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10 hidden EPF Rules – Employee Provident Fund

by Manish Chauhan · 1,161 comments

We will discuss few EPF rules today. We all know what is EPF – Employee Provident Fund. A small part of your salary (12% of your basic salary) is invested in something called EPF and an equal amount is matched by your employer each month. This is what 95% people know about EPF. But there are many things in EPF which a lot of people don’t know and this article is going to open some not known secrets of EPF. One should be aware about all the EPF related information. So lets take them one by one in points format.

1: You can also nominate someone for your EPF

Do you know that there is also “nomination” facility in EPF. The nominee will be contacted at the time of death of the person and handed over the EPF money. However if nomination is not present (which you should check), it can raise to all sort of issues while claiming money. There is a form called Form 2 which has to be filled to change or update the nomination. Please contact your company finance department or directly send the form to EPFO. One very strange about EPF rules is that you can’t nominate your brother for EPF. Not sure why!

2: One can get pension under EPF

Do you know that there are two elements in EPF – one is called EPF and other is EPS (You can check your EPF balance using the new EPF e-passbook option) . The EPF is actually for your provided fund and EPS is for your pension. The 12% contribution from your side goes to EPF, but the 12% contribution which your employer makes, out of that 8.33% actually goes in EPS (subject to maximum of Rs 541) and the rest goes into EPF. So understand it this way, a part of your  employer contribution actually makes up your pension corpus. But there are some caveats to this.

  • One is liable for pension only if one has completed the age of 58.
  • One is liable for pension only if he has completed 10 yrs of service (in case of more than one companies, the EPF should have been transferred, not withdrawn)
  • The maximum Pension per month is subject to maximum of Rs 3,250 per month.
  • Lifelong pension is available to the member and upon his death members of the family are entitled for the pension.

EPS & EPS components
3: No interest is given on EPS (pension part)

You must be thinking that you regularly get compound interest each year on your contribution + employer contribution. But it does not work like that. The compound interest is provided only on EPF part. The EPS part (8.33% out of 12% contribution from your employer or Rs 541 what ever is minimum) does not get any interest. At the time of EPF withdrawal , you get both EPF and EPS.

4: You might not get 100% of your EPF money

Imagine your contribution + employer contribution has been total Rs 3,50,000 till date. Out of this 3,50,000 , suppose 2,50,000 has gone in EPF , and rest 1,00,000 has gone in EPS (for pension) . Now if you quit your job in 6th year of employment and opt for withdrawal of your EPF money (EPF + EPS actually) , then do you think you will get total 3,50,000 . NO !

Thats because you always get 100% of your EPF part, but for EPS there is separate rule . There is something called Table ‘D’ , under which its mentioned how much you get at the time of exit from your job, there is a slab for each completed year and you get n times of your last drawn salary (depending on the completed year of service) subject to maximum to Rs 6,500 per month. So if your salary in this case was Rs 30,000 per month, still you will be given only 6,500 * 6.40 = Rs 41,600.

Table D under EPS

Note that the table D is upto 9 yrs only, because if 10 yrs are crossed, then you are liable for pension.

5: You can invest more in EPF, its called VPF

You can always invest more than 12% of your basic salary in EPF which is called VPF. In this case the excess amount will be invested in EPF and you will keep on getting the interest, but the employer is not suppose to match your contribution. He will just invest upto maximum of 12% of your basic, not more than that.

6: Withdrawing of EPF amount at job change is illegal

Almost every one thinks that withdrawing of your EPF amount after a job switch is totally fine and allowed, however as per EPF Rules, it’s illegal. You can only withdraw your Employee provident fund money, only if you have no job at the time of withdrawing EPF and if 2 months have passed. Only transfer is allowed in case you get a new job and you switch to it. While there are no cases where EPF office tracks these things and takes up this matter, still just for your information you should know that if you got a new job and took it and then you are applying for withdrawal, its illegal as per law. However in case of EPS, if the service period is less than 10 years, you’ve option to either withdraw your corpus or get it transferred by obtaining a ‘Scheme Certificate’. Once, the service period crosses 10 years, the withdrawal option ceases. Just for your information, you can withdraw your EPF money without the help of past employer signature by attesting your withdrawal form by a bank manager or some gazzeted officer. I hope you are clear about EPF withdrawal rules.

7: One can opt out of EPF if he wants

Yes!I know this might be a surprising fact for many , but if one’s basic salary per month is more than Rs 6,500, he has an option to opt out of EPF and not be part of it. In which case he will get all his salary in hand (without anything deducted every month). But the sad part is that one has to opt out of EPF in the start of his job. If a person has been part of EPF even once in his life, then he cant opt out of it. So if you have already had EPF in your life. This option is not for you, but if you are new to job and your EPF account number still does not exist, you can tell your employer that you don’t want to be part of Employee provident fund . You will have to fill up form 11 for this.

8: Your EPF gives you some life insurance too

A lot of people might not know that in case a company is not providing group life insurance cover to its employees, in that case the employee is given a small life cover through EPF. This is because there is something called Employees’ Deposit Linked Insurance (EDLI) scheme and your organisation has to contribute 0.5% of your monthly basic pay, capped at Rs 6,500, as premium for your life cover. However companies which already have life insurance benefits to employees as part of the company, are exempted from this EDLI scheme. The bad part of this EDLI scheme is that the life cover under this option is very low and that’s maximum amount of Rs. 60,000. While this is peanuts for most of the people in big cities. For employees in small scale industries and small cities, this amount of Rs 60,000 will still count something.

9: You can use EPF money can be withdrawn at special occasions

So now you know that EPF withdrawal is not permitted if you are still working. But there are occasions when Employee provident fund withdrawal is allowed. While you cannot withdraw it fully, you can withdraw a partial amount. Following is a list of events when you can withdraw the EPF amount and the conditions you need to fulfill

1. Marriage or education of self, children or siblings

- You should have completed a minimum of seven years of service.
– The maximum amount you can draw is 50% of your contribution
– You can avail of it three times in your working life.
– You will have to submit the wedding invite or a certified copy of the fee payable.

2. Medical treatment for Self or family (spouse, children, dependent parents)

- For major surgical operations or for TB, leprosy, paralysis, cancer,  mental or heart ailments
– The maximum amount you can draw is 6 times your salar
– You must show proof of hospitalization for one month or more with leave certificate for that period from your employer.

3. Repay a housing loan for a house in the name of self, spouse or owned jointly

- You should have completed at least 10 years of service.
– You are eligible to withdraw an amount that is up to 36 times your wages.

4. Alterations/repairs to an existing home for house in the name of self, spouse or jointly

- You need a minimum service of five years (10 years for repairs) after the house was built/bought.
– You can draw up to 12 times the wages, only once.

5. Construction or purchase of house or flat/site or plot for self or spouse or joint ownership

- You should have completed at least five years of service.
– The maximum amount you can avail of is 36 times your wages. To buy a site or plot, the amount is 24 times your salary.
– Can be avail of it just once during the entire service.

10: You can file an RTI application for EPF issues

Did you know that you can file an RTI applicable to get any kind of information regarding your EPF. You can file it if you are facing issues like no clarity about balance in your EPF, no action taken for your EPF withdrawal or transfer. To find out information about other issues on EPF. I have done a detailed post on how to file an RTI for your EPF issue.

Conclusion on EPF rules

The overall Employee provident fund rules are too complicated and very old. A common man does not know all these EPF rules, but knowing these minimum 10 EPF rules will help him in his financial life.

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{ 1158 comments… read them below or add one }

1 Sathish May 14, 2012 at 10:14 am

Nice and informative. Particularly the loan for house/flat/plot purchase which I was not aware at all!

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2 NARAYANAN May 14, 2012 at 11:12 am

Dear Manish,

very nice article. True, very few no the rules of EPF. I have withdrawn twice after 9 years in two companies. I collected the money and used. Never thought of finding how much it is or as the govt given the full money etc.

Small clarification. You mention that EPS CAN BE WITHDRAWN ONLY AT AGE 58. does that mean that i can make a claim at age 58 ?

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3 Manish Chauhan May 14, 2012 at 6:04 pm

Narayanan

No , mostly you got your EPS also when you withdrew !

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4 NARAYANAN May 14, 2012 at 6:09 pm

Thanks Manish.

Keep up this good job.

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5 Manish Chauhan May 14, 2012 at 6:16 pm

Now you can take use of it !

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6 suman malik November 15, 2012 at 2:13 pm

Currently I am not working in any organisation . But I want to continue my contribution in my Last Company’s EPF account. can I continue, If yes. Please tell the procedure

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7 Manish Chauhan November 15, 2012 at 7:12 pm

No you cant , you can only invest in current company EPF !

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8 rocky December 23, 2012 at 10:20 am

Hi Manish,

Sincerely appreciate you for the article.

I work for a IT company and it has laid of 500 people including me. Now, until we find a new job it might take 1 month to 6 months. I do not want to withdraw the money in PF (which is locally maintained) but would like to transfer after getting a new job. But the current company is insisting that we should give a written-form in advance for withdrawl of the PF money. In case we do not get a job in two months or transfer to a new account the letter gets activated and they would send the cheque for the PF money. This they are doing to avoid paying the interest. The question I have are
1. Is there a rule that they must keep the money atleast for 3 years ?
2. Is there a possibility that I can keep the money with them (without getting interest)?
3. Is it possible to transfer the money from EPF to a PPF (which I already have)?

thanks again.
Rocky

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9 Manish Chauhan December 24, 2012 at 9:51 am

1. I am not sure about the private EPF which is maintained by company , so cant comment on that

2. This should be possible, because there are many people I hear have their EPF with their company

3. There is no relation between EPF and PPF .

Manish

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10 Ankur May 14, 2012 at 10:23 am

Manish – Thanks much for this post!!!! EPF and EPS clarification was very very helpful.

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11 Manish Chauhan May 14, 2012 at 6:15 pm

Thanks Ankur … what else did you learn from post !

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12 Arun May 14, 2012 at 10:31 am

Very useful information. Thanks a lot sir.

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13 Manish Chauhan May 14, 2012 at 6:14 pm

Thanks Arun !

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14 Ronak May 14, 2012 at 10:36 am

Nice read, Manish. Very informative. Keep up the good work.

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15 Manish Chauhan May 14, 2012 at 6:13 pm

Thanks Ronak !

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16 Rachit May 14, 2012 at 10:41 am

A very good and informative article. Keep posting more.. PPF, Health insurance, Stocks, MF etc….

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17 Manish Chauhan May 14, 2012 at 6:12 pm

SUre

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18 Siva Mohan May 14, 2012 at 10:43 am

Hi Manish,

Thanks for a very informative article. I have a query.

I have not transferred or withdrawn EPF from my first employer where I worked for 2 years until 2009. I didn’t bother withdrawing as I am not in need of EPF money.

What should I do now.. transfer it to my current employers EPF account or withdraw it?

Thanks,
Siva Mohan

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19 Kranti Goyal May 14, 2012 at 10:57 am

Hi,

As per current rule, In EPF if money is not deposited for continuous 3 years then account status changes to be dormant and no interest will be pay in future.

Manish you can also add this to article.

Thanks and Regard
Kranti Goyal

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20 Manish Chauhan May 14, 2012 at 6:08 pm

Thats a good point , but I think a lot of people might know this

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21 Manish Chauhan May 14, 2012 at 6:12 pm

Siva

You need to fill up form 13 and apply for transfer , after 6 months of doing so if you dont see any progress , then file RTI and get more info on that http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

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22 Siva Mohan May 15, 2012 at 10:30 am

Thank you very much for the reply Kranti & Manish.

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23 Santosh Prasad May 15, 2012 at 12:47 pm

Manish,
One should not wait till 6 months after submitting form-13. EPF offices are computerized now and they are supposed to get it done within 30 days(ideally). Hence after 30 days, one can file an RTI application to know about the status of transfer request.

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24 Krishna May 14, 2012 at 10:49 am

Hi Manish,
It was an eye opener when it comes to using your EPF for house/plot purchase. Should I repay it in case of partial withdrawl for marriage / purchase of plot/flat. And if yes is there any interest associated with it

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25 Manish Chauhan May 14, 2012 at 6:11 pm

Krishna

Its not a loan , its a partial withdrawal , so no point of interst !

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26 Sharat Trehan May 14, 2012 at 10:51 am

At the end you have written that you have done a detailed post on how to file an RTI on EPF issues. Can you possibly mail that link? Regards, Sharat

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27 Vishnu Agarwal May 14, 2012 at 12:06 pm

Hi Sharat,
Please go thru the following links posted earlier:

http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html
http://www.jagoinvestor.com/forum/how-to-apply-for-rti/1957/

Please follow up the blog by signing up thru email at top left box in the page for the future blog updates.

Regards,
Vishnu Agarwal

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28 Sharat Trehan May 14, 2012 at 1:26 pm

Dear Vishnu,

Thanks for the prompt reply and the useful links.

Regards

Sharat

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29 Kapil May 14, 2012 at 12:32 pm

There you go – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

Manish – you may want to add the link to the article

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30 Manish Chauhan May 14, 2012 at 5:33 pm

Done Kapil !

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31 Manish Chauhan May 14, 2012 at 6:11 pm
32 Dhanesh Chakraborty May 14, 2012 at 10:51 am

I worked in a private company for 10 years.. but not got any penson even not received full PF..can I have any suggestion for recoverning for pending pf
Regards
DhaneshChakraborty
941126067

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33 Anurag May 14, 2012 at 1:39 pm

Hi,
Pension starts after 58 yrs age of applicant not immediately. You need to interact with EPF commissioner office to get the details and reply when you reach 58 yrs of age.
Rgds,

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34 Manish Chauhan May 14, 2012 at 5:21 pm

Actually it can start after 52 yrs also subject to some resitriction and condition

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35 Manish Chauhan May 14, 2012 at 6:10 pm

You need to be above 58 age , to get get pension , If you have applied for withdrawal , then you must have got the EPS money too .. use RTI to know more about it http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

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36 Rachit May 14, 2012 at 10:52 am

A few queries:

1. As EPS is 8.33% then let say that amount for an individual crosses Rs 541 then where the rest of the money will go.
e.g. EE Contribution: 2000 Rs /month ER contribution: 2000 Rs/ Month Now 2/3 of 2000 Rs of ER will go for Pension which is almost like 1334 Rs but as maximum limit is 541 Rs / Month then 1334-541 = 793 Rs, where wil it go?

2. Will the compounding interest be given in baove example on: 2000 + 666 = 2666 rs OR on: 2000 + 666 + 793 = 3459 Rs

Thanks

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37 Vishnu Agarwal May 14, 2012 at 12:11 pm

In my case only 541 is deposited for EPS. Rest of Employer contribution & EPF I can see in my account, and elegible to withdraw as per the conditions.

So the extra money goes into EPF account only.

Regards,
Vishnu Agarwal

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38 Paddu May 14, 2012 at 1:32 pm

2000-541 – EDLI if applicable = 1459 – EDLI if applicable, will go to EPF.

[I noticed the discrepancy between Employee/er’s contributions in my EPF account statement (that I always get 2 years(!) after the end of the financial year), researched epfindia.nic.in & found about EPS & EDIL and I’m answering based on my EPF statement & that website.]

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39 Manish Chauhan May 14, 2012 at 6:10 pm

Rachit

If EPS thing crosses 541 , then rest will go in EPF only , EPF earns interst , EPS does not !

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40 Poonam May 14, 2012 at 11:06 am

Very useful information. Thanks.

Regards,
Poonam.

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41 Manish Chauhan May 14, 2012 at 6:07 pm

Thanks Poonam

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42 Srini November 4, 2012 at 12:43 am

Dear Manish – I have total 14 years of IT experiance. I have been working with current employer about 8.4 years. I have housing loan of 15Lacs. Can I withdraw my PF completely to pay housing loan. This PF acct opened 8.4 years ago. I have closed my old employer PF acct as it is not govt one, its a trust.

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43 Manish Chauhan November 6, 2012 at 4:31 pm

I dont think you can completely withdraw it , look at the article end once again on the limit .

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44 Pro Money Investor May 14, 2012 at 11:07 am

In many private organizations,the owners prefer collecting even their contribution from the staff salary and it is obvious that the employees can not raise their voice so that their job itself will be at stake.

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45 Manish Chauhan May 14, 2012 at 6:07 pm

Pro

Thats part of CTC .. Nothing wrong in it . They can always tell you CTC less and then add their contribution , rather they tell you in CTC . Whats wrong in that ?

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46 Santosh Prasad May 15, 2012 at 12:53 pm

Employer contribution of 12% of basic salary is part of en employee’s CTC. Because, whatever employer is contributing, gets deposited in employee’s name and he/she is complete owner of this amount.

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47 Amol May 14, 2012 at 11:10 am

Dear Manish,

Very Informative artcile about EPF and EPS. I have been working from last five years and was not aware of this one. Thanks!
as You said withdrawing EPF is illegal and we should map existing EPF with New Company, I found that we need to take a lot of followup doing those things. I heard from one of my friend that his earlier company did not cooperated in doing so and he has to travel many time for that. same about EPF office. Do we have facility to transfer EPF account online?

FYI. In your Diagram you have repeated Employees Contibution instead of Employers. may be a typo:-)

Regards,
Amol

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48 Paddu May 14, 2012 at 2:30 pm

What I hear is that if your earlier company’s EPF is managed by private trustees it should be easy to transfer (they might even have online transfer?).

But if it is managed by the EPF organisation (http://epfindia.nic.in), you know how difficult it is to get work done in govt. offices! As other people have said, file an RTI to get the transfer done!

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49 Manish Chauhan May 14, 2012 at 5:19 pm

Might be . I am not sure if private trustees are more efficient !

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50 Manish Chauhan May 14, 2012 at 6:06 pm

Amol

Withdrawing is illegal if you are still employed , if you are really not having any job , you can withdraw it . Employer;s will just fill up your form and start the process , after that they are not suppose to and will not follow up , its not their work and not their responsibility , they are right in saying so , its between you and govt now .

File RTI , it works in all situation : http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

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51 sri May 14, 2012 at 11:13 am

manish,

i think there are different PF schemes…am not clear about of pension and provident fund linkage…can you elaborate more mentioning the source of info please. EPS is different scheme but for PF employes has to contribute basic 8.33% and it has to be be clubbed with employees contribution.

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52 Manish Chauhan May 14, 2012 at 6:03 pm

Sri

What are you confused about . EPS is an internal thing in EPF , you can see the graph which i made and posted above

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53 Pranav May 14, 2012 at 11:14 am

Thanks for sharing…..

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54 Kshitij May 14, 2012 at 11:23 am

I have a query (not able to post in the forum):

I was working from Feb 2004 to Jan 2008 in Satyam, Hyderabad. I want to withdraw my PF (as I have been advised that transfer will take ages). They have given me a affidavit as it is 3+ years since I have left that job.

So will my withdrawal be taxable (considering that if you withdraw before completing 5 years you get 30% taxed)?

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55 Paddu May 14, 2012 at 1:42 pm

First withdrawing while having a job is illegal. Now, if you have no job and withdraw the amount before 5 years elaborate calculation is to be carried out according to the IT Act Fourth Schedule (http://law.incometaxindia.gov.in/DIT/HtmlFileProcess.aspx?FooterPath=D:\WebSites\DITTaxmann\Act2010\DirectTaxLaws\ITACT\HTMLFiles\2011&DFile=schedule4.htm) Rule 9:
(i) for each of the previous years including the year of withdrawal tax benefit due to EPF has to be removed & tax recalculated,
(ii) the difference between the recalculated tax and tax actually paid in all these years will be the tax on withdrawal.

As per Rule 10 the tax has to be deducted at source before giving you the money, but I heard that usually they only deduct 10% of the tax!

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56 Paddu May 14, 2012 at 1:42 pm

Oops! Please read “10% of the tax” as “10% of the withdrawal amount as tax”.

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57 Manish Chauhan May 14, 2012 at 5:21 pm

Thats really a good idea .. will you be able to give an example using some figures !

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58 Paddu June 14, 2012 at 10:03 pm

I have only read those portions of the Income Tax Act. I am not even sure what all are to be included as “tax benefit due to EPF” since there is an employer’s contribution as well, etc. so can’t give an example with figures. :-(

Hope some or the other CA knows how this calculation is supposed to be done!

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59 Manish Chauhan May 14, 2012 at 6:02 pm

Yes .. you will be taxed and its not 30% , its actually added to your income and then taxed as per your slab

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60 Kshitij May 15, 2012 at 10:16 pm

Thanks Paddu and Manish,

Currently I do not have a job. So I guess I’d better make that affidavit and fill across.

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61 Umesh Dwivedi May 14, 2012 at 11:24 am

hello ;

I did a job in a Pvt company for two years, and i have left the job from last six months.Till i dont get a job , is it possible to withdraw my EPF.What is the procedure,
plz tell me.

Thanks.

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62 Manish Chauhan May 14, 2012 at 6:01 pm

Yes . its possible ,you just need to follow this http://www.jagoinvestor.com/forum/procedure-to-withdraw-epf/1011/

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63 jake May 14, 2012 at 11:24 am

Nice Article Manish, this is really informative. I would like to ask one question here. I have my previous PF account which is dormant now. How do I transfer the money from that dormant account to my present PF account?

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64 Manish Chauhan May 14, 2012 at 5:53 pm

Jake

You need to follow the procedure for transfer of EPF – Fill form 13 http://www.thinkplaninvest.com/2009/02/epf-pf-transfer-and-form-13/

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65 Ganesh Balasundaram May 14, 2012 at 11:25 am

The bottom portion in the embedded figure should indicate Employe’r’.

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66 Manish Chauhan May 14, 2012 at 5:52 pm

Changed !

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67 Sylvestor May 14, 2012 at 11:29 am

Nice Article.
More clarity is needed how pension is calculated after 58 yrs of age.

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68 PATHY May 14, 2012 at 11:52 am

Hi MANISH GOOD INFORMATION CLARITY ON PENSION CALCULATION AFTER 58 YRS

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69 Manish Chauhan May 14, 2012 at 5:47 pm

Pathy

Please post your questions in simple words !

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70 Manish Chauhan May 14, 2012 at 5:51 pm

Sylvestor

Here is the reference

Under Employees’ Pension Scheme, the monthly retiring pension is decided on the basis of ‘Pensionable Service’ and ‘Pensionable Salary’ and is worked out as follows

Monthly pension=( Pensionable salary*Pensionable service)/70

Pensionable Salary is arrived at by considering the average contributing salary immediately preceding 12 months from the date of exit from the scheme, normally this would be limited to Rs 6,500 p.m. unless certain enhanced contributions are made by the employer with permission. Pensionable Service is the service in years rendered by the member for which contributions have been received maximum cannot exceed 35 years

Reference : http://www.bemoneyaware.com/blog/epf/

You can also see this article : http://www.citehr.com/74122-pension-calculator-under-epf-scheme.html

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71 Shrenik May 14, 2012 at 11:43 am

Hi Manish,

Once again very informative and useful article from your side.

Here it is mentioned that ” One is liable for pension only if he has completed 10 yrs of service (in case of more than one companies, the EPF should have been transferred, not withdrawn)
•The maximum Pension per month is subject to maximum of Rs 3,250 per month.”

I have completed 09 years of service in one company. can you pls also elaborate on what basis amount of pension is being decided and after a year (when I complete 10 years) is it worth for me to apply for pension or I can do that any time after completing 10 years ? Which one will give more advantage?

Once again thanks for nice and article.

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72 Manish Chauhan May 14, 2012 at 5:50 pm

You also need to complete 58 yrs of age ! .. So if you have completed 10 yrs of service , but not of 58 yrs ,still you need to wait for pension

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73 Shrenik May 16, 2012 at 4:40 pm

Thnx Manish…

can you pls also elaborate on what basis amount of pension is being decided.

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74 Manish Chauhan May 16, 2012 at 8:27 pm

Under Employees’ Pension Scheme, the monthly retiring pension is decided on the basis of ‘Pensionable Service’ and ‘Pensionable Salary’ and is worked out as follows

Monthly pension=( Pensionable salary*Pensionable service)/70

Pensionable Salary is arrived at by considering the average contributing salary immediately preceding 12 months from the date of exit from the scheme, normally this would be limited to Rs 6,500 p.m. unless certain enhanced contributions are made by the employer with permission. Pensionable Service is the service in years rendered by the member for which contributions have been received maximum cannot exceed 35 years

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75 Shrenik May 17, 2012 at 3:30 pm

Thnx Manish….it is really useful.

May I request you to cover other useful topics like ” Gratuity” for ours better understanding.

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76 Manish Chauhan May 18, 2012 at 9:21 am

Will do that soon

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77 SHYAM May 14, 2012 at 11:44 am

Dear Manish,

Very -2 usefull information.

I have a query that my basic salary is 6500.00 and my total contribution is for 20 year How much pension amount i will get on retirement.

Thanks

Shyam

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78 Manish Chauhan May 14, 2012 at 5:49 pm

Shaym

There can be changes in between .. You can search more on the formula on EPF pension calcualtion

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79 Deep Vineet May 14, 2012 at 11:46 am

Nice Article Manish, will it be possible for you to add the information about the calculation of interest part, also a calculator in excel would be of great help.

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80 Manish Chauhan May 14, 2012 at 5:48 pm

Calculation of Interest ?

Its a normal way of yearly compound interest . With 8.5% , 100 becomre 108.5 at the end of year .. and then again 8.5% of 108.5 is added back … so on

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81 Anurag May 14, 2012 at 11:52 am

Hi Manish,

What is the procedure to be followed for transfer of EPF Account when switching jobs. I just received a statement from my Company regarding my EPF Balance but isn’t there any way so that I can check it myself online like some account number.

Thanks

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82 Manish Chauhan May 14, 2012 at 5:46 pm
83 Vishnu Agarwal May 14, 2012 at 11:53 am

Hi Manish,
Again you surprised us with such a detailed information.

Further, I’ve few questions, if you can help:
1. I’ve worked in 3 years in one company, and transfer to other, where further worked completing total 6 years. As funds are transferred from Delhi to Bangalore, PF account number is also changed. Than, what is the life of PF (Table D)?

2. If I want to decrease the PF contribution from 12% to say 2%, is it possible? If it is, Is it dependent on company?

3. How to check the total EPS accumulate as I transferred my PF from previous employee to current, and raising query to epfindia is only giving me EPF & Emp contribution and telling me if EPS got transferred or not?

Thanks,
Vishnu Agarwal

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84 Paddu May 14, 2012 at 2:46 pm

2. PF contribution has to be 12% of PF basic, period. However the PF basic can be declared to be anything between Rs. 6,500 p.m. and your actual basic, in case your basic exceeds Rs. 6,500 p.m. Thus minimum PF is 12% of Rs. 6,500 p.m. = Rs. 780 p.m.

Now, my company was allowing this option until it got acquired and now the parent company doesn’t give the option of declaring a lower basic to EPF, so I’m sure this is dependent on company.

3. Yeah, EPF account statement is totally silent on EPS. There seems to be no easy way of knowing the EPS balance. Pro’ly need to file an RTI?

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85 Manish Chauhan May 14, 2012 at 5:17 pm

Paddu

Yes .. It actually depends on the company that they want to take 6500 or your actual basic . But most of the companies take the actual numbers .

To get your EPS balance , follow this article : http://www.jagoinvestor.com/2012/02/epf-balance-status-online.html . You might get the SMS and it will contact two numbers , the lower one is mostly your EPS . Else RTI is the sure shot tool for find all answers

Manish

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86 Manish Chauhan May 14, 2012 at 5:44 pm

1. It would be 9 yrs (6+3) , because it was transfered .

2. No you cant do that. . 12% of basic is mandatory

3. Use RTI – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html . Works faster , is a little pain to do !

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87 Sundeep Gupta May 14, 2012 at 12:19 pm

Hi Manish,

1. I requested for transfer of my EPF from my previous 2 organisations to my current organisation. This was done in Aug 2011, and I have no updates so far. My employer say they do not follow up on this. How can I get the information / status of my transfer request.

2. Given that I requested for transfer in aug 2011 and there is no action on that yet, can I opt for withdrawl from my previous EPF account (knowing that its illegal) ?

3. This is a general question. Assuming a person is no longer working and has withdrawn his PF and all his EPF accounts are closed. And after say 1year he plans to join a job. Can he/she fill form 11 and opt out of the EPF contribution (Given basic is > 6500)

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88 Manish Chauhan May 14, 2012 at 5:41 pm

Sundeep

1. This happens all the time , its just few months as of now and your delay is below average :) . But you can now file an RTI and find how why is it stuck , do this : http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

2. Yes mostly you can do that, use RTI again in this case .

3. This is tricky , but as per the wordings in the rule of EPF – “If a person has earliar been part of EPF , then he cant opt out of it” , I would say NO

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89 Nita May 14, 2012 at 12:21 pm

Very nice article manish. I was not aware about the pension one can get under EPF

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90 Manish Chauhan May 14, 2012 at 5:35 pm

Yes .. Most of the people dont know because we never see someone sticking to a job for 10 yrs or so !

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91 ravindra May 14, 2012 at 12:21 pm

Thanks, for information gate Rs.3500 maximum limit EPF pension & How to caculate EPF pension

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92 Manish Chauhan May 14, 2012 at 5:33 pm

Welcome !

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93 Koganti Srinivasa Rao May 14, 2012 at 12:46 pm

I am 42 years old. If I want to a get a monthly pension of Rs 15000 per month from my 60th year, how much I have to invest per year and how many years. Please, let me know which is the best pension plan and insurance company.

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94 Manish Chauhan May 14, 2012 at 5:27 pm

Koganti

In this case EPF will not be useful because one can not get 15000 per month in EPF , its limited to 3-4k only as you can read about . To get 15000 per month , all you need is 20 lacs and investing in something giving 10% per annum , I think you should focus right now on growing your wealth , so just do SIP in mutual funds , after 18 yrs , when you are at 60 , there will be plenty of ways of doing it !

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95 SURESAN RAJA May 14, 2012 at 1:01 pm

Mr.Manish, You are great for giving this another good blog.

I need some more clarification of the following:

5. Construction or purchase of house or flat/site or plot for self or spouse or joint ownership

– You should have completed at least five years of service.
– The maximum amount you can avail of is 36 times your wages. To buy a site or plot, the amount is 24 times your salary.
– Can be avail of it just once during the entire service.

If my gross salary is 40000 p.m. then I will be eligible for Rs.144000/- or it is calculating basic pay i.e. suppose Rs.18000/- then I will be eligible for Rs.648000/-. My service balance is only for 7 years. Is there any terms to link with available EPF/EPS amount to sanction the advance? What will be the interest? I heard that it is 2% p.a.

Please clarify sir,

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96 SURESAN RAJA May 14, 2012 at 1:03 pm

In my earlier comments please read Rs.1440000/- instead of Rs.140000/-
Regards,

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97 Manish Chauhan May 14, 2012 at 5:25 pm

Suresan

The first thing is that you are not getting any LOAN , you are actually getting your own money from EPF , its partial withdrawal here .

Next thing is that it will be 36 X BASIC Salary , because there can be two different people with same basic but different take home . So it does not make sense to assume take home salary or gross salary . Its basic !

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98 SURESAN RAJA May 15, 2012 at 9:59 am

Thanks sir. But a doubt that if the calculation for 36xBasic goes to Rs.6,48,000/- where as I got the SMS through online PF balance is only Rs.2,00,000/-. So how much I will get whether it is 6.48 lacs or 80% of the PF balance of Rs. 2 lacs? Regards,

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99 Manish Chauhan May 15, 2012 at 9:40 pm

Better enquire using RTI

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100 Sandip May 14, 2012 at 1:04 pm

Dear Manish, thanks for nice informative article. I want to know one thing thatwhen any EPF loan is due then can anyone repay and take another loan in the same financial year or not?

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101 Manish Chauhan May 14, 2012 at 5:23 pm

I am not sure what exactly is your question . What is meant by EPF loan ?

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102 SURESAN RAJA May 16, 2012 at 9:13 am

I think he meant for the EPF Loan is the EPF advance we can take for different reasons i.e. for contruction/purchase of flat/house/land, education, marriage, medical etc. For some of the reason above can take advance only one time eg. we can take 80 to 90% our EPF balance for the custruction/purchase of flat/house/land only one time in the life. We have to submit the possession certificate within a year. If we use the money to any other purpose then it will recover in lumsum or from salary with interest @ 2% p.a.

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103 PATEL BHAVESH May 14, 2012 at 1:31 pm

Very nice.Thank u very much for updating as its very helpful in our life as far as fro the serviceman and women.

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104 Manish Chauhan May 14, 2012 at 5:22 pm

Welcome Bhavesh

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105 Bishal May 14, 2012 at 2:19 pm

Hi, does this elf information apply only in India or other countries too? Thanks.

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106 Manish Chauhan May 14, 2012 at 5:20 pm

Its only for India

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107 Bishal May 14, 2012 at 2:20 pm

Sorry, I meant EPF and EPS.

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108 Roshni Nayak May 14, 2012 at 2:26 pm

Hi Manish,

Nice article, you can add 2 more points here,

1. No interest will be credited in the EPF acount which are lying dormant for 3 years or more. This is with effect from April 1,2011.
2. If you withdraw EPF money before five years, it will be taxed.

Regards,
Roshni

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109 Manish Chauhan May 14, 2012 at 5:20 pm

Thanks for those points Rashmi

I considered them to be more known points actually :) .. But those are points many people would not know about !

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110 Charu Gupta May 14, 2012 at 3:06 pm

Manish,

A very very useful information, especially point 6 and 10. I had been looking for this information from a loong loong time and here you are, heard it and fulfilled it!

Thanks a lot. Btw, though I’ll go through you post on how to file for your EPF information, just wanted to know what can I do if my previous employer is not able to retrieve my EPF account information and details. If my current employer has to contirbute to my EPF, how can they do so when I don’t even know my EPF account number?

Charu!

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111 Manish Chauhan May 14, 2012 at 5:13 pm

Charu

When your new employer does not have your old EPF details , in that case they open a new EPF account on your name and you then have 2 EPF accounts . You can then choose to transfer your old EPF money to new EPF . You old Employer is not able to locate your EPF account number also ? Just number ! ..

If you have the account number somewhere in old salary slips etc , you can then just fill up a form for transfer of your EPF to new EPF . Do use RTI if this does not happen fast (6 months)

Manish

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112 Charu Gupta May 17, 2012 at 11:24 am

Thanks a lot Manish for the valuable information :)

Is your EPF account not linked to your PAN? And do they not check if one person has multiple accounts or not? I mean how come they allow for the same? It’s just duplication!

It seems my old employer has misplaced the PF account numbers sheet of all them employees! I’m after them to find it come what may and hoping that I should be able to get it soon. In case I don’t, I’ll definitely use RTI.

When I tried looking for it online, I did find the area code and company code. Do you think I can go to the office where our PF account was opened in Pune and request them to find my PF account number? Do you think there is any possibility this will help?

Charu

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113 Manish Chauhan May 18, 2012 at 9:26 am

Yes it can help , but the fastest and cheaper way is to file an RTI , use rtination.com if you feel lazy to go to post office to buy postal orders :)

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114 Veeraf May 14, 2012 at 3:19 pm

Excellent article contents and presentation. I have not meet a single person in my life time who was able to explain in points EPF, EPS and VPS.

Best Regards,

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115 Manish Chauhan May 14, 2012 at 5:11 pm

Good to hear that Veeraf ! thanks for appreciation . Teach to others now

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116 Satish May 14, 2012 at 4:29 pm

Thanks for posting the great information which many of us does not know. Keep posting similar information regularly

Dr.Satish (Hyderabad)

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117 Manish Chauhan May 14, 2012 at 5:10 pm

Thanks Satish .. I hope you learnt some really new things which you were unaware of !

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118 Prakash Kumar September 24, 2013 at 6:36 pm

Hi Manish,

Really nice article, i was not aware about the Pension scheme at age of 58 Yrs.

Thanks,
Prakash

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119 Manish Chauhan September 24, 2013 at 7:09 pm

Thanks :)

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120 Praveen May 14, 2012 at 5:16 pm

Hi Manish

Lets say i quit my job and withdraw my EPF.

What are the tax rules for this? Do i need to pay any tax on it?

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121 Manish Chauhan May 14, 2012 at 5:27 pm

Praveen

If you have completed 5 yrs of service , then no tax ,else it will be added as your income and taxed as per your slab !

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122 Sushil May 14, 2012 at 5:27 pm

Manish Ji….
Excellent Article once Again….though i knew much about EPF yet point no 3 and 4 are absolutely new for me…This information was indeed very well…

I am a regular visitor of your blog and now it has become my habit to visit it atleast once daily to check if anything new is there…i am addict to jagoinvestor.com
pls keep it up

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123 Manish Chauhan May 14, 2012 at 5:28 pm

Good to hear that Sushil .. keep it up

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124 C.R.KESAVAN May 14, 2012 at 6:05 pm

Manish,
The article is a very good one. I did not know about the EPS part(8.33%) does not generate any interest. Employees who get12% of their actual basic(instead of Rs780) will lose substantial amount of 8.33% of their employer’s contribution because of inflation & Zero interest. This is really terrifying.

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125 Manish Chauhan May 14, 2012 at 6:09 pm

Yes

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126 Anjan April 8, 2014 at 12:05 pm

Yes, it is indeed worrying that the EPS part which may grow to a substantial amount over the years does not earn any interest. This is complete waste and may be one of the reasons why monthly pension after 58 is restricted to only Rs.3540. This amount is already peanuts, so just imagine what will happen 30 years later thanks to inflation.

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127 Manoj May 14, 2012 at 6:14 pm

Thanks for the info. I have one query…You have mentioned “Employee contribution can go beyond 12% of basic”. Is there any cap on this contribution?

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128 Manish Chauhan May 14, 2012 at 6:17 pm

No, there is no cap on this .. 100% of your Basic can go in EPF ..

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129 Pavan May 14, 2012 at 6:31 pm

HI Manish,

Many thanks for your post. My understanding of 4th point (4: You might not get 100% of your EPF money) is below.
Assume monthly salary is 20834. His contribution towards EPS (subject to 541 per month is maximum) is 6492.
He leaves job after 1 year and opts for withdrawal. The EPS he gets is 20834*1.02 (As per table ‘D’) = 21250.
But this amount is more than the balance he has. Is this correct.

Also, ‘if 10 yrs are crossed, then you are liable for pension’ – Does this mean if he withdraws after 10 years he will get a pension? If Yes how is this calculated.

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130 Manish Chauhan May 14, 2012 at 6:46 pm

Pavan

No . Your EPS is subject to Maximum the amount is there in EPS :) . So whatever is lower will be given to you . Another thing is that here the salary is “basic salary” , not the gross

Also Pension will be given only once you are above age 58 yrs

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131 Pavan May 14, 2012 at 6:57 pm

Hi Manish,

Thanks.. I meant basic salary only since EPFO will only know our basic salary :).
One more query..
Do we need to give seperate application to transfer EPS or once we transfer EPF it will happen automatically ?

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132 Manish Chauhan May 14, 2012 at 11:28 pm

It will not happen automatically .. Note that you fill form 19 for EPF withdrawal and form 10 C will be filled for EPS

Manish

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133 Vineet May 14, 2012 at 7:51 pm

Very nice and informative article as usual.

>>>Lifelong pension is available to the member and upon his death members of the family are entitled for the pension.

Till what time family members can get pension? Which family members get it? Only those which are nominee?

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134 Vineet May 14, 2012 at 7:53 pm

Another question… what happens if person dies before reaching age 58. Are famliy members able to get pension in such case? If yes, till what time will they continue to get pension?

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135 Manish Chauhan May 14, 2012 at 11:25 pm

Vineet

Family can only get pension only when the pension was already on .If a person has not started pension, then his nominee will get the EPS money in lumpsum

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136 anilkumar December 14, 2012 at 3:42 pm

if pension has started till wht time i get pension..incase death how many years my nominee wil get pension

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137 Manish Chauhan December 19, 2012 at 2:57 pm

Life time

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138 ganesh December 14, 2012 at 5:51 pm

Can u pls ratify the point no 4..It showing that only some amount of EPS will be granted..If employee is not worked in a ten years..How he is liable for pension..You r telling that some 41600 rs granted..So where is rest of money…

The amount you are showing is in EPS is 100000lakh..
So where is the rest of money if he is not liable for Pension how they get balance money….

The e.g your given which is incorrect..

If any employee is worked in organisation for 10 Years still they contribute to EPS amount is 541*10(120 months) years =64920 only…

Can you please chge the amount of EPS…After 10 years of completing EPS we are not eligible to withdrawn the amount..

Can you pls look into this….

If we are withdrwing EPF within 10 years we will get entire money…

And the EPS scheme is not providing direct intrest but is giving in different way..As your point of view we can avail the intrest but we are getting somethhing extra only..

If employer invested 541* 9(108 months)years we will get only 58428 but as per Table D we are getting 64220Rs i.e we are getting(0.88%) extra..compared to EPF we are getting less amount..

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139 Manish Chauhan December 19, 2012 at 2:56 pm

So what has to be changed ? Whats wrong in that ?

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140 Manish Chauhan May 14, 2012 at 11:25 pm

Nominee will be handed over the money ,then it will move to legal heirs !

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141 Suresh Kr. Ray May 14, 2012 at 8:53 pm

Manishji,Once again the article is very relevant and informative. You have made known many hidden aspect of the EPF. One can seldom get these hidden aspect of EPF anywhere. And Its Happens only In JAGOINVESTOR. THANX

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142 Manish Chauhan May 14, 2012 at 11:24 pm

Thanks Suresh . Keep reading !

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143 Sachin May 14, 2012 at 11:14 pm

Hi Manish – very useful information, thanks. I have one Q about VPF..

“- You are eligible to withdraw an amount that is up to 36 times your wages.”

How is VPF is calculated for withdraw?

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144 Manish Chauhan May 14, 2012 at 11:22 pm

VPF is nothing but EPF only .. just that anything above 12% of your BASIC is labeled as VPF , but withdrawing rule is just same .. everything is EPF once the money is invested in that

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145 Sudhanshu May 15, 2012 at 12:30 am

Hi Manish,

What is the difference between PPF & EPF ? Can i have both accounts ? Also, please let me know about tax exemption, whether 70000 is for PPF or cumulatively for both PPF & EPF ?

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146 Manoj May 15, 2012 at 10:26 am

PPF – Public Provident Fund, which is not linked with the emplyer and entirely voluntary for a person just like NSC, while EPF – Is linked with the employer as employer has to add 12% amount from his side. You can have both PPF & EPF A/Cs. The limit of Rs. 70000 is increased to Rs. 100000 since last financial year & it is for PPF (not for EPF + PPF). You can have A/Cs for yourself, kid also. But the cumulative amount for you + kid should not exceed Rs. 100000.

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147 Viswa May 15, 2012 at 2:10 am

Very detailed and informative article.

Here is my question:
I have worked in a company in India for 4 years and got transferred USA as an US employee for last 4 years. Since I didn’t received any salary in India for the past 4 years, there is no contribution to my EPF account also. So I think my EPF account would be dormant. Can I withdraw the EPF account or any other option is there.

Thanks.

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148 Manish Chauhan May 15, 2012 at 9:43 pm

Viswa

Yes , you can now withdraw it . Fill up the form 13 for that

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149 Sukesh Choudhary May 15, 2012 at 2:42 am

Hi,

Nice article to go through.

One query regarding pension fund withdrwal, had joined company on 31-Dec-2010, left the organization on 31-Oct-2011, somewhere 10 months service is there, had applied for EPF and FPF withdrawl after 3 months, got the EPF amount only, had queried the reason behind not getting the pension fund; but still doesn’t get any clarification for the same from the concerned person there.

Can you please update whether i will be eligible for the withdrwal of accumulated pension amount for 10 months service.

Thanks in advance.

Regards,

Sukesh

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150 Manish Chauhan May 15, 2012 at 9:42 pm

Hmm.. if you see the article, as per table D ,the minimum service tenure should be 1 yr, but now its time you file an RTI application for this issue

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151 Sukesh May 15, 2012 at 11:42 pm

In case, me notbeing eligible t withdraw pension fund, whats the use of file of RTI ???

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152 Manish Chauhan May 16, 2012 at 9:11 pm

I said use RTI to find out the information . That what happens in case of 10 months of service . there should be some way for sure . You will get answer through RTI

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153 Sukesh Choudhary May 17, 2012 at 6:01 am

Thanks for your clarification in this regard.

Regards,

Sukesh

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154 Manish Chauhan May 17, 2012 at 9:59 am

Welcome

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155 Kannadasan May 15, 2012 at 7:18 am

Hey Manish,

there is a option like get a loan without interest instead of withdrawl a aprtial amount. is it true?.

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156 Manish Chauhan May 15, 2012 at 9:42 pm

No , i have not heard about loan option

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157 SURESAN RAJA May 16, 2012 at 9:15 am

There is no loan but advance against our EPF balance.

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158 Venkatesh May 15, 2012 at 9:18 am

Hi,

The information is very useful. These are very important for each individual. Very specific and to the point. Keep up the good work.

Thanks & regards,
Venkatesh R

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159 Manish Chauhan May 15, 2012 at 9:40 pm

Thanks Venkatesh

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160 Suresh K Narula May 15, 2012 at 10:41 am

Excellent Manish, but one fact is always missed while talking about EPF which is interest calculation. Every year, I get PF slip but I could never get right calculation of interest i.e. monthly compunded or yearly comounded. Please explore this fact.

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161 Manish Chauhan May 15, 2012 at 10:53 am

Suresh

I am not sure about it, but I think its just normal way .. Compound interest at the end of the year . Will try to find out more

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162 Sandeep June 7, 2012 at 12:14 pm

Hi,
Please explore EPF interest calculation method adopted by EPFO .
Compound interest at the end of the year method is not matching with the PF slips.I’m searching nos. of sites and articles on the subject matter,EPF Interest Calculators,Interest calculation Excel sheets etc. but not found the correct one which matches with PF slips provided by the EPFO.
Can I get information through RTI.
Please reply,Thanks

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163 JayaprakashReddy August 20, 2012 at 11:56 pm

I was in same impression as you. I found some interesting facts about EPF after speaking to my company CA. EPF interest calculation is done from March-Feb, this is bit unusual compared to fin year april-march or calendar year Jan-Dec. Even I found all the online calculators are not matching with our PF slips because of this. You can do your own calculation by applying interest starting from month March till Feb. I did that and it was exactly matching.

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164 Sandeep August 30, 2012 at 5:00 pm

Hi,
Yes sir,I agree with you but if member withdraws any amount during the year then as per our calculations,EPFO is adopting a method by adjusting a month prior to actually amount withdrawn.Another fact that for contribution deducted from Feb month salary/remuneration ,which has to be deposited in March,on that contribution no interest is being calculated.
EPF interest calculation is done from March-Feb,because deduction from March month to be deposited in April only.Thanks for reply.
Sandeep

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165 pari May 15, 2012 at 11:02 am

Very informative article!

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166 Manish Chauhan May 15, 2012 at 9:33 pm

Thanks !

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167 Mehul Naik May 15, 2012 at 11:05 am

Very informative post Manish. Thanks!

My parents were both in government service and are now retired. They are getting regular pension. The EPS is in addition to the regular pension govt. employees get or is it included in the same?

Please reply. Thanks.

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168 Manish Chauhan May 15, 2012 at 9:33 pm

Do they have EPF component . I think its in case of private salaried employees

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169 pophale May 15, 2012 at 11:10 am

Dear Manish,
Excellent informative article.I am at the age of 60 and not yet getting pension.What can be done.will I get interest on delayed payment?

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170 Manish Chauhan May 15, 2012 at 9:32 pm

No , you will have to apply for pension . Else you can withdraw it, but you need to take one action

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171 Neerav May 15, 2012 at 2:37 pm

This is regarding point 7. If a person leaves job and for 2 months he has no job then he can withdraw EPF. Now if he joins the new job does he have the option of not being part of EPF (although he was a member before)?

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172 Manish Chauhan May 15, 2012 at 9:17 pm

No , he does not have this option . He has been part of it once and now he has to be part of it .

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173 Neerav May 15, 2012 at 2:38 pm

Also regarding the nomination, I think after marriage one has to re-nominate.

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174 pophale May 16, 2012 at 10:36 am

Dear Manish
Thanks for your reply.I have already applied for pension by submitting documents through my company office.However, pension is not yet started.As usual no proper answers from govt. dept.Matter is under followup through my company official, being away from my residential place.Any quick remedial action is recommended by you.

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175 Manish Chauhan May 16, 2012 at 9:03 pm

now you should take help of RTI , I am sure that you will get immediate replies . Follow this : http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

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176 Siddhant May 16, 2012 at 12:48 pm

Hi Manish,

one fact which is important is that The money withdrawn before 5 years in the PF scheme is Taxable in income tax at full rate.
This can cause serious issues in personal income tax

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177 Manish Chauhan May 16, 2012 at 8:54 pm

Yes .. I didnt put this point because a lot of people know this

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178 Ms Hyacinth May 16, 2012 at 4:16 pm

Hi Manish

Real good insight into EPF keep it UP!!

It would be good if you give some info on FPS also for people who have completed more than 20 years of service in an organisation.

thanks

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179 Manish Chauhan May 16, 2012 at 8:49 pm

I have no idea on this FPS , what exactly is it ?

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180 munish May 16, 2012 at 4:39 pm

hello manish

i was an employee of an insurance co and i have worked for 1 year , nw after around 6 year i want to withdraw my PF but my account is dormant nw

Kindly confirm what is to be done in this case ????

Kindly revert

Munish

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181 Manish Chauhan May 16, 2012 at 8:29 pm

You can withdraw the money , you can now submit form 19 for EPF withdrawal and also fill form 10-C for withdrawal of EPS

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182 Prasanna May 16, 2012 at 7:10 pm

Manish,
I have the following query:

I started contributing to EPF since July 2005 in Company A. I changed job in July 2008 to Company B. I transferred EPF from Company A to Company B.
EPF amount got transferred properly and the EPF balance reflects it appropriately.
In May 2011, I again shifted job to company C and Opened a new EPF account.
I had not initiated a transfer of A+B EPF to C.
Now my questions are:
– I want to preclose a plot loan. Can I withdraw my old EPF for this purpose.
– If I withdraw, will it be taxable.

Please clarify.
Prasanna

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183 Manish Chauhan May 16, 2012 at 8:20 pm

You can withdraw it just like everyone else is doing so . If you are withdrawing it , then you dont have to mention the need at all .. but you will have to show that you are unemployed as you cant withdraw while you are employed in other job !

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184 Chandrashekhar May 16, 2012 at 9:06 pm

Hello,
I want to understand Employer’s PF Contribution is part of CTC or Not?
What PF Law says?
Any Example?

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185 Manish Chauhan May 16, 2012 at 9:34 pm

Truely speaking you should not worry about it . What is employer is giving you 7.3 lacs package and gives 30k as his contribution in CTC . Instead of this , he can always tell you that your package is 7 lacs , then it will look like you are getting extra 30k ?

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186 Suhas May 16, 2012 at 9:18 pm

Hi,

Nice article manish….
I my self withdrawn my pf 2 times but never thought of the legal things.

one addtion….. I heard that soon govt is going to have PF Portability similar to current mobile number portabilty.The deadline they have set is by end of 2012..But god knows when it will come….

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187 Manish Chauhan May 16, 2012 at 9:31 pm

yes .. portability talks are going on .. mostly that should happen very soon

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188 Selva May 17, 2012 at 8:43 am

Very useful info..

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189 Manish Chauhan May 17, 2012 at 9:58 am

Thanks

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190 Venkatesh May 17, 2012 at 7:47 pm

Hi,

I have an active EPF account from last 4 yrs. Now my question is will i be taxed on the total amount if in case i withdraw it let say in other 2 years?

Looking forward for your reply.

Regards

Venkatesh

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191 Manish Chauhan May 18, 2012 at 9:19 am

No , it would be 6 completed years by then and then it would not be taxable

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192 Sandeep May 17, 2012 at 9:07 pm

Hi

I have pending home loan of 4 Lacs at interest rate of 13% . Will it be adviseable to withdraw the partial amount from EPF to pay off the home loan . I have corpus of 12 Lacs in EPF & don’t have any major liabilities coming up in next 10 years . I have retirement due after 12 years

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193 Manish Chauhan May 18, 2012 at 9:17 am

Sandeep

I would say you can do that , but I dont think you can withdraw for this , you can take it for a fresh loan, but it would be tough to get it just for repayment .

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194 Vikram June 8, 2012 at 2:39 pm

Hi

In the above points, it is mentioned that EPF can be withdrawn for repaying loan.

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195 Manish Chauhan June 8, 2012 at 7:02 pm

Only after completing 10 yrs of service

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196 ANKUR May 17, 2012 at 11:03 pm

Good one Manish-Very informative!

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197 Manish Chauhan May 18, 2012 at 9:16 am

Thanks Ankur

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198 pradeep May 18, 2012 at 1:26 pm

I have any query .
What is Difference in EPS and Gratuity .
I guess Gratuitu is 4.83 % of basic, which is deposited by Emloyer .
is there any relation in both.
I can see one component as Gratuity in my CTC, and it is in addition to 12 % of basic that is deposited by Employer and Employee in EPF .

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199 Manish Chauhan May 19, 2012 at 7:38 pm

Gratuity and EPF are totally different . read about gratuity here : http://www.jagoinvestor.com/2009/05/what-is-super-annuation-benefit-and-how.html

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200 SAURABH May 18, 2012 at 4:31 pm

Can you please cross check that out of 12% contributed by employer 8.33% actually goes in EPS,i believe that 8.33% goes to EPF and the remaining goes to EPS.

Please check once,sorry if i am wrong.

BR
Saurabh.

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201 Manish Chauhan May 19, 2012 at 7:32 pm

No saurabh .. I dont think so , why do you have that confusion , did you read this somewhere ?

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202 girish c sharma May 18, 2012 at 9:14 pm

thanks for this excellent information.
I’ m working as a lecturer in education department of uttarakhand Govt. I’ve completed six n half years .cud i take loan from my EPF account for the purchase of a house, if yes how much and at what rate of intrest?

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203 Manish Chauhan May 19, 2012 at 7:24 pm

No, 10 yrs have to be completed for taking money out of your EPF account for house purchase !

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204 Prof KC Arora May 18, 2012 at 11:19 pm

Dear Mr Mansih Chauhan,

Excellent information you have disseminated on EPF and EPS.
We are all supposed to know our rights but how many of us actually know and how much, no one knows better than you by now.

I am enlightened with your inputs. but I still have one query on EPS. I left one PSU in 1998 and am getting pension in lieu of employer’s PF contirbution. I withdrew my own PF contribution from the PF Trust run by my PSU in 1998 itself. That matter may be clsoed for now.

Then I joined a B-School and joined EPF and EPS from 1st July 2005. My Date Of Birth is 4th May 1951. EPS dedn continuted till Feb 2011 by mistake at around 60 years. I have completed 7 years by now and am to retire in 2016 at the age of 65.
at the age of 58 in May 2009, I had completed only 3 years 11 months service. I should have withdrwan pension benefit @6500x4x4.18 in 2009 itself. Even now I can withdraw whatever I have depsoited with EPS. This I came to know last week only.

But my query is :
Can I continue to keep this money in EPS, complete ten years or more of service at the age of 65 (retirement age) and request for pension based on whatever my credit in EPS account and the length of service at 65?.

Please dig deeper in tunnels of your knowledge store and please reply.

Thanks/ Prof KC Arora

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205 Manish Chauhan May 19, 2012 at 7:21 pm

Yes ..it should be possible for you .. the only thing i would say is the amount of pension you would get from EPS would not be that great and anyways the limit of 3250 is there per month , which will be penny anyways .. so my personal situation is that you withdraw the money from EPS and then use it in a different way for generating regular income .

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206 Tom May 19, 2012 at 10:18 am

Manish,
Excellent and I really appreciate the way you explained things in very simple words, Keep up the good work !!!

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207 Manish Chauhan May 19, 2012 at 7:09 pm

Thanks Tom

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208 Prof KC Arora May 20, 2012 at 2:11 pm

Thanks, Mr. Manish Chauhan. You have dispensed well informed and mature financial advice. Please keep it up.

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209 Padmesh KC May 21, 2012 at 9:32 pm

Dear Manish,
You have done a great service by posting this article.
Thank you so much.

I have a question: I have applied for transfer of my PF from my previous employer in Aug 2009. Till now there is no update. Current employer says he does not have any control beyond sending the transfer application.

My previous company is in Bangalore(Electronics city)
My current company is in Bangalore(Electronics city).[But registered office is in Noida, PF is maintained here as a Trust].

When I check in PF office Bangalore, they need confirmation from Noida. Not sure how to get this done.

Appreciate your reply/answer.

Padmesh KC

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210 Manish Chauhan May 22, 2012 at 7:25 pm
211 Prasad Achaiah May 22, 2012 at 7:43 am

Thanks you for providing such a valuable information.. Most of the time we assume that we are aware of this in full. However, this information makes us more equiped to handle this matter better in later stages. This will be a refference point in future. Thanks Manish.

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212 Manish Chauhan May 22, 2012 at 7:13 pm

Good to hear that Prasad :)

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213 nadeem May 24, 2012 at 4:33 pm

Thanks for valuable information. Non-refundable loan for purchase of house you have stated that once in the service period can you provide any documents related to this.

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214 abhimaniu May 27, 2012 at 1:36 pm

Thats too much info. Thanks

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215 Manish Chauhan May 27, 2012 at 1:53 pm

good or not :)

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216 siva May 28, 2012 at 5:52 pm

Wonderful article and many hidden facts revealed even which PF officials don;t know :)

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217 Manish Chauhan May 29, 2012 at 10:31 am

Thanks for appreciation

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218 Khirubagaran May 30, 2012 at 11:20 am

Hi Manish,

My previous employer didn’t give my PF number and it wasn’t printed in my payslip as well. When approached them they are not ready to provide and give me lame excuses.

Can I file a RTI complaint to get my PF number? Is there to procedure to get my PF number?

I worked for 16 months and they have deducted lumpsum amount as my PF contribution.

Once I get the PF number then I can file one more RTI to transfer my money into my account.

Thanks & Regards,
Khirubagaran

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219 Manish Chauhan May 30, 2012 at 5:29 pm

I think you can give your company name and PF office should be able to tell you that

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220 Khirubagaran May 31, 2012 at 7:27 pm

Thanks Manish. Will do that and share my entire story once I get my settlement.

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221 Manish Chauhan June 1, 2012 at 2:33 pm

ok

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222 Khirubagaran May 31, 2012 at 7:28 pm

Thanks Manish. Will do that and share my entire story as soon as I get my settlement.

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223 Manish Chauhan June 1, 2012 at 2:33 pm

Great .. please do

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224 Karthik June 6, 2012 at 5:56 pm

http://labour.nic.in/ss/Notificaiton/EnhancementofEDLIbenefits.pdf

This mentions that there is an amendment wrt enhancement of EDLI benefits to upto twenty times of avg monthly salary (max 6500) of last 12 months, which makes it maximum possible upto a total of 130,000 ? Pls confirm. Thanks

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225 Manish Chauhan June 6, 2012 at 6:33 pm

If that is the latest one , then better believe it

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226 Sandeep June 7, 2012 at 12:19 pm

Hi,
Please explore EPF interest calculation method adopted by EPFO .
Compound interest at the end of the year method is not matching with the PF slips.I’m searching nos. of sites and articles on the subject matter,EPF Interest Calculators,Interest calculation Excel sheets etc. but not found the correct one which matches with PF slips provided by the EPFO.
Can I get information through RTI.
Please reply,Thanks

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227 Manish Chauhan June 7, 2012 at 10:38 pm

Did you take into consideration that a part of your EPF money goes into EPS and it does not earn any interest?

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228 Sandeep June 8, 2012 at 3:17 pm

Thanks for reply and also taking this important issue for your kind consideration.
Yes Sir,EPS part/contribution not included for calculating interest at my end.Only the EE & ER share(excluding EPS@8.33% subject to maximum 541/-) taken for calculations.Actually Sir,EPFO calculates interest on EE & ER share separately as shown in issued PF slips also.EPFO office says that our software calculates interest but on questioning which method & formula being adopted,no reply also no information on site & scheme.Sir,if you are having PF slip issued by the EPFO and monthly contribution details(Form-3A) of a particular year , calculate on monthly or annually compounding method basis ,calculation will not match with PF slips.Hence,Mr.Suresh K Narula’s post/comment dt.-15th May’12 is relevant and always missed while talking about EPF.Please explore this fact.
Sandeep

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229 Manish Chauhan June 8, 2012 at 6:57 pm

Did you get the information about “How EPF interest is calcualted” through RTI ? Do that and you will get the answer for sure

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230 Krishnendu June 7, 2012 at 4:04 pm

Whether employees inducted at or above Rs.6500/- necessarily come under the EPF and EPS? Also, if a person is a member of the EPF, will that automatically entitle him a membership of the EPS? Can he choose to be out of it? Can the industry take the plea of not entitling him the provision?

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231 Manish Chauhan June 7, 2012 at 10:20 pm

the limit of 6500 applies to EPS , one has to compulsorily opt for EPS automaticaly , you cant escape it

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232 Deivasigamani June 7, 2012 at 6:12 pm

Awesome post about EPF. One of the best articles in the www about the finer details of EPF.

Thanks a lot for sharing it and taking the time to explore and write about this.

Deiva

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233 Vikram June 8, 2012 at 2:41 pm

Hello Manish,

Assuming my basic to be 10000 and my service is since 6 years, how much of loan/advance can i get for repaying my home loan.

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234 Manish Chauhan June 8, 2012 at 7:01 pm

You can not get it for home loan repayment , because it needs atleast 10 yr of service

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235 Vikram June 8, 2012 at 3:11 pm

Also can we withdraw EPS

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236 amit June 14, 2012 at 11:58 pm

meri skitne ghante ki dutty or kitni salary wale ka epf cut sakta h

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237 Manish Chauhan June 15, 2012 at 6:26 pm

Please ask in simple language !

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238 TULSHIDAS June 17, 2012 at 11:21 am

Pl. let me know, how much days it will take to sanctioned the home loan amt, after submission of form no 31

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239 Manish Chauhan June 19, 2012 at 10:25 am

There is no time frame like this defined .. each bank takes different time

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240 Prasoon June 19, 2012 at 3:11 pm

Manish,

I noticed that EPF Balance (mentioned on EPF slip or sent via SMS) for Employee’s contribution was slightly different from what I had calculated. When I checked with my HR, they told me that it’s Mar-Feb calculation instead of Apr-Mar calculation. So for F.Y. 2010-11, it’ll take contributions of Mar 2010 – Feb 2011 into consideration. When I recalculated based on above, it matched for last three years.

Could you please confirm that it is in general practice and not an exception?

Prasoon

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241 Prasoon June 19, 2012 at 3:13 pm

Just to add, Employer’s contribution was also calculated in the same manner.

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242 Manish Chauhan June 19, 2012 at 6:51 pm

Yes.. this seems correct to me , because the calculation will be done on the lowest balance from 5th to last of month . so what ever you put in FEB , will be added back to that month and for MAR the interest will be added at the end of the MAR month ! .

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243 Naveen Kumar S R June 19, 2012 at 8:31 pm

Thanks a lot. The article was very informative. I need another clarification, is it compulsory for companies to provide EPF option to employees? Because in my current company we dont have EPF.

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244 Manish Chauhan June 21, 2012 at 3:38 pm

Its compulsory ,if the company has more than 20 employees !

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245 Naveen Kumar S R June 21, 2012 at 7:25 pm

Thanks for the info. My current companies strength is less than 20.

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246 Manish Chauhan June 21, 2012 at 7:29 pm

then its not mandatory for them :) .. But you better start acting like your EPF is being cut and start saving it :)

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247 Naveen Kumar S R June 22, 2012 at 7:06 pm

what do you recommend as a replacement for EPF? I have opened PPF account and depositing maximum amount permissible already. Do you suggest any other option?

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248 Manish Chauhan June 22, 2012 at 8:57 pm

Yes PPF is a very valid alternatives. you are going right

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249 Vishnumoorthy June 20, 2012 at 6:25 pm

Hi manish,
I have 2 doubts related to this. Could you please solve them?
1. To get pension amount, I should have finished 10 years of service and 58+ years both? Or any one condition is applicable?

2. You told pension will be for life long and after person’s death, nominee will get it. How pension is paid? how much they will pay? is it monthly payment? Please give clarity on payment of pension

Thank you,
Vishnu

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250 Manish Chauhan June 21, 2012 at 2:48 pm

1. Both

2. Yes its paid montly and how much is mentioned in article

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251 Vishnumoorthy June 21, 2012 at 6:12 pm

Thank you :)

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252 Pradeep Kumar August 16, 2012 at 3:40 pm

Dear Sir,

I have booked a flat with a builder and the flat is almost complete and now to fund the registeration process I would like to withdraw my PF please let me know is it possible to get the withdrawal for this if yes what documents I have to furnish?

I have gone through the PF Form 31 requirments for buying a flat but the withdrawal amount will go in favour of the builder and for registration I need the amount in my favour. Pls guide

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253 Urvashi June 22, 2012 at 1:17 pm

I was working in a private company in Mumbai during 2006-2008 where EPF was deducted. After a year or so, I shifted to another company in mumbai where also EPF was deducted and was till Aug 2009. After I shifted to a Company in Gurgaon where EPF is not deducted since the company has less than 20 employees.

1)What are my current options in respect of the deduction already made and how do I get to know the current status of my fund.

2) Can EPF fund be transfered to PPF a/c

3) you mentioned that Rs: 100,000 limit is only for PPF so do that mean that under 80C if someone has EPF deduction of say 100,000 he can also avail of 100,000 deposited into PPF account

Pls clarify

thanks

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254 Manish Chauhan June 23, 2012 at 8:12 am

Urvashi

1. Right now you can either withdraw the EPF Or you can let is continue , it will earn the interest for next 3 yrs from the date of inactivity (each EPF is seperate) . After that it will not earn interest

2. NO , they are totally seperate things .

3. NO , you can deposit 1 lac in PPF , but your total 80C deduction can not cross 1 lac .

Manish

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255 Swati July 4, 2012 at 11:29 am

Thank you so much for sharing your knowledge. Really helpful.

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256 Swetank Saroj July 5, 2012 at 2:59 pm

Hi Manish,

Thanks a lot for this great and informative article.

Have read your blog some time but especially hooked to reading it from last one week. Its great that you start a topic and then are people keep on adding comments and extra information which are really helpful.

I am working from last 5 years. I initialy worked for 3 yrs 4 months in a company at Gurgaon and then changed my job to another company in Bangalore. Starting from October, 2012 will be moving to a new organization to a new city.

My Gurgaon Employer used to submit the EPF with RPFC Gurgaon and the present Employer have their own PF fund. I raised a request for EPF transfer from RPFC Gurgaon to my new PF account. I properly followed the procedure and have scanned copies of document as proof for not only raising the transfer request but also of its submission and acceptance by the RPFC Gurgaon. Its been close to 16 months but my EPF has not been transferred to my present employer. Have raised my grievances recently when I was sure that I might be getting a new job offer.

I tried a lot to get in touch with the people at RPFC Gurgaon; months or say a year back someone has picked my call at the office and said that it will take a minimum of 1 year and after that no one is giving me a proper reply. I know RTI is an option (got to know the procedure from your blog only). Initially (till 31st March 2012) I was able to my transfer request status online (shows that its accepted and transfer is in process) but from 1st April, 2012 now I am only able to see a blank screen againg my claim/request. Although I recieve updated SMS when I try to find out the amount, initially it shows only the total amount till 31st March, 2010 and now upto 31st March, 2011.

I would also like to state that based on my interaction with other people and friends RPFC Gurgaon is one of the worst office; they never send the PF slip to the respective employess (I never get a PF account statement as is expected from them during my 3.4 yrs of tenure) nor they even care to send the PF statement details to the employer (my last employer confirmed this to me as well as many of my co-workers)

I request you to answer my below mentioned queries:

1. In case my transfer request got successful, will I be getting my EPS also transffered to the new account or only the EPF?

2. Do I need to send a new Form 10 for EPS transfer request?

3. In case I send an RTI query will I be able to recieve the transfer amount to my present PF account before September, 2012?

4. In case the transfer do not get completed by the time I got released from my present employer and the amount came after that what and how it will be taken care of? Assuming two cases- First, when I do not withdraw my PF from the present employer soon and Second when I withdraw the PF from my present employer?

5. Assuming I start getting a pension from the EPS amount; I know I can pass it over to my heir after my deat, but can they also pass it on to somenone after their demise?

Once again I would like to thank you for your great effort.

I also request to write about the consumer rights especially in case of Airline Industry and the flight and travel insurance concerned. I have recenly claim an amount of 10K under flight delay criteria and after successfully waiting and umpteen number of follow-up for 5 months got the entire 10K insurance ammount.

Thanks,
swetank

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257 Manish Chauhan July 6, 2012 at 7:55 pm

1. If you had filled form 13 , it will take care of EPS also

2. I feel this should come into 3rd point

3. RTI is only for getting information , nothing else

4. You generally get the EPF amount in your bank account or through cheque , so there is no concern like this that you should be present in current company

5. You can get it only after 10 yrs of service and completing 58 yrs of age, so its too early to think about it :)

For consumer rights issue just go to akosha.in , they will take care of it !

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258 Swetank Saroj July 6, 2012 at 9:28 pm

Hi Manish,

Thanks for your reply.

As per your 4th point my concern is a little different. I have requested for the transfer of my PF and not withdrawal. I know two seperate cheques will be sent (one for EPF and the other for EPS). But if I am not wrong these cheques will be sent directly to my present emploey PF fund or PF account number. As I am leaving the company by the end of September, 2012 and will againg raise a request for transfer of this amount (from my present PF to the new PF account). What will happen when my sendcond transfer happened before the credit of the first transfer request?

Hope I am clear in my query?

Thanks,
Swetank

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259 Manish Chauhan July 7, 2012 at 8:29 am

Hmm .. I am actually not clear of answer . I request you to file the RTI with these queries, you should get reply within 30 days

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260 Rakesh July 10, 2012 at 12:44 am

Hi Manish,

Somehow article is not there anymore.
Only comments are there.

Please check

Thanks,
Rakesh

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261 Rakesh July 10, 2012 at 12:48 am

After posting the comment, article is visible now.

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262 Arvind July 19, 2012 at 12:06 pm

Hi Manish,
I am working in Engineering college as Assistant Professor, my monthly EPF cutting is Rs. 780/-from my salary. I have checked my EPF balance as given below
On 08/09/2011, found Accounts updated up to 31/03/2010 EE=Rs. 40963/- & ER=Rs. 12551/-
On 22/05/2012, found Accounts updated up to 31/03/2011 EE=Rs. 44854/- & ER=Rs. 13743/-
My Expectation on 22/05/2012, Accounts updated up to 31/03/2011 EE=Rs. 54622/- & ER=Rs. 16736/-, today also it is showing the same.
After calculation I found that (44854-40963=3891) Rs. 3891/- is interest on EE Rs. 40963/- and (13743-12551=1192) Rs. 1192/- is interest on ER Rs. 12551/-
So there is a difference of Rs. 9768/- in EE and Rs.2993/- in ER (Total one year EPF Cutting @ Rs.780/-), Why this difference is there?
I have checked with my Employee, they said that all amount is paid to the EPF office, I have verified also.
Can we say that one should not check and believe on http://www.epfindia.com/
For Nasik: – http://epfoservices.in/epfo/member_balance/member_balance.php?officename=NASIK
What can be done in this regard?

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263 Manish Chauhan July 20, 2012 at 12:55 pm

File an RTI application on this, post your queries and you will get the reply

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264 KeN July 25, 2012 at 2:02 pm

Hi Manish,

Thank you very much for sharing this information. I wanted to know if I can completely withdraw my PF account.

I have been exactly 2 years with my (first)employer and I’ll quit my job next month and go for MS. Every month Rs. 1350 is deducted at source (as EPF. So this means total contribution towards PF is 2700 per month. Subtracting Rs. 541 gives me Rs2159 per month in my EPF account) Can I withdraw my EPF money calculated – Rs. 2159×24(months) = 51816 and EPS money calculated – Rs.6500*2.05=13325 ? Total comes around Rs 65414 (=51816+13325) !

1.Can I withdraw this amount ? And in approx. how many months will I receive my money ?

2. As I’m leaving this job, the taxable income calculated for FY 2012-2013 will not be more than 2L slab, which implies that I need not pay tax while this withdrawal. Correct me if I’m wrong !

Looking forward to your answer !
Thanks.

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265 Manish Chauhan July 27, 2012 at 7:31 am

Vishal

1. You can withdraw this amount , but note that it does not come fast , it can take months and years .. but you do one thing . Put the withdrawal form and then keep following up using RTI applications . http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

2. Yes you dont need to pay tax on your INCOME , but this withdrawal money will be taxable because your EPF is only non-taxable after 5 yrs of working .

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266 KeN July 30, 2012 at 11:31 am

You mean to say that, it is not counted under INCOME and it is taxed seperately ? In such case is the percentage deducted 10% or … ?

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267 Manish Chauhan July 31, 2012 at 5:38 pm

I guess I made mistake , it will actually be added to your income and taxed accordingly ! , hence if there is no other income in that year and the withdrawal from EPF is less than 2 lacs, then NO TAX

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268 SS July 27, 2012 at 12:22 pm

Hi Manish

I have completed 7 year of service and joining a new company. I would like to completely withdraw my PF. Even if it is non-taxable will this withdrawal be shown in Form 16 ? Do I need to declare the PF withdrawal when I file ITR next year ?

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269 Manish Chauhan July 28, 2012 at 8:15 pm

You can withdraw it , no tax on that, no need to show it in return

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270 Prasad July 29, 2012 at 12:33 pm

Hi Manish,

I have worked for company ‘A’ for 12 year and recently changed to company ‘B”.
Company ‘A’ maintains my PF in PF trust.

I want to withdraw my PF to save my property in my home town. As you said it is illegal to withdraw when I am working in different company, what can I do now?

please suggest.

Br
Prasad

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271 Manish Chauhan July 31, 2012 at 5:48 pm

Thats how it is , as per law its now allowed, but generally people do it

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272 Ram July 29, 2012 at 6:46 pm

Dear Manish

In our organization there are two categories of employees. Faculty and non faculty.They were governed by different appointment conditions.They were given employers contribution of 12 per cent of their basic and DA

Now the management is saying that one category is eligible for only the employer contribution limited to Rs. 12 pc of Rs. 6500.Can the management have two types of eployer contribution for two different category of workers?

Ram

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273 Manish Chauhan July 31, 2012 at 5:02 pm

I am not sure of that, better you ask it on our forum : http://www.jagoinvestor.com/forum

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274 alpesh July 31, 2012 at 10:04 am

how i witharw eps please reply give full detail regarding eps

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275 Manish Chauhan July 31, 2012 at 10:57 am
276 Srinivas August 2, 2012 at 6:52 pm

Hi Manish,
Thanks for the valuable information.
I have been working in a private company for the last 11 years. I have been contributing Rs 541 per month all along.I got the formula (above) to calculate pension as:
Monthly pension=( Pensionable salary*Pensionable service)/70

I am not clear on how pensionable salary is arrived at. You have mentioned that “normally this would be limited to Rs 6,500 p.m.”
Does it mean that the maximum pensionable salary is Rs 6500 for calculating pension. My current basic is Rs 22000. Is pensionable salary dependant on the basic? Kindly clarify. Thanks.

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277 Manish Chauhan August 4, 2012 at 6:24 pm

Pensionable salary would be maximum 6,500 , if some one crosses that , still his salary would be taken as 6500 only , so beyond a point , your pension does not increase !

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278 Neha August 3, 2012 at 7:08 pm

Hi,

I would like to know if one has not withdrawn or transfered their Pf from 2007 till date then what will happen ?? Can he claim now ? Will they get PF with some interest ?
Please clarify.

Thanks

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279 Manish Chauhan August 4, 2012 at 12:19 pm

You must have got interest for 3 yrs only, not after that .. you can now withdraw it or transfer to another account !

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280 sathish August 9, 2012 at 3:46 pm

I have resigned my previous job in april and opted for PF withdrawal from my previous employer.The same has been processed and it was rejected from PF office.Then my employer corrected it and sent back to PF office.And again for the second time it was rejected and this time my employer says that he did not recieve the rejected form from PF office.so what can i do to proceed further?

1.Whether i need to enquire the PF office regarding the Form? or
2. Can i ask my employer to resubmit the PF withdrawal form?

Note: One of my friend opted for the PF withdrawal from the same employer but he responded that u can withdraw the PF amount only if he is unemployed…so whether it is true? is there any rule like that? if not so whether v can oppose our employer to sent the withdrawal form?

Please suggest..Thanks in advance..

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281 Manish Chauhan August 10, 2012 at 6:14 pm

Satish

Yes you can withdraw it only if you are unemployed, better file an RTI now and ask your queries from them !

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282 Aparna August 13, 2012 at 12:47 pm

Thanks for the informative article…Got to learn so much :)

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283 sandeep August 13, 2012 at 7:00 pm

we usually get balance for EPF in terms of EE & ER. How to get pension fund balance?

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284 Manish Chauhan August 14, 2012 at 2:09 pm

You mean EPS ? That you can get only by RTI !

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285 RAMIDI August 14, 2012 at 11:41 am

Sir, actually i resigned a job in 2007 but not applied for PF, is it possible to apply now…

pls. give the clarification on this…

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286 Manish Chauhan August 14, 2012 at 12:30 pm

You will have to apply for withdrawal now !

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287 ASHWANI KUMAR August 15, 2012 at 9:21 am

Sir,

Pls guaid me to about to pension fund . i do not understand EPS amount after how much time withdrewal.

With Regards,

Ashwani Kumar

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288 Manish Chauhan August 17, 2012 at 2:12 pm

What exactly you need in the guidance ?

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289 Deb August 16, 2012 at 3:16 pm

I left the job in July and I want to withdraw my PF amount now,Can you please tell me that the withdrawal PF amount will be added to my current year income and wil be taxable as per the slab?or it will be deducted from the past years’ savings and recalculate the tax for the past years?

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290 Manish Chauhan August 17, 2012 at 1:14 pm

If you have not completed 5 yrs of job , then it will be added to your current income for the year and taxed as per slab

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291 Pradeep Kumar August 16, 2012 at 4:31 pm

Dear Sir,
I bought a flat fom a builder and the flat is almost complete for possession. now for registration and other charges I would like to withdraw from PF. Is it possible to withdraw for registration purpose? and then how?
I have read the terms of EPFO that the cheque will be made in favour of the builder but the registration is not their responce. So how can I get the cheque in my favour Pls let me know how can I tackle this issue.

Reply

292 Manish Chauhan August 17, 2012 at 1:06 pm

I dont think you can do that , you can get the money from EPF only if you have served for more than 10 yrs (please confirm once) and that can be towards the main payment, not for registration and all .

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293 Pradeep Kumar August 17, 2012 at 1:37 pm

I have completed more than 10 year in PF, Is there any way out

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294 Kishore August 17, 2012 at 5:09 pm

Hi Manish,

Is Form-13 required from the current employer for withdrwing PF from previous employer.

Thanks in advance !

Kishore

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295 Manish Chauhan August 20, 2012 at 11:16 am

No , your current employer has nothing to do with the EPF withdrawal from previous company, form 13 is available on net , just download it !

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296 Balaji August 20, 2012 at 7:23 pm

Hi Manish,
I worked for an MNC for 5 years from 2000-05. Few years back the company has closed all its India operations. What’s the procedure to withdraw PF and who can endorse my PF withdrawal application.

Regards,
Balaji

Reply

297 Manish Chauhan August 22, 2012 at 7:37 pm

You will now have to fill form 10C and send it to PF department .

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298 LOKESH TANEJA August 21, 2012 at 12:08 pm

Dear MR. Manish,

One query regarding EPS i.e. 8.33% or 541 whichever is less.

My query is if any employee works in any months for 15 days and his monthly basic salary is 10000/-. Now he gets his basic salary Rs. 5000/- (for 15 days)

In such cases what would be the EPS amount
is it 417 (8.33% on 5000)
or
271 (50% of 541)

regards
lokesh

Reply

299 Manish Chauhan August 22, 2012 at 7:05 pm

It will be 8.33% of the basic salary for that month !

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300 Pavan August 23, 2012 at 12:03 pm

Hi,
Thanks for the information provided in this article.
I am currently working with my 3rd employer. I had applied for a PF transfer from 1st to 2nd employer. When i quit my 2nd employer, i couldnt withdraw as the transfer process was still undergoing. So this year when i got a confirmation that the amount has been transferred, i applied for a withdrawal from my 2nd employer and ideally i should be getting transferred amount of 1st employer + amount accumulated in 2nd employer. But i just got the latter part after withdrawal. When queried, my 2nd employer said that, the transfer is not yet reflected in the account statement by their PF office. So, i will have to reapply for a withdrawal once it is reflected.
Now my question is, when the time comes to re-apply for a withdrawal (this time for the transferred amount) I hope the PF account doesn’t get closed by then because of no-amount or whatever. I found that my PF account with 1st employer has already been closed after the transfer so i am pretty confused about this.
Please help!
Regards,
Pavan.

Reply

301 Manish Chauhan August 26, 2012 at 1:09 pm

You account is closed only after the money is withdrawn or transferred, so at any point of time you would need an active account, right . I am not sure if I understood what you want !

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302 Hetav August 24, 2012 at 2:36 pm

Mahish,
Wonderful post indeed.
Just one question on the PF withdrawal please-
I quit my job on Dec 2011 and I filled my PF withdrawal on Aug 2012.
My question is by what date/month do I earn an interest on my PF amount. i.e. Till Dec 2011 or Aug 2012.
Hope I am not too confusing :)

Reply

303 Manish Chauhan August 26, 2012 at 12:25 pm

You will get it till for the month , its actually withdrawn !

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304 swapan kumar August 24, 2012 at 7:51 pm

hello Sir, i left my last company in the month of june 2012, and haven’t joined any other company till now, so when can i apply to withdraw my EPF & EPS amount. please suggest

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305 Manish Chauhan August 26, 2012 at 12:18 pm

Yes you can do that !

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306 Geeta Ramola August 24, 2012 at 9:06 pm

I worked as a teacher from 9th oct 2000 to 17th march 2011 and i filled up all the required form. when ever i google about payment amount i will get from epf, message which i get on my mobile is accounts updated upto 31st march 2010. Now my query is what about the one whole year i worked from 1st april 2010 to 17th march 2011 .are they going to pay me for that period or is there mistake done by them? how to go about? please help

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307 Manish Chauhan August 26, 2012 at 12:16 pm

Geeta

You should get it, just that they have not updated the records , you should not file a RTI for this

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308 swathi August 29, 2012 at 11:34 am

Hi,

I want to update my dob in pf details.Please tel me the procedure.
TIA

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309 Manish Chauhan August 31, 2012 at 1:30 pm

Swathi

Better ask it here http://www.jagoinvestor.com/forum

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310 S K Mishra August 30, 2012 at 10:37 pm

Hi Manish,

Thanks for such a informative post.
Please help in below :
What is the benefits for nominee in case of death of employee during service tenured in terms of EPF and EPS.
a.What is fixed amount nominee is eligible for?
b. Is Nominee eligible for Pension as well?
c. If point 2 is yes than how it is calculated and till what age this is being given?
d. Are there any other benefits from EPF for Nominee.

Also what is the limit for Gratuity?

Thanks
SK

Reply

311 Manish Chauhan August 31, 2012 at 9:43 am

S K Mishra

1. He will get both EPF and EPS
2. No , the amount will be just handed over to Nominee.
4. NO

Manish

Reply

312 Sat August 30, 2012 at 10:43 pm

Hi Manish,

Thanks for such a informative post.

Can you please help me in following :
a. What are the benefits nominee will get in case of death of EMP during service tenured with and without completing 10 yrs of service
b. Will nominee be eligible for Pension, what can be maxium amount and tenure in case its yes?
c. What will be lump sum eligible amount the nominee will get?
d. Any other Statutary benefit which Nominee will be eligible for?
e. What is the limit of gratuity?

Thanks a ton
SK

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313 Sat August 31, 2012 at 6:20 pm

Thanks Manish, so when u said no for pension this is true even when EMP has served 10 yrs of service?

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314 Manish Chauhan September 2, 2012 at 11:34 pm

What is EMP ?

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315 Nirav Parikh August 31, 2012 at 10:52 pm

Is EPF provide any kind of loan facility?

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316 PIYUSH September 2, 2012 at 2:19 am

You can only partially withdraw your own money. No loan are provided by EPF.

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317 Manish Chauhan September 2, 2012 at 9:05 pm
318 Peter September 5, 2012 at 12:56 pm

Hi Manish

In one of you comments above, you’ve mentioned “….you will be taxed and its not 30% , its actually added to your income and then taxed as per your slab”

I quit my last job in India in Dec 2009 and immediately moved abroad on employment. My previous employer has a Private Trust. My queries :

1) I read on a website that if you are going abroad on employment, you can opt out of this scheme and get your money back. Is that true? Does it apply to private trusts managed by the company and I don’t have to pay tax on withdrawal?

2) If 1) is not true and I do a withdrawal – will the amount be taxed at source ,i.e., @30% or will it be added to my “income” as per your comment and tax applied as per the approriate slab? As I don’t have any other income in India, would that mean that if my taxable PF withdrawal balance (excluding employee contribution) is less than 5 lakhs, I just pay 10% as tax on the PF withdrawal?

You response would be greatly appreciated.

Many Thanks
Peter

Reply

319 Manish Chauhan September 5, 2012 at 7:46 pm

Peter

Yes , I have also heard this, but not much information is available anywhere, can you open a thread on our forum to discuss this – http://www.jagoinvestor.com/forum/

Reply

320 Peter September 6, 2012 at 7:38 am

Thanks for your quick response. I’ll open a new thread for point 1, however, for point 2, could you clarify what the % of TDS would be? Would this be 30% or less as per one of your comments above.

Many Thanks
Peter

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321 Manish Chauhan September 8, 2012 at 10:25 pm

There will not be a TDS

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322 Sheela September 11, 2012 at 3:54 pm

HI,

I want to know about PF. If want to withdraw my amount after completing 1 year in a particular company can I get Employee and Employer contribution like 12+12 %.

Pls guide me

Regards,
Sheela.

Reply

323 Manish Chauhan September 12, 2012 at 10:22 am

Yes , but it will be taxable and you will get it only on leaving the job

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324 Vishal Mane September 11, 2012 at 6:43 pm

Very unique content, came to know lot of unseen aspects about PF which other sites do not provide.

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325 Manish Chauhan September 12, 2012 at 10:08 am

Thanks for appreciation Vishal !

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326 bimal Mehra September 12, 2012 at 5:42 pm

Hi Manish,
I want one clarification , I left my org. two yrs back then I joined a new one, I initiated the PF transfer req. but even after two yrs the transfer didn’t happen , I inquired on this from my first employer and they said they didn’t have any acknowledgement regarding my PF transfer request sent to PF dept. and eventually the transfer still not happened.
Now I don’t know whats the status of this transfer request and even not sure whether they had initiated the request or not. So I decided to withdraw the PF
but my employer sent me few forms and one is Non-Employment declaration form ,Though I know its not legal to withdraw but because of the unresponsiveness of my previous employer I want to take this decision.

Please suggest can I withdraw my PF money without keeping my previous employer in loop.also my PF is in Chennai PF office and currently I am in Mumbai, can it be possible to do it from mumbai itself.

Reply

327 Manish Chauhan September 13, 2012 at 10:44 pm

Bimal

Yes its possible to withdraw from EPF without involving your previous employer , but then you need to do some extra things like you need to get a signature from a gazzated officer (like you do for noterizing things)

Manish

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328 ravi September 12, 2012 at 11:17 pm

I joined central govt job recently before that I worked for 2 private companies
in 2nd private company I applied for PF transfer but not sure whether I applied for EPS transfer or not. ammount from 1st PF account has come to 2nd PF office.My questions:

1. As per my current employer, In central govt there is no provision to transfer EPF fund so in this case what should I do? will withdrawal be taxable? can I keep PF active and get all benefit like pention etc.?

1. How can I find out whether EPS part has been transferred ?

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329 Manish Chauhan September 13, 2012 at 10:15 pm

Ravi

Generally if your employer has helped you in all the forms , they must have taken care of it , also you can ask from EPFO directly using RTI

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330 Prasad September 13, 2012 at 12:08 am

Hi Manish,

Is it possible that employer doesn’t create EPF account for employee even though the salary is Rs. 20,000. ?

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331 Manish Chauhan September 13, 2012 at 10:14 pm

Yes its possible , the only rule is that a employer should have more than 20 employees to be part of EPFO : http://www.epfindia.com/for_employers.htm

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332 Kushal Sharma September 15, 2012 at 2:06 am

Awesome post about EPF. One of the best articles in the www about the finer details of EPF.

Thanks a lot for sharing it and taking the time to explore and write about this.

Regards
Kushal Sharma
AOL-kushal.sharma

Reply

333 Manish Chauhan September 18, 2012 at 1:07 pm

Welcome Kushal !

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334 ANIL September 16, 2012 at 11:11 am

Dear Manish
Your article is very informative.Keep up the good work! I was employed in a public sector company for 15 yrs.I resigned and now I am working abroad. On leaving the previous company,I had received a Scheme Certificate from EPFO under pension scheme 1995 with Scheme certificate no.,details of pensionable salary,pensionable service etc.What should I do with this certificate for getting pension? Please clarify.
Regards
Anil

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335 Manish Chauhan September 16, 2012 at 6:54 pm

Anil

You will get maximum clarity only when you discuss it on our forum , let other members also have a look at it – http://www.jagoinvestor.com/forum/

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336 Yougesh September 16, 2012 at 4:36 pm

Hi Manish,
I have check my PF account & I recieve msg as below:

EPF balance in a/c no. AP/HYD/xxxxx/xxx/xxx is EE amt:Rs 16988, ER rs.5192 as on 04-09-12(accounts updated upto 31-03-11)-EPFO.
\
I was joined in my company in sep 2008. From then my p.f contribution is 780 rs per month till today.can you explain how this would be added to my p.f and explain in detail about the message i recieved from EPFO.

What is EE amt?
What is ER amt?

Thanks
Yogesh

Reply

337 Manish Chauhan September 16, 2012 at 6:47 pm

EE is your contribution to EPF
ER is your employer contribution to EPF and rest goes to EPS

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338 Nithin R September 19, 2012 at 1:39 am

Manish,

Had a question!
The maximum contribution towards the EPS per month is 541, & EPF+VPF is “X”
When withdrawal, you mentioned that only the EPF(+VPF) is given 100% of the contribution + interest. And EPS is as per Table D

Now, Lets say an employee has served 8 years and is applying for withdrawal
His EPF will be given 100%, n his EPS is 6500*8.7 = 56550
While the contribution towards EPS is only 541*12*8 = 51936
How does this work out! Isn’t there a difference of 4614?
That the employee will stand to gain?

Am I missing something here?? Thanks in advance!

Reply

339 Manish Chauhan September 19, 2012 at 5:27 pm

thats how it is .. you are loosing out actually , there is no interest you are getting on EPS !

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340 SANDEEP KUMAR SAMAL September 19, 2012 at 3:42 pm

hi, my name is sandeep kumar samal. my father had expired in the age of 39 date was 31st july 1992, from that time my mother gets the pf pension, but that amount is going to reduce as per the child grow and cross the age of 21 to 25, from starting my mother was getting near about rs. 2000 and now she is getting rs. 1400, but the pension amount is not grew till now.

kindly inform me pf pension would grow or reduce.

Thanks and regards

Reply

341 Manish Chauhan September 19, 2012 at 5:15 pm

I dont think it will grow , if it has been reducing , then it will just reduce ! .. Kindly discuss it on our forum – http://www.jagoinvestor.com/forum/

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342 ASHWINI September 20, 2012 at 2:31 pm

Hi,
I was working with “A” Company for 3.7 yrs ,after switching to “B” Company I witdraw my PF amount.
Now in “B” almost 1 year is completed, but for some financial issues I want to withdraw this PF money .
How can I apply for the same or I have to wait for changing the company again…

Reply

343 Manish Chauhan September 22, 2012 at 1:50 pm

You cant withdraw unless you quit your job , also it will be taxable !

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344 Harinderpal Singh September 21, 2012 at 2:17 am

Dear Manish,
Really nice to have such valuable informations regarding EPF, which is hard to get all at one site. Thanks for this.

I had a small query kindly help me.
I have completed 7 years of my service in a pvt ltd company.
I applied for 100% PF+VPF amount withdrawal for purchasing a flat. Also I had done builder buyer agreement jointly owned by myself and my father, hence company trust has refused my application. Kindly advice me on following points;
1. Is there any other legal way or any undertaking from my father will work in this case? or will I have to change the agreement altogether?
2. The supporting doccuments that I had submitted to the trust includes following, are these doccuments enough or need something more:
a. Proposed plan of site
b. Builder buyer agreement copy
c. Cost estimate from builder
d. Payment schedule and receipts of payment made so far
e. Demand notes from builder
Buider has not provided me any copy of Govt. NOC, Deed, approved plan etc. hence unable to submit these certificates. Is it necessary to submit these certificates also or not?
Please help me.

Reply

345 Manish Chauhan September 22, 2012 at 1:19 pm

I think you should discuss this on our forum – http://www.jagoinvestor.com/forum/

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346 Jacob September 21, 2012 at 6:43 pm

Hello Manish,
I have a query on EPF. I was working with a firm from March-2007 to Dec-2010 with a Firm. Then I have changed to another company. And I am working this company till date. But I have not transferred EPF from the previous company to my new account.
Is it possible now for me to shift the previous EPF amount to my current EPF account?
What is the procedure for that?
Thanks in Advance!!

Reply

347 Manish Chauhan September 22, 2012 at 9:55 am

Yes you can now transfer your old EPF to new one – Follow this http://www.jagoinvestor.com/forum/epf-account-transfer-issue/2892/ or ask another question there !

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348 Sateesh September 22, 2012 at 6:01 pm

Hi manish,

very nice article. Thanks and would like to know how much interest % we get for EPF?
and compound Interest is annually or half yearly?

and how much is the max % of amount of Basic , i add more to EPF???

Thanks
Sateesh

Reply

349 Manish Chauhan September 26, 2012 at 1:57 pm

Its all mentioned in the article itself !

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350 Mahendra Singh Gaharwar September 23, 2012 at 3:05 pm

Priya Manishji Namashkar,
Mai 1996 maine 1996 me Sahara India join kia tha aur 2010 me tyagpatra diya kya mai pension paane kaa hakdaar hun jabki maine apna PF le liya hai aur wartamaan me apnaa business kar rahaa hun ?.Yadi company band ho jaati hai to mujhe pension kaise prapt ho paayegaa ? krupayaa mujhe saari prakriya bataayen.Aur mujhe jo PF diya gayaa yadi mai usase santusht nahi hun to apne account ki poori jaankaari kaise prapt kar saktaa hu ?

Reply

351 Manish Chauhan September 26, 2012 at 1:18 pm

Agar company band hoti hai to pension obviously nahi milega . File a case against the company if its not following the rules

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352 sachin verma September 24, 2012 at 1:43 pm

hello manish
I am sachin i wnat to knwo abt my wifes pf amount. i visited the epf website and they sent me msg but i m not able to understand the msg so could u pls help abt this, msg is……
EPF Balace in A/C No. MP/IND/XXXXXX Is EE Amt: Rs 22810, ER Amt: Rs. 6979 as on 14-09-12 (Accounts updated upto 31-03-2012)-EPFO

Reply

353 Manish Chauhan September 26, 2012 at 12:50 pm

It means that as of 31-03-2012 , your total balance in EPF is 22810 + 6979 = 29800 ! ..

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354 ravi shankar September 26, 2012 at 12:03 pm

Hi Manish,
How are you. I have been following your blog with respect to PF A/cs and i must say that you are doing a fantastic work here.

I have a query of my own. I have worked for TI Cycles of India from 13th April 2009 to 15th Sep, 2009. I didnt withdraw my PF.

Then i worked for Bharti retail from 22nd September to 8th Feb 2010. Again i didnt withdraw my Pf.

Then i worked for Lilliput Kidswear Ltd from 1st June 2011 to 8th Oct 2011. No withdrawal of PF here as well.

I have the PF A/c no for all the three companies and from 15th Oct, 2012 i aam going to join Hawkins Cookers ltd.

Pls suggest how should i proceed, should i apply for withdrawal of these a/cs or can i get them transferred to the new organization which i am joining from 15th October.

Also is there any way by which i can know my balance in these PF A/cs as they are old A/cs.

Thanks in advance.
Ravi Shankar

Reply

355 Manish Chauhan September 26, 2012 at 12:15 pm

Ravi

You can either withdraw them all or transfer them , anyone is fine . BUt the point is how easy it will be for you to do that now , because you will need some kind of signatures from all the employers to transfer or withdraw, while there is a workaround to not involve the employers and get it transferred or withdraw it would involve taking signatures from some gazzated officers , will write about it very soon .

You can get info about your past EPF accounts in two ways

1. Either apply for EPF passbook , refer – http://www.jagoinvestor.com/2012/08/epf-passbook-employee-provident-fund-balance-online.html

2. Or file a RTI and ask about the balance , refer – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

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356 vishnu September 27, 2012 at 11:12 pm

Hi
will i get intrest on my provident fund a/c even after i had left my job?
whats the time limit for withdrawl of my pf acc amount????

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357 Manish Chauhan September 29, 2012 at 10:50 am

Yes you will get interest for 3 yrs , after which it will become in active and will not get interest , better transfer it to new EPF account soon , or just withdraw it !

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358 jobin September 28, 2012 at 11:24 pm

Hi Manish,

I applied for a PF transfer . My PF amount got transfered (My contribution + Employer PF contribution). But My pension amount is not transfered. I had 1 year 10 months of experience when i switched the job. Should i give some other form to transfer my Pension fund? Can you please give me a reply?

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359 Manish Chauhan September 29, 2012 at 10:16 am

You have to fill form 13 for that .

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360 NAGARAJU September 30, 2012 at 3:50 pm

HOW CAN I KNOW MY EMPLOYER SHARE IN MY P.F SLIP . IT IS NOT MENTIONED IN THE COLUMN

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361 Manish Chauhan October 2, 2012 at 2:23 pm

Its equal to you , if your contribution is 12% or less of your basic salary

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362 ANAND METRANI October 1, 2012 at 12:06 pm

Hi Manish Sir,

I have worked for icici bank for 2 1/2 years thn i left the job in the year 2010 but still now i have not withdrawn my Pf i actually dont even no my PF num i just have my employee code with me, can ypu please help me out by advising me..

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363 Manish Chauhan October 2, 2012 at 2:08 pm

You should have the PF number on your salary slips , do you have them ?

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364 Rahul October 1, 2012 at 9:03 pm

Dear Manish Ji,

I have transferred EPF from my last company (Company A) to my new company (Company B). I worked for around 30 months in company A

My monthly deductions for EPF in Company A were as under
13.25 months – 2500/- per month (24th Nov’08 to 30th Dec’09)
12 months – 2750/- per month (1st Jan’10 to 30th Dec’10)
4.5 months – 3060/- per month (1st Jan’11 to 15th May’11)

Its been almost 1.5 years since i am in Company B. i left company A in May 2011
My Pf has been transferred from Company A to Company B. the amount transferred is 174,014/- . How this calculation has been done ?

According to my calculations, at an average interest of 8.5% per annum, the amount should have been in access of 200,000. I doubt employer contribution towards pension has not been transferred here.. but i am not sure about this

Please tell me how this amount of 174,000 has been arrived at ?

Reply

365 Manish Chauhan October 2, 2012 at 1:04 pm

Rahul

Yes, thats a possibility , did you fill form 13 while leaving ! .. I suggest you better file RTI and get your information – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

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366 NISHA October 2, 2012 at 1:26 am

Is it possible for an employee to opt for EPF without him contributing towards it and only the employer making the contribution? As far as i’ve studied, there is no such provision but is there any way? Kindly let me know asap.

Regards
Nisha

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367 Manish Chauhan October 2, 2012 at 12:56 pm

No , there is nothing like that

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368 C Raghu October 2, 2012 at 7:22 am

Dear Manishji,

I am working in pvt Ltd. company.My Basic Salary is Rs.5000/=Every month Rs.600/= deducted from my Salary for Pf contibution.This amount is constant Last 8 years.I got my e passbook. In that 13 month entries missing (fromAprill 2011 toApril 20012) after May and June 2012 entries there in e passbook.and again July,August,September 2012 entries not there. Is there any time limit to pay the dues ,if not paid by the employer/consultant

Please Help..
Where I can approch to correct this. Employer, Pf consultant or Pf office.Please suggest.

Reply

369 Manish Chauhan October 2, 2012 at 12:54 pm

I suggest filing a RTI query to know the answer to your queries, only EPF department can give the exact status – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

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370 sampath October 3, 2012 at 4:14 pm

Dear Manish,

I wanted to confirm that if aperson opts for vrs at the age of 57, and if his EPF a/c Balance show as EE amt:1123569/- and ER amt: Rs.942019/-. how much amount will a person get from EPF balance available as shown above. which all forms needs to be submitted to EPF for claim of EPF amt …… also there is difference in the EE and ER balance? is the difference the corpus fund of EPS scheme? Also when the pension form to be filled? would be thankful to you if you could clarify the same.

Reply

371 Manish Chauhan October 4, 2012 at 6:18 pm

Those EE and ER are your and your employer contribution, you will get the TOTAL . The forms needed to be filled in will be given to you by company , dont worry on that

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372 Abhijit Kamat October 5, 2012 at 5:10 pm

Manish ….. a big thanks to you for posting the clarification on EPF & EPS.
Great work by you for people like us.

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373 Manish Chauhan October 9, 2012 at 11:04 am

Thanks Abhijit !

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374 satish prasad October 6, 2012 at 8:48 am

Dear Manish,

i had only worked with one of the company for 9 months & there used to be deduction of 800 per month from my salary & same amount employer used to submit , Now its been more than one year & i have not applied for PF, so till what time i will be getting interest as well as how much % of interest i will get.

waiting for your reply on this please :—

Regards,
Satish Prasad

Reply

375 Manish Chauhan October 9, 2012 at 10:36 am

You will get for 3 yrs from the date of inactivity (when you left the job)

Reply

376 PINTU AGARWAL October 6, 2012 at 11:44 pm

Hi manish,
In point no 4 u have given below mentioned example.
Imagine your contribution + employer contribution has been total Rs 3,50,000 till date. Out of this 3,50,000 , suppose 2,50,000 has gone in EPF , and rest 1,00,000 has gone in EPS (for pension) . Now if you quit your job in 6th year of employment and opt for withdrawal of your EPF money (EPF + EPS actually) , then do you think you will get total 3,50,000 . NO !

Thats because you always get 100% of your EPF part, but for EPS there is separate rule . There is something called Table ‘D’ , under which its mentioned how much you get at the time of exit from your job, there is a slab for each completed year and you get n times of your last drawn salary (depending on the completed year of service) subject to maximum to Rs 6,500 per month. So if your salary in this case was Rs 30,000 per month, still you will be given only 6,500 * 6.40 = Rs 41,600.

No way after quitting your job in 6th year u can have 1 lakh rupee in your EPS A/C.Since maximum contribution in EPS A/C could be 541 in a month.
In six year maximum balance in your EPS A/C Cud be 541*12*6=38952.
No way yr EPS on withdrawal cud be lesser than yr actual EPS balance even if we follow column D.Pls recheck it.

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377 Manish Chauhan October 9, 2012 at 10:25 am

It was just an example !

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378 Bhola Kumar October 28, 2012 at 12:06 pm

541 is the minimum amount For EPS……….

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379 Nishant October 10, 2012 at 4:20 pm

9 years in same company!! Seems difficult :)
Anyways, hi Manish this is Nishant.
First of all great work in sharing the 10 hidden facts and actively answering all the questions.
I have 1 question, I have worked for 4 companies and I have withdrawn the PF of 3 companies. This is my 5th company and I got a new PF number. So can I claim the pension amount of any of the 3 PF accounts after attaining age of 58 or its permanently lapsed after withdrawing EPF?

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380 Manish Chauhan October 12, 2012 at 12:13 pm

Obviosuly its lapsed now , the money is not there in those account and are closed :)

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381 Nishant October 12, 2012 at 4:47 pm

Thanks for the reply.

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382 Piyush Patwari October 11, 2012 at 8:56 am

Hi Manish,
After how much time i can withdraw my EPF?

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383 Manish Chauhan October 12, 2012 at 11:23 am

At the time of leaving the job only

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384 Deepak Yadav October 12, 2012 at 6:13 pm

Hi Manish

I have submitted Form 13 for my fund transfer, I have received the amount from my old PF number to new PF number. But only EE and ER amount is transfered.

Why EPS amount is not transferred to my new PF account.

thanks

deepak

Reply

385 Manish Chauhan October 16, 2012 at 2:55 pm

EPS is there in EE and ER

Reply

386 Maria Louis October 13, 2012 at 1:25 pm

Very useful information about EPF & EPS

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387 Maria Louis October 13, 2012 at 3:19 pm

Some of our new teachers were struggling to understasnd the details given in the EPF slip. Your article throws clarity on that. Especially the diagram has been very useful.

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388 Sonali October 14, 2012 at 12:08 pm

Hi Manish,

Thank you so much for such an informative article. This really cleared a lot of doubts i had initially. Still though I have some more queries, kindly answer them as well :).
1. My 1st employment was for less than 6 months and then I joined another company. Will I be still eligible for PF withdrawal from the 1st company?

2. If I withdraw the pf money for a medical emergency, will that be taxable too if my last employment was for less than 5 years? On whose account/name the money would be given (the hospital or myself)?

3. In case I want to withdraw the entire PF, do I have to fill any extra form other than form 10 to get the EPS or it is included when you withdraw the pf?

Thanks again for the article.

Reply

389 Manish Chauhan October 16, 2012 at 2:16 pm

1. Yes
2. I am not sure if you can do that , but it should be taxable
3. No , there is form 19 for that

Reply

390 Sonali October 30, 2012 at 10:11 pm

Thanks Manish for the answers. Waiting for your article on how to withdraw PF without involving the concerned previous employer.

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391 Manish Chauhan November 2, 2012 at 11:42 am

Yes, very soon I will write on that

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392 Naveen October 15, 2012 at 3:30 pm

Dear Manish,

Thansk for such a valuable article.

Please advice on my case.

I have joined worked in Company A for 4 Years and 11 Months. Now i have switch to company B (2 months back) . Please advice if i withdrwal (after 5 Years 1 Months total)my PF then it will be taxable or not.

I am under 30% Tax Slab.

Reply

393 Manish Chauhan October 16, 2012 at 1:54 pm

No it will not be taxable

Reply

394 Uday Kiran October 16, 2012 at 10:10 pm

Hi,

I moved to US and I have PF amount in INDIA and what is the best option for me to make it tax free. I had requested for withdrawal from company private PF trust, if I park that money in Bank FD, I will have to pay tax on the interest, is there any other
option for me to put in another PPF account.

Thanks & Regards,
Uday Kiran

Reply

395 Manish Chauhan October 19, 2012 at 10:01 am

You can get it tax free only after 5 yrs of EPF complete . You can put it in PPF only if you have opened it already

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396 Sumit Mishra October 18, 2012 at 8:58 pm

Hi Manish,

I left my job 5 months ago. I am going to join a new company next month. i want to know how can my EPF balance be transferred to new employer’s EPF a/c?

Reply

397 Manish Chauhan October 19, 2012 at 8:41 am

You have to fill up form 19 for that

Reply

398 S. Jayaraj Maria Louis October 18, 2012 at 9:54 pm

We have a new teacher. He had been teaching in some other school earlier. How to make sure that the epf from our school is a continuation of his old account?

Thanking you

S. Jayaraj Maria Louis

Reply

399 Manish Chauhan October 19, 2012 at 8:40 am

That can not happen . Your school has to open a new EPF account and he will have to migrate old EPF to new one .

Reply

400 Kothapalli October 21, 2012 at 5:55 am

Hi Manish,

Seriously I was suprised & happy to see this artical.

In deed I was in need of point 9 event5 (5. Construction or purchase of house or flat/site or plot for self or spouse or joint ownership)
I have just completed 5 years in my current organization(still working) I have a plan to buy a flat/Independent house. My current CTC is 6.6L. Could you please let me know the eligible amount can be withdrawn and the procedure to withdraw.

Reply

401 Manish Chauhan October 22, 2012 at 9:52 am

The procedure part you will have to find yourself or ask on our forum – http://www.jagoinvestor.com/forum/ .

Reply

402 Bahubali October 22, 2012 at 4:59 pm

When I checked the EPF balance, it reported :

“Your Account has been marked as In-operative Account. For details please contact respective EPF Office”

So how to withdraw the EPF Amount in this case of In-operative Account ?
What is the procedure to be followed to withdraw the EPF Amount from the In-Operative Account ?

Reply

403 Manish Chauhan October 22, 2012 at 5:17 pm

If its inoperative, you can always withdraw it just like you you withdraw an active account.

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404 Bahubali October 23, 2012 at 10:23 am

Thanks Manish .!

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405 Arun October 23, 2012 at 3:02 pm

Whats is EE and ER which shows in SMS from EPF site. my service is 7 years (2 companies and transfered my previous balance to new one). if i leave this job and apply for withdraw do i get all listed in EE/ER amount. I hope EPS amount is not shown in the SMS or stament which they provide every year.

Reply

406 Manish Chauhan October 24, 2012 at 8:46 pm

EE means employer contribution and ER means Employer contribution , both are yours only

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407 pranav singh October 24, 2012 at 12:51 am

Hi Manish,

Thanks for the post. I had a query.

I have left my job at firm B (say) to pursue higher studies. Before B, I working with firm A and my combined years of service at B and A is more than 5 years.
a) Is it that I need to get PF transferred from A to B to make withdrawal of PF tax exempt? Or is it that I can reclaim the TDS deducted on the withdrawal while filing my returns?
Also, my request to transfer PF from A to B was somehow rejected earlier.
b) Can I fill up form 13 at company B (last employer) now to get PF transferred from company A, considering that I am not working with company B anymore. (After quitting B, I am pursuing higher studies.)

Thanks and best regards

Reply

408 Manish Chauhan October 24, 2012 at 8:25 pm

Your company A PF is anyways exempt from tax, because that particular PF has crossed 5 yr of service, so you can apply for its withdrawal now .

Reply

409 pranav singh October 25, 2012 at 1:08 am

Hi Amit,

Thanks for the response. I read at some place that it should be five years of uninterrupted service and hence if I do not transfer the PF to Company B, even my company A pf becomes taxable. Is this correct? I am facing a lot of problems in getting PF transferred. Even if company A PF is not taxable, I would rather withdraw all my PF than wait for transfer, etc.

Thanks and best regards,

Reply

410 Manish Chauhan October 25, 2012 at 8:45 am

Yes, from what I know its not the uninterruppted service, just the EPF account has to be 5 yrs old .

Manish

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411 sanjiv kumar October 25, 2012 at 8:33 pm

I have a question:

I worked in previous company for 4.5 yrs and left the company in April 2010. Before I withdrew the PF amount in oct’2012, I checked the Balance status on the EPF official website and it was showing as Employee Amount: 46000 and Employer Amount: 13000, so I received the amount Rs. 59000.

1. Can you please tell me why there is so much of difference in employee amount and employer’s?
2. How they might have been calculated it?

3. Did they also deduct tax out of it?

Thanks in advance
Sanjiv

Reply

412 Manish Chauhan October 27, 2012 at 11:54 am

Its different because the employer contribution also goes into EPS

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413 Prince October 26, 2012 at 11:33 am

Hi!
Can someone please help me out. I resigned last year in august so that i can complete my studies but i did not claim my pf on the pf website it says no info under my pf no. I am afraid is my money safe or is it there with them because i need it now but problem is website says no info.Please suggest.
Thanks
Prince

Reply

414 Manish Chauhan October 27, 2012 at 11:51 am

Your money is safe, just that it will not be that easy and smooth to take it back :) , file an RTI !

Reply

415 Bhola Kumar October 28, 2012 at 11:29 am

Some my my friends EPS contribution is actually 8.33% of Basic+ DA which is arround 3500 per month. So is he at loss as he will not get the interest on EPS.
My contribution on EPS is 541 only.Please spread some light on pension diffrence betwwen me and my friend after retirement.

Reply

416 Manish Chauhan October 30, 2012 at 11:20 am

NO one gets interest on EPS, its given differently , see the article

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417 Bhola Kumar October 30, 2012 at 2:48 pm

what will be the difference in pension between me and my friend?

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418 Manish Chauhan November 2, 2012 at 11:57 am

Yes, yours will be much better than them .

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419 Bhola Kumar November 2, 2012 at 3:00 pm

How will my pension larger than my friend since his contribution to EPS is larger than mine?

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420 Manish Chauhan November 2, 2012 at 3:51 pm

I meant the other way round

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421 Punit Kumar October 28, 2012 at 6:32 pm

Hi Manish, Thanks for lovely article, i want to ask can someone submit the PF withdrawal form at any of its office or only at relevant office?

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422 Manish Chauhan October 30, 2012 at 10:53 am

You have to fill up and send it to your EPF jurisdiction office, not any !

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423 saetu October 29, 2012 at 11:36 am

Hi

I finished 9 yrs and 6 months. When i widthdraw do i get full amount or without eps?

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424 Manish Chauhan October 30, 2012 at 10:31 am

You will get full amount .

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425 Umesh October 29, 2012 at 10:07 pm

Very useful information. Thanks.

Regards

Umesh Patel

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426 Manish Chauhan October 30, 2012 at 9:58 am

Thanks Umesh !

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427 dolly October 30, 2012 at 12:30 pm

Hi Manish,
In the article, “10 hidden facts about EPF”, it is mentioned, “you always get 100% of your EPF part, but for EPS there is separate rule. T here is something called Table ‘D’ , under which its mentioned how much you get at the time of exit from your job, there is a slab for each completed year and you get n times of your last drawn salary (depending on the completed year of service) subject to maximum to Rs 6,500 per month. So if your salary in this case was Rs 30,000 per month, still you will be given only 6,500 * 6.40 = Rs 41,600.”
I spoke to my company HR department and have also check the Employee Pension Scheme, 1995 Act. The below table shows the withdrawal benefit which an employee will get if he withdraws his EPS amount (within 06 months to 09 years). According to me, the table shows the “withdrawal benefit” which an employee will get if he withdraws within 06 months to 09 years. For instance: I am investing Rs. 541 per month for 5 years. So at the end of 5 years, if I withdraw from my EPS I would get Rs. 32460 (Rs. 541 * 60 months) + Rs. 1629 (Rs. 32460 8 5.02%). I may be wrong. Just clarifying my doubt. Please guide me.
Also check, http://www.epfindia.com/Circulars/EPS95_update102008.pdf
“14. Benefits on leaving service before being eligible for monthly members pension.
(1) If a member has not rendered the eligible service prescribed in paragraph 27[9] on the date of exit, or on attaining 58 years of age whichever is earlier, he/she shall be entitled to a withdrawal benefit as laid down in Table ‘D’..”
54[TABLE D
(See Paragraph 14)
Return of contribution on exit from the employment
Year of Service Proportion of wages at exit
1 1.02
2 1.99
3 2.98
4 3.99
5 5.02
6 6.07
7 7.13
8 8.22
9 9.33
Note : The above table is based on a flat addition in benefit.

Reply

428 Kothapalli October 30, 2012 at 1:30 pm

Hi Manish,

Seriously I was suprised & happy to see this artical.

In deed I was in need of point 9 event5 (5. Construction or purchase of house or flat/site or plot for self or spouse or joint ownership)
I have just completed 5 years in my current organization(still working) I have a plan to buy a flat/Independent house. My current CTC is 6.6L. Could you please let me know the eligible amount can be withdrawn and the procedure to withdraw.

Regards, Kotha

Reply

429 Manish Chauhan November 2, 2012 at 12:54 pm

Its already mentioned in the article

Reply

430 Jay October 30, 2012 at 1:49 pm

Hi Manish,

Good article, thanks for writing. I have a question. It is mentioned in the PF act that one can take 36 times his monthly salary as loan towards constructing a house. Let’s say if my salary is 70,000 per month, does it mean that I am entitled to avail loan of 36*70000=25,20,000 !!!

Reply

431 Manish Chauhan November 2, 2012 at 12:54 pm

That would be mostly the basic salary ! and higher limit will obviously be your PF amount till date !

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432 Suresh October 30, 2012 at 6:00 pm

Hi Manish,

Thanks for the very informative article. Can we withdraw the PF for a recently purchased flat? Basically, bank provides 80-85% for loan. To make the amount for the rest, can we withdraw the PF. Can we apply for withdrawal after the purchase is made? Kindly clarify.

Thanks,
Suresh

Reply

433 Manish Chauhan November 2, 2012 at 11:48 am

Suresh

I think you cant withdraw if you have not completed 5 yrs in service .

Reply

434 Suresh November 2, 2012 at 11:54 am

Hi Manish,

Thanks for your reply. I have completed 5 years in service. But the question is if we can withdraw for a recently purchased flat. “For the purchase” statement in withdrawal guidelines – does it apply for “to be purchased” only or does it apply for “recently purchased” also? Kindly clarify.

Thanks,
Suresh

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435 Manish Chauhan November 2, 2012 at 12:37 pm

I think it will make payment for your to be purchased flat , now as you have already purchased flat , then the actual need is not “for the house” .

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436 dolly October 31, 2012 at 10:28 am

The below table D shows the “withdrawal benefit” which an employee will get if he withdraws his EPS amount (within 06 months to 09 years).

http://www.on-lyne.info/legal3.htm

For service below 10 years Return of contribution on exit from employment – Table – D
Example : Suppose a member exits from employment after four years of service his wage on exit is Rs. 4,000, (Return of contribution will be calculated as Rs. 4,000 x 4.18 of wages on exit) i.e., Rs. 16,720/-

Also check, http://www.epfindia.com/Circulars/EPS95_update102008.pdf
“14. Benefits on leaving service before being eligible for monthly members pension.
(1) If a member has not rendered the eligible service prescribed in paragraph 27[9] on the date of exit, or on attaining 58 years of age whichever is earlier, he/she shall be entitled to a withdrawal benefit as laid down in Table ‘D’..”
54[TABLE D
(See Paragraph 14)
Return of contribution on exit from the employment
Year of Service Proportion of wages at exit
1 1.02
2 1.99
3 2.98
4 3.99
5 5.02
6 6.07
7 7.13
8 8.22
9 9.33
Note : The above table is based on a flat addition in benefit.

Reply

437 Manish Chauhan November 2, 2012 at 11:34 am

Dolly

What is the conclusion at the end ? What are you trying to say ?

Reply

438 dolly November 2, 2012 at 11:38 am

hi Manish, if u withdraw ur EPS before 10 years, you get “withdrawal benefit” on the accumulated amount. For EPS, if the service period is less than 10 years, you’ve an option to either withdraw your corpus or get it transferred by obtaining a ‘scheme certificate’, if there is a break in service. This way the number of years of service that you have put in gets transferred to the new account that you open in the new organisation.
For service below 10 years, you usually get 100% of your EPF & EPS amount invested. In case of EPF, you get the accumulated amount plus the interest (which is 8.6% for FY12-13). For EPS, you get your EPS amount invested over the years and the “withdrawal benefit”. The below table D shows the “withdrawal benefit” which an employee will get if he withdraws his EPS amount (from six months to nine years).

EPS withdrawal benefit

Return of contribution on exit from the employment
Year of service Proportion of wages at exit
1 1.02
2 1.99
3 2.98
4 3.99
5 5.02
6 6.07
7 7.13
8 8.22
9 9.33
Note: The above table is based on a flat addition in benefit.

For instance: An employee exits from employment after four years of service his wage on exit is Rs. 5,000, (Return of contribution will be Rs. 5,000 x 3.99 of wages on exit) i.e., Rs.19,950. Once, an employee’s service period crosses 10 years, the withdrawal option ceases.
Abhishek Bade, assistant manager-human resource department, India Infoline, explains, “To withdraw from EPS, an employee needs to contribute at least for six months. He has to fill Form No. 10 C (E.P.S) to claim withdrawal benefit. However, if the employee completes 10 years of the service, the withdrawal option ends. Thus, after 10 years of completion of the service, the employee cannot withdraw from his EPS.”

Reply

439 Manish Chauhan November 2, 2012 at 12:51 pm

Ok now I get it , So what you are saying is that this “withdrawal benefit” is an extra money which he gets over and above the actual EPS contribution ?

So if a person has contributed say Rs 50,000 in his EPS and as per the chart the withdrawal benefit is Rs 15,000 . So if he withdraws his EPS before 10 yrs, he will get 65,000 in total . In my article I mention that he will just get 15,000 which is incorrect .

Right ?

Reply

440 dolly November 2, 2012 at 1:11 pm

Yes, “withdrawal benefit” is an extra money which the member gets over and above the actual EPS contribution. in your calculation you have not mentioned in which year the member is withdrawing so i wont be able to say if the calculation is correct.

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441 Manish Chauhan November 2, 2012 at 1:49 pm

Ok great .. let me change that in my article

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442 sai November 1, 2012 at 7:39 pm

Manish,

thanks for nice article. I had worked in a IT company , Bangalore for 3.8 years. There i have the same number for EPF and EPS. Now i’m working for a different company, but i’m not yet transferred my previous company PF amount.

I want to know what are all the forms do i need to fill to transfer my EPF and EPS to my new company PF account?

Thanks,
Sai, Bangalore

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443 Manish Chauhan November 2, 2012 at 11:06 am

You should check Form 10,13 and 19 for all this .

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444 Joseph November 2, 2012 at 12:37 pm

great article… keep posting ..Superb !!

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445 Manish Chauhan November 2, 2012 at 12:51 pm

Thanks Joseph

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446 Praveen November 3, 2012 at 2:33 pm

Hi Manish,

I was TCS employee and now i want to withdraw my PPF money. I have read somewhere that TCS have its own PPF trust but some articles on the internet says even if the company has its own trust then also it is handled by EPFO office. Is it so ? Even I am not able to fetch my details from EPFO website. It says Invalid data entered. Can EPFO do something about this ?

Reply

447 Manish Chauhan November 6, 2012 at 4:46 pm

You mean EPF and not PPF !

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448 Praveen November 7, 2012 at 12:09 am

Yes EPF ……

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449 Manish Chauhan November 12, 2012 at 9:22 am

In that case you can still complain with EPFO on this

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450 Sandeep Jain November 3, 2012 at 7:19 pm

Hi,

I had left my job within 6 months. I had applied for Withdrawal of the PF amount. But now EPFO says that since i have not completed 6 months service i am not eligible for withdrawal…

Reply

451 Manish Chauhan November 6, 2012 at 4:41 pm

EPFO says that or the company ?

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452 Sandeep Jain November 6, 2012 at 5:32 pm

i got a letter from EPFO Stating this ” In r/o F. 10c Service Less than 6 months. So not eligible for Withdrawal Benefit”….. I am not able to upload the image of the letter in this forum…..

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453 Manish Chauhan November 12, 2012 at 9:27 am

You cant withdraw if your tenure has been less than 6 months !

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454 dolly November 5, 2012 at 10:03 am

Hi Manish, with regard to “Point 6: Withdrawing of EPF amount at job change is illegal”. Withdrawal from the EPF is allowed based on certain terms and conditions. Please read http://www.epfindia.com/EPFScheme.pdf
Withdrawal from the Fund for the purchase of a dwelling house/flat or for the construction of a dwelling house including the acquisition of a suitable site for the purpose

Reply

455 Manish Chauhan November 6, 2012 at 3:24 pm

Yes, I was talking about the full and final withdrawal without a reason .

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456 Kumar November 5, 2012 at 3:23 pm

Hi Manish,

Good article and have a small doubt on EPF.
My current organization is a Public limited company and as a part of PF, both the contributions (Employee and Employer) are deducted from our salary only.

If we withdraw or close our PF a/c will all the amount+interest be credited or any deductions will be there?

Regards,
Kumar

Reply

457 Manish Chauhan November 6, 2012 at 3:17 pm

NO deductions .. just that if you do it within 5yrs , then tax will be there .

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458 kim November 5, 2012 at 11:06 pm

Hi,
I like your article.. It is very useful.. I have a question. I got absconded from company. I came to out of India. When I will join any company in future, can I use the same PF account to continue?
If not how can I get my PF amount?
Thank you in advance..

Reply

459 Manish Chauhan November 6, 2012 at 2:55 pm

You cant use the same one . You will either have to withdraw the money from it or transfer it to new EPF account

Reply

460 kim November 9, 2012 at 12:15 am

Thank you Manish, but to withdraw the money do I have to contact my company?
In my case will company respond me?

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461 Manish Chauhan November 12, 2012 at 8:28 am

Check that, if they do not respond or co-operate, there is a way you can withdraw the money without their help !

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462 kim November 13, 2012 at 3:02 am

thank you Manish..
Wish you and your family a happy Diwali..

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463 Manish Chauhan November 15, 2012 at 7:46 pm

Same to you :)

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464 Shinto Chacko November 6, 2012 at 1:37 am

Hi Manish,
My name is Shinto Chacko, i submitted PF withdrawel forms through my last employer and i received some amount of money. Now the issue is look like i receive very less amount of money, because i have total of 7 years of experience (2 year with company Patni from 2005-2007 and 5 year with other company 2007-2012). The amount i received is 32000 only. If i just calculating my contribution itself it will go beyond that –
1). 500 * 24 = 12000
2). 700 * 60 = 42000 – total minimum approx – 54000

can you please help me why i received only this much amount at time of withdrawel(32k). While i was checking the PF site for status it says it is settled.

Qn – Can i expect one more diposit to my account for the remining money or this is the only amount i am going to receive. ?

Appreciated your response – Thank you.
Shinto

Reply

465 Manish Chauhan November 6, 2012 at 2:54 pm

Did you transfer your old EPF account to new one ?

Reply

466 Shinto Chacko November 6, 2012 at 10:21 pm

Yes, i filled the application to transfer the PF at the time of joining the second company.
But even the first company is not included(first 2 years ), the second company PF amount should be more that this 32k (5 year above Rs. 700 every month my contribution)

Shinto

Reply

467 Manish Chauhan November 12, 2012 at 9:22 am

Has the transfer happened ?

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468 Imran November 7, 2012 at 4:38 pm

Thanks for the article Manish. It is actually very useful.
I have a query about the 4th Point: “You might not get 100% of your EPF money.” In the example that you have given you have mentioned that if the total PF accumulated in Rs 3,50,000 till date and out of this Rs 2,50,000 is EPF and the remaining Rs 1,00,000 is EPS. I do understand that some percentage will be deducted from the EPS amount but what about the interest earned on the Rs 2,50,000? Wouldn’t this interest amount be added and given to the claimant? And shouldn’t this added interest bring the total amount back to Rs 3,50,000 or may be more?
Can you pls reply on this

Reply

469 Manish Chauhan November 12, 2012 at 8:55 am

I have considered 250000 with interest, you will get all the interest on the EPF

Reply

470 HARENDRA SINGH RATHORE November 9, 2012 at 8:58 am

hello sir,
I applied for PF some 1 year ago.
Sir i have worked for 6 months so in this case am i eligible to get PF and if yes than how much. I have registered many complaints in PF office and they have not replied me properly.My claim status shows that Form 19 b is passed and payment would be made soon and form 10 c is rejected on the account of services less than 6 months. What should i do in this condition please suugest

Claim ID : PUPUN120100038467
Status : Claim Form 10C for Withdrawal Benefit AGAINST Member Account No (PUPUN01206950000006970) has been rejected. Rejection letter is under dispatch/ dispatched to address in your claim

Claim ID : PUPUN120100038461
Status : Claim Form 19 for PF Settlement AGAINST Member Account No (PUPUN01206950000006970) has been approved. Payment is under process.

Reply

471 Manish Chauhan November 12, 2012 at 8:27 am
472 Ashish November 9, 2012 at 2:10 pm

I am currently un-employed and its been more than 6 months since my last employment. Can I withdraw my money without needing the involvement of my past employer or the withdrawal form can be submitted only by the employer and not a employee?

Reply

473 Manish Chauhan November 12, 2012 at 7:43 am

Ashish you can withdraw the EPF without your past employer help , i am doing an article in 1 month on this .

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474 Ashish November 14, 2012 at 11:26 pm

Thanks a lot Manish for your instant reply.

Can you provide some more detailed information on how exactly can that be done..?

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475 Manish Chauhan November 15, 2012 at 7:23 pm

That article is coming in few days !

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476 Seenivasan.K November 10, 2012 at 8:32 am

Dear Sir,
I have small doubt regarding EPS part in your article.
You have mentioned in second point that (The 12% contribution from your side goes to EPF, but the 12% contribution which your employer makes, out of that 8.33% actually goes in EPS (subject to maximum of Rs 541) and the rest goes into EPF)

but third point saying that ( The EPS part (8.33% out of 12% contribution from your employer or Rs 541 what ever is minimum) does not get any interest.)
541 is maximum or minimum amount towards EPS.

Reply

477 Manish Chauhan November 12, 2012 at 7:36 am

Its maximum . But even the both the cases you mentioned are same , leading to “maximum”. think about it, take some numbers as examples

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478 NARESH CHANDRA November 10, 2012 at 2:06 pm

NICE AND VERY USEFUL INFORMATION.

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479 Manish Chauhan November 12, 2012 at 7:33 am

Thanks Naresh

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480 Babu November 12, 2012 at 2:48 pm

For loans, Purchase of Plot and again construction of house both are possible seperately?

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481 Manish Chauhan November 15, 2012 at 7:52 pm

I think it will be tough !

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482 Pooja November 16, 2012 at 5:11 pm

So if you withdraw within a year after quitting then you get very little of the EPS. What happens to the remaining EPS? do u get it after 58?

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483 Manish Chauhan November 20, 2012 at 4:31 pm

You get all the EPS !

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484 Partha Dev November 20, 2012 at 12:37 pm

My wife passed away ten years before leaving her daughter. She was a PSU employee. As per rule we got family pension. Three years back I re-marriaged. From the I did not submitted yearly life Certificate for me but for my daughter. Daughter’s family pension continued.

Question
1. Though I have informed them about re-marriage what I have do any more formalities ?

2. May I get some claim from them ? Is there any due ?

3. What I have to do with my Pension Account ?

Reply

485 Manish Chauhan November 20, 2012 at 2:00 pm

This is something needs to be discussed at our forum – http://www.jagoinvestor.com/forum/

Reply

486 himanshu Gupta November 20, 2012 at 6:49 pm

Hi Manish,

I have send request for transfer of my EPF and EPS balance from previous employer to current. EPF amount was transferred in my account with Interest but EPS amount is not showing in my E passbook.
What is remedies for that and what is next step for me.
Thanks in advance
Regards,
Himanshu Gupta

Reply

487 Manish Chauhan November 25, 2012 at 12:17 pm

file a RTI to find out exactly what happened !

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488 prabu November 21, 2012 at 7:43 pm

Hi Manish,

I really appreciate your Excellent Effort for posting this article and addressing our queries.. keep up the good work.

Pls assist me with the below queries.

1) I Want a PF Contribution Statement(Monthly) from the year 2007 to 2011? from 2 different employers? how can i get it and whom to contact?

2) Recently i have transferred PF money from the previous employer to the present employer, PF online balance says the money has been transferred to the present employer on 15-mar-2012 but my EPFO account statement has no entry, even the balance is not reflecting the transfer amount. what should be the next step?

Thanks in advance.

– Prabu

Reply

489 Manish Chauhan November 25, 2012 at 11:40 am

I think the answer now is “file a RTI to find out more”

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490 venkatesh November 22, 2012 at 3:05 pm

Hi Manish,

I have completed 5 years in my current organisation and now i’am eligible for partial withdrawal of my PF under the option “Withdrawal to finance members life insurance policies”. Can i show the new insurance policy that i will be receiving using the withdrawal money as a tax exemption for my income.

Thanks in advance,
Venkatesh

Reply

491 Manish Chauhan November 25, 2012 at 11:25 am

I am not clear about it . Can you explain more , buying a life insurance policy is any way exempted , right !

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492 vinod November 27, 2012 at 2:29 pm

What if an employee has gone on site and has not contributed to Pf for more than 3 years.- Eg Sabtical

what if an employee is on a medical leave

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493 Manish Chauhan November 30, 2012 at 12:59 pm

Vinod

that does not change much

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494 vinod November 30, 2012 at 2:16 pm

My query was what is the impact of interest for provident fund, will the employee get Interest on provident Fund if he is on medical leave or employee has on Sabbatical leave

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495 Manish Chauhan November 30, 2012 at 2:57 pm

Yes, the interest will keep on accruing for 3 yrs , after which it will become inactive

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496 vinod November 30, 2012 at 3:11 pm

but we feel that interest has to be provided as the employee has not made any application under para 69 or 70 of the act. As the reading goes for incertion of the clause in para 60

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497 Manish Chauhan November 30, 2012 at 3:26 pm

Not aware of these acts !

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498 Abhijeet November 28, 2012 at 3:10 pm

Hi Manish,
My account No. is MH/35004/147. My Job period is 7 years 3 months. when I leave the job my basic salary is Rs. 7700 and PF amount is Rs. 780, so what is my total PF amount?

Reply

499 Manish Chauhan November 30, 2012 at 12:15 pm

You can get this info only from EPFO , I would recommend filing an RTI for this !

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500 Josina November 29, 2012 at 6:02 pm

Hi Manish,
I was employed with my previous company for 9 years and 2 months and still the PF office has declined my Form 10 C. no letters issued to me yet.. but they say I need to provide a new form with the Nominee’s Date of birth proof and that I will have to compulsorily take a Scheme Certificate.. I do not want the Pension scheme.

Date of Joining : 2 May 2002
Date of Leaving : 24 July 2011
Reason for Leaving : Maternity complications.

I got employed with new Company in 2012.
Please help.
Regards,
Josina
I have already Withdrawn my EPF.

Reply

501 Manish Chauhan November 30, 2012 at 10:53 am

I think you need to now go ahead with the RTI , only with RTI you will be able to get right answers for your query !

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502 Josina December 5, 2012 at 11:53 am

Thanks.. but How do I file a RTI ? Where must I approach..
regards,
Josina.

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503 Manish Chauhan December 11, 2012 at 4:07 pm
504 Prabhu November 30, 2012 at 11:47 am

Hi, Manish,
Is EDLI scheme is a death benifit? Does it covers disability? Is this schem is applicable to pensioners? Please reply

Prabhu

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505 Manish Chauhan November 30, 2012 at 11:49 am

Its mostly a death benefit , but it will be applicable only if your employer has choosen it , most of the companies which offer health insurance, do not have it .

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506 R K December 3, 2012 at 8:43 pm

Taking the option to opt out of EPF scheme through “form 11” the onus in case of any mishap lies with Employer or the employee who signes declaration

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507 Manish Chauhan December 11, 2012 at 4:32 pm

It lies with Employee !

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508 anjan December 4, 2012 at 12:58 pm

hi manish,, i worked in organisation for 4 months and in full and final settelment my contribution in EPF is 6 month,, after leaving this job i join a private sector where no provision available for EPF,, so my question is can i able withdraw my six month contribution .

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509 Manish Chauhan December 5, 2012 at 12:15 am

yes you can do tht

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510 Amjad pasha December 5, 2012 at 4:23 pm

Dear Manish,

I was working in a pvt ltd co from Sep 2009 to Dec 2010 . I do not have any payslips wherein my EPF account no. was mentioned. There was PF deduction and remittance as well. How do I get the PF money transferred to my current employer. Please advice.

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511 Manish Chauhan December 11, 2012 at 3:57 pm

You will have to file a RTI to EPFO mentioning your past employer name , they should be able to help you in getting the EPF number !

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512 divya December 7, 2012 at 10:57 am

awesome work manish…for a dumb like me…it was a cakewalk…to understand the nuances. Just wanted to know, how long does it take for the pf to be deposited in the bank. I had received a message from the epfo saying that the forms are under process last week.

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513 Manish Chauhan December 11, 2012 at 3:35 pm

Divya

Actually it should take just few months, but most of the times it takes a lot of months or sometimes even a year ! . Use RTI to find out the status – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

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514 Vishwanath December 7, 2012 at 11:09 am

Manish,
Very informative & helpful. Thanks for your efforts in sharing this article.

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515 Manish Chauhan December 11, 2012 at 3:34 pm

Thanks Vishwanath !

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516 rajesh December 11, 2012 at 1:58 am

manish ,Thanks a lot for the valuable information .

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517 Manish Chauhan December 11, 2012 at 2:41 pm

Welcome :) . Can you share your biggest learning ?

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518 PANKAJ December 11, 2012 at 5:21 pm

It’s really very informative..
Just want to know about.. how monthly pension amount is calculated… is there any minimum monthly pension amount (jsut as there is cap on max pension of Rs.3250/- per month)..

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519 Manish Chauhan December 19, 2012 at 5:25 pm

That is discussion by someone on comments section

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520 Mohan kumar k December 11, 2012 at 9:30 pm

Hi Manish,
My account No. is PY/BOM/0023073/000/2036 I can’t download e passbook i Register MEMBER PORTAL same process but when i login i enter all details like Establishment code. Extension. Account number &characters but when i click get pin then show You have entered invalid Member ID please help me

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521 Manish Chauhan December 19, 2012 at 5:05 pm

You should not use RTI to get the status of your EPF

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522 Anupam December 13, 2012 at 9:53 am

Manish,
if i withdraw now (quit my job 2 months back and not working currently. so legally correct), what will happen to the FY12-13 interest ?

i am assuming it will still be paid-out separately whenever the FY12-13 interest rates get finalized and the same gets credited to all other active account holders.
correct ?

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523 Manish Chauhan December 19, 2012 at 4:22 pm

The interst is calculated on per month basis and its added at the end of the year in normal case , when you withdraw, the interest will also be paid back . Dont worry on that !

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524 Nilesh M December 13, 2012 at 11:24 am

Hi All, thanks a lot Manish for your information but now things have been changed. my query is that now the news states PF rules are changed so can you describe whats the new rules states as it will be helpful to know more and even the deduction is compulsory to 12.5%.

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525 Manish Chauhan December 19, 2012 at 4:18 pm

Is it 12.5% now , can you send me the link which you read ?

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526 Prasant December 13, 2012 at 11:47 am

Hi Manish,

I have a confusion on “4: You might not get 100% of your EPF money”. As the rule a maximum of 541 rupees will be deposited towards the EPS. So Yearly maximum will be 6492. Also maximum withdrawal is same. So I think we can withdraw the actual amount of EPS without any interest upto ten years.

There will not any situation where your EPS accumulated is more than the withdrawal upto 10 years as the withdrawal is ‘n’ times of the years competed.

After 10 years, can we withdraw the EPS? Or it will be a compulsory Pension? Is there any withdrawal rule after 10 years? I mean if any one try to withdraw EPS after 12 years of job and the age is below 58, will he be getting 12 times of 10 times of yearly maximum 6500?

Thanks

Reply

527 Manish Chauhan December 19, 2012 at 4:12 pm

Let me research a bit more on this and get back !

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528 Saurabh Sharma December 13, 2012 at 2:25 pm

Hi manish,

The latest amendements in PF case has given a big shock to all the salaried employees whose takehome salary will be curtailed drastically. What do you think on this and how one can neutralize it impact.

Regards

Reply

529 Manish Chauhan December 19, 2012 at 4:07 pm

WIll write on this soon . I think its just a proposal and has not become a law !

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530 Ananda December 13, 2012 at 4:14 pm

Hi Manish,
Nice article. Can you please let me know on below,
I am going out of India for 3 yrs then what will happen to my EPF money?
Can I withdraw?
Can my EPF account will go to dormant state?
If suppose I came back after 3 yrs then can I use same account?

Regards,
Ananda patil

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531 Manish Chauhan December 19, 2012 at 4:04 pm

Yes, if your company is same , then after you come back your company will deposit the money in same EPF , but if you will change the company , then it will be different . Better withdraw !

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532 anilkumar December 14, 2012 at 2:33 pm

Hi Manish…
Im 23years old working in a organisation from past two years…
Till what time i wil get pension…In case death who will get and wht the amount..
My basic pay is 6300 right now…

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533 Manish Chauhan December 19, 2012 at 2:59 pm

You should get it lifetime

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534 Aditya December 16, 2012 at 11:47 am

I know that we can take a loan on our pf contribution after 7 years….What is the interest rate when withdrawing(not fully i mean..i want to continue contribution) it and is there any other way of avoiding it??

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535 Manish Chauhan December 19, 2012 at 2:31 pm

I think you will get it as Partial withdrawal not LOAN

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536 Meenxi December 17, 2012 at 3:26 pm

hi Manish,
Thanks for very informative Article.
I have one query, what if i have missed my EPF no. How can i get the EPF no?

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537 Manish Chauhan December 19, 2012 at 2:00 pm

You will have to file an RTI to get your EPF number, tell your employer name , address etc and your name to EPFO and ask for your EPF number

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538 natrajan December 18, 2012 at 12:49 pm

Hello Manish,
I resigned from my last job at the age of 54 after working in the company and contributing to its private pf fund for 4 years. I had withdrawn my pf from my earlier employers. Since then I am an independent consultant with no pf contribution. I am now 60 years of age, past the retiring age of 58 in my last company. Can I withdraw my pf from there without any tax deduction at source and without any tax liability on me.
Thanks in anticipation of your kind reply and with best wishes,
Natrajan

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539 Manish Chauhan December 19, 2012 at 12:57 pm

As per the rule , you need to be of continous 5 yrs in service if you want a EPF money without tax. so i guess in your case there will be no tax on it

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540 Aakanksha December 19, 2012 at 10:15 am

Thanks for this informative article. Could you also clarify how do you define ‘wages’ when i see a mention of this term across the article (withdrawal section etc.)

Thanks in anticipation of your kind reply and with best wishes,
Aakanksha

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541 Manish Chauhan December 19, 2012 at 12:32 pm

Its Basic Salary component

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542 Aditya December 19, 2012 at 10:42 pm

What is benefit of doing withdrawl after maturity(after 15yrs) over withdrawl whenever required??Is the tax waived after 15yrs??

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543 Manish Chauhan December 21, 2012 at 10:37 am

The withdrawal is tax free after 15 yrs, does not matter when you do it .

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544 Aditya December 21, 2012 at 12:11 pm

Then any year before the maturity tax is deducted..

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545 Pratap Chandra December 20, 2012 at 11:38 am

Very Nice article on EPF Manish, Thank you.

My Doubt from point 4 and table D is ,Do an employee 10 years continuously have to work for one company or is it applicable even though employee switch companies and keep on transferring the EPF amount to current company.

Please reply….

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546 Manish Chauhan December 21, 2012 at 10:32 am

He can switch companies, the EPF has to be 10 yrs old !

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547 Sumith January 23, 2013 at 1:23 pm

Hi Manish,

I switched 3 companies and so 3 PF Account created.
Amount from previous PF Accounts were successfully transferred to existing PF Account (3rd org).

With my current organization (3rd company) I have been for more than an year.
So in this case EPF is 6 yrs old or 1 year old?

If it 1 year old and I switch to new organization today, can I opt for withdrawing ONLY EPS amount (Form 10 c) rather than withdrawing amount from EPS + EPF?

Regards,
Sumith

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548 Manish Chauhan January 24, 2013 at 5:16 pm

It will be 6 yrs old ..

No you cant withdraw the EPS part like this

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549 Rakesh December 20, 2012 at 5:43 pm

I appreciate your initiative of providing us with such a detailed information!!!!
Keep up the good work :)

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550 Manish Chauhan December 21, 2012 at 10:17 am

Thanks Rakesh !

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551 Naren December 21, 2012 at 9:21 pm

Mr. Manish
I have completed 09 years and 09 months in the job and my gross monthly salary is Rs. 9600/- and as the pension scheme is not anyway attractive so I want to withdraw my EPS amount alonghwith some EPF so that I may skip from pension scheme and the contribution of Rs 541/-pm as EPS after 10 years of service may be diverted from EPS to EPF account. I have to continue my service but don’t want any contribution towards EPS as the pension is very low. After 20-30 years of my service the total contribution towards EPS will be a large amount and pension is very low.

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552 Manish Chauhan December 24, 2012 at 10:09 am

Naren

You will have the option to withdraw the full amount later, the pension is optional later

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553 Abhijit Powar December 25, 2012 at 4:26 pm

Very good article. Thanks alot for information.

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554 Manish Chauhan December 25, 2012 at 5:40 pm

Thanks Abhijit !

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555 Babu December 26, 2012 at 6:41 pm

Nice article. Thanks for the information. I am a Ph.D. student (commonly called a Research Scholar) receiving a monthly stipend of Rs 18000/- under the MHRD norms. As per my discussions in the department office, my research scholar status does not qualify as a job. Legally can I withdraw my EPF from a company I left in 6 years ago?

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556 Babu December 28, 2012 at 2:30 pm

I must add that I was unemployed for more than a year between 1st October 2009 and 27 December 2010 before I became a full-time Ph.D student.

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557 Manish Chauhan December 29, 2012 at 7:52 pm

yes , you can withdraw it now , but you will have to give affidavit to prove that you are unemployed !

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558 Babu April 12, 2013 at 5:15 pm

Hi Manish,
Thanks for your feedback to my earlier question posted here..

I have to provide my ex-employer a declaration of unemployment for withdrawing my PF. I am trying to write this declaration for the first time and need some help.

Is this sort of a declaration OK..?
I, MY-NAME, son of MY-FATHER’S-NAME of MY-PERMANENT-ADDRESS hereby declare that I am presently a Ph.D. Student (Research Scholar) at MY-DEPARTMENT-AND-INSTITUTE-WITHA-DDRESS. I am presently not employed with any organization.

Please let me know if something more needs to be added, and if this looks OK..

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559 Manish Chauhan April 19, 2013 at 12:28 pm

Yes, this should be good ..

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560 Babu April 19, 2013 at 3:45 pm

Thanks !

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561 Rajesh Patel December 27, 2012 at 8:57 pm

Dear Manish,
I need to withdrawn my PF amount ,so what total amount i get.

My details as below
Joining date:09-dec-2009
Releasing date:15-sep-2012
My PF contribution is: 38655

consider withdrawn apply date : 06-dec-2012
Waiting for your reply.

Reply

562 Manish Chauhan December 29, 2012 at 7:57 pm

You should expect somewhere around 85-90k in total becasue your employer contribution will also be like yours and then some interest you will get . This is rough estimate !

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563 Sharath Krishna January 2, 2013 at 4:32 pm

How the compound interest calculated for PF? i.e Monthly or Yearly

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564 Rohit Majethia January 2, 2013 at 4:50 pm

Hi,

I worked in the company X from 2006 to 2008 and got the PF transfer in Company Z in 2013. As per rule there is no interest after the 3 year (2011) and incase if you transfer the PF fund , interest will get credited even after the 3 year. (in above case 2011-13). Is it true? If yes, you will credit the interet , PF office of X company or PF office of Z company?

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565 Manish Chauhan January 3, 2013 at 11:23 am

Here is how it works . When a EPF is 3 yr old without contribution , then it stops getting any interest , like in your case when you left in 2008 , in 2011 , the EPF completed 3 yrs and then whatever amount was there was not growing beyond that point . Now when you transfer that EPF , only the balance which was there in EPF account will be transfered

Manish

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566 Rohit C January 20, 2013 at 3:52 pm

Further to above discussion, I have one question related to interest on PF transfer account.
Can we get interest on our current account amount + old transfer account amount(this account has completed its 3 yrs but transferred after 1-2 years later into current account)?

Reply

567 Manish Chauhan January 22, 2013 at 4:44 pm

You cant claim the interest for years which are gone now !

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568 Ravi Shankar January 3, 2013 at 4:28 pm

I will be completing 10 years of contribution to EPF only at the age of 59.5 years. Can I apply for the pension after 60 years of age instead of 58 years of age?

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569 Ashish Doifode January 5, 2013 at 8:57 pm

Hi Manish…Thank you very much for this Aaawwweeesome Article..
I have one query…i am searching for my PF & Pension statement for last 7 yrs (since Jan 2006 till today)….In 2008 PF office handed over the responsibility to my company’s PF Trust….but they (PF Office) have xfered the fund after 3 yrs to my company….Do you know if there is a similar article on PF Trust as well? I was searching for that because i think the road is still long to get the PF/Pension stmt of last 7 yrs…

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570 Manish Chauhan January 7, 2013 at 7:04 pm

The best you can do now is file RTI to EPFO and ask them all the statements . you will have to pay for each sheet .

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571 balveer January 7, 2013 at 4:30 pm

Hi,

I want to withdraw my PF from previous company, i quit that company exactly 3 years. do i need to make an affidevit or indemnity bond ? please reply asap. thank you

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572 Manish Chauhan January 7, 2013 at 5:26 pm

Its about the present. Are you unemployed right now or not ? You need to make the affidavit for that

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573 Purnima January 8, 2013 at 5:34 pm

Hi Manish,

I joined a new organisation 1 month back and PF has been deducted for one month and submitted to PF department also. It is possible to oppt out of PF now?

Regards,
Purnima

Reply

574 Manish Chauhan January 9, 2013 at 10:08 am

No

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575 Purnima January 11, 2013 at 11:23 am

Thanks a lot Manish.

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576 Purnima January 15, 2013 at 4:57 pm

Hi Manish,

My basic salary was below Rs. 6500/- that is why it was mandatory to deduct PF amount but from this month basic is more than 6500/- so can i opt out of PF in this case.

Regards,
Purnima

Reply

577 Purnima January 8, 2013 at 6:51 pm

Hi Manish,

I joined a new organisation 1 month back and PF has been deducted for one month and submitted to PF department also. Is it possible to oppt out of PF now?

Regards,
Purnima

Reply

578 kathiresh January 11, 2013 at 2:22 pm

Hi,

My brother passed away recently, he had a pf service of around 2.5 years. We received an amount of Rs.1.5 lakhs(approximate). But now my mother is getting pension amount of Rs.2501/-. my query is if employee dies, his nominee will get pf amount and pension? Is that pension will be provided life long? how they are calculating the pension amount?

Regards,
Kathir

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579 Pritesh Vora January 12, 2013 at 10:40 pm

Hello Manish,
First of all Many Thanks for sharing the wonderful articles. I must admit I have enhanced my financial knowledge by reading Jagoinvestor posts & comments.
I have applied for the transfer of my PF amt from previous employer to the current employer by submitting Form 13 quite a long time back. Also I registered a complaint through EPFiGMS as it was getting delayed. I have received a mail from them stating “Tr. of PF from XX to XX settled for Rs. 42102/- vide chq.no. xx dt 11/12/2012.”
I think the amount that is transferred is to the new PF a/c is very less than the expected or maybe I am calculating in a wrong way. Kindly help me in it.
Total Tenure with previous employer: 46 months
Date of leaving: 12/03/2011
Employee PF contribution: Rs. 528/- each month (from 1st month till end)
As per my estimate My PF accumulation should be more than Rs.48000/- without considering any interest on it. Assuming Employer contribution is same as Rs.528 (including the Pension part). Then I suppose I should have received more than Rs. 42102/- into my new PF a/c.
Could you please guide me what needs to be done from my end?
Please let me know in case you need any further information.
Thanking you in anticipation.

Regards,
Pritesh Vora

Reply

580 Manish Chauhan January 14, 2013 at 2:19 pm

The only thing I will suggest for now is file a RTI application . Only then you will get the exact status !

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581 Raj January 15, 2013 at 9:38 pm

Hi Manish,

First of all, whishing you an astonishing and happy new year 2013 :)
I have a query.

I have spent 4 years in Company: ‘A’. Also Spent 11 years 11 months in another Company “B” and now leaving the Compnay “B”.

Shall I be able to withdraw EPS from Company “B” or will get a Scheme certificate for pension?

Thanks.

Reply

582 Manish Chauhan January 18, 2013 at 2:11 pm

You should be getting the EPS part also !

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583 Manish Chauhan January 18, 2013 at 2:21 pm

You can withdraw EPS also

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584 Saket krishna January 15, 2013 at 11:11 pm

I wold like to know the precise Lock in period for recognised PF to be nontaxable in hand . whether its 5 yrs or 4 yrs and 240 days??
As per gratuity act 1972 ,5 yrs continous service stands for a precise 4 yrs and 240 days of service. whether same definition of continuos service is applicable for EPF also .

Reply

585 Manish Chauhan January 18, 2013 at 1:48 pm

Saket

this is something you should confirm at our forum http://www.jagoinvestor.com/forum/

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586 Saket krishna January 18, 2013 at 8:26 pm

SURE ..

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587 Purnima January 16, 2013 at 6:22 pm

Hi Manish,
I joined a new organisation 1 month back and PF has been deducted for one month and submitted to PF department also. In 1st month basic salary was less than Rs 6500/- so it was mandatory to deduct PF but now my basic salary is more than Rs. 6500/-, in this case is it possible to oppt out of PF now?
Regards,
Purnima

Reply

588 Manish Chauhan January 18, 2013 at 10:17 am

NO ..

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589 Sunil January 17, 2013 at 10:37 am

Hello,

I had withdrawn the EPF after 5 years and i submitted the form etc etc and the past employer told me that after 5 months we will get an acknowledgement and after that the amount will credited to your account.

I want to know the rules,is it true that it will take 5 mths for the acknowledgement no from the EPF?

Reply

590 Manish Chauhan January 18, 2013 at 10:07 am

I am not sure about the exact timing , but it can take some good time !

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591 Rajanikant January 17, 2013 at 12:28 pm

Hi Manish,

I have filled the form 10 and 19 for refund the Money and sent to my previous company and they also submit the form in PF office but form is rejected due to authorized signatory of previous company. and form is return to my previous company by pf office but unfortunately the form is lying in previous company and no one is there to follow. so what should i do for refund/transfer please guide.

Regards,
Rajanikant

Reply

592 Manish Chauhan January 18, 2013 at 10:06 am

Now you should file an RTI application and check with them if you can file is again without involving the previous company

Reply

593 Gurinder Singh January 17, 2013 at 2:15 pm

Thanks Mr. Manish,,, for this elaborative article and 10 rules,,,, I would call them Golden Information…. I wanted to know this information since long but the babus at EPF office in Chandigarh never provided the infomartion with such details… even their so called website don’t list the above information,,,, well said it is too complicated …. Thanks again

Reply

594 Manish Chauhan January 18, 2013 at 9:56 am

Thanks for your appreciation !

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595 Suresh January 18, 2013 at 5:41 pm

Manish,
Thank you for the article.
I am withdrawing my PF dues after a gap of 3 years and have been asked to submit the Indemnity bond cum affidavit.
Since I am outside India, can the affidavit be notarized by the Indian embassy/High commission and submitted to PF office.

Thanks.

Reply

596 Manish Chauhan January 18, 2013 at 5:43 pm

I am not sure on this .. but here is something I wrote on same lines – http://www.jagoinvestor.com/2012/11/withdraw-your-epf-without-employer-signature.html

Reply

597 Jawahar V R January 22, 2013 at 4:22 pm

Dear Manishji,

I am employed in a private organisation. They are not deducting any PF from my salary stating that I am appointed in that company for a higher salary than Rs.6500/= My Present salary is 15,000/= Is it right?

Reply

598 Manish Chauhan January 22, 2013 at 4:28 pm

How many people are there in company , if its below 20 , then its not compulsory for them to deduct PF

Reply

599 Namrata Ketkar January 22, 2013 at 4:40 pm

Dear Manish,

I joined my current company almost 2 years back and didnt opt for PF as my basic was more than 6500. but now since i have to apply for home loan i need to show PF deduction in my salary. So is it possible to open PF account now?.

Reply

600 Manish Chauhan January 22, 2013 at 4:57 pm

Yes , you can opt for PF now .. talk to your company

Reply

601 Namrata Ketkar January 22, 2013 at 4:59 pm

Thanks Manish

Reply

602 Namrata Ketkar January 23, 2013 at 2:42 pm

Dear Manish,

I spoke with my company reg opening of PF acc and the HR manager is saying since its almost 2 years passed and now PF account cannot be opened as PF dept will set up enquiry and Company have to pay penalty charges.

Is this true??? where i can get correct information??

Reply

603 Manish Chauhan January 24, 2013 at 2:33 pm

The best you can do now is

1. File a RTI to EPFO and find info on this

2. Check on our forum if any body knows about this – http://www.jagoinvestor.com/forum/

Reply

604 Sundaram January 24, 2013 at 1:41 pm

Dear Manish

I have service of 15 continuous years (at present in 4th Orgnaization) and all my previous EPF got transfered by submitting form 13. But I never submitted From 10 for EPS transfer, is that necessary to submitt EPS transfer form along with EPF transfer form.

How do i know that all my EPS amount got transfered to my present account.

Pls carify.

Regards
S.Sundaram

Reply

605 Manish Chauhan January 24, 2013 at 1:45 pm

Did you fill them on your own or did the employer did it for you ? Because mostly employer also sends it for EPS .. Else you should fill up for EPS also, check with RTI application the exact status of this.

Reply

606 Sundaram January 29, 2013 at 1:53 pm

Dear Manish
I only filled my EPF form (no.13) and submitted for transfer. But i never submitted form for EPS transfer (I guess it is From 10).

What is the wayforward now to transfer my old EPS into my present EPS account.
Is EPS eligible for interest as like EPF, pls clarify.

Regards
S.Sundaram

Reply

607 Manish Chauhan January 30, 2013 at 1:50 pm

Sundaram

I am not sure if you didnt get EPS, generally EMployer gives you the form 10 also , are you very sure that you didnt fill it up ?

Reply

608 sundaram January 30, 2013 at 4:20 pm

Dear Manish

I am sure i didn’t file from 10 for EPS transfer. I filled only form 13.

Is it possible to fill form 10 for the old cases now. Or any other way forward pls.

Regards
S.Sundaram

Reply

609 Manish Chauhan January 30, 2013 at 4:27 pm

Yes. do it now !

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610 Aditya pandey January 25, 2013 at 6:01 pm

I would lime to reconstruct my parental house, which is in my father”s name, can I withdraw amount from my PF. If yes how much. I am already in same company from last 10yrs.

Reply

611 Manish Chauhan January 30, 2013 at 5:22 pm

I dont think you can do unless the house is in your name .. or atleast the land !

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612 Prashant January 26, 2013 at 11:02 pm

Thanks Manish for such an excellent and informative article. Indeed one of the most required information for one who is not too deep into EPF and that too so simplified. This is really wonderful. However I have a few questions:-

– For any kind of partial withdrawal it would mean the amount extended as loan/advance (if they call it the same) will be given from EPF only or EPF + EPS.
– Will that also require to return the loan or advance taken with any interest accrue on it or it would simply mean that the amount taken will be deducted from the overall corpus of EPF and later on at the time of withdrawal that will be adjusted.
– When it is written “salary” for the partial withdrawal of the amount does it mean gross salary or net take home salary or it is just the Basic +DA.
– For marriage, education self or of children and sibling when it is said 50% of “your” contribution then does that mean the contribution of employee only or the whole of EPF amount including employer contribution.
– I have an understanding that if someone withdraws the EPF amount before 5 years it is subjected to tax. Please confirm.
– Out of curiosity I just want to know if these clauses as shared above are somewhere mentioned in the Act or Circulars including extending a maximum of Rs. 3,250 as Pension.

Reply

613 Manish Chauhan January 30, 2013 at 4:59 pm

Prashant

1. It will be like a PARTIAL WITHDRAWAL

2. Its a WITHDRAWAL

3. BASIC + DA

4. Including Everything ,, its 50% of your salary only

5. Yes

6. Yes, its in ACT , you can find out the PDF on net

Reply

614 Prashant April 17, 2013 at 5:58 pm

Hi Manish,

Thank you very much for your responses. However i am still not clear on Point 1 & 2 & 5.
Point 1. – I understand it will be a partial withdrawal but that partial withdrawal comes from both EPF+ EPS or just EPF.

Point 2.- I still have a confusion on whether at the time of repaying will there be some interest on the loan taken from EPF amount OR that will be interest free.

Point 5.- You mentioned in my post that withdrawing EPF amount after 5 years will attract tax but in response to the post done by ARUL / SAURABH above in the post there was a mention that after withdrawing EPF after 5 years it will Tax exempted. Please clarify.

Apart from the above please let me know on the following:-

1. As per Table D what will be the definition of a “COMPLETED YEAR”. Anything above 6 months will be considered as a Year or less than 6 months would also be a year, like 6 years 3 months will be 7 years or it will be 6 years only for calculation of pension.

2. If someone has a break in a job, let’s say after 6 years of employment he/she becomes a entrepreneur and runs the business for 2 years but never withdrew the EPF + EPS amount. After that again joins a company and works for another 5 years. In this situation will he/she be entitled to pension after 58 as he/she was not employed for 2 years in between and didn’t had any contributions to EPF+EPS although her overall tenure for service accounts to more than 10 years without any withdrawal of any EPF+EPS amount.

3. For partial withdrawal for replaying a housing loan upto 36 times of “WAGES”. Out here wages means Basic + D.A. or the gross / net salary p.m. ( I am assuming it to be per month ) because there are people at senior levels whose Basic + D.A. could be around Rs. 1 lakh so does that mean that they could withdraw upto 36 lakhs at that time.

4. What eventually happens to dormant accounts and does dormant means that no contribution or interest earned for 3 years and more?

5. If an employee continuously worked for 11 years in a single company and had regular contributions in the EPF account but after that either something unfortunate happened to him/her OR in case he became handicapped and incapable of work for the rest of the life then in both the cases either his/her family OR he/she will be eligible for pension after attaining the age of 58.

6. I have read on one of the forums that in an X company there were 5 employees who at the time of joining had a basic less than 6500 so they had a PF account and have contributions but with due course of time their basic went above 6500 so the company stopped deducting PF from their salaries and depositing the same. Is it correct and legal?

I know I have asked quite many questions but will sincerely appreciate if you can throw some light or suggest some links to get more clarity on the above.

Thanks
Prashant

Reply

615 Manish Chauhan April 19, 2013 at 10:46 am

Hi Prashant

I suggest open up a thread now on our forum to discuss this point , please ask open ended questions which any one can answer , you will surely get pointers ..

Manish

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616 Konark January 27, 2013 at 8:36 pm

Hi Manish, congratulations on a great piece of work here. Also best wishes for your company, I hope you guys succeed. I am also an entrepreneur trying to put together a venture for about a year now. I left my day job in Nov 2011 and since then I have been working on my own venture. I have had two jobs, both about 2.5 years each, before I quit and started up. Can I withdraw my PF amount? Anything I can get to invest in my business from anywhere is welcome :)

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617 Manish Chauhan January 30, 2013 at 3:09 pm

Great to hear your story :) .. yes you can withdraw your EPF now …

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618 suman gupta January 27, 2013 at 11:16 pm

Manish, Why Maximum Limit is different in 2 Lines as mentioned :
1.) The maximum Pension per month is subject to maximum of Rs 3,250 per month.
2.) There is something called Table ‘D’ , under which its mentioned how much you get at the time of exit from your job, there is a slab for each completed year and you get n times of your last drawn salary (depending on the completed year of service) subject to maximum to Rs 6,500 per month.

Are one is for EPF & another one is for EPS ?

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619 Manish Chauhan January 30, 2013 at 3:05 pm

NO that limit of 3250 is for pension income out of your EPS

And that table D comes into picture when you WITHDRAW your EPS and want money back !

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620 Neeraj January 29, 2013 at 4:46 pm

Hi,

Thanks for this useful post !!!

My wife has left a company and now want to withdraw the EPF.

Company finance person is saying that they can provide us the form which we need to submit to PF office by ourself.

Is that right as per rule ?? As far as I know it’s duty of previous employer to get this done for employees ??

Please guide..

Reply

621 Manish Chauhan January 30, 2013 at 1:36 pm

Yes .. its duty of employer , but only when you complete the process while you are leaving , once left, you are no longer an ASSET to them :) .. so they are not in the mood to help you now ..

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622 Neeraj January 30, 2013 at 1:39 pm

Hi Manish,

Thanks for the reply !!

We have filled all the required form while leaving the company. Is there anything which can help us to get our PF withdrawal .

Or visiting PF office by ourself is the only option to get this done ?

Neeraj

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623 Manish Chauhan January 30, 2013 at 1:48 pm

If you filled up all the relevent forms at the time of leaving the company, then your company must have sent it to EPFO after 2 months ,now if your company didnt send some particular form or made some mistake then its your company fault and they should help you . But now the faster route is to do it yourself by refilling the form. ask using RTI the procedure for it !

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624 Neeraj January 30, 2013 at 2:49 pm

They haven’t sent. They are even saying that employee himself have to do these things.

Is there any act as per which compnay should do this for employee ??

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625 Mohan January 29, 2013 at 11:32 pm

Hi Manish,
I read all your previous responses but couldn’t find answer to my specific case,so atlast i am putting up here. I have 4years 11months 25days service in one Company A and then i resigned and served 1year in company B and now resigned. Now i want to withdraw my PF from both the companies. Does either one taxable? I havent transferred them to single account yet, both are in different accounts.

Thanks
Mohan.

Reply

626 Manish Chauhan January 30, 2013 at 1:08 pm

You should transfer the old one to the new account and then only withdraw .. but then the issue is you cant because you are EMPLOYED . Right now you can withdraw the first option, but then you will have to declare yourself as UNEMPLOYED, do it at your own risk

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627 MUNNA DANDAPAT January 30, 2013 at 9:01 pm

Dear Manish,
can U say if i leave my job of 2.5 years, and my EPF balance is arround 50000/-. can i get withdrawal of the said amount or EPF(50000)+Company contribution(50000)=100000??

plz suggest how to claim for withdrawal

Reply

628 Manish Chauhan February 7, 2013 at 6:12 pm

You can get back all your EPF , once employer contributes to EPF, then its your money only.

Manish

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629 Vimal January 31, 2013 at 10:50 am

Hi Manish,

Really great info..thanks for sharing..

I have a query regarding Pension Fund transfer. I have got my EPF Transferred from my previous company but when I checked the passbook details I found that the Pension fund amount for those years (@Rs 541/ p.m) has not been transferred…

Do you have any idea is it some government rule that Pension Fund is not transferred or they have missed it?

Thanks

Reply

630 Manish Chauhan February 7, 2013 at 5:56 pm

You have to fill form 13 for that, did you fill it ?

Reply

631 Madan Mohan February 19, 2013 at 11:08 am

Hi Vimal,
I also faced the same. Trust that everybody faces the same. :) I got the response from EPFO, Bangalore that as per the scheme pension fund contributions are never transferred. They transfer EPS service period so that pension can be given. So, nothing to worry.

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632 Nandan January 31, 2013 at 11:15 am

Hi Manish,

I had claimed for my pf 2 years back and still havent received it and currently im studying… is there any way by which i can get back my Pf… can u plz suggest how? coz my friends say that i cant get my pf after a delay of so many years though i had applied for pf 2 years back itself.
plz help me out in this.

Reply

633 Manish Chauhan February 7, 2013 at 5:55 pm
634 HARI February 1, 2013 at 10:30 am

Dear Manish,
I worked in a company for 16 years and left the job on July 2012 and submitted my EPF for closure for my debts and i got settled in Dec 2012. Now my question is the EPF was settled under prevailing interest rate of 8.25%. Now the EPF has increased to 8.6% or 8.8% for 2012-13, but not finalise , will i get the difference amount of EPF interest for the period of Apr 12 till July 12 if the new interest rate of 2012-13 is applied on??. .thanks in advance.
REgards,
hari

Reply

635 Manish Chauhan February 7, 2013 at 1:57 pm

If its already settled , then why will you get the updated interest?

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636 Jayaraman February 1, 2013 at 6:11 pm

Dear Manish,
This article was very useful. Thanks for that. I have a specific problem with my EPF.
I have 8+ years experience. Last year, I took a PF withdrawal for purchase of plot. I had given the agreements and got the withdrawal sanctioned.
Due to some legal issues with that plot, I did not buy it, the agreement was cancelled. But I purchased a different plot with that money. But my employer refused to accept this even after producing the sale deed copy and EC. Reason being the property being different from what was sanctioned before. I was asked to repay the advance I took. I had to take a personal loan to repay it, and above that I have been banned from taking advance for next 3 years.
I would like to know if what my employer did is valid? Cant I use the advance to get a different property for valid reasons. Is there anyway, I can take this up and get the advance again for the new property?
Regards,
Jayaraman

Reply

637 Manish Chauhan February 7, 2013 at 12:07 pm

I think it will be seen as a fraud by you. Because you said X and did Y . you should have informed your company about the new plot and that you are going to buy that one. Not sure if your employer can really do that or not ?

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638 hirenj patel February 4, 2013 at 9:08 am

if member is not coming on job from 3 month ,as an employer can we put a resignation date of him without resign letter.

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639 Manish Chauhan February 6, 2013 at 10:54 am

I am not sure on that ,please check on our forum for this – http://www.jagoinvestor.com/forum/

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640 jaya kumar maben February 4, 2013 at 5:18 pm

I served in one company for 14 1/2 years and was member of EPF/EPS after going abroad i resigned and claimed for refund of pf amount

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641 Manish Chauhan February 5, 2013 at 11:11 am

Good to hear that :)

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642 Lopamudra February 6, 2013 at 2:15 pm

Hi Manish,

Tnx for all the infirmation. I have a small problem. I had joined my previous co. on 28th Aug, 2012 and left on 15 Jan. 2013. Now, my previous employer is saying that since I have not completed 6 months in the co. hence Iam not eligible to the co. contribution amount but am eligible only to my contribution. Is it true?
At present I have joined another co.and wish to tranfer my PF a/c to present co.

Tnxs.

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643 Manish Chauhan February 6, 2013 at 3:04 pm

Yes, thats true

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644 S. Jayaraj Maria Louis February 6, 2013 at 9:55 pm

My employees are being paid about 30000 rupees per month. Will the the employee get back all the money that is being submitted by the employer and the employee after the retirement? I ask this because someone told me only Rs 780 of the employer’s contribution will be paid back to the employee after the retirement.

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645 Asankaran February 7, 2013 at 1:24 pm

Hi Manish,

Your post has been very informative. I have a doubt if my company’s finance team is giving me correct response and I would like to check the FACT from you.

1) I am an Indian employee transferred to abroad (long term transfer) and it’s been 3 years here. I am paying my social security taxes in this country (non-SSA) – Am I have PF contribution (both myself & my employee) in this case?

2) My company had formed it’s own trust in 2007-08. However, I find that the transfer hasn’t happened from EPFO account to my company’s PF account. Isn’t it against the rules?

3) Worst part – our accounts are considered “dead account” (inactive > 36 months) as there is neither interest accrual nor PF contribution happening.

Please provide your comment on the EPFO policy applicable for an INDIAN employee working in a country with whom India DOES NOT have an SSA (Social Security Agreement).

Reply

646 Ananth Sankaran February 7, 2013 at 2:03 pm

Hi Manish,

Your post has been very informative. I have a doubt if my company’s finance team is giving me correct response and I would like to check the FACT from you.

1) I am an Indian employee transferred to abroad (long term transfer) and it’s been 3 years here. I am paying my social security taxes in this country (non-SSA) – Am I have PF contribution (both myself & my employee) in this case?

2) My company had formed it’s own trust in 2007-08. However, I find that the transfer hasn’t happened from EPFO account to my company’s PF account. Isn’t it against the rules?

3) Worst part – our accounts are considered “dead account” (inactive > 36 months) as there is neither interest accrual nor PF contribution happening.

Please provide your comment on the EPFO policy applicable for an INDIAN employee working in a country with whom India DOES NOT have an SSA (Social Security Agreement).

Reply

647 mohd February 7, 2013 at 10:09 pm

Dear sir really appreciated your efforts for giving your valuable time in solving our queries.

sir my question is this my organization is deducting employer contribution part from CTC package is it right or wrong please explain.

I am waiting fr your ans

regards
mohd

Reply

648 Manish Chauhan February 11, 2013 at 8:10 pm

There is nothing wrong in that .. employer has communicated that in advance already . Thats what CTC means btw .

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649 Ramya February 11, 2013 at 3:48 pm

Hi Manish,

Before 2.5 years, I withdrew my PF amount and the account seems to be closed. Is there a way to validate the amount received ? I see this is not available in the EPF website and I see two amounts deposited in my account (Assume one is EPF and the other one is EPS as I have submitted 10C and 19).

Just wanted to know if there is a way to check this ?

Reply

650 Manish Chauhan April 26, 2013 at 12:16 pm

All you can do is file a RTI and ask this

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651 Rajender February 12, 2013 at 2:28 pm

Hi Manish

I have already purchase a DDA flat at Delhi in the month of Oct. 2012 and 5 year of my service will be completed in the month of March 2013, Now Is it possible to take loan against already purchased flat or I have to apply for alternation after March & what documents are required for that as it is a Delhi Development Authority expandable flats sanctioned in the year of 1999 to previous owner.

Please reply

Reply

652 Manish Chauhan February 18, 2013 at 2:56 pm

I think its available only for the purchase of a house

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653 Abhijit February 12, 2013 at 10:34 pm

Hi Manish,

Very useful article, with reference to which I am submitting an application to my employer for additional contribution to EPF; which will be more than normal i.e. 12% from my side (VPF). I have submitted the copy of the request form already for the same. Thanks to you.

Now one important thing to know-
I am working in my current organization from last 8years however most probably my next employer will be somewhere in Gulf let’s say in Oman.
Now my question is what will happen to the EPF money? EPF facility won’t be available in Oman like in India hence I can’t transfer it anyway.
I really do not want to break my long term savings because of this?

What will be the ideal solution for not breaking the EPF?

Let’s say I come back from gulf after 5years & join an Indian Employer. Can I then transfer my EPF from the old Indian Employer to the new Indian Employer which I will be joining after Gulf job?

Your advice will be of great help.

Reply

654 Manish Chauhan February 18, 2013 at 2:34 pm

You can keep your EPF as it is, but as per current laws, it will earn interst only for next 3 yrs , after which it will become dormant and not earn anything . So if you are planning to come back to india very later like 5+ yrs , better complete the formalities of withdrawal and keep the money for some use or invest

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655 Abhijit February 19, 2013 at 10:31 am

Thanks for the reply Manish.
I must take care of completeing the formalities before I leave to some other country.
Keep up the good work.

Regards,
Abhijit

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656 Manish Chauhan February 21, 2013 at 10:02 am

Sure

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657 Hemant February 15, 2013 at 2:40 pm

Hi Manish

Thanks for the wonderful post.

My question is if an employee turns 58 and wants to withdraw his pf while continuing his job then:-

Can he withdraw?
If yes then how much he can withdraw?

Reply

658 Manish Chauhan February 18, 2013 at 1:39 pm

No cant do like that

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659 Arul February 15, 2013 at 6:25 pm

I have worked in a company for 2.5 years and later switched my job to another company and maintaining another separate PF account. I have neither transferred nor withdrawn money from my previous PF account.

If I withdraw money from my previous PF account after 2.5 years from the date of my resignation from my previous employer, whether it is taxable or not. Moreover,can I able to maintain two separate PF accounts.

Thanks,
Arul

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660 Manish Chauhan February 18, 2013 at 1:35 pm

You can maintain two EPF , the first EPF should cross 5 yrs in existance so that you have to not pay tax on it

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661 Rohit Godkhindi February 18, 2013 at 2:42 pm

Hello,
I dowloaded my EPF passbok from http://members.epfoservices.in on 17 Jan 2013.

Now i tried again to download the same but still reflecting the same old pdf which has
details till dec 12 salary.

Reply

662 Manish Chauhan February 18, 2013 at 2:53 pm

It might be updated after many months !

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663 neha February 22, 2013 at 1:02 pm

thanks a lot for the information..

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664 Shailesh Patel February 22, 2013 at 5:28 pm

Hi Manish,

I want to buy a land plot from a housing venture. The owner has acquired this venture from many farmers. What are the documents I need to procure in order to get an EPF loan?

Reply

665 Manish Chauhan February 25, 2013 at 5:46 pm

I think that you should get on our forum – http://www.jagoinvestor.com/forum/

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666 Rajkrishnan February 25, 2013 at 2:25 pm

Hi Manish,

I am Rajkrishnan working in MNC at chennai. I had work with one company at Bangalore from March 2005 to May 2007. When i shifted my company , i tried to transfer but didnt worked out. Now that company is sold and bought by another one. When i looked EPF Status of that blre company , it was showing some amount some 5 months back. But when i checked now , its not showing. Whether i will get that EPF if i go to EPF office by giving all forms which are necessary. Kindly reply

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667 Manish Chauhan February 25, 2013 at 4:54 pm

Better you enquire this now using RTI , because only EPFO department will be able to help you with the exact procedure !

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668 Rajkrishnan February 25, 2013 at 6:14 pm

Thanks…

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669 Vikram February 25, 2013 at 2:36 pm

Hi manish,
i am working from last three year and now i am moving to a new job. i have been told that we will not have pf facility in my new job and my basic salary will be more than 6500, so kindly tell me how i can go forward with it.

Reply

670 Manish Chauhan February 25, 2013 at 4:53 pm

Withdraw your existing EPF then

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671 saurabh February 26, 2013 at 12:03 pm

I have been working with a company for 4 yrs & 8 months now. PF has been deducted from my salary for the above said period. Now, I am joining another company which does not have a PF a/c. How do i withdraw my PF balance without attracting income tax. Should i hold the balance in the existing a/c for a 4-5 months more & then withdraw? Please HELP!

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672 Manish Chauhan February 27, 2013 at 10:04 am

yes .. that will help you get a non-taxable PF !

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673 Deepak February 27, 2013 at 11:19 am

Dear Manish,

I worked in a company for 8 months and according to salary slip me and employer had equal contribution to epf, both rs 1493. So if I withdraw this amount before my next job, what will be the exact amount? will it be Rs. 1493 x 2 x 8 = 23888.00 Or some other figure..

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674 Manish Chauhan March 1, 2013 at 9:00 pm

YEs . it should be around that !

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675 Deepak March 1, 2013 at 9:39 pm

Thanks Manish, you are doing great job by running this blogsite. Very useful for those who have no proper knowledge. Thanks again.

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676 Manish Chauhan March 3, 2013 at 10:21 pm

Thanks !

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677 Sameer February 28, 2013 at 12:53 pm

Hi Manish,

Thanks for the very useful information. I had a question:

– I transferred my PF from one company to a private trust holding company. This will not have any EPS account. What happens to my EPS money from previous company? Does it get transferred?

– Does submitting a request to transfer EPF automatically transfers EPS as well?

Thanks,
Sameer

Reply

678 Manish Chauhan March 1, 2013 at 8:35 pm

Only if you had filled the form for EPS. By default the company gives you the form for that

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679 Dinesh Kumar March 1, 2013 at 4:46 pm

Hi Manish,

I worked for mnc company,
From 14 June 2010 to 14 June 2011 deducation amount rs.600
From 14 june 2011 to 3 oct 2012 deducation amount rs.700.
over all 28months experience
My last salary per month was rs.18,800.
Please let me know how much pf amount will I get.
and I received an sms on my mobile stating that ur Payment under process.
Regards
Dinesh

Reply

680 Manish Chauhan March 1, 2013 at 7:54 pm

You should get around Rs 2500 .

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681 Dinesh Kumar March 1, 2013 at 8:22 pm

how come rs.2500 for 28month

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682 Manish Chauhan March 1, 2013 at 8:29 pm

I am taking it around 2 yrs .. so your contribution + employer should be around that amount .. may be little up or down

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683 Dinesh Kumar March 1, 2013 at 8:59 pm

ok 2500 per month and I should calculate for 2500 x 28months or how please calculate and tell me the amount.

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684 Manish Chauhan March 1, 2013 at 9:12 pm

For exact amount, you can only know by filing a RTI !

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685 RITESH March 1, 2013 at 9:46 pm

Thanks for valuable information. Feels very good for you.

Can you pls advice on- My mother resigned from a private firm and got his PF amount but even after 18 months , unable to get processed his pension papers.

Where we can lodge a complaint , company officials taking too long now.

Reply

686 Manish Chauhan March 3, 2013 at 10:20 pm

The best thing you guys can do is file a RTI and ask what is the status and whats next . things should move faster !

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687 M.Agarwal March 4, 2013 at 11:10 pm

Sir

My question is that i had worked for 12 years in X company(EPF withdrawn) after that i joined Y company for only 6 month(EPF withdrawn) again i joined X company as new appointment for 2 years(EPF withdrawn) after this i joint Z company and working presently 5 years
How can i merge my penson for all service tenure ?,What should i do ?
Regards
M.Agarwal

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688 Manish Chauhan March 13, 2013 at 1:53 pm

You will have to file the transfer form for each of your company

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689 krishna kumar saxena March 5, 2013 at 7:55 pm

sir,
i was working for an organisation from 14/7/2003 to 21/11/2012, they were deducting a fixed amount rs 780 per month,
now i hav resigned the job & applied for pf withdrowl.
sit plz help me to know that how much amount shoul i get & why it is taking so late.
bcoz organisation is not responding for anything.

Reply

690 Manish Chauhan March 13, 2013 at 1:15 pm
691 Avinash Soni March 7, 2013 at 10:03 pm

Hi! Manish,

Thanks for the useful article, My question is if an employee has a EPF A/C no. and he want to know the amount accumulated in it. In EPF website, it is asking for some establishment code which is not mention in the A/C no.

Reply

692 Manish Chauhan March 8, 2013 at 7:20 pm

Each company has a establishment code .. JUst search for it in google with your company name

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693 Avinash Soni March 20, 2013 at 12:22 pm

Hi Manish!

I was working with Pantaloon Retail Ltd since 2006, but on 1st Jan 2010 the company launched new venture Future value retail Ltd and my EPF A/C transfer in the new venture name. now when i see my EPF status from the EPFO portal it is sowing only FVRL (new venture) amount.

Kindly suggest how to know the total amount.
when i fill old PRIL A/c no. then it is sowing account has been settled.

Avinash Soni.

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694 Manish Chauhan March 21, 2013 at 8:46 am

You should be filing the RTI to find out the status . Only they will be able to give you accurate info

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695 expat March 8, 2013 at 12:17 am

I worked as an Expat & My Company claims they have deposited PF for me & show me an company internal PF statement.But when i query on EPFO website using the PF account number they have given i get Invalid User error.Does that mean my company did not deposit PF or is it just EPFO office taking 3years to create my details on their website.
Are there any companies which can offer paid help to sort this out for me?ie Get me a proper PF statement issues by EPFO?

Reply

696 Manish Chauhan March 8, 2013 at 7:13 pm

Expat

It might happen that your data is not uploaded there .. thats all .. the best way to find the answers is to file a RTI application and asking all these questions !

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697 krishna saxena March 8, 2013 at 11:52 am

hi manish,

i worked with an orgnization from 14/7/2003 to 21/11/2012 , now i hav resigned and applied for pf withdrawl, they were deducting a fixed amount rs 780/- per month. plz let me know that what amount i m supposed to get & how long will it take? bcoz organization is not responding for anything.

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698 Manish Chauhan March 8, 2013 at 7:10 pm

I think the accurate answer will only come through an RTI application ! .. – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

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699 krishna saxena March 9, 2013 at 12:24 pm

hi manish
a big thanx for giving me direction & information about rti but now prob is that
that Organization has not sent my PF withdrawl form to its regional office on enquiry they said that we will send after one month .I Resigned on 21/11/2012 so 3 months are already passed(i think which reqires) now what should i do can u plz suggest me…..

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700 Manish Chauhan March 13, 2013 at 12:36 pm

Yes ,they should send it asap . Ask them to do it asap ..

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701 Kamleshwar Prasad March 8, 2013 at 12:12 pm

I worked in MNC. My past service is 10 years upto 15.11.1995. The gross salary was Rs.2,480 upto this period. After 15.11.1995 to 30.06.2003 my pensionable service is 7 years 6 months and Pensionable salary is 6,050. What will be my family pension now. Please suggest.

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702 Manish Chauhan March 8, 2013 at 7:02 pm

Your pension can not be predicted with just above information .. I suggest to file a RTI for this !

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703 Avishek Chakraborty March 9, 2013 at 9:00 pm

Thanks for the valuable information.It will definitely help a lot.

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704 Chanchal March 10, 2013 at 4:48 pm

Hello Manish,
First of all thanks a lot for such an informative article. It really educates us. Thanks a ton for your hard and good work thru jagoinvestor.

I had a request. If you could create a video on EPF interest calculation similar to how you did for a PPF calculation.. it will be really great.

Otherwise if you can explain a bit more in detail on EPF interest calculation, that will help me.

Thank you.
Chanchal

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705 Manish Chauhan March 13, 2013 at 12:14 pm

Will have to check myself on that :)

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706 ashok phogat March 11, 2013 at 8:21 am

I withdraw an amount for my son’s marriage from my P.F.,, can I get any deduction for this??

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707 Manish Chauhan March 13, 2013 at 11:59 am

No , there are no deduction like this

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708 Snehal Sukhadia March 11, 2013 at 4:25 pm

I was working with a company till November 2012 and was a part of the PF scheme. After that till March 15, 2013 I was running my own business. Now I have got a job and joining a company again. My questions are:

1. Can I withdraw the amount of PF from the previous employer?
2. Can I opt for not being a part of the PF Scheme during my new employment?

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709 Manish Chauhan March 13, 2013 at 11:43 am

1. Not really, once you are employed again , you cant withdraw the PF , you need to transfer it

2. I dont think so !

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710 Snehal Sukhadia March 14, 2013 at 9:37 am

Thanks a lot Manish

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711 Priyanka March 11, 2013 at 5:11 pm

Hi Manish,

Big thanks for all the details regarding PF, now I have better understanding of PF :).

I completed more than five years in my previous company, and my EE is approx 54K & ER is approx 20K (till march 2012), could you please suggest how much PF will i get at the time of withdrawal.

If possible kindly explain EPS calculation in easier terms.

Many thanks in advance.

Regards
Priyanka

Reply

712 Manish Chauhan March 13, 2013 at 11:41 am

Priyanka

I think there are many more things which even I and you need to get clarity on . If you want to know the exact number, in that case I would say file a RTI for that .

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713 Raju Madhavan March 12, 2013 at 8:21 am

Manish,
I have recently moved out of my organization and would be starting a business, would it be possible to retain the PF account as it is and get the benefits? OR, Am i forced to withdraw? what are the rules fo rthis.

Raju

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714 Manish Chauhan March 13, 2013 at 11:26 am

You can keep it like that, but after 3 yrs of inacticity, it will stop giving any interest , then its like not earning anything on the amount . I would suggest apply for withdrawal, anywyas it takes some times to get it and then keep it as FD !

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715 Sanjiwan March 12, 2013 at 5:47 pm

Hi Manish,
I worked my previous company from Feb 2008 To Nov 2012 (4 Years 10 Months).
Now I want to withdraw my PF but I heard that it will be a taxable
So please let me know how much tax I need to pay if I withdraw my PF.
Or please suggest me the better option to save the tax of my PF.

Thank You…….

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716 Manish Chauhan March 13, 2013 at 11:02 am

It will be added to your income and based on your tax slab you will pay the tax. mostly 20% if your total income after adding PF amount is below 10 lacs.

Now you can wait for 1 more year , and then withdraw the PF amount , which will make sure your tax is saved as it will be a 5 yrs old EPF account

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717 Prakash reddy March 14, 2013 at 10:45 am

Hi manish,
During transfer of EPF to new company, does the old company amount(EPF+EPS) comes to new company account as new EPF.

Am i correct?

If not is there any separate form to get that to new company EPS account?

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718 Manish Chauhan March 19, 2013 at 12:22 pm

There is form 13 to be filled, but its given by your employer

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719 leela March 14, 2013 at 12:35 pm

Hi,
My husband is working with some auto company and we would like to increase pf contribution by employee.
We would like to know that is there any limit in employee contribution and whatever we contribute to PF is tax free we believe.

So to reduce taxable income can we choose to increase employee contribution?

If answer for the above question is yes, then is there any time limit to withdraw the pf amount with out paying tax.
Regards n thanks,
LeelaK

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720 Manish Chauhan March 19, 2013 at 12:16 pm

Yes employee can increase his share , but only upto 1 lacs in total is covered under 80C section ..

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721 Susant March 14, 2013 at 7:03 pm

Hi Manish,
I want to construct a new house on a Plot which is in my Fathers name. Can I opt for the EPF withdrawal for the House construction?
If Yes, how the 36 months of EPF calculations happens, if there is a change in EPF on every year.
Note: I have already completed 5 years in my Current organization.

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722 Manish Chauhan March 19, 2013 at 12:03 pm

I am not sure if it will be allowed if the house is not on your name

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723 Mohan March 16, 2013 at 2:38 am

Nice article. Very informative. Thanks for sharing.

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724 Mitesh March 16, 2013 at 3:11 pm

Sir, I am planning to purchase a resale flat. I will be completing 5 yrs of my service on 25th May 2013. If I purchase flat in the month of Mar’13. Can I claim withdraw in June’13?

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725 Manish Chauhan March 19, 2013 at 11:28 am

Yes

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726 BHAUSO THORAT March 16, 2013 at 7:23 pm

sir,if i get loan against EPF ,Can i am eligible for EPF PENSION?

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727 Manish Chauhan March 19, 2013 at 11:25 am

Good to hear that !

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728 Manish Chauhan March 19, 2013 at 11:25 am

Yes, if you repay the loan

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729 Sukumar March 18, 2013 at 9:57 am

Hi Manish,

Thanks for the info. I had worked for a company from Jun 2005 to Apr 2010 (4y 11m). I did not withdraw the amount till now. I was told that if we dont work for any company for 5 years then EPF will be taxed. Please let me know if this true. I am planning to withdraw now. Please let me know if my EPF will be taxed. Is it right time to withdraw my EPF? Should I wait till March end to get the EPF interest?

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730 Manish Chauhan March 19, 2013 at 10:57 am

It has to be 5 yrs old, even if you leave the job , you can withdraw it 1 month later, so that it complete 5 yrs !

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731 Devang March 18, 2013 at 3:22 pm

Thanks for providing some valuable info on epf/eps rules…

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732 Manish Chauhan March 19, 2013 at 10:46 am

Welcome Devang !

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733 Irfana Parveen March 19, 2013 at 4:33 pm

Hi Manish,
My issue is that… I had mentioned wrong account No. in PF withdrawal application and my PF amount of Rs. 3,06000 is already been sent to the said wrong account No… and I really dont know what i should do.. can u please advice me as to how i can get the said amount credited to the correct account.

Regards,
Irfana Parveen

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734 Manish Chauhan March 21, 2013 at 9:06 am

The only issue now is, the mistake is done by you , if the person who got the amount has used the money, then bank will not be able to recover back the money . Check with EPF department now

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735 Irfana Parveen April 16, 2013 at 4:56 pm

Hi Manish,

Thanks a lot for your advise….

I have checked in teh concerned Bank..whatever wrong account number i mentioned does not exist at all. Can i resubmit my Form 19 for re-withdrawal… can you please advise….

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736 Manish Chauhan April 19, 2013 at 11:12 am

Yes, then you should apply for re-withdrawal

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737 Santhosh March 19, 2013 at 10:31 pm

Manish, Very nice article,
I need a small information regarding PF… I am from Hyderabad and working for a software Company. My company is not providing PF for the employees whose Salary is more than 15k. Is a Company have a chance of not providing PF for their employess.. In this case if I already have a PF account in my previous company and if I joined here then can I with draw my PF?

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738 Sarath March 20, 2013 at 12:27 pm

Hey Manish, many thanks !!!
very crisp and clear…very much useful one :)

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739 Manish Chauhan March 21, 2013 at 8:45 am

Thanks :)

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740 Shishir Pandey March 20, 2013 at 9:33 pm

Hi Manish,

I withdraw my EPF from the previous employment and I also received money direct to my bank a/c from EPF office. As you said above that Employer contribution of EPF one can withdraw, so please tell that whatever amount I got from the EPF office it was only the Employer contribution, is my contribution remains there? If Yes, than should I transfer it to my current organisation. and Whats the procedure of transfer? Is there any requirement of previous company in case of transfer.

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741 Manish Chauhan March 21, 2013 at 8:40 am

NO , you get all the money in one go ..

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742 Nishant March 23, 2013 at 8:48 pm

Hi Manish
I left job after completing 4 years, in 2012 for studies that will be 2 years course. I want to continue the same EPF A/c by transferring to new employer when I join new job after 2 years. Do I loose by doing so or withdrawal will be better option? Please suggest.

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743 Manish Chauhan March 27, 2013 at 12:50 pm

No its a good option ,you can do that after 2 yrs

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744 R S Gupta March 24, 2013 at 2:22 pm

I worked in an organization for 2 months so could I withdraw the pf amount?

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745 Manish Chauhan March 27, 2013 at 12:24 pm

No , you have to work for atleast 6 months for that

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746 Gnanasekaran March 26, 2013 at 12:42 pm

Hi Manish,

I had presently joined a start up company which are planning to start EPF from April, Previous to present employment I had given application in to transfer my PF account in my previous 3 Company When I had joined the company. Unfortunately none of them transferred the account from previous company, is there any possibility to transfer the amount from three EPF account opened in my previous companies to new EPF. ( Note : I have 1 EPF account in Mumbai and 2 other EPF account in chennai, Also these 3 EPF account are less than a Year old ).

Thanks
Sekar

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747 Manish Chauhan March 27, 2013 at 10:20 am

Gnanasekaran

I am not sure whats the process to stop your existing transfer requests . I think you will have to file a RTI to find out the way out . Or just put a thread to discuss it on our forum – http://www.jagoinvestor.com/forum/

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748 Rupesh kadam March 26, 2013 at 3:23 pm

Dear Manish sir
Really really useful infromation for common people like us.
I read your blog regarding pf withdrawal rules and i found that if anyone join new organization then he has to transfer his PF and no withdrwal allowed as per law.
But sir I already dispached my PF withdrawal forms to my previous organization for processing and from then it will be pass on to PF office for further processing.
My question is, By mistake I wrote my current official email ID on that forms. please guide Is pf office process this forms or not? as I am in financial crisis and hence I withdraw my PF.

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749 Manish Chauhan March 27, 2013 at 9:28 am

He might reject it asking you to prove that you are unemployed .

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750 Rupesh kadam March 28, 2013 at 1:39 pm

Thank you sir for your prompt revert.
sir, are you sure they will reject my forms? and if they do so can I send new application to them with my personal email ID?
please guide

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751 Manish Chauhan April 3, 2013 at 1:15 pm

I am not sure , but there are cases like that

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752 Rupesh kadam April 3, 2013 at 4:00 pm

ok thank you, sir

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753 Nishant March 27, 2013 at 3:33 pm

Thanks Manish.

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754 mallikarjun March 27, 2013 at 5:05 pm

iam a PSU employee.in my organization,the employer’s contribution of 8.33% towards pension scheme is deducting on total basic plus D.A.
ex:( 26420+19020)*8.33%=Rs.3785/-
can you tell me this scheme details.

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755 karthik March 31, 2013 at 12:22 am

Appreciate your article !

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756 Neetu April 1, 2013 at 12:02 am

Hello Manish..Hope you are doing good…I have a query on PF…Request you to plz help me.
I am working since 2002 till current without any break in service. I have worked for 4 organizations and this is my 5th organization. I have not withdrawn or transferred my PF so far.

I would like to know:-
Q. No 1: If I can submit 4 forms to my current employer so that they are able to transfer them all in the current (5th Account)….
Q. No. 2: If I opt to withdraw my PF from previous 4 employers, will it be taxable to me ?

Thanks,
Neetu

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757 Manish Chauhan April 3, 2013 at 9:51 am

1. You dont have to give the transfer request to your current employer , it has to be directly sent to the EPFO department . Check by enquiring to your current employer also if they can help

2. Only if the EPF account is not 5 yrs old .

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758 bhavin April 1, 2013 at 4:38 pm

i work in vodafone. they said epf withdraw is done then i complete my job of 1 year work otherwise i not take my epf .is right.

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759 Manish Chauhan April 3, 2013 at 9:20 am

Its 6 months !

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760 SA April 4, 2013 at 1:03 pm

Hello Manish
I worked for company for 4.5 yrs in India then got transferred to USA branch and have been working here for 7+ yrs with the same company. Am I eligible to withdraw PF in this case?

Thanks
SA

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761 Manish Chauhan April 6, 2013 at 11:51 am

definately you are .. just fill up the withdrawal form . you should have ideally done it when you left for US !

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762 Taher April 5, 2013 at 3:15 pm

If a member contribute Rs. 541/-per month as EPS for five years and he leave the job how much he/she will get as a withdrawal of bennefit as per Table D of EPFO kindly explain in details. At the time of leaving his/her salary is Rs. 6500/-

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763 Manish Chauhan April 6, 2013 at 11:03 am

Not so easy to find out like this . Better file a RTI for this to EPFO and find out

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764 nmsadguru April 6, 2013 at 1:39 pm

If a employee serve the organisation for Seven year and leave the job how much employee get withdrawal benefit under EPS.

Total EPS Contribution 45444/- Salary Rs. 6500/-

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765 Deepak April 8, 2013 at 8:57 am

I have contributed Rs. 55228/- under EPS for Nine years and leave the job. at the time of leaving my basic salary is Rs. 7500/- How much I will get as a withdrawal benefit . Please send details and calculation also.
thanks

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766 Manish Chauhan April 12, 2013 at 12:26 pm

The full amount

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767 Manish Chauhan April 12, 2013 at 12:55 pm

He will get as per the chart given in the article

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768 Deepak April 6, 2013 at 1:54 pm

I have contributed Rs. 55228/- under EPS for Nine years and leave the job. at the time of leaving my basic salary is Rs. 7500/- How much I will get as a withdrawal benefit . Please send details and calculation also.

thanks

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769 Alok Agrawal April 8, 2013 at 10:52 am

I had shift to new company so , I requested regional PF office to transfer my PF account to my new company’s pf trust account.

They have transferred the amount but there is difference between the amount they transferred and the balance that I had in regional PF account.

In my regional PF account, total amount was around 80 K (42k(EPF), 12K, 26k(EPS)). But the amount that has been transferred is 68K (48(EPF), 20K (employer share)).

SO I am not able to understand this difference . Can any one tell me, please?

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770 Manish Chauhan April 12, 2013 at 12:26 pm

The only right answer can come with RTI

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771 sumeetkumar April 8, 2013 at 2:43 pm

dear manish sir,
i had a query regarding my pf withdrawl?

i was employed in a PSU for 3 years.
after 3 years, through proper channel, i joined another psu.

I didnt transfer my pf amount.
I am under a crisis, for which I want to withdraw my pf amount accumulated in my previous company.
When I sent the withdrawl form, today I got a call from my previous employer office, that as I am employed in another psu, and that too through proper channel, they can only transfer my pf amount and cant withdraw it. Please can you help me out with this, as the amount is urgently required by me… thanks… sumeetkumar…

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772 Manish Chauhan April 12, 2013 at 12:21 pm

Yes, you cant withdraw it , because only when you are not employed, you can withdraw it as per law. You can only transfer your old epf to new epf

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773 Prabhanjan April 10, 2013 at 9:10 pm

Hello Manish ,

Very informative forum. Please help me with my query .
I am applying for a partial PF withdrawal towards Construction of House , construction estimated 40 Lkhs. I recently bought this Site with a Composite loan approved for 40 Lkhs from IDBI . Bank has released 19 Lkhs for purchase of Site . So they will gradually release remaining 21 Lkhs for construction.
1) Will there be chances of rejection from PF , since i am also borrowing a home loan ? though home loan isn’t sufficient for me .
I am yet to submit my application , so thought of getting this clarified before i submit them. I have already completed 8 yrs with PF .
Thanks
Prabhanjan

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774 Manish Chauhan April 12, 2013 at 10:22 am

No EPF should not reject your application because you are borrowing from other place also

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775 Praveen Deshmukh April 13, 2013 at 5:59 pm

From the http://members.epfoservices.in I downloaded epfo sheet which contains records from 01/04/2011 to 05/04/2013. But my pf account started in 01/01/2012.
In the report from 01/04/2011 to 01/01/2012 all the reocords are empty.
So how many years has been completed to my pf account its 1 year or 2 years.

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776 Manish Chauhan April 19, 2013 at 12:09 pm

The data is not uploaded for all the years ..

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777 praveen April 20, 2013 at 10:21 am

But my pf account started in 01/01/2012. why the report is showing from one year back.

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778 Manish Chauhan April 26, 2013 at 2:13 pm

Its one year only , right .. from 2012-2013

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779 mallikarjun April 15, 2013 at 9:29 pm

hello manish,
iam a PSU employee.in my organization,the employer’s contribution of 8.33% towards pension scheme is deducting on total basic plus D.A.
ex:( 26420+19020)*8.33%=Rs.3785/-
can you tell me this scheme details.

Reply

780 Manish Chauhan April 19, 2013 at 11:24 am

What kind of info you want ? Its already covered into this article i guess

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781 Jose April 25, 2013 at 4:30 pm

Hello Manish,

I have a query. Does the employer share of contribution and employees share of contribution be the same? Our organisation deducts employees contribution @ 12% and employers contribution is flat Rs. 780/- per month ( Rs. 239/- for EPF and Rs. 541/- for EPS).

Is this is allowed as per the EPF rules?

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782 Manish Chauhan April 26, 2013 at 10:49 am

As far as I know, It has to be equal upto 12% of your basic. Ask the employer on this and under which rule or rational they are doing it ? You can also file a RTI to EPFO and ask for this .

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783 Ashish L April 26, 2013 at 10:08 am

Hi Manish,

Morning. Did not know the backend of how EPF works.

Thank You for educating us all.

Regards,
Ashish

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784 Manish Chauhan April 26, 2013 at 10:23 am

Welcome :)

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785 koushik April 29, 2013 at 9:05 am

Hi Manish,
our company is totally into small duration projects(like 1 week to 1 month, max 2 months) we will be hiring be candidates in between 100 to 200(candidates) for registration work, operations work from consultant for project and once projects done we will give them salary/wages through consultant. is it necessary to provide PF for those registration executives, operations executive who works for 1 week to 2 months?is there any options to avoid. i heard like we can take them under stipend. so that need not to provide PF to those candidates.kindly help me out.

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786 Manish Chauhan May 6, 2013 at 6:26 pm

I am not clear on this . But I think PF is mainly for your permanent employees ! . You can check with EPFO on this

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787 praveen anand April 29, 2013 at 3:46 pm

i worked in a co.in noida from aug 1999 to apr 2001,i had withdrawn my pf amount but i am not sure wheather it was EPF or EPF+EPS both,pls tell me was at that time (1999-2001) EPS law of Rs 541 was applicable ,how could i know that i have withdrawn the whole amount or EPS amount is still pending.

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788 Manish Chauhan May 6, 2013 at 5:45 pm

You can only be sure by filing a RTI .

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789 S Srinivasan April 29, 2013 at 10:59 pm

Dear Manish Chauhan

To get a pension one should not have withdrawn the amount. I took VRS and hence withdrawn my accumulated PF. After a month I got job became a PF member, served for 7 years; resigned but not completed 10 years service. I am more than 58. Will I get pension?

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790 Manish Chauhan May 6, 2013 at 5:38 pm

No , you need to have 10 yrs of service if you had EPF in a company

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791 S Srinivasan May 6, 2013 at 8:32 pm

Dear Sir

On obtaining VRS on 31/03/1999, I had withdrawn the accumulated PF during the period 1972 – 31/03/1999. I have with me the the scheme certificate issued by the PF authorities.

However, I got the job during middle May 1999, covered under PF immediately, resigned in June 2007. When I applied to withdrawn the PF, in fact I had applied for scheme certificate, however, they did not do so, in turn sent some amount.

Now I applied for PF pension, which was rejected.

Will I get the pension against first scheme certificate.

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792 Manish Chauhan May 10, 2013 at 4:43 pm

I think this needs lots of discussion , please open a thread at http://www.jagoinvestor.com/forum/

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793 Lokesh sharma April 30, 2013 at 12:05 pm

Hi Manish,

My problem is that My previous company has deducted EPF from my salary but it did not deposite to EPFO from 1-04-2011(last deposite day was 1-03-2011) to 01-05-2012 almost 13 months. What can i do for this aspects so i will get my epf money from company.
please help me and email me steps for this issue which will be take by myself.

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794 Lokesh sharma April 30, 2013 at 12:20 pm

Hi manish,
my previous company did not deposit epf amount to epfo office from 13 months and and it had deducted amount from my salary

what steps i need to take against the company ?

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795 Manish Chauhan May 6, 2013 at 5:32 pm

Complain to EPFO on this and registrar of companies

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796 dr. amit May 1, 2013 at 8:12 pm

hello manish.. thanks for the informative articles..
i am a medical officer in himachal pradesh government( regular service, comissioned in 2007) .
Currently my organization is providing me CPF( contributory pension fund), in which 10% of my basic pay is deducted each month, and supposedly same amount is contributed by the government.
please provide an article regarding CPF. On what amount would the compound interest be paid , and what if i quit my job early..
thanks..

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797 Manish Chauhan May 6, 2013 at 4:56 pm

Hi Amit

http://www.jagoinvestor.com/forum/ our forum is a right place to ask this

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798 samy jain May 6, 2013 at 12:02 pm

I had worked with my old employer for 3 years which ended on 7th May 2010, and after a break of almost one year, i have joined a new company in June 2011. I have never bothered to close my old PF account and got a new PF account with my current employer. I would like to get my old PF account to merge in my new PF account. Now my queries are:

1. Since i had worked only for 3 years with my old employer, whether my transferred balance from old PF to new PF attracts tax.

2. To avoid tax liability will the years I worked for old employer be clubbed with the years I worked for current year for tax exemption because I am planning to leave my current employer within few months (most likely by July this year).

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799 Manish Chauhan May 6, 2013 at 2:31 pm

Samy

1. No

2. Yes, past years will be counted !

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800 manish chandra May 10, 2013 at 11:22 am

mr. Manish, i am Manish from Amritsar and working for BSNL,, am yet to complete 4 years of service in the department, am married and planning to buy a house here,
my question is that can i withdraw some amount from EPF?, and if yes,, how?

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801 Manish Chauhan May 10, 2013 at 2:55 pm

Not yet , only after 5 yrs of service

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802 deepu May 16, 2013 at 6:34 pm

hi,
My pf account is in with a private PF trustee. I left the organisation. Can I withdraw the PF now? does same rule applicable for PF trustee?

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803 Manish Chauhan May 18, 2013 at 12:17 pm

Deepu

We are not aware of this at the moment, please take help on our forum – http://www.jagoinvestor.com/forum/

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804 Reni May 22, 2013 at 9:08 pm

This piece of information was of great help to understand the basic rules on EPF withdrawal :-)

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805 Manish Chauhan May 25, 2013 at 5:02 pm

Thanks Reni !

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806 Naresh Makwana May 23, 2013 at 10:26 am

Hi Manish,

I really appreciate your article. I have one complicated query. I worked for 14 months in one company and after that I left the company without any intimation for studying and then after 15 months I joined another company. I worked there for 18 months and then I left that company with intimation and proper resignation process. Now I am looking for new job. I would like to know whether 1) I can transfer my old PF amount to my last PF account. 2) If yes, then how?

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807 Manish Chauhan May 25, 2013 at 4:39 pm

YEs, you can transfer it , for transfer process you need to contact your current employer , also read thsi – http://www.jagoinvestor.com/2012/11/withdraw-your-epf-without-employer-signature.html

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808 Naresh Makwana May 25, 2013 at 5:31 pm

Hi Manish,

Thanks for your reply, however, it’s my fault that I was unable to mention my issue clearly. Actually I have two PF accounts for two different companies and I have not transferred one first PF account with second employer. So they opened another PF account. Now, I am joining new company. So, my question is can my third employer merge amount of both PF account into new account or I can give only one PF account number to them.? The reason is I don’t want to withdraw money from any account and want it to carry forward.

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809 Manish Chauhan May 25, 2013 at 5:50 pm

You can merge all 3 , actually its not merging , but transferring , Ask your employer to transfer 1st->3rd and 2nd->3rd !

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810 Karthikeyan chinnaswamy May 23, 2013 at 1:19 pm

Hi Manish Chauhan,

Thanks for clearing all Q’s. Excellent help you are doing:)

My total experience is 7 years.I am going toUS for an assignment. I will come after 2 years. In this case

Question1: what will happen to my current PF account? whether it will active or will get deactivated?

I am not sure whether PF contributions will continue till i come back. incase this case

Questi0n2: Till i come back If PF contributions is not going to happen what will be status of my PF account?

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811 Manish Chauhan May 25, 2013 at 4:36 pm

1. It will continue as it is , confirm from your company ,how are you getting salary in these 2 yrs , will EPF be deducted or not

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812 pjay May 23, 2013 at 1:37 pm

i joined a company on 18.11.1995 and still continuing with the same company. my basic salary is 16500. suppose if i take retirement now, what pension i will get from epf.

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813 Manish Chauhan May 25, 2013 at 4:34 pm

One cant tell it that way .. file a RTI to know this

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814 amit May 26, 2013 at 5:33 pm

i have left the job 3 yrs ago in 2010 now how i can get my pf money it is requested to send mail on my mail id amit.joshi709@gmail.com

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815 Manish Chauhan May 26, 2013 at 5:34 pm

File a withdrawal form for it

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816 Manish Chauhan June 1, 2013 at 10:09 am

You mean you want your PF money through us ?

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817 Srinivasan C May 27, 2013 at 7:52 pm

Manish,

Neatly written, very helpful article. Thank you.

Regards,
Srini

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818 sougato pal May 28, 2013 at 3:48 pm

Hi Manish
I changed my job last year. As per the process I have filed FORM 13 for PF transfer to my new organization. Within 3 months my PF amount has got transferred to new organization.
My question is there a seperate process for EPS transfer or it get automatically transferred when My PF was transferred.

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819 Manish Chauhan May 31, 2013 at 5:02 pm

THere is another form for that, didnt your employer give it you ?

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820 PRASHANT May 29, 2013 at 5:54 pm

Sir It was nice article I have one query I resigned from Job in Aug 2007 I then join other company after six months when i went to employer to get signature on PF form he simply refused & till date he has not signed on it ,what should i do now ? as per the article my PF a/c is i think undergone dormancy , what should i do now shall i take signature of bank official & proceed or what should i do now? please help me out

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821 Manish Chauhan May 31, 2013 at 4:35 pm

First tell your employer that you are complaining to CVO office at EPFO , He will come on line

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822 KNN May 31, 2013 at 5:28 pm

Hi Manish, that was a really nice article. I was actually looking for “Migration to other countries for permanent settlement” withdrawal details, but I could not find them in the above article. So here is my case, your reply would be greatly appreciated.

I have been working for 3 years and 4 months. My wife has been working for almost 4 years. I’m going abroad for my higher studies and my wife is coming along with me with a work permit. We both want to withdraw our EPF amount and I need your help to clarify my doubts.

1. Are we eligible to withdraw 100% of our PF amount?
2. If we are eligible for withdrawal, can we apply for it before getting relieved from the company?
3. We haven’t completed 5 years of service, so do we receive the employer’s contribution also in the withdrawal amount?
4. Will any tax be deducted on the PF amount that will be given?
5. Will no tax be deducted if we withdraw the PF amount after 5 years?

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823 Ajin Nair June 6, 2013 at 4:52 pm

Hi,
I googled a lot and believe that you are only able to solve this.
I fetched my PF detail from the new epf passbook site and got the following details:
Employee Share : 26860
Employer Share : 9086
Pension Fund : 16546

But when i transferred it to my new company , i received only 40k , what could be the reason.
Is the pension fund part not paid in case of transfer.

Many thanks,
Ajin

Reply

824 Manish Chauhan June 8, 2013 at 11:15 am

I guess you forgot to fill up the form relevent for the EPS fund transfer . Check with EPFO using RTI now

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825 Ashok June 11, 2013 at 3:48 pm

Hi Manish,

The information you provided is invaluable and answered a lot of my questions, thanks a lot for that but then I have a specific question from my case.
I have worked for a firm from Mar 2006 till Nov 2007 after which I got the EPF transfered to a new EPF a/c but then left the new company a month after joining, I need to understand if I can withdraw the EPF/EPS amount. Will the 6 months caluse apply in my case or as the EPF amount is transfered from my old a/c will it be treated a older than 6 months account?

Thanks,
Ashok.

Reply

826 Manish Chauhan June 14, 2013 at 11:16 am

No , it will not apply , because you transferred your old EPF to new one !

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827 Seema June 12, 2013 at 4:04 pm

Thanks Manish,these things are very helpful

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828 KNN June 13, 2013 at 2:20 pm

Hi Manish, that was a really nice article. I was actually looking for “Migration to other countries for permanent settlement” withdrawal details, but I could not find them in the above article. So here is my case, your reply would be greatly appreciated.
I have been working for 3 years and 4 months. My wife has been working for almost 4 years. I’m going abroad for my higher studies and my wife is coming along with me with a work permit. We both want to withdraw our EPF amount and I need your help to clarify my doubts.
1. Are we eligible to withdraw 100% of our PF amount?
2. If we are eligible for withdrawal, can we apply for it before getting relieved from the company?
3. We haven’t completed 5 years of service, so do we receive the employer’s contribution also in the withdrawal amount?
4. Will any tax be deducted on the PF amount that will be given?
5. Will no tax be deducted if we withdraw the PF amount after 5 years?

Reply

829 Manish Chauhan June 14, 2013 at 10:46 am

1. Yes, but it would be taxable

2. No , you can withdraw only if you are unemployed for more than 2 months , so your company will start the process after you leave for 2 months .

3. Yes, you do . But all the money is taxable, because its tax free only after 5 yrs

4. Yes, as per your income tax slab , all the money you get will become you income for the year

5. Yes

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830 Sneh June 18, 2013 at 12:30 pm

Many thanks for sharing the information, can you pl. help me in clearing one doubt-
If I am working for 11 years or 20 years , in both cases the amount of fund accumulated in pension fund (Rs. 541) will not matter as I will receive only fixed pension of Rs. 3250 per month after attaining age of 58 years. Is my observation correct ?

Reply

831 Manish Chauhan June 21, 2013 at 12:34 pm

Correct !

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832 JIm June 19, 2013 at 3:34 am

Hi,

I checked my PF balance in EPFO website and i got a message like
EE amount is 89000 and ER IS 58000 WORKED IN CTS FOR 4.7 YEARS NOW I HAVE SUBMITTED MY WITHDRAWL FORM HOW MUCH AMOUNT I CAN EXPECT INCLUDING INTREST

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833 Manish Chauhan June 21, 2013 at 12:10 pm

Thats the final amount !

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834 Kiran R. Bage June 19, 2013 at 2:50 pm

I have submitted Form 10 D for my pention and has been received by office on 08.03.2013 . Ihave received pf claim. and in case of pension web sight showing claim is under process. please let me know when i will get pension

Reply

835 Manish Chauhan June 21, 2013 at 11:55 am

Only RTI will help in your case !

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836 krishna June 22, 2013 at 12:36 pm

Just to add to Point 4, at Rp 541 per month one will be investing only 6492 in a year in the pension scheme. So after ten years it will be 65000/-. When you say the amount in pension scheme is one lakh, you become already eligible for Pension ( at 6500/- ) per month.
However with the table that is there you are not loosing any money. So if you plan to remove the money after six years you are trying to protect the capital as such.

Reply

837 Manish Chauhan July 1, 2013 at 5:22 pm

Thanks for sharing that Krishna !

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838 Rajiv Dutta June 25, 2013 at 5:34 pm

Hi, I need your advice. I had work in a company for more than 10 years and withdraw EPF but not EPS. Here my question is shall I get money EPS money now, if not can I transfer this to current company or can I get certificate. Thanks Rajiv Dutta

Reply

839 Manish Chauhan July 1, 2013 at 4:58 pm

Yes, you can get it transferred to new company !

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840 sunita joshi July 1, 2013 at 2:03 pm

Hi Manish,
I have served in a company for 14 years at a stretch and now after leaving it, I want to withdraw my EPF and EPS. Will I be allowed to withdraw my EPS, that is, my pension amount? I am less than 40 years of age.
If not, then when? Also, if not, then I should not fill up Form 10C for EPS, right?

Thanks!

Reply

841 Manish Chauhan July 1, 2013 at 2:17 pm

Yes, it will be allowed, getting pension is an option, not a compulsion ! . File the Form 10C also and in next 4-5 months, follow up with RTI once !

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842 Shailley July 3, 2013 at 5:31 pm

Hi,

It was very informative.
However, now I would like to have your suggestion regarding the same. I have switched prev org after 2.5 years of tenure. Now should I get the EPF+EPS transferred to my new organisations PF acoount or should I withdraw it?
Will the complete amount be transferred & how can I know the complete amount getting transferred?

Regards,
Shailley

Reply

843 Manish Chauhan July 5, 2013 at 10:07 am

Get it transferred !

Reply

844 Ramesh July 5, 2013 at 10:33 am

Hi Sir,

I have started pf transfer from previous company to the present company . now situation is this that i have to leave the present company also and my pf transfer is not yet completed. So please suggest what should i do when i leave the present company. Should i leave the company and wait for transfer to happen and then close it or please suggest……….

Reply

845 Manish Chauhan July 5, 2013 at 10:47 am

Not to worry . Leave this org and then re file the transfer papers .

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846 Ramesh July 5, 2013 at 1:01 pm

thanks but the things i m going to do to my own things and that would mean i won’t have the new pf account…..So i just wanted to ensure my understanding that i should not generate pf closer request until it get transfer to the new organisation pf account….

Reply

847 Manish Chauhan July 15, 2013 at 2:30 pm

Ramesh

I suggeest filing a RTI in that case and asking them your doubts !

Reply

848 T R Mishra July 5, 2013 at 3:51 pm

whether the EPF deduction is applicable or statutory for contractual employees in Govt. or Govt. PSUs where there is no EPF acount.

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849 Manish Chauhan July 15, 2013 at 2:26 pm

They have their own kind of PF !

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850 Pulkit July 11, 2013 at 10:48 pm

Hi, very informative. I have a query. I worked at my first company for less than 6 months. I then transferred the PF at that company to the new company’s PF account. I do not see the transfer of the pension part in my PF statement of the new company’s PF account. Is that supposed to happen or an error?

These are the two entries corresponding to the transfer:

01/12/2011 –> Member VDR Serial No.-: 1 VDR CODE:TRANSFER IN (Old Member Id-:DLCPM0024754000)

01/03/2012 –> Member VDR Serial No.-: 2 VDR CODE:TRANSFER IN – INTEREST AMOUNT ONLY(Old Member Id-:DLCPM0024754000)

Could you help me understand why there are two, and what the second one is for?

Many thanks.

Reply

851 Manish Chauhan July 15, 2013 at 1:28 pm

Only a RTI application will be able to give you right answer on this

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852 Mohammed July 16, 2013 at 12:11 pm

Manish Chauhan-
I worked for a Telecom based company, the parent company in USA has gone bankrupt and the Indian subsidiary company shutdown the operations without any intimation, there is no exit procedure for the employees, no Packages/terminations/form16 /signed PF document for 350 people include me.
I joined this company Sep 2008 and company shutdown on May 17th 2013.until today I didn’t find a new job it might be take another 1 month or so. Could you please let me know the process needs to follow to withdraw my PF money?
The questions I have are
1. We don’t have employer signed PF documents
2. When can I request for withdraw?
3. Any taxes on withdraw PF?
4. Can I get 100% EPF and EPS?

Reply

853 Manish Chauhan July 18, 2013 at 3:28 pm

I would say do not worry . What you should worry is – “Did your company pay your EPF money to EPFO or not?” I would have filed a RTI if I was in your place and have asked these things to EPFO

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854 Mona July 18, 2013 at 11:53 pm

Manish, thanks! It was very informative.
Couple of queries:
1. As you mentioned, that a person who has never held a PF account can opt out of EPF scheme by signing form 11 – Does signing form 11 by any chance mean that he/she can never be a part of EPF scheme again?
2. If one chooses to opt out of EPF scheme – Is he/she eligible to receive the employer’s contribution portion as part of his/her monthly salary?

Reply

855 Manish Chauhan July 20, 2013 at 1:57 pm

1. NO you can join later

2. No .

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856 Mona July 20, 2013 at 11:36 pm

2. But since the CTC given by most of the private companies includes the company’s contribution towards PF – then, shouldn’t this come as part of our salaries if we opt out of PF scheme?

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857 Manish Chauhan July 29, 2013 at 6:06 pm

Why MONA ? They offer it as part of CTC only when you are part of EPF ,else that component will not be there !

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858 Naishadh July 25, 2013 at 6:36 pm

Good informative article Manish.

My query is if I take loan from EPF for constructing or buying a site, it will be non-repayable loan I believe. Can I make it repayable? If yes, how and will there be any interest rate applicable? Is it wise to opt for repayable against non-repayable?

I think repayable is better as we get opportunity to invest in tax-free savings (i.e. PF interest).

Please clarify.

Thanks
Naishadh

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859 Manish Chauhan July 29, 2013 at 5:53 pm

I dont think so , there is nothing called loan in EPF as far as I know

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860 Shailesh July 29, 2013 at 1:23 pm

Hello Manish,

I quit my job on 16 April 2013 and applied for PF withdrawal on 11 July 2013. I got the PF money in my bank account on 24 July 2013. After doing all my calculations, it looks like the PF department did not give any interest for the months of June and July 2013. Is that ok?

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861 Manish Chauhan July 29, 2013 at 5:04 pm

It might happen that EPFO settled your money around May (it goes to SBI) and then SBI makes you payment, so there was 2 months delay there.

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862 Shailesh July 29, 2013 at 5:32 pm

Hello Manish,

I applied for withdrawal on 11 July 2013 so EPFO could have not settled my account in May. My question is why EPFO did not give me interest for the months of June 2013 and July 2013? I quit my job in April 2013.

thanks.

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863 Anisha July 31, 2013 at 3:51 pm

Hi,

U mentioned that PF can be withdrawn for marriage / education / medical treatment.
Is it allowed only if we complete 7 years of service or can we withdraw before completion of 7 years ??

Thanks in advance.

Reply

864 Manish Chauhan July 31, 2013 at 5:02 pm

I am not sure of the exact rule , but you will have to check for the rules in EPFO

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865 Rekha August 2, 2013 at 4:09 pm

Hi Sir,

I have completed 9.4years in the present company, my total EPF is Rs.80413/-(incl both EE & ER)pls pls advise is it worth of choosing pension scheme. If yes pls advise how much pension amt i will get per month.

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866 Manish Chauhan August 5, 2013 at 12:17 pm

You will get pension only once you complete 60 yr of age . Not before that .

Also the pension would be very small with this much amount, may few hundred !

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867 B ANIL KUMAR August 1, 2013 at 9:42 am

My package is 8962 per month in that Basic is 6500. as per PF deduction(12%) deduction from my salary is 738 but my company is deducting around 1500 that means they are deducting companies contribution also from our salary is it correct. as per my knowledge i have to pay 738 only and company has to pay remaining 738 but i dont know whats happening so kindly inform me is it correct or not if they are deducting more where i have to complaint please inform it will be helpful to 150 employs

Reply

868 Manish Chauhan August 5, 2013 at 1:14 pm

Most of the company include their contribution in the CTC mentioned . So nothing wrong in it . You accepted the offer

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869 Abhay August 6, 2013 at 2:56 pm

Dear Sir,
I am going to abroad (Saudi) for job and i have running EPF a/c , i wants to continue this a/c can this possible. Please suggest me , Thanks

Reply

870 Manish Chauhan August 9, 2013 at 10:36 am

No , it will be there for 3 yrs and then it will become inactive !

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871 Abhay Nadgir August 7, 2013 at 11:30 am

Hi,

I shifted to new company after working for 4 years and I transferred my PF to the new company’s PF account. My old company paid Rs 141012 (EPF 112857+ EPS 28155). The PF office transferred only Rs 133297 to my new account.
Can you please let me know why there is difference amount of Rs 7715?

Thanks,
Abhay

Reply

872 Abhay Nadgir August 7, 2013 at 11:59 am

Also, haven’t they calculated the interest?

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873 Manish Chauhan August 9, 2013 at 10:11 am

Hi Abhay

I strongly suggest filing a RTI, because otherwise you will not get proper answer !

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874 Ankur August 13, 2013 at 12:13 pm

Great article manish, very useful for everyone….

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875 Manish Chauhan August 21, 2013 at 2:43 pm

Thanks

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876 ravindra Ghorpade August 13, 2013 at 6:14 pm

Dear Sir,

Recently i have left the company and i want to applied for pf withdrawal within 2 month.this can be possible or not.if possible then what is the process for that..kindly help me regarding this because i’m very confuse.

Reply

877 Manish Chauhan August 21, 2013 at 2:40 pm

You can get it only after 2 months . But even then the delay can happen and in case it happens , its suggested to take help of RTI !

Reply

878 Ram August 14, 2013 at 2:26 am

Nice information.. Specially the withdrawal for home loan.

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879 Manish Chauhan August 21, 2013 at 2:25 pm

Thanks

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880 Ramanan Menon August 15, 2013 at 7:57 pm

I had a break (retrenchment) in service in 1997. My date of Birth 24.11.1954. I claimed my pension during 2004 and I am getting Monthly pension of Rs.874/=( period of service 1978 to 1997).

I joined another service during 1997 and retired November 2012. Can I claim /entitled for EPF pension of 1995. Are there any duplicity in claiming both the pensions. Will the PF club both the pension entitlement and give a cumulative amount.
Please guide..
Thanks
Menon

Reply

881 Manish Chauhan August 21, 2013 at 2:07 pm

Menon

Please open a thread to discuss here – http://www.jagoinvestor.com/forum/

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882 Ajit G August 15, 2013 at 8:55 pm

I have retired and am about to withdraw my EPF balance of Rs.75 lakhs. Which date is best to submit Form 19 to reduce loss of interest during processing of my withdrawal application? Upto which date is interest paid? Please send advice to my email id gmajit@gmail.com.
Ajit

Reply

883 Manish Chauhan August 21, 2013 at 2:04 pm

Anytime is good . It will anyways take months to get it processes. As the amount is high , expect the delays . but later please file a RTI application !

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884 Ajit G August 21, 2013 at 4:22 pm

I read that they will pay interest till the month of authorisation. And if authorisation date is after 25, interest for that month will also be paid.
Please clarify.
Ajit

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885 Gaurav Garg August 19, 2013 at 1:14 pm

HI Manish,

Thanks for a very informative post.

Just 1 query – Your article informs that one can withdraw only once for buying a plot. I work for a private organization who maintains a PF trust. Cann’t I withdraw now and again if I join another company after a few years? Do the Trusts pass on this information to EPFO?

Please let me know.
Regards,
Gaurav

Reply

886 Manish Chauhan August 21, 2013 at 1:01 pm

I am not very sure on that . Better check on our forum

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887 Sundar August 19, 2013 at 2:54 pm

Nice Article.

I need to clarify the Fourth Point, about EPF/ EPS Money.

As you said, 6500*6.4 = 41600 is O.K. But my Calculation as per Employer’s Contribution (541*12)*6 = 38952. But the Amount received as Withdrawal is around 42 Thousand.

Is your Calculation is correct ?

Kindly clarify.

Regards

S.SomaSundaram – HRD

Reply

888 Manish Chauhan August 21, 2013 at 12:58 pm

there will be interest also . right !

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889 SomaSundaram August 21, 2013 at 1:18 pm

Mr.Manish,

But the third point itself, the Article says that there is not interest for the EPS Money.

Kindly clarify.

Regards

S.SomaSundaram – HRD

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890 Manish Chauhan August 21, 2013 at 1:31 pm

Ohh its EPS . I think you should file a RTI On this to get the exact answer. We will just be guessing here if I try to answer !

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891 SomaSundaram August 22, 2013 at 10:04 am

Mr.Manish,

You are right.

I will try.

Regards

S.SomaSundaram – HRD

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892 Tushar August 22, 2013 at 3:44 pm

Hello Manish, thanks for great info,
I have question does paying EPF is mandetory for all orgnaisations i knw few they do not pay EPF for there employees.

Regards
Tushar.

Reply

893 Manish Chauhan August 29, 2013 at 3:02 pm

Its compulsory for all companies more than 20 employees

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894 Satish August 23, 2013 at 1:34 pm

Hello Manish
I have resigned from my present company and would be joining another soon. I have served 6.5 years of service here. Should I transfer my PF account or withdraw it? Some people say it is better to withdraw and some say it s safer to transfer? What do you suggest me ?

Reply

895 Manish Chauhan August 29, 2013 at 2:40 pm

Its a choice . If you withdraw – you will blow it for some reason !

If you transfer,it will not be easily in reach so it will be like compulsory saving for future. You decide !

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896 niteen August 23, 2013 at 6:58 pm

That is such an informative read! Else EPF and EPS is like blackbox, and most of us doesn’t know what lies inside!

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897 Manish Chauhan August 29, 2013 at 2:10 pm

thanks Niteen

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898 Praveen Dehsmukh August 26, 2013 at 3:41 pm

I download EPF Member passbook today from http://members.epfoservices.in
but its shows record from 01/04/2011 to 04/04/2012 . how can I view records till current month.

Reply

899 Manish Chauhan August 29, 2013 at 11:08 am

Using RTI

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900 Praveen Dehsmukh August 26, 2013 at 3:46 pm

I left the organization previous organization two months back and joined new company. Please suggest what will be beneficial to withdraw my PF or transfer to new organization. In case of withdrawal will I get full amount and interest or there will be some loss.

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901 Manish Chauhan August 29, 2013 at 11:08 am

Better transfer it

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902 Shashank August 28, 2013 at 6:17 pm

Hi Manish, Appreciate the very good article by you. I have a query regarding TDS deduction on epf withdrawal. I worked for a little over 2 years and resigned in 09/2010, to pursue my own interest. Since then I have not withdrawn my epf. As I understand TDS is deducted on withdrawal if there is no continuous service for 5 years (TDS is based on last salary tax bracket), Is there any way / rule by which I can prevent the TDS (as in my case 30%) if I withdraw now or later in september i.e after more than 5 years of joining. Appreciate your response. Thanks

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903 Manish Chauhan August 28, 2013 at 8:27 pm

If you withdraw after 5 yrs of EPF account in existance , I dont think there should be any TDS cut . I left my job in Yahoo after 3.5 yrs and there was no TDS cut . Who told you that there is any TDS cut ?

Manish

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904 Shashank August 29, 2013 at 4:08 pm

Hi, Manish , Thanks for your reply, I have spoken to the person who is responsible for EPF withdrawal (epf trust managed by the company) in my company and he told me that it doesn’t matter as to after which time you withdraw 5yrs or 10 yrs, what matters is your length of service, which in my case in slightly more than 2 year. Only TDS exemption would be there for employee contribution part to the extent not claimed for 80c deduction. Do you know any specific epf rule that I can refer to them to claim exemption? since TDS is a good amount to the tune of 2 lacs and I am apprehensive that getting it back from IT dept. is extremely difficult.. regards…shashank

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905 Manish Chauhan August 29, 2013 at 4:16 pm

No , in that case what he is saying is Final

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906 manish Sahu August 28, 2013 at 11:14 pm

Hi,

I have one doubt,pls once confirm me, I had applied for PF A/c transfer from old company into my current company, I filled the application form-13,and got transferred amount after long time of 9 months,But there is big difference in the amount while calculating and comparing the amount with downloaded PF passbook details and given Annexuture -K details from PF office. As per my doubt is that while we are getting transfer of PF amount on that same time they dont transfer out EPS amount. So please once confirm to me this.

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907 Manish Chauhan August 29, 2013 at 10:34 am

The best thing would be to file a RTI and ask what was the procedure to calculate the amount.

Manish

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908 manish sahu August 29, 2013 at 10:56 pm

Hi,
Pls confirm to me that EPS transfer also happen while we apply for the PF transfer. If this is not so what is way to apply for the EPS transfer or withdrawl.

Reply

909 Manish Chauhan September 3, 2013 at 2:30 pm

You have to fill up a seperate form called Form 13 . That is generally given to you by employer !

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910 Somen Bhattacharya August 30, 2013 at 9:05 pm

I’m working in Pune. I’ve 3.1 yrs service record in Company when I left the company i.e. on 6th sep 2011. I’ve send my PF withdraw form on 13th Aug 2013 but company has deducted
30.90 % tax from the PF amount and they are showing the cause that I’ve only 3.1 yrs service record in Company that’s why they are deducting the tax, if I continue my job in Company for 5 yrs then the tax would not be deducted. But I’ve submitted the withdrawal form after 5 yrs, still the company is denying that. I like to know that whether they are correct in this issue or not. If they are not correctly saying then what can I do to retrieved my deducted amount ? please let me know as soon as possible.

My PF A/C open Aug 2008 and left the company 6-Sep-2011, send my PF withdraw form on 13th Aug 2013.

Please share EPS calculation details.
 Total service period – 3.1 yr(37 Months). 541/- every month deducted.

Reply

911 Manish Chauhan September 3, 2013 at 2:12 pm

You should have 5 yrs of SERVICE !

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912 Somen Bhattacharya September 5, 2013 at 10:00 pm

5 yrs of Service is counted or PF A/C opening is counted.
Please share EPS calculation details.
Total service period – 3.1 yr(37 Months). 541/- every month deducted.

Reply

913 Manish Chauhan September 7, 2013 at 12:57 pm

It should be service period

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914 Somen September 7, 2013 at 1:51 pm

Hi, Manish , Thanks for your reply.
Total service period – 3.1 yr(37 Months). 541/- every month deducted.
How much EPF amount i will get.

Reply

915 Manish Chauhan September 7, 2013 at 4:50 pm

Somen

The best thing you can do is check your EPF balance through RTI first !

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916 Purushotham September 3, 2013 at 11:59 am

Hi Manish – thanks for the article. Very informative.

I have a tricky question – let’s say that i change the job now. Now I know there are two parts like EPF and EPS. What if I don’t want to withdraw EPF and transfer to next employer (as interest given to this) and JUST withdraw only EPS part as interest not given? Is there any provision like that? :)

thanks,
Purushotham

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917 Manish Chauhan September 3, 2013 at 12:18 pm

No there is no provision like that .

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918 Chinmoy Kumar Padhi September 4, 2013 at 10:08 am

Thanks Manish , for a such a wonderful and detail information.

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919 Manish Chauhan September 7, 2013 at 5:32 pm

Thanks Chinmoy !

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920 Purushotham September 4, 2013 at 7:05 pm

ok thanks Manish.

That means either withdraw (i.e EPF and EPS) when I change a job or leave it continue. Let’s say that I don’t withdraw now and in the job I have crossed 10 years – if I change a job after 10 years can i withdraw EPF fully and they won’t give EPS right?

Btw, how is this 10 years calculated – is it total work duration or just the duration for which you have been member of EPFO with the existing account?

Thanks,
Purushotham

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921 Manish Chauhan September 7, 2013 at 5:11 pm

The duration is your continuous service (of all companies) . You can withdraw EPS anytime .

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922 Srinivasan September 10, 2013 at 6:53 pm

From what I have read, you cease to exercise the option of withdrawal of EPS after 10 years of service.

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923 Harish September 7, 2013 at 2:09 pm

Hi Manish,
I have worked for 35 months(2.11 yrs) in an organization, last month i have withdrawn the my EPF amount. My basic salary was Rs.6500 and EPF for every month in Rs.780+ Rs.229(Employers share).
But, I want to know how to withdraw the pension fund amount , what form i have to submit. I had filled and submitted Form 19 and Form 10-c during the claiming my EPF.

kindly suggest me……

Reply

924 Manish Chauhan September 7, 2013 at 4:49 pm

Its form 13 I guess

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925 Harish September 10, 2013 at 2:10 pm

But, Form 13 is for For transferring the Provident Fund account of a member from one establishment to another establishment covered under the act / scheme.

But, need to withdraw my pension fund, since I worked for 3 yrs only. currently I am not working so,,,,,

I request you to suggest me what i have to do to claim my Pension amount of Rs,18,900 .

Reply

926 Harish September 12, 2013 at 8:02 pm

But, Form 13 is for For transferring the Provident Fund account of a member from one establishment to another establishment covered under the act / scheme.

But, need to withdraw my pension fund, since I worked for 3 yrs only. currently I am not working so,,,,,

I request you to suggest me what i have to do to claim my Pension amount of Rs,18,900 .

Reply

927 Venkat September 9, 2013 at 12:13 am

Hi Manish
I have went through your article regarding epf .It is really gud and i have learnt lot many things from it.
I have few questions please clarify me.I have worked in a organization from 28-JAN-2010 to 10-Jun-2013.
I am not working currently but i will be joining new org on 16-sep-2013 and i want to transfer the existing pf account to this new org account.
Below is my EPF Passbook stmt
Employee Share : 54468
Employer Share : 31285
Pension Fund : 21995

I want to pursue higher studies also if possible i will be going by end of january 2014.

I see that from one of your conversation Employee PF is taxable below 5 years and i would be getting less after TDS waiving.

So suggest me whether to withdraw the amount or take a loan on my PF amount and am i eligible for this loan amount so that i would not loose my amount.

My last salary amount is 23,461 and my total work experience is 3.4 years.My question how much EPF and EPS would i get

as i did not understand regarding Table D and as u said TDS would be waived if PF is withdrawn below 5 years.

As per ur response for other people u said below 10 years of service only u can withdraw EPS and after 10 years

u will be eligible for pension and u cannot withdraw EPS.Please calrify me if my above statmt is right?

So if i withdraw now EPF and EPS amount and after my pursuing higher studies and after if i join new org

a) Can i use the same pf account as i dont know how many years this account will be if i do not use and

b) in the next org if i start working and after 10 years again from that time only will i be eligible for pension or the 3.4 years

before will be taken into consideration for pension liability so that in the new organization if i work for 6.8 years

then i would be eligible for pension?

c) how many years of gap can be possible to use this same pf account again

d) As per ur replies we get partial amount of EPS and let me know what happens to the rest of the amount and when can we get back this amount

and when i join new org and transfer this pf account will the remaining eps account would be transferred if i withdraw the epf and eps

amount as i stated earlier

e) My employer has given form 19 and form 10c for withdrawl?Are they sufficent for both EPF+EPS withdrawl?

Please suggest me how to use wholey my epf+eps amount for my higher studies i mean whether to withdraw or to take a loan

also clarify me loan is given on epf amount or epf+eps amount and where and how to apply for that process

One last query as u said after 58 years only u get pension amount and it clearly says that no interest on eps

so 541 * no of months we worked till 58 years = total eps and if i have not withdrawn till 10 years and i am liable

so do we get this total amount once or in monthly basis and also please clarify me as stated above if we take a loan

or withdraw PF regarding the liability again for pension amount?

It would be very helful for me.

Please clarify me on this .

Reply

928 Manish Chauhan September 18, 2013 at 9:09 am

PLease open a thread on forum to discuss this and keep your questions short – http://www.jagoinvestor.com/forum/

Reply

929 Mandeep Singh September 9, 2013 at 3:02 am

Dear Manish,

In case some employees (contractual employee who sign employment contracts for say 4-6 months) do not want to be a part of the epf scheme, how must the employer tackle this one. do they need to give any declaration etc

Appreciate your advise in this matter.

Reply

930 Manish Chauhan September 18, 2013 at 9:09 am

I am not aware about it . Please open a thread on our forum for discussing this http://www.jagoinvestor.com/forum/

Reply

931 Muneer K.V September 10, 2013 at 4:03 pm

Hi Manish,

i transffered my balance in previous PF account in to the new account, EPS contribution of my previous employer is not transffered in to the new account.
why this amount is not transffered and how can i get the details of this amount?

Reply

932 Manish Chauhan September 18, 2013 at 8:53 am

DId you fill form 13 ?

Reply

933 Muneer K.V September 18, 2013 at 9:36 am

yes

Reply

934 Srinivasan September 10, 2013 at 6:50 pm

Hi Manish,

Very Good article and quite informative.Need help with my understanding.

I was previously working in a company for 7 years.My Previous company had its own private PF trust and monthly contributions were credited to this trust.

When I switched my Job, I had transferred my PF to my new company.On checking the PF balance on accession the EPF e-passbook , I could see the amount towards employer and employee contributions being transferred but the contributions to EPS are nor shown?
My questions.

1. Does the EPS balance get transferred automatically when we request for transfer of PF?
2.If Yes, then why it is not updated in the EPass book?
3. If No, then what to do with the balance in EPS?

Reply

935 Manish Chauhan September 18, 2013 at 8:47 am

You need to fill up form 13 for that, but when employer gives you the forms to fill, they generally give that one too

Reply

936 Srinivas September 17, 2013 at 5:27 pm

Good information. I have one query which was not covered in your article. Where the pension part of the fund (i.e. 8.33% of employer contribution) finally rest in after the death of the employee and his/her spouse. Will the corpus amount be given to dependants or not. Please clarify.

Reply

937 Manish Chauhan September 17, 2013 at 6:35 pm

WHen you apply for pension (when you fill up the form), you are asked the method , means pension with maturity sum to be given to your family (in which case pension will be lower) or you want more pension, but no payment back ! . Its your choice !

Reply

938 Manish Sahu September 22, 2013 at 5:56 pm

Hi Manish,
I have received my PF amount transfer into new company PF account after 9 months.
But EPS amount is not get credited into new account.same thing i asked by PF grievance online but they are replying comments like “In respect of EPS, only service particulars will be informed through Annexure K for adding into your present account when your PF amount was transferred and no funds will be transferred. There is no need to apply again for transferring EPS since the same has been added to your new account since the pension/withdrawal benefit is based only of the number of years of service rendered.”

So please suggest me how can i get transfer EPS amount into new account .

Regards,
Manish

Reply

939 Manish Chauhan September 25, 2013 at 1:49 pm

Have you worked for continuous 10 yrs ? If yes, then you cant withdraw it now . I suggest take help of RTI now for asking anything related to your EPF !

Reply

940 Manoranjan Mahakud September 23, 2013 at 7:57 pm

Dear Sir,

The article is wonderful and gives clarity on a lot of queries which any layman would have with respect to EPF. However I am still looking for answers to one query:

I worked for an organisation for exactly 12 years and resigned. Now when I am trying to withdraw my EPF and EPS amount, I came to know that I am not eligible to withdraw my EPS amount till I reach the age of 58 since my employer has contributed EPS for more then 10 years. Now my questions are:

1. Can I withdraw my EPF amount?
2. What happens to my EPS amount and what is the process to withdraw this amount?
3. Suppose I wait till I attain 58 years, then what is the process to withdraw the EPS amount. Do I still need to route my withdrawal application through my last employer? What if my last employer cease to exist at that point in time?
4. How do I know how much is my EPS amount till date?
5. Under such a circumstance can I choose to withdraw my EPF and transfer my EPS once I get a new job? What will be the process then, what all forms need to be submitted and whom do I route it through?

Looking forward to some satisfactory reply and help.

regards
M Mahakud

Reply

941 Manish Chauhan September 24, 2013 at 7:28 pm

Yes, you can withdraw your EPF , but not EPS amount . You should file a RTI to EPFO asking for all numbers and queries. you will get correct numbers from them .

Reply

942 pendse ajay krishnaji October 3, 2013 at 11:39 am

I am looking for purchasing of flat , i have some querries in mind , pl guide
1. I am withdrawing for thre first time from my EPF account
can i get withdraw total amount from epf ie emplyer stake and employee stake standing currently on my epf account approx amt . I have heard some confusion in emplyer stake & emplyee stake
2. If so how much % can i get

Reply

943 Manish Chauhan October 7, 2013 at 8:03 am

As shared in the article itself

– The maximum amount you can avail of is 36 times your wages. To buy a site or plot, the amount is 24 times your salary.

Reply

944 sanjay patidar October 5, 2013 at 10:50 am

Dear Manish,

Well done, u have collected a lot of information through efforts, Its a very nice article. True, very few no the rules of EPF.
With regards
Sanjay Patidar

Reply

945 Manish Chauhan October 7, 2013 at 7:45 am

Thanks :)

Reply

946 Milind Shah October 7, 2013 at 11:49 am

Dear Manish,
Very informative and exhaustive article.
Just wanted to know a couple of things. I had completed 2 years and 9 months when I left my job in August 2013.
1. How much EPS will I get? 2.05% or 3.1%. The amount accumulated in EPS is