO. When can I withdraw money?? It is meant for long-term goals like retirement and all. You are thinking of withdrawing it within few months? Strange !!
Thanks for a detailed help and illustrations.
I need to know is it beneficial to withdraw EPF accumulation or to get a personal loan to pay an amount of Rs 350000/- . I will be able to payback this amount in 12 months max.
present PF accumulation is 1630861.
Per month Deduction is 5640 Voluntary deduction Rs 6110.
it will be great if you reply in details on my email ID [emailprotected]
Thanking you in anticipation,
Regards,
Parag DharkarParag-You can’t withdraw EPF to repay the personal loan.
How much an employer can charge for a loan against my PF?
Pratyush-Why employer charge on advance withdrawal of EPF?
Dear All
One of NGO is running its PF TRUST. From 01st April 2015 they are switching to GOVT. EPF A/c. My query is that a person who has already deposited in PF trust, Can transfer the amount in new EPF A/c. Will EPF provide interest on that amount.Santan-YES.
Sir,
In our contract works, apart from the regular employees, we do en-gauge temporarily for 1 to 5 days. they are not permanent, to-day ‘x’ comes next day ‘y’ comes., we pay them on daily basis., as per minimum wages including every thing. but we doesn’t show in the wages book, as there is not permanent employees in this slot.
but these payments are comes in balance sheet as a Salary’s head.
how we have to justify, as total salary’s shown – EPF contribution paid -doesn’t match.Plz clarify..
thxBhavan-I am not expert from employer point of view. Contact the EPFO.
i will get my PF next month as i resigned in September. They told me that after 60 days i can withdraw my pf. i have a question. will i get the interest till March 2015 to November 2015 with my final PF amount?
Prashant-They set the cut off date based on the process and give it to you.
can you explain little more about cut off dates? are these dates based on 6 months gap??
Dear Sir,
For PF contribution, what are to be consider apart from Basic + DA.
suppose the Total Salary is of so many columns like -Leave Pay, Bonus, Night allowance, Performance Bonus and any other payments. Does the EPF should be calculated on total pay or only on Basic + DA, Please clarify, as from Sep’14 the rules have been changed, and not clear to us.
thank you.
Bhavan-It is as per EPFO rule, which is ONLY Basic+DA.
Hi sir,
As per new rule if i withdraw Pf money less than 5 years, 10% will be deducted. this will happen right away or when we do the tax filing in year end.
Second query is : If no PF contribution made at my account, how long they will give the interest? i mean 1 or 2 or 3 years?
REgards
KrishnaKrishnama-They deduct 10% TDS while giving you the fund. Up to 3 years they provide interest to such non-contributory EPF accounts. Later on, they stop considering as inoperative account.
Thanks for your reply.
4 years i was doing job in india, and all these period pf amount is added, then i resigned and since 1 years i am working in singapore and no pf amount is added in that account. hence can i consider that i completed total 5 years?
Krishnama-It is the contributory period which they consider as service but not idle accounting period. Hence, your service is not 5 years.
If I stay outside India in my life and no chance to complete 5 years and 10 percent. Is applicable right?
Krishnama-Yes, in that case you have to pay 10% TDS. Also do remember that by avoiding TDS, you can’t run away from your taxability on the amount you received. It is taxable income for you in India.
Hii,
I was working in a private company from Aug-2005 to Dec-2014 in Mumbai and left the company on by Dec last year and moved to USA. While I left the company I had completed all the forms and formalities for final settlement of my PF. But after a numerous emails and phone calls I have not received any update from the company. Can you please let me know how can I get my PF amount.
Another thing While I was in that company they were frequently changing the PF accounts in every 4-5 years. Few days back I had loged in with my UAN no and checked the details. The amount shows is from only from Jun-2012 to Mar-2014. Can u please let me know the approximate amount of my PF balance till I left the company.Ref. the details bellow for Calculation :-1) Joining Date was – Aug 2005,( PF Deduction was Rs.445 till June – 2007) after tht the Deduction amount was Rs.780/Month till Dec-2014.
2) Employer Deduction Shows in the UAN account is Rs.241 and contribution to Penson account is shows Rs.539.
Thanks,
Bhabani
Bhabani-Without knowing the start to end contributions, how can I arrive at final values? Why can’t you raise complaint with EPFO through ONLINE?
I have already given the deduction amount, i.e Joining Date was – Aug 2005,( PF Deduction was Rs.445 till June – 2007) after tht the Deduction amount was Rs.780/Month till the end Dec-2014 and employer contribution was the same,
Regards,
Bhabani
Bhabani-Why can’t you check the same in your passbook?
In passbook it says Rs. 90170/- thts why i just wanted to know the approximate amount,
thanks,
Bhabani
Hi Sir,
I am planning to relocate to US. How long i can hold my current EPF account with no contribution (as per 2011 guidelines, its 3 yeares, after that i will not be getting interest, is there any change in the duration of non contribution account for interest accumulation).
Thanks
VamsiVamsi-No change in such rules. But keeping idle account is dangerous. Better to withdraw.
Hi Sir,
Need a Clarification on New PF rule change impact. If I have a establishment and say less than 15 employees, with a basic monthly salary of < Rs. 15,000, what will be the PF contributions from EMPLOYER. I thought it is mandatory EPF of 3.67%.
I understand it is 12% from employee but I would like to know more on 'employers' portion on this updated PF rules.
Advance thanks
Muthu-First, if employee strength is less than 20, then your organization will not come under EPFO. Second, being an employer, you can restrict your contribution to either 12% of Rs.15,000 or 12% of actual salary.
Hi,
Going through your calculation and explanations,
1.lets say that a company deposits the EPF on or before 15th of the month, the contribution will only be taken for interest in the next month.
2. how long does it take for the contribution to show up on the passbook if the company deposits on or before 15th of the month.
3. To prevent loss of interest, can a company pay up the contributions before the month. ( eg Salary+PF contribution for a month lets say September is paid by 25th of the month)Saurabh-1) It is not before or after 15th, but interest will be calculated on average monthly balance.
2) Once in a year they update.
3) Do you feel your employer so generous?
Sir,
I have worked for a Private company in the year 2011 and after 8 months i could not continue my job. (Initiated my seperation process) but could not complete my notice period of 3 months(completed only 1.5 months after that had one surgery done). Company sent me a showcause notice for which i did not respond. The mail said if i don’t get back to them in written letter within so and so date i will be terminated. no action taken from my side. now i want to withdraw my PF now as i am not working for a long time now. How to withdraw my PF money as if i contact my previous employer i might get in trouble. I tried to register for UAN but that too says it will go to my employer. They might have forgot me after 4 years now.
Please advise (if any) a way to withdraw my PF.
Thanks,
BaraniBarani-No need to contact them. Fill the Form 19, get it attested by gazetted officers or PSU Bank Managers, and write a letter to regional EPFO stating reasons of attestation instead of an employer. Also, create an affidavit stating that you are currently not working. Send both form and application, along with affidavit.
Thanks a lot, Basavaraj.
Will do the same soon
Hi Basavaraj,
Heard that EPF is going to put cap of 75% on premature Withdrawal amount as per new law to be implemented from Ministry of Labour.
Will this apply to Inoperative accounts also as i have been without a job and no contribution for a long time. Is there any way to get 100% amount.
Thanks,
BaraniBarani-Let that “TO BE IMPLEMENTED” law be reality, then we discuss 🙂
Sir, While joining 2nd company, i have filled a form to transfer old pf account to new one.
But how do i get know whether my old pf transferred to new one or not…??Dileep-check your status online, check the balance or directly contact EPFO.
Sir in the above article, the joining of Mr Ajay is in June 2013 and in the table it is mentioned June 2012.
Karthik-My error and sorry, I corrected. Nice notice 🙂
Dear sir
My mom take volu tary retirement and apply for. Pf on 24 april 2014. And received pf. On may 2015
Whether we can claim for interest for this aprrox. One year
RegardsRahul-I did not get you.
Hi Basavaraj,
Gud evng,
A small Query..
Will i be getting the Employee & Employer shares only or even the pension contribution will also be given to me when i apply for the PF?
Ashwin-You get EPS also (but not fully, and based on Table D of EPS rule).
I am defence employee. I want to know how to get UAN NO
Anupam-Please read my earlier post “EPF Universal Account Number (UAN)-What it is?“.
I am working in a Ltd Co. and after how many yrs I can withdraw my EPF amt, pls.
Anil-You are eligible to withdraw only when you retire or leave the job permanently.
sir, i m working in GTPL Broadband pvt ltd company since 23 jan to 23rd august 2015, and my pf deduction from my account is 850 ,recently two-three days ago i gave my resignation letter and now when i check my epf balance online then its shows only 1150 , want to know why is it so..?
Prince-I am not sure about this. Either your status may not yet fully updated or your employer not deposited the amount.
I am working in a pvt organization and contributing in recognized PF run by the same organization. If I withdraw my PF amount in October do I get the interest for March to October period ? If not, how to get it.
Sajal-YES.
Basavaraj, taking the query of PF withdrawal in the middle of the financial year, at what rate will the EPFO pay the interest for Apr to Oct since the interest rate for current FY has not been decided yet?
Saket-It is the interest which was set at previous year.
Hi Sir,
Can you plz help me out my pf deducted 666 rupees from may 2011 to till aug 2015 . how much amount calcuted till now for my provident fund.
included interest and etc..
Yogesh-Take the pain, calculate on your own by following the above method.
hi sir,
I wanted to invest I’m mutual fund but I don’t know anything about it.Could you please let me know in which mutual fund I should invest. I am thinking for long term investment.
Regards,
RohitRohit-Let me know what is LONG TERM for you.
If we transfer epf from old a/c to new a/c, then that transferred amount will be considered in the interest calculation or not?
Sandip-Yes.
Sir – Is there a rule which says – that when a person’s marital status is changed from Unmarried to Married, the existing nomination in PF becomes void? And one has to re-nominate people ?
FaniBhusan-This rule is not only about EPF, but to all financial holdings. Once you get married then the first legal heir will be your wife (even if you not change the nomination).
Hello Sir,
I am working in the company from November-2014 but our consultant opened my PF account in the month of JAN – 2015 , where my company deducted my PF amt from nov-2015 of RS-1500 / month so from nov-2014 to till july-2015 my total amt is 13500 but when i have checked my PF balance it is showing less and i came to know that my company is paying PF to me from JAN – 2015 so its a loss for me , kindly suggest how can we take that two months difference amt from company .Amruta-If your employer deducted EPF from your salary but not deposited the same with EPF account is means it is illegal. You can first discuss the issue with your employer. If they not return the money or not deposit to EPF account, then raise the issue with EPFO.
Hello Sir,
I have recently left the job (17th March) and joined in a new company where the strength is less than 20 people. Hence we do not have the option to avail PF in my new company. My previous company submitted my PF withdrawal in July 1st week and seems like there is a new rule of Tax deduction if the PF amount is taken before 5 years. I worked in the company only for 3.5 years. If I withdraw the amount now, I will have to pay tax for all the savings that I have done these 3.5 yrs. Also they want me to fill an additional form for the same. Please suggest if I shall leave the accumulated amount for another 1.5 yrs and then withdraw it in order to avoid TDS. And if I would earn the same interest for the accumulated amount as I did when i was paying. I understand that it wouldn’t become inoperative till 3 years. Appreciate your help.
Krupa-Avoiding tax is the only concern then the working period still considered as 3.5 even after the wait of 1.5 years. Because the number contribution they look but not the idle account.
sir i was been working for infosys from past 8 months & i have left the infosys job in 2013,during this i am having 1 pf account.
later i was joined in wipro there i had one more pf account in 2014.
now can u please suggest me to take or avoid the pf withdrawal from my Infosys pf account.Rajan-Transfer to current EPF.
Hi,
I left my job about 2 years back but not applied for withdrawal or transfer. As per the information it should earn interest but downloading the deposit data (detail) it shows the same date of last update which is of 14 months back. So there is no interest credit into this account for last 14 months.
Kindly help with possible reasons and solution.Mallick-Wait for next update.
I never withdraw my epf amount since last 5 year from the date of resignation. Will my pf amount earn interest on the amount lying on the pf account.
Arun-It earned interest up to 3 years from last EPF contribution. Later on it was considered as inactive account. Hence, the balance is just like that without any further interest addition.s
Hi, I worked for PVT company for 3.5yrs, recently I resigned . When I checked my PF amount online it shows me EE amount: Rs 58771( as on 31-03-2015) which seems to be correct because that is the total amount which had been deducted from my salary since i joined the organization but the ER amount is Rs 32780( as on 20-04-15) . I applied for PF withdrawal i got Rs 1,12,000. Could you please explain me on which bases my ER is calculated(total amount is calculated). why there is difference between EE and ER contribution.
Sridhar-Because in your ER part 8.33% will go towards EPS.
Thanks for quick response, but it should be 12% right.
Sridhar-Please read my earlier post “Employee Provident Fund (EPF)-Changed rules from 1st Sept 2014” to understand about how ER 12% split.
Even if it is 8.33% means that should be around 40k. please suggest me how they calculated.
Sridhar-Your ER balance is EPF Contribution+Interest on such contribution+Part of EPS (Based on Table D).
Ok, thank you Raj.
Thank you for your wonderful article and information on various tax related matters.
I read in some internet source that tax benifit cannot be claimed for principle or interest earned for employer contribution for EPFO scheme under section 10 (D) and other section at the time of retirement.
I would be thankful, if you can clarify whether both employee and employer contribution and its interest are tax free at the time of retirement or interest earned in employee contribution is only tax free ? What are the tax liabilities for employee and employer contribution at the time of retirement ? I would be thankful, if you can eloborate this matter.
With Kind Regards
Aravinda-Please read my earlier post on taxation of EPF at “Taxation of Employee Provident Fund (EPF)“.
Dear Sir,
I am working in private construction company in last one year my EPF contribution split up on Employee Share+Employer Share+Pension fund (1578+483+1095). Suppose i am resigning this jobs for one or two months later i will get the full amount (or) deduction the pension amount. Please Confirm
Rabbani-It will be full amount of both you and your employer contribution towards EPFO+Interest on that. But part of EPS(Based on Table D).
Sir,
what is it means Claimed by para 69 (2) in UAN Member portal. When will the pf amount will be credited after applying.
Raj-Please discuss the same with your current employer.
Hi, I am working in a Pvt Ltd organization since Sept 2010. When I checked my PF amount online it shows me EE amount: Rs 48581( as on 31-03-2015) which seems to be correct because that is the total amount which had been deducted from my salary since i joined the organization but the ER amount is Rs 14849( as on 20-04-15) which seems to be incorrect because i know for the fact that the employee contribution and the employer contribution is same. For ex- if my contribution is Rs 600 then the employer contribution should also be 600, so i will be entitled for Rs 1200 at the end of the month, so for the year it should be Rs 14400. So if go my this calculation then till now my ER amount should also be kind of same as of my EE amount or nearly less than that. Kindly help and suggest on the same.
Devesh-ER contribution towards EPF is only 3.67% and that is what is showing.
Dear Sir
i have worked with an organisation for 4 months starting March.My epf amt is 2450 .now iv quit the company.They have asked me submit the claim form incase i dnt have a job for 2 months.In final setllement the amount shown is 7350,which is only 3 months contribution.How do i check if it has been deducted in March as well,Also acrrding to new brk up ,in 12 % of employers contri 8.33 % goes to pension sceheme.since iv just wrked for 4 months,will i receive this amount???Kavya-You will not receive the full amount of EPS. That is the reason it is showing less than your contribution.
Dear Sir,
Suppose we resign the company job that time how to get the EPS amount?
Rabbani-It is based on Table D of EPS.
Dear Sir,
could u please tell me after leave the company, How Many days after I can claim for PF.
Employee Share + Employer Share + Pension Cont , These three shares included will be added time of claim. OR not.Manoj-Once you leave the company and you no longer in mood to continue you job then immediately you can withdraw. Yes, it covers all (But EPS in % based on the number of years you worked).
Dear Sir,
Could you please tell me I am working in pvt. ltd co & deducting pf, and I want to leave this company before left the company , Can I claim for PF ever.Manoj-No..You can’t.
I Have worked in a company for 20 months.Rs.690/- amount deducted from my salary as PF.How much PF amount i will get? & I am Consolidated Employee.
Raviteja-It is hard for me to calculate and provide solution for individual comments. Hence, suggest you to go by above method.
I am 54.5 years old. I recently resigned from company. I do not want to withdraw epf amount. I want to continue it till my age of 58. If I do not work anywhere in future and no contribution will be made in epf account, Can I get interest? Can I just keep my money there in epf without withdrawing it? When my pension will start? What is the best option for me. Please reply and suggest.
Bhanudas-I suggest you to read my two posts. They clear all your doubts. “The complete guide to Employee Pension Scheme (EPS) 1995” and “What is Inoperative EPF Account and how to track it online?“.
I want to know the latest update news abt the PF.
Is it true that if you spend more than 10 years in a same company then you will get only 75% PF amount rest of the amount will be given you once you crossed 60 yrs as a pension .
Vipin-May I know the source of this rumour?
Dear sir,
Could you explain me about OB adjustment ?? [[OB Adjustment- ( AUTO APPENDIX BACK PERIOD )- IPR(Back Period) (2014-2015)-Contribution only]] what is mean by this sentence which is in bracket ??Vimlesh-I am not sure what it is.
You get this when your PF contribution was not updated automatically into your PF account but had to be manually done by the EPFO department.
I was an employee of State Bank of India from 1995-1999 for 3.5 yrs . After that I went abroad and sent my resignation by post in 2001. I did not receive any response from the bank. After coming back to India after 10 yrs, I followed up with the bank for my PF dues. They made me go around them hundred times, and finally last week they said they will pay me interest only upto 2006, because that is when they accepted my resignation it seems. But I find it unfair because I will lose 9 yrs interest from 2006-2015. What is the EPF rule about interest payment, isn’t it calculated until the date of payment since the funds were with them?
Srini-Please read the conditions of the same and how the interest calculated on inoperative accounts, at my earlier post “What is Inoperative EPF Account and how to track it online?“.
Dear sir
my pf account ialdermanis satalde d. But interest amount sowing when I download e passbook. Can I widrwal it. If yes that what is process.Dinesh-You can’t withdraw it if you are in job.
Dear sir,
i am worked my last company 6.5 yeat now i joint new company , if i withdraw my pf amount can i withdraw my pension amount also. or transfer to my new pf account
pls suggest wich one is better way.Vinod-If you withdraw your EPF then along with that you get EPS also. However, this EPS withdrawal will not be fully (in some %). Hence, better to transfer.
Hi Basavaraj,
Thank you for providing such good information and helping to all of us.
I would like to know about the interest calculation of PF.
2014-15 Interest got credited into my PF account.
I would like to withdraw now, will i get the interest for April, May and June Months for my PF amount.
Please let me know.
Thanks,
RamuRamu-Yes you get it.
I have joined in X organization 2010′ Sep and i left after 3 years then i joined in Y organization so am about to finish total 5 years in the coming Sep. If i will withdraw PF from the first organization after completion total 5years i.e. in Oct2015, tax will be calculated or not ?
Srikanth-Yes, because the service period is less than 5 years. Your own service may completed 5 years. However, contribution to that particular EPF account is less than 5 years.
Sir,
I want to know how PF amount is calculated under old pension scheme. is it on daily basis, monthly basis or yearly compound rate rate taken?Krishna-I am unable to understand about what is OLD PENSION SCHEME?
Hi basavaraj,
First of all, Thanks for the article. It is very informative.
I would really appreciate if you can help me out with query as I dint get any concrete info from anyone
I have worked with my previous organization for 4 years, While leaving I duly taken all the PF related documents and submitted to new employer. My PF amount amount has been transferred without any issues, however my pension amount which is of 24,000/-( shown in statement of old company) hasn’t been transferred to new employer. Though I have sent many queries to new employer, they are saying that old employer hasn’t initiated and no response yet from old employer on this from last 1 year. If it is not possible to transfer to transfer, I am ready to withdraw( I prefer transfer though). Some people also have suggested me that pension amount would not transfer and only details such as last salary drawn details would be forwarded. Please help me out on this. please tell me what are possible options I have.
Thanks in Advance
Sandeep
Sandeep-There is no special process to transfer EPS. It will follow your EPF. Hence, I think it is also transferred. Check properly with your current employer.
Hi Expert,
I’m in service with my employer for the past 6 years. Now I need some amount of money for new flat purchase.
When I have approached my employer for the same he said I can apply for PF loan. And then I have asked if any interest will be charged on my PF loan, then my employer answered that no interest will be charged and also they redirected me to any near PF office to clear my doubts how interest is not charged and etc.
I want know from you the exact procedure of opting for PF loan.Thank you.
Naga-I hope my earlier post “All about EPF (Employee Provident Fund) advance withdrawal“.
Dear Sir,
This is Guru here, I have received notice from PF Department How to pay Interest u/s 7Q and Penal Damages u/s 14B in ECR or is there any other way to pay
Regards
Guru Shelar
Guru-Are you an employer to receive notice from EPFO regarding request to pay interest u/s 7Q? It is the notice to an employer but not an employee. Hence, I am unable to comment.
Sir,
I am the Employee of Company. Company got notice as a accountant how to pay that Interest and Penal Damage.
Guru-I am not an expert in that matter.
Dear sir,
I left my job after working for 8 months. I am now applying for PF withdrawal. The amount which is showing in my e-passbook of PF is about Rs 10000 combining my part and employer contribution. But there is another section of EPS-95 in which about Rs 4500 is mentioned which was also contributed my employer. I got to know that it is the amount under pension scheme. With the PF withdrawal form i also got Form 3C for EPS now i want to ask you can i withdraw that EPS amount also or not as i worked for only 8 months in that company. And if i cant withdraw that amount now then when will i get that money or i will lose that amount???
Nikhil-You can withdraw EPS too. But not fully. Regarding complete guidance of EPS, read my last post “The complete guide to Employee Pension Scheme (EPS) 1995“.
How much i get in return of EPS. As i have worked for less than 1 year.
Nikhil-There is no interest on your contribution to EPS. You get only the amount you invested and that too in some %. Read the details in my earlier post “The complete guide to Employee Pension Scheme (EPS) 1995“.
Sir
I left my organization and filed for final withdrawal in form 19 . my claim settled on 25-04-2015. the amount they credited is same that i received in e-passbook of epf as on 31-03-2015 (i.e. closing balance after crediting intrest). as per your comments i received intrest only upto february 2015, so my intrest upto 25-04-2015 is pending with epf. can i claim remainig intrest from epf.
Rajendra-But whether the pending interest is reflecting in e-passbook?
Respected Sir,
My self My Name is Yakanna
How to Calculation Basic salary & at present PF Calculation ( Employee & Employer )
How to Calculation PT pls give clarification
T/R
Yakanna
9849552838Yakanna-It is already explained above.
In addition to my earlier query, i would like to ask with respect to your answer to Mr.ashwin regarding pension amount. what if a person withdraws his PF amount and he does not get his pension amount, will it remain in his PF a/c for future withdrawal or it will be lost.
Imran-Please read the pension rules regarding EPS in EPFO portal.
Still my query regarding the pension amount is not solved. There is nothing mentioned against same in the EPS rules which solves my question. Can you help out. Will repeat my question:-
If i withdraw PF amount and i don’t get my pension amount now, does this pension amount remain in the a/c for future withdrawal or govt. takes it back.Imran-It takes back. It will only continue if you mention the same EPF number for future investment or transfer the old EPF to new.
Thanks for reply. One more thing. Is it possible i withdraw PF amount and transfer my pension amount(which i did not receive) to new PF a/c.
Also do i get interest on PF amount which is in my a/c even if there is no addition in that a/c(as i left the organization).If yes then till what time period do i receive this interest.Imran-When you withdraw all balance of EPF then how can you transfer? You receive interest on such inoperative account up to 3 years. After that they stop to pay you interest.
dear sir,
can you help in PF interest calculation. i have given below my PF amount for 2010-11 for 4 months. help me in interest calculation. also provide me interest % for 2010-11 till 2013-14
Month Employe Employer
april’10 – 267 81
May’10 – 420 128
June’10 – 420 128
July’10 – 420 128Hi Sir,
I have logged into EPFO website using UAN number and found that there are 3 sections which are bifurcated as “Employee”, “Employer Share” and “Pension fund”.
My question is that if I opt to withdraw my account within 4 years of service will I be eligible to get the pension fund.
If not how I can go about to get the Pension fund.
Thanks!
Ashwin-No, you will not get the PENSION Amount. There are certain eligibility criteria for eligibility of pension like 10 yrs of service.
Hello,
I worked in a company for more than 5 years before resigning. Its been 2 years since i left previous company but have not withdrawn PF. My current company doesn’t provide PF facility. Recently i came to know that interest is not credited to my PF account since 2 years. Can I withdraw PF now even Hello I am working in a company which does not provide PF? Will I get interest of previous 2 years when I withdraw PF? Please answer my questions.
Thanks.
Guru-You can withdraw it.
Thank you sir. Should I approach my previous employer for withdrawing PF or I can go to PF office directly?
Thanks.
hi sir,i have doubts,please help?
My sister has joined and her salary is 20000 and pf deducted is 1800 as per new rule and now almost 5 months
1)Do she have option not to opt for Pf anymore and can save that amount in bank?
2)Since in EPS as per my understanding it is saying 10 years continous service then it can be claimed at 58 years but she may a take a break and may or may not continue job so her pension amount which is 8.33 % is lost?is it right
Please suggest what best can be done?
Neel-Rs.20,000 is a definition of salary or gross salary?
Dear Sir ,
As a fresher I was start my job in Jaipur year 2011 and my company has been deducting money for EPF as per rule later I switch my company and they don’t deduct any EPF but currently I am in a limited company and they deducting my EPF so my concern is my previous EPF account number is continued automatically or its start with a new one.
Jaydayal-If you want that old account to continue then provide that number to your new employer. In your case it will not continue automatically (Unless you have UAN and you provide it with your new employer).
Dear Basu…
i have joined work on 9/04/10 and my last working day was 06/03/2015. And my total PF is Rs.278.000/- in my PF account…how much interest i may get in final settlement………?
Prakash-It is hard for me to calculate all 5 years calculation and without knowing how much monthly contribution for these last 5 years.
My earlier PF a/c was starting with TNMAS from there it was transferred to KDMAL, but during transfer of amount only PF amount was transferred and not pension amount. would like to know why this pension amount was not transferred.
dear sir,
i would like to know if it is possible for me to get complete statement of my epf a/c from date of my joining till my leaving of company.
Imran-You will get based on FY but not from the date of joining to till your leaving.
then how can i know if correct PF has been deducted and paid to EPF office by my employer.
secondly my pension amount from old PF a/c was not transferred to new a/c. why is it so.
Respected sir,
I want to know that,
Can any company deduct 16% epf of our salary when salary is Rs.12600
And the company deducting rs.700-900 Esi.
I think this is frod
Pls sir suggest me what is right…Manoj-No they can’t deduct more than 12%. They can deduct more only when your voluntarily accepted to contribute.
sir i am working in a bangalore based company in Chennai, i am getting 16500, but i dont know how they are deducting PF & ESI from my salary, hence can you please advice us the calculation of the ESI & PF
Hemalatha-It is already explained in my earlier post “Employee Provident Fund (EPF)-Changed rules from 1st Sept 2014“.
Sir,my father was death on last 2 year but company not given any amount of P.F.to till date, what can i do.(company said just wait..& wait)
Amit-Approach the regional EPFO office.
sir,WHICH DOCUMENT WANT IN REGIONAL OFFICE TO ENQUIRY IN THIS MATTER
only payment slip is sufficient to show regional officerAmit-You must have your EPF Account number.
thank u sir
thank you very much for above posts.
its truely very much useful.can you please suggest the way to transfer pf from trust pf to general pf which would take minimum time.?
Giriraj-Whether it is trust or general EPF, it does not matters to you.
Thanks for this useful information, pl describe me about pension plan and its caluclation
Dear Sir,
What is the current rate of interest of EPF and from which month the interest is calculated?
Supriya-Currently the rate of interest is 8.75%. Calculation of financial year for this calculation is already mentioned above.
I want to withdraw my PF , was waiting for this year interest on my PF amount, do you know when interest in actual credited to PF account, in my Passbook can’t see any thing as it is still showing last updated in 18 Nov 2014.
Should i give request of PF withdrawal as it is 2nd April( I want my last year interest to be credited) , or wait for some time more. from last 6 month i am not contributing PF as i am not working in india.
Ravi-Please read above post in detail. You will find the answer.
i have checked the epf balance through online portal it is showing clear balance as 32ooo rs and i am waiting for amount to get credit but please let me know how much final amount will be credited to my account i worked for 2years , please let me know how much amount will credit to my account
Ajay-I can’t quote so widely.
Ok Sir Thanks For your reply 🙂
pf bus itna hi milega
what is the date on which PF interest is calculated? Is it 31st March every year? I do not see any interest added today
Kiran-EPF accounting year starts from March and ends on February, but interest will be credited on April every year.
Thank you
sir ,
I want to know about CFP ?
Would you tell me please…Afzal-What information you want? You can get all information about CFP on FPSB India portal.
Dear Basavraj Ji,
i am working for TATA group in pune. i am monitoring my PF from my monthly salary slip right from the joining and crosss checking it with online EPFO website. Both the amounts ( my record from salary slip and the amount on EPFO/UAN website) matched till feb-15 month, i.e contribution of PF till Jan-15 month. But i do not see the contribution of PF for Feb-15 month on EPFO website. i mean too say that my PF has not been updated for Feb-15 month salary. will you please comment on which date of the monthly the PF gets added on PF account? and when intrest is credited; monthly/annually or at the time of PF withdrawl?
Sandip-When they calculate and will add to your account is already written above. But I don’t know when they update your passbook monthly.
Does EMployer have rights to discontinue EPF deduction
Santosh-No.
hello sir,
My salary is only 12,000/- per moth.How many rupees will transfer to my epf account.How can I take befit of my EPF account.Still my company not provide me a passbook .If in necessary time I want to withdrew my money then how can it I should do ?
Arundhato-Please read above post in detail You get the idea about how many rupees will transfer to your PF account. For your information, employer not provide you the passbook. You can get it online from EPFO portal.
Hello,
I have applied for closing my pf account by submitting Form 19 and 10C.
Both the forms get rejected for 2 times, they have not mentioned the reason for rejection. The below is the rejection report.
Claim ID : TNMAS140700053913
Status : Claim Form 10C for Withdrawal Benefit AGAINST Member Account No (TNMAS00838800000000002) has been rejected. Rejection letter is under dispatch/ dispatched to address in your claim.Claim ID : TNMAS140700053912
Status : Claim Form 19 for PF Settlement AGAINST Member Account No (TNMAS00838800000000002) has been rejected. Rejection letter is under dispatch/ dispatched to address in your claim form.
Reason of rejection: The reason of rejection is not available in database. You may please contact RO/SRO CHENNAI for further detailsBut suddenly 2 day’s back i got the refund deposited directly to my account, but only a part amount (employee share + employer share) not pension fund.
Claim ID : TNMAS150300015838
Status : Claim Form 19 for PF Settlement AGAINST Member Account No (TNMAS00838800000000002) has been approved. Payment is under process.There is no update about form 10c, Please let me know should i approach the PF office again to get details of form 10c? As long as i searched in the net there are 2 different answers. Some people says that pf refund will be in 2 installments, the second installment will be automatically credited to my account within one week.
And some says that we cannot withdraw pension fund before 10 years / 58 years of service.
Please clarify which is true and will i get my pension fund or not? if yes, how long should i wait?
Please guide me the right procedure to get the pension fund.
Thanks in advance.
Dhilip-You have to wait. Yes what you heard about EPS is true.
Hi Basvaraj,
Thank you for your reply. But please clarify which one is true. Will they deposit EPS amount directly to my account within a week or EPS cannot be withdrawn before 10 /58 years of service?
If not should i approach my PF office for withdrawing EPS using form 10c again?
Thanks in advance
Dhilip-Withdrawal not possible in EPS. It only be transferred. You can get it only after completing minimum service period.
Hi Sir,
Thank you so much for all detailed information. I also wanted to know the interest credited to my withdrawed epf account. As per your suggestion I downloaded the e-passbook, but it states the account statement is not available as it has been closed. The company got shut down. In my previous company, (which also shut down) I got a statement via post in which everything was stated but nothing this time. Please help me to calculate the interest credited in my account.Noor-Whether you currently working? If so then it must show in e-passbook.
Hi,
Let take my pf amount is Rs 100000 now(5 Mar 2015). Pls advice me interest of last year added or it will added only in the month of April. I am applying for claim now. Is this suitable time to get claim or can I wait for some time. Note: I am in the need of money though I am unemployed
Thanks.
My salary above Rs. 20000.00 per month, i am eligible for epf or not? My employer is not continued my epf account.
Satyam-Salary means basic+DA or gross salary?
Recently, I downloaded my “Member Passbook” from EPFO website. I can see employee along with employer share. But, I did not see any interest calculated on the total amount. Is this hidden in employer share ?
AKG-It is not hidden. Please check earlier updates.
Hello,
I am Rebin. I do have an amount of 36035/- in my PF account. starting from 01/08/2012. My share was 780 each month and the company share was 239 each month till 01/26/2015. After that i resigned from there. Can you please tell me how much is the “interest” amount in this account.
Please help me…Thanks,
Rebinadding to the above note
employee share is 18410
employer share is 5757
pension fund is 11868
———————–also, if i am closing this account I will be getting the sum of the above three, right???
please help me…Abdul-Hard for me to do. You can check in your passbook online.
thanks yaar…
the passbook says 156+53 at the month of march 2013 and another 932+292 during march 2014
so the total interest amount credited in my account is 156+53+932+292. Am I right ?and when i am closing it, i will get my share + Company share + pension; am i right?
also tell me the interest i mentioned above shown in the passbook is the only interest amount in the account.Abdul-When you withdraw before retirement then EPS will not be possible to withdraw. Rest of amount you can withdraw.
Abdul-Correct.
Hello,
I am about to claim my ex employers epf balance this month itself which i did not claim since last two years, so just wanted to know that since you said the interest gets credited at the end of every financial year. my question is, as this is the month of Feb so shall i wait till 31st of march’15, to get the due interest or they will anyway give my due interest on pro rata basis even if i submit before 31st march.Waiting for your valuable reply.
Thanks & Regards
Ajay-It is hard how they consider. But letting idle account is dangerous. Hence suggest you to act immediately.
Hi,
As you told that 3.67% of the basic salary+ DA will be contributed to EPF. But what about EPS and EDLI deductions I mean I withdraw my PF then I will only get 3.67% of employer contribution. Is EPS and EDLI also included when we withdraw PF? I am confused here.
One ore thing I want to mention that my employer was deducting their EPF from my CTC? What should I do in this case?>
I am working in a PSU for the last 6 years. My PF balance is around 7 lac and i am contributing around 6000/- month.
So in this case how to calculate monthly interest on my deposit? can you pl give an example using excel?Binnu-You can go through my earlier post “How EPF (Employees’ Provident Fund) interest is calculated?“.
My question is that if my salary will be hike above 15000Rs. is my PF account will be closed or it will deduct continuously???
Hemant-It will continue.
Question:-
I Joined the Organization on 30th Aug 2010 and Left organization in Dec 2014. I moved to out of inida in Dec 2014 so no PF transfer option I had.
My question is if I do not withdraw the money, till when can I get the intrest on that amount? If i Withdraw the money, will it be tax payble? Tax will be deducted by EPFO or I have to submit the intreste earning while filling theIT return.Deepak-Interest on dormant account will continue up to 3 years. After that they stop to credit interest. Regarding taxation of withdrawal, refer my post “Taxation of Employee Provident Fund (EPF)“.
8.33% of Employer Contribution to EPS does there a limit/cieling. I have seen some updates the deduction limited to certain amount. What is that amount ? if the amount is beyond that does the excess amount from employer contribution get added automatically to EPF instead of EPS.
Adi-No I am not aware of any such minimum amount.
Hi,
I see in my PF statement that the interest for the Employee contribution & Employer contributions per month are calculated and added every month.
How ever i do not understand how the interest is calculated on my last years balance or this years opening balance amount. will that also be 8.5% of the actual outstanding amout ?
want to know at which month that interest on opening balance amount will be added to the total. ?Thanks,
BoopathyBoopathy-Process already explained above.
I left organization on 24-06-2011. Now I transferred my PF to current PF account. I got interest for
2011-2012 – Got Interest
2012-2013 – Got Interest
2013-2014 – Did not get interest
2014-2015 – Did not get interest
As per rule I should have to got interest up to next 3 years, after leaving the organization after that account will get inactive and no interest will get added. Could you please help me to know up to when I should get interest and if I didn’t get interest as expected then with whom I should check\contact?Indrajeet-You got the interest but may be not updated in your passbook.
and also my salary was there company is 10707/-
Sourabh-I can’t calculate it without knowing the further details. Why can’t you contact EPFO?
Hi sir i did work at pvt ltd company 2 years and 11 month so did i know how much pf amount will be save in EPF account ????
Hi Sir,
i am working in pvt ltd company , now my pf slip shown opening balance is Rs 17356 as on 13-14. interest amount is Rs.1881/-how i will calculate and 2013-2014 contribution is 9203.
Gopi-Please go through calculation in detail.
Hi,
I read your article on EPF and it was very helpful. Thank you.
I was hoping that you could help me figure out if the EPF balance shown in my PF account is correct.
My payslip shows 2 different PF account numbers for the 2 years that I worked for the same company.Details:
From June 2011 to July 2012, Rs. 600 has been deducted for PF.
Then from August 2012 to April 2013, Rs. 765 was deducted for PF.
PF no. is different from May 2011 to April 2012 and from May 2012 to May 2013.Could you please calculate and tell me how much I stand to gain altogether when I withdraw my PF amount in april 2014?
Thank you.
Hi Sir,
Thank you for sharing awareness and spreading knowledge.
My query is – I had worked for an NGO from July 2011 to March 2014 (32 months) where I had an PF a/c. From April 2014 I had joined another firm and there is no PF facility.
Now , I had no choice rather than withdrawing it. Please let me know, whether I will be taxed as I am withdrawing before 5 yrs ?? And is there any better solution to get exempt from tax? Please adviceSohail-It will be taxed as per EPFO rules.
Hello sir,
My question is my employer has deposited employer contribution part after two year’s and 1 year employee part recently now do i get any interest on that amount retrospectively or no interest will credited for 2 years.
Please reply soon
Surender-It is not your fault. So you get interest.
Dear sir,
I Subir Banik inform you that, My father is a serviceman in bank sector. He had 4-5 year left to be retire. Recently he applied for an “EPFLoan” and it sanctioned for my elder brother’s marriage. Now the marriage has been cancelled. The loan amount is nearly 4Lac.
1) So is there any chance to cancel the loan and refund it.
2) Is there is any situation to refund it with any penalty interest.
3) Can I simply keep the money for my brotrhers marriage later.
4) Is there any chance of imprisonmaent.But the bank have signed my father in a “NRW7” form which says i can refund it with “.interest at a rate fixed by the fund”.
So please let me know how much interest I need to pay to refund the money as I have 15 days left to complete one month of the loan taken. And I still did not spend any money. I know there is documentation on upon this. But it will be better for me to understand if you give me a quick view by answering me these question.
Please give me your good advice as early as possible. I am eagarly waiting for your suggestion.
Thanks & Regards
SubirSubir-There is no imprisonment kind of penalty on you. But it is best to refund it mentioning that marriage was cancelled. Once the marriage re-scheduled then you can raise the loan once again. Why to keep it at your end pay interest on it?
Hi,
According to your pf calculation, rate of interest is calculated every month, but will be added to the sum by the end of financial year. But according to this website http://www.bemoneyaware.com/blog/calculators-quiz/epf-calculator-methodi rate of interest is calculated on the total amount by end of year.
I am totally confused on to which one to follow.
Could you please make me understand?Manoj-If you confused between two versions then check the same in EPFO and you will come to know the reality 🙂
Sir,
I have an pf account from last 7 years and I have changed job in august month till now I have not withdrawn PF Amount I will get interest on what ever balance is available in my account or not
If I will get interest on my balance when I will get it
Or better I can withdraw the amount immediately
Regards
VishalVishal-You get it until 3 years from last contribution. Afterward they will not give any interest to you. Better to transfer it to your existing account.
Sir,
the amount that is deducted from my salary for PF is not the same as the amount that is getting deposited in my PF account. I spoke with the competent authorities also regarding the same but i have not got any revert from them. please suggest me how to proceed further regarding the same.Ritesh-Your first contact should be to your employer. If they not respond properly then go ahead with EPFO.
Dear sir,
My name Midhun TS and i worked 4 month in SHRI RAM Infomedia Ltd Delhi, I submitted the PF forms in the month of june 2014 at my company, till now i not got PF. i checked my company they said that ur form was rejected, Please kindly Help me…
My PF a/c Number: DL/38854/3254
i attached my pay silp with refrence,Regards,
Midhun TS
+919741084575
[emailprotected]Midhun-How can I come to know the reasons by few lines of your sharing. Why can’t you ask the reason with your employer or with EPFO?
Hi Sir,
I had made a request to transfer my PF account via online around 2 months backup and last week I got a message saying that it has been successfully transferred.
I thought my pension account will also get transferred, but seems like it has not happened. When I checked the passbook via online, I could see only the PF account balance of my old company and it doesn’t contain any pension fund.
Is the pension fund also got transferred ? If so why it is not showing in the passbook ? If not what should I do for the transfer of pension fund?
Tom-Pension fund also get transferred. Also I don’t think your passbook updated as of today. Check once again.
I have request for old EPF account balance transfer to my current EPF account.
Status of request is : “Your request is In Transit between EPFO Out and In Office.”
I want to know within how many days/month it will be transferred?Also. I am not able to see old EPF balance as it is INACTIVE Account.
as I had left the job 7 years back.
How can I see the balance of OLD EPF account?
Dear Sir, I am working as computer operator as on the date 01-04-2014 to till today. My consulted salary is Basic + VDA Rs. 7229/- How much Rs cut of my salary for PF & ESI
How much Amount Employee share & and Employer share contribution Please give the details
Thanking you sir
Umesh-Why can’t you try to calculate yourself by using above info?
I would like to know if I should withdraw my pf or wait for few months or years to do so. (Is there any intrest accumulated )As I am not going to continue work. I joined on feb-2014 & quit on November -2014.
Anjoom-Better to withdraw.
Sir, My Basic+DA is 12377 for full present (26 Days) in a month , If i take leave or absent for 4 days with a present days (22 days) in a month . I Got my salary with 4 days deduction (10692/-) in hand . My question is the employee contribution of 12% is deductated from which salary a.) my (12337/-) salary or b.) from My 4days cutted salary (10962/-)
Thankyou in advance
Rajesh-It is based on that month’s Basic+DA.
Hi Thank you for the post.. It’s the best illustration I found on google for EPF interest calculation. But, could you please explain what happens to the rest of the Employer’s contribution(everything other than 3.67%)? Will that stay in our EPF account and will not earn any interest ? While withdrawing EPF can we withdraw that amount as well?
Thank you,
Saleem.Saleem-I hope my post “Employee Provident Fund (EPF)-Changed rules from 1st Sept 2014” on your doubt will clarify you.
Hi Basavaraj,
Thank you for the reply.
So as per your post EPS contribution will be used for pension (to spouse/children) in case of sudden demise of the employee. What if the employee is still alive while withdrawing his EPF, will he get the EPS and other portions of his/her employer contribution as well ?
Regards,
Saleem.Saleem-There are separate rules regarding EPS withdrawal. Check EPFO site, you will find info.
I quit my old company on Apr 2013 and joined new company there I opened new PF account. After one year(June 2014) I merged the old PF account to new one . Will I get the interest on the amount available with my old account for the period between Apr 2013 to June 2014?
Prabhakaran-According to EPF rule, inoperative account of more than 3 years will not earn any interest. So in your case it is just one year. Hence you will get interest.
Thanks for your clarification Basavaraj.
1) —- I had this structure:
Basic Salary = 14800
EPF = 780
House Rent Allowance = 7400
Transport Allowance = 800
Conveyance Allowance = Nil
Special Allowance = Nil
Medical Allowance = 12502) —- For the same month they change the structure and made it :
Basic Salary = 8500
EPF = 1020
House Rent Allowance = 4250
Transport Allowance = 800
Conveyance Allowance = 0
Special Allowance = 8200
Medical Allowance = 1250They said the second 2) will have more advantage… how much is it true?
Himanshu-They did such changes to reduce their contribution towards EPF. So it will benefit to them than to you.
Hi I have doubt still in of deduction policy.
My basic is. 7557
Hra. 3779
Statutory bonus 292
CA. 800
Fbp/other allows. 6091
Total gross. 18519Total deduction.
PT. 200
Medical 150
Total. 350Net. Is. 18169
Pf I’d mandatory for this case
Madhu-Very much mandatory 🙂
Dear Sir,
I had worked nearly 10 years in the previous company. I got the certficate from PF department towards family pension fund. Currently I have been working in a company for 10 years. But i did not add the previous certficate to current one while giving declaration.
Now what i have to do for that.Chandra-Contact your current employer.
sir i complete three session in a college i applied for pf .i have same account in tree yrs but i receive very less money in my account. please tell me about this problem
Rupinder-Less amount means?
Hi Sir I have been work one company from 15 dec 2012 31/05/2014 (17.5 month ) my deducted amt was 1020 so how much i will get?
BS-You can calculate as per above method by considering the applicable interest rates for each year.
Hello,
Could you please tell if the declared interest rates are applicable from Feb to Mar or Mar to Apr?EPF_Query-I already specified it above.
I understand it would be from Mar to Feb?
I have one more query, say I get my PF amount transferred from Company’s Trust to RPFC during employment with the same company, does the e-passbook (epf india site) give the earlier entries as well? (Not the individual entries but the opening balance as carried forward from the Trust whenever the transfer has taken place)
This has happened in my case and I’m unable to tally the EPF balance/ interest calculations by the logic shared by you.
EPF_Query-I am not sure about this. But in my view they will not.
No problem. Thank you for the article though. It was quite useful.
Can we file RTI asking for the transaction breakup on our active PF account?
Arun-Try your luck 🙂
In your example, in July you are giving interest on contribution of June (1019). In Aug you are giving interest for contributions of June and July (1019 + 1019=2038). But is it not the case that when you calculate in Aug, June contributions will get interest for two months and July contribution will get interest for one month. Similarly, when you calculate interest in September, June will get interest for 3 months, July two months and September 1 month. As per this calculation the interest the amount works out to Rs.455/- against your figure of Rs.260/-. Calculation as suggested by me actually matches with the calculation of interest for my own pf account with the EPF Office.
Iyer-I followed the same of what you said. Please check at your end once again. If find any difference in calculation do share with me. This makes clear who went wrong.
I also think what Iyer is saying is correct, viz., in the table in the article, it looks like interest due on amounts that have been held for greater than 1 month is being calculated only for 1 month. For example, the interest payable on June portion of balance in October should be calculated for 4 months (since it was held from June to Oct), not just for 1 month as the articel seems to be doing. Please clarify
Abida-But this what actually EPFO follows. Still I cross check from my end update if I am wrong.
How can i get interest details in my epf account
Dinesh-You can create login to EPFO member portal and download the passbook.
i download the file but interest detail is not there in file. what i do
Dinesh-Which file you downloaded?
What is employee pension scheme……….8.33%….is it refund to our epf account balance after retired or leaving job…..???
Trunal-If service is less than 10 years then you can withdraw it. If your total service is more than 10 years then you can’t withdraw it. This will be converted to pension once you leave job.
Sir,
Now i have EE Amt. 9841 & ER Amt. 3016.
I had left the job 4 month before
If i withdraw it now how much my account will credited?
I served for 13 months.Pravat-Unable to answer without knowing the details. Why can’t you contact regional EPFO for the same?
i have a question, My uncle is retiring from his job, does he has the option to withdraw the PF fund at a later stage, if yes then during that time at what rate the company will pay interest on the fund?
and if he takes out the fund and put it in fd and his tax bracket is 30 percent then will he be able to earn more interest in this case or its better to keep it with company as he has no requirement for the money at present.
keeping the money with company will have any tax liabilities?Reet-Later state of withdrawal means after how many years? Regarding taxation EPF please refer my earlier post “Taxation of Employee Provident Fund (EPF)“.
I had shifted to my new employer in Jan 2012. My PF account has been transferred in December 2013. After the transfer the interest rate for FY2014 has been declared as 8.75%. It seems that during transfer an interest of 8.5% had been paid. How to recover remaining 0.25% interest on my amount.
Sona-I don’t think such discrepancies happened. Please check what rate they assumed to arrive at final balance amount.
Yes it is like that only. If you go through the date of circular for notifying interest rate for 2013-14, it 6 March 2014. My amount has been transferred in Dec 2013 and hence 8.5% interest rate was credited.
Sona-If applicable interest rate for that particular FY is calculated then what is the problem?
The applicable interest rate is 8.75%. But, as the notification of applicable interest rate has come late, after transfer of fund was effected, interest had been calculated as 8.5% only.
Sona-Oh k…then you have right to raise this issue. But I don’t think they respond to it. Because it is GOVT organization whose skin used to be bit thicker than normal organizations. Try your luck 🙂
sir i was join in mphasis on april 2012 and resign the job on November 2013. and then i applied for pf. so i have a question for you that i only receive the employee contribution + employer contribution+ interest or the adding the pension fund amount too..
Tanaya-You only receive your contribution+Employer Contribution+Interest on both (but not from EPS).
WHY I DONT RECEIVE THE EPS MONY..? I ALREADY RESIGN THE JOB.
Tanaya-EPS will not be available until you complete 10 years of service. That too they will pay as pension but not lump sum. So you are unable to get it.
Sir,
Emloyee Contribution 12% + 3.67% +Interest PPF = Empolyee Total PPF Balance,
But Emloyeer’s Contribution of 8.33% is Emolyees Income or not, & What Calculation , to be add with same interest on PPF
Joyesh-Calculation goes like this Total Employee Contribution (12%)+Employer Contribution (3.67%)+Accrued Interest on both=Total Balance. So where is 8.33% of EPS will come in picture here?
Sir,
I working in BSNL Gwalior, I want to withdraw my EPF . Total EPF (Employee+Employer) = Apx. 5 Lacs. How much i can withdraw money for repayment of Personal loan from Canara bank. My total job appx. four year in Gwalior BSNL.
kindly give me detail of this, Sir.Santosh-You can’t withdraw EPF amount for paying persona loan. Please read my earlier post on the same “All about EPF (Employee Provident Fund) advance withdrawal”.
Hello sir,
I was working for IBM daksh .I have worked for 12 months and i received only 13000 as PF amount whereas employer contribution is same as of employee so according to that it should have been higher,
My contribution was Rs 900,
please tell me what can be done?Rakesh-Please read above post where I have written how employer contribution will split and how much % only available for EPF at end.
my pf contribution was 1000 RS for 27 month (company cut 1000 as pf)
my salary was 20000 RS
now this is the 12 month i dint withdrawed my pf
how much i will get if I withdraw nowShinu-Your question too wild and calculating is cumbersome. Because you have not mentioned start and end date. Also EPF interest changes every year. Hence I suggest you to look at online statement.
Hi,
I want to increase my PF contribution , currently my PF contribution is 12 % of basic salary, last week i came across PPF which is also a provident fund scheme. Which is the smarter way of contribution whether by increasing PF % or opening a PPF account, and also which one yields higher interest.Please help me here.
Regards,
Mani.Manivannan-Both have it’s own advantages and disadvantages. EPF have bit higher liquidity, but lesser tax effeciency (in case of early withdrawal). On return part both seems to be almost matching. But if your employer ready to contribute equal of amount of your voluntary contribution then EPF an edge over PPF.
Hello sir,
I have a doubt i worked with this organization for 13 months and my pf Contribution has been 840 Rs per month.
i have resigned and have applied for PF withdrawal after two months of wait i only received 15000. Can you please help me with the amount Total. Is this right?
One of my friend tells me that we usually get 2 checks one with interest and another with the amount.
Is this true.Thank you for your time 🙂
Keerthi-How many days back you received the first cheque? Have tried to calculate based on above formula?
Hello Sir,
I received the check last week dated 7th july. I have tried to calculate and the amount is way too much than the one i received.
Keerthi-You mean to say that the amount you received is too less?? According to you how much you need to receive? Also yes what your friend told is correct as you receive in two installments.
Sir i mean less deducting the interest. Is there any time detection as to how many days apart the two checks come by. Iam leaving for the states to pursue my masters and i need to close the account to which the amount will be delivered.
Keerthi-Sadly there is no such hard rule to dispatch the amount. So wait for a week or so and then inquire with EPFO.
recently i received my pf amount of Rs.33283/- .but i couldn’t identify whether it includes both EPF and EPS amount or EPF alone. Please Clarify…..
Saranya-It consists your contribution to EPF+Employer contribution to EPF and accrued interest on both but not EPS.
Iam getting Rs.14.500 per month (Chennai) I like to know how much pf and esi will be deducted from my salary and wht will be my share and my employer share. plz explain me in brief. I joined in August 2012 but they started deducting pf from 2013 November only. Wht is pension fund. Will i get this pension fund when i withdraw my pf amount.
Hameed-It will be available in your salary slip. How can I say your gross salary of Rs.14,500 involve what components?
Krishna-As of now I don’t have any idea about checking the same. But yes if you carry forward then EPS will also follow.
Hi, I have a question, I need to choose between withdrawing my Epf which is yielding me an interest of 8.5% compounding annually. If I repay my land loan where I am paying 10.5% interest based on a reducing balance. Please let me know if it is wise to continue with my Epf account or pay off the land loan?
Shiva Prasad-The difference is around 2% of interest. But how about tax benefits you are getting from home loan? Please do share your tax details to let you know correctly.
Hi Basu,
I have gone through the above Article; got to know a very important facts about EFP interest calculation.
But still I could not ascertained whether the EPF interest paid to me was correct or not.Here is what my EPF statement says:
Transaction date: 01/10/2013
Updated on: 30/10/2013
Deposit Amount: Rs 896461
(Also written as INTEREST TO BE CREDITED
FROM 092013 TO 102013 )(On 1/10/2013 , my new pf was credited that was transferred from my previous employer to the current one).
Could you please have a look at my PF statement above and let me know final interest
to be credited on the deposited amount as on 1/4/2014?Thanks for your time 🙂
-Raj.
Raj-How can I do calculation without knowing contributory part? Please do it at yourself as it is not a big task if you once come to know the interest rate for that particular year and contribution from you and your employer.
Hi Basavaraj, Firstly, thanks very much for the detailed article. I applied for transfer of funds from EPF & EPS accounts of my old company to the accounts of my current company. Both the accounts are with the same EPF office, bangalore. From the portal, I checked that transfer is completed. But in the new account statement, I see credits only to the EPF account. There’s no separate credit to EPS. Should not the EPS amount also be transferred? Or is it clubbed with EPF amount and a single transfer is done to the new account? Can you please clarify?
1) I want to transfer my PF from my previous employer fromDelhi RPFC to my current RPFC in Gurgaon, This transfer will happen around 1st week of June. Pls explain how will I get the April and May Interest ? From old RPFC ? or New RPFC ? Or what is the procedure.
2) My PF transfer is now 30 month old so will I get the Interest in my new PF account for the said amount too ? or it will be only for next 6 months ? Pls confirm.Regards,
Inder SinghDear Sir,
The calculation of interest for EPF is clearly explained. I have got an exact info from your explanation. Thank you so much for making it very clear.
I am in need of your help in throwing some light on the below topic;Do we have interest for EPS as well? if so what is the percentage and how to calculate the same.
I am asking this from the HR personal perspective in order to explain and tell the employees the approx amount they will get(While closing PF) i.e., accumulation of EPF(12+3.67),EPS(8.33) and interest for the same. (I am clear on accumulation of EPF & Its Interest)
Sarathy-Unlike EPF, EPS will not earn any interest but will be calculated based on your service and your salary.
Thank you so much sir…!
Hi, I have downloaded the e passbook from epf online site which was last updated on 2 august 2013 and I had left the company on 9 July 2013. However, the interest is not reflecting for the year 2012-13. How do I check if the interest is actually credited to my pf account.
Further I wanted to know the meaning of the particulars shown in e-passbook e.g., contribution for the month 4 2012. Does that mean it is contribution for April 2012 or March 2012? I am asking this because in e passbook when I see the contribution for continuous 12 months, the amount of contribution is changing in May every year i.e. april entry is equal to previous month and may entry shows the revised amount as per latest salary.
Also, the last entry in e-passbook is cont for 6 2013, if my above logic is correct, then this entry is for May 2013 and not June 2013. Accordingly, the amount for June 2013 and 9 days of July 2013 is not appearing in the passbook. How can I see the latest e passbook with all the cont and interest updated? Thanks!
Dipesh-As I mentioned above year for contribution will be from March to Feb but interest will be credited in the month of April. So you need to check anywhere after April 2014. So why can’t you check now and let us share the status to discuss further.
Hi, The e passbook that I have just downloaded was last modified on 4th October 2013 and the data is as of 2nd August 2013 and there is no entry of interest in April 2013 and April 2014. Not sure how frequently they update the e passbook.
Dipesh-As I said above interest will be get updated in the month of April. So if that is not reflecting for both the years then contact your current employer or EPF office.
My employer deducted PF amount from my salary every month but some of the month they deposited in a different EPF account. I leave the job two years before and trying to withdraw my PF amount but it is showing very less amount. I have written a letter to my employer and they are telling that they will drive that amount to my PF account. Please advice whether it is possible and if yes then how long it should be taken.
Subhasish-Your employer is culprit in this case. Hence take up the matter with employer seriously also report the same with EPFO grievance cell.
Thanks a lot Basavaraj for your advice! I am not sure about what my employer said that they will derive my PF amount from the PF account where they had been credited. 2 months over I am following up with my employer. Please advice whether it is possible what they said that to derive amount from others PF account to my PF account.
Subhasish-They derive from another’s EPF account means they just claiming that they did mistake and they will rectify it by collecting the same from wrong account to your account. But is it possible for them is a BIG question. Because it almost passed two years and you and your employer don’t know that where that account holder is currently, whether he works in same organization or not, if he moved to other company then how come they will derive the amount from wrong account and will EPF will adjust the interest earned from wrong account to your’s account is a big question. This is nothing but tactic to prolong their wrong doings. Hence act stern and let them give the time period.
I Leave the job on June 2012. Now I am withdrawing my PF amount. Please let me know whether I will get the interest of my PF amount during the period of June 2012 to till the date of withdraw.
Subhasish-Yes you will receive interest till date as your account is inactive for less than 36 months. If once it crosses 36 months then from that period onward you will not get any interest. Also keeping idle for such long period without any contribution, closing it or transferring it risky as there are lot of cases of withdrawal from other from such inactive accounts.
I have served for 6 years as on today. My Basic Salary is Rs.35000/- Employer contribution is 12% (4200) Employee contribution is 12%(4200) Please let me know the maximum amount I can withdraw towards purchase of Flat. What documents need to be submitted along with form 31?
Vipul-For detailed understanding of EPF withdrawal, you may refer my post “All about EPF (Employee Provident Fund) advance withdrawal“.
Dear Sir ,
My basic pay was 4500 and the PF amount I contributed every month was Rs 780.
What will be my PF balance at the end of 34 months ( march 2011 to dec 2013).
Recently I got my Pf amount which was Rs 38773.
Is that amount Correct ???
Please help me out with this.Thanks in Advance.
Bharat-I can’t calculate such lengthy things and describe it here. But if you have doubt then just cross check whether the each month contribution from you were correctly deposited with EPFO or not. By doing so, you can easily get the confirmation of anything missing.
So I have one query in case of PF account transfer. Let me give you my details:
I changed my company in may 2013 and immediately joined another company. Few days back I gave the request for PF transfer. So my question is at the time of transfer whether actual PF amount(interest + contribution) is calculated or not? take an example suppose total contribution was 36000/- till may, will I get 36000 + interest (till feb) at the time of pf transfer into my new account or it is done on annual basis, how actual amount will be calculated?
Pulkit-As I said above, EPF calculation is on Average Monthly Balance method, you will be entitled to receive Rs.36,000+interest from June onward. In the monthly of July interest will be on June month end balance.
sir,
can i able to get any previous year calculation for dearnees allowance
Jegatheesan-May I know the reason behind this search, so that I can help you out exactly?
sir,
I need to know how what is dearness allowances and how it should be calculated .
please help me in thisJegatheesan-Dearness allowance is the part of your salary, which adjusts to the inflation rate to make you survive. How the DA is fixed? It depends on company policy. The usual method of consideration is by calculating the last 12 months average of Consumer Price Index to judge the current month DA rate.
SIR
CAN I GET THE METHOD OF CALCULATION EXAMPLEJegatheesan-There is no specific method to calculate it. But I think this post may help you.
i did not understand that which method are you using to calculating pf amount
Sanjay-It is mentioned above. Please read once again.
Sir, I worked for a company for four years from 1992 to 1995. I did not withdraw the pf amount. Its now 20 years. I had a salary of around Rs.2000.(Rs,Two thousand only)
Can you let me know how much amount should I get now?Praveen-I am not sure how much. But you can check online or by visiting the concerned EPFO.
Sir, my employer has decided that everyone in our company will contribute Rs. 780 towards their PF, irrespective of their basic + DA. All employees in our company is getting more than Rs. 6500. One of the lawyers mentioned it is not right and every employee should contribute 12%. However, from your post, looks like > Rs. 6500 means it is voluntary and employer can choose option 3. My question is.. I just want to confirm is 12% of Basic + DA mandatory or not
KV-12% of Basic+DA is mandatory. But if one is drawing salary of more than Rs.6,500 then options will change as I said above.
SIR,
SORRY FOR LATE REPLY.I AM ASKING FROM EMPLOYER POINT VIEW
Jegatheesan-I am not expert to that level.So I can’t say anything on this. Better to contact the local EPF office.
WHICH EPF FORM SHOULD BE ISSUED FOR EPF EXEMPTED EMPLOYEES (6500 CATEGORY)
Jegatheesan-Are you asking me from the point of employer or employee. If you are an employee then why you need to issue the form?
Hi Sir
i have completed working in a company 5 years who calculated total pf balance ( per month detected Amount Rs-900/-)
Shivakumar-What is your doubt?
Dear Sir,
I have a query in pf ammount received.
I download my e-passbook on 4th aug. and as per downloaded passbook the ammount shown and actual i received amount is not match.
I received 1000 rs less ammount then passbook shown amount.
so please guide me what i do more.
Diptesh Rao
Diptesh-I can’t help you in this matter. Better you can approach EPFO.
Dear Sir,
If my employer deduct EPF regularly from salary. But if it deposits to PF office 6-8 months late, then will it affect my interest amount on PF balance or PF office will collect it from employer and adds to my PF balance ?Manoj-It will not affect your interest part. But EPFO may take action against your employer for delayed deposit.
I am a pf(provident fund) employee retired on june 2016 on attaining the age of 60 and will receive 7th pay comission arier in november or december . So is it the duty of employer to deposit the deducted amount of arier which i got after retirement.
Kiran-Yes, it is employer’s responsibility.
Dear sir,
I m somling from Hubli.I m before 6 months worked in Chennai,present in Bangalore. I m struggled in PF withdraw process please kindly help me,I m submitted all original documents in my previous organization while joining if duty.My DOB is 04 April 1990 as per documents. But changed DOB found in epfo account changed DOB Is 04 April 1992 how its happened I don’t know upto know.that’s reason I m fight with my organization hr team through mail.but hr team don’t support me.these all are things no pblms they told.but now I’m applied PF form for withdraw purpose through my organization but up to know no changes in withdraw status.actually I m mentioned original DOB in applied form.before 1 week I discussed with PF office and organization.PF office told your application not came to our office but my company told we already send your form.after I fight with hr team they discuss with PF office,PF officer asking to our hr team tell me sending your form acknowledgement number but our hr team helpless.finally hr team suggested to me please resend PF form we will apply but my big question is what which DOB I mention in form now????Somaling-If you are currently in job, then you are not allowed to withdraw the EPF. For rectification of date of birth, you can raise complaint against employer in EPFO Grievance Cell Online.
