10 hidden EPF Rules – Employee Provident Fund

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.

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.



By Manish Chauhan on May 14, 2012 · Posted in EPF - Employee Provident Fund

Tags: ,

1,047 Comments | Post Comment

Sathish says:

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

Posted on May 14th, 2012

Ankur says:

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

Posted on May 14th, 2012

Arun says:

Very useful information. Thanks a lot sir.

Posted on May 14th, 2012

Ronak says:

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

Posted on May 14th, 2012

Rachit says:

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

Posted on May 14th, 2012

Siva Mohan says:

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

Posted on May 14th, 2012

Krishna says:

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

Posted on May 14th, 2012

Sharat Trehan says:

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

Posted on May 14th, 2012

Dhanesh Chakraborty says:

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

Posted on May 14th, 2012

Rachit says:

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

Posted on May 14th, 2012

Kranti Goyal says:

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

Posted on May 14th, 2012

Poonam says:

Very useful information. Thanks.

Regards,
Poonam.

Posted on May 14th, 2012

Pro Money Investor says:

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.

Posted on May 14th, 2012

Amol says:

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

Posted on May 14th, 2012

NARAYANAN says:

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 ?

Posted on May 14th, 2012

sri says:

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.

Posted on May 14th, 2012

Pranav says:

Thanks for sharing…..

Posted on May 14th, 2012

Kshitij says:

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)?

Posted on May 14th, 2012

Umesh Dwivedi says:

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.

Posted on May 14th, 2012

jake says:

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?

Posted on May 14th, 2012

Ganesh Balasundaram says:

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

Posted on May 14th, 2012

Sylvestor says:

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

Posted on May 14th, 2012

Shrenik says:

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.

Posted on May 14th, 2012

SHYAM says:

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

Posted on May 14th, 2012

Deep Vineet says:

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.

Posted on May 14th, 2012

PATHY says:

Hi MANISH GOOD INFORMATION CLARITY ON PENSION CALCULATION AFTER 58 YRS

Posted on May 14th, 2012

Anurag says:

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

Posted on May 14th, 2012

Vishnu Agarwal says:

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

Posted on May 14th, 2012

Vishnu Agarwal says:

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

Posted on May 14th, 2012

Vishnu Agarwal says:

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

Posted on May 14th, 2012

Sundeep Gupta says:

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)

Posted on May 14th, 2012

Nita says:

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

Posted on May 14th, 2012

ravindra says:

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

Posted on May 14th, 2012

Kapil says:

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

Posted on May 14th, 2012

Koganti Srinivasa Rao says:

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.

Posted on May 14th, 2012

SURESAN RAJA says:

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,

Posted on May 14th, 2012

SURESAN RAJA says:

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

Posted on May 14th, 2012

Sandip says:

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?

Posted on May 14th, 2012

Sharat Trehan says:

Dear Vishnu,

Thanks for the prompt reply and the useful links.

Regards

Sharat

Posted on May 14th, 2012

PATEL BHAVESH says:

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

Posted on May 14th, 2012

Paddu says:

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.]

Posted on May 14th, 2012

Anurag says:

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,

Posted on May 14th, 2012

Paddu says:

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!

Posted on May 14th, 2012

Paddu says:

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

Posted on May 14th, 2012

Bishal says:

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

Posted on May 14th, 2012

Bishal says:

Sorry, I meant EPF and EPS.

Posted on May 14th, 2012

Roshni Nayak says:

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

Posted on May 14th, 2012

Paddu says:

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!

Posted on May 14th, 2012

Paddu says:

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?

Posted on May 14th, 2012

Charu Gupta says:

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!

Posted on May 14th, 2012

Veeraf says:

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,

Posted on May 14th, 2012

Satish says:

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

Dr.Satish (Hyderabad)

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Praveen says:

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?

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

Thanks for those points Rashmi

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

Posted on May 14th, 2012

Manish Chauhan says:

Its only for India

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

Welcome Bhavesh

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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 !

Posted on May 14th, 2012

Manish Chauhan says:

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 !

Posted on May 14th, 2012

Sushil says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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 !

Posted on May 14th, 2012

Manish Chauhan says:

Good to hear that Sushil .. keep it up

Posted on May 14th, 2012

Manish Chauhan says:

Done Kapil !

Posted on May 14th, 2012

Manish Chauhan says:

Welcome !

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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 !

Posted on May 14th, 2012

Manish Chauhan says:

Anurag

You can follow these

http://www.rtiindia.org/forum/19466-how-withdraw-pf-without-signing-previous-employer.html
http://www.jagoinvestor.com/forum/epf-account-transfer-issue/2892/
http://www.jagoinvestor.com/forum/transfer-of-epf-account/234/

Posted on May 14th, 2012

Manish Chauhan says:

Pathy

Please post your questions in simple words !

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

Shaym

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

Changed !

Posted on May 14th, 2012

Manish Chauhan says:

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/

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

Sri

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

Posted on May 14th, 2012

Manish Chauhan says:

Narayanan

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

Posted on May 14th, 2012

C.R.KESAVAN says:

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.

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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 ?

Posted on May 14th, 2012

Manish Chauhan says:

Thanks Poonam

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

NARAYANAN says:

Thanks Manish.

Keep up this good job.

Posted on May 14th, 2012

Manish Chauhan says:

Yes

Posted on May 14th, 2012

Manish Chauhan says:

Rachit

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

Krishna

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

SUre

Posted on May 14th, 2012

Manish Chauhan says:

Thanks Ronak !

Posted on May 14th, 2012

Manish Chauhan says:

Thanks Arun !

Posted on May 14th, 2012

Manoj says:

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?

Posted on May 14th, 2012

Manish Chauhan says:

Thanks Ankur … what else did you learn from post !

Posted on May 14th, 2012

Manish Chauhan says:

Now you can take use of it !

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Pavan says:

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.

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Pavan says:

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 ?

Posted on May 14th, 2012

Vineet says:

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?

Posted on May 14th, 2012

Vineet says:

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?

Posted on May 14th, 2012

Suresh Kr. Ray says:

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

Posted on May 14th, 2012

Sachin says:

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?

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

Thanks Suresh . Keep reading !

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Posted on May 14th, 2012

Manish Chauhan says:

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

Manish

Posted on May 14th, 2012

Sudhanshu says:

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 ?

Posted on May 15th, 2012

Viswa says:

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.

Posted on May 15th, 2012

Sukesh Choudhary says:

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

Posted on May 15th, 2012

Kannadasan says:

Hey Manish,

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

Posted on May 15th, 2012

Venkatesh says:

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

Posted on May 15th, 2012

SURESAN RAJA says:

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,

Posted on May 15th, 2012

Manoj says:

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.

Posted on May 15th, 2012

Siva Mohan says:

Thank you very much for the reply Kranti & Manish.

Posted on May 15th, 2012

Suresh K Narula says:

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.

Posted on May 15th, 2012

Manish Chauhan says:

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

Posted on May 15th, 2012

pari says:

Very informative article!

Posted on May 15th, 2012

Mehul Naik says:

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.

Posted on May 15th, 2012

pophale says:

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?

Posted on May 15th, 2012

Santosh Prasad says:

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.

Posted on May 15th, 2012

Santosh Prasad says:

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.

Posted on May 15th, 2012

Neerav says:

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)?

Posted on May 15th, 2012

Neerav says:

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

Posted on May 15th, 2012

Manish Chauhan says:

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

Posted on May 15th, 2012

Manish Chauhan says:

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

Posted on May 15th, 2012

Manish Chauhan says:

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

Posted on May 15th, 2012

Manish Chauhan says:

Thanks !

Posted on May 15th, 2012

Manish Chauhan says:

Better enquire using RTI

Posted on May 15th, 2012

Manish Chauhan says:

Thanks Venkatesh

Posted on May 15th, 2012

Manish Chauhan says:

No , i have not heard about loan option

Posted on May 15th, 2012

Manish Chauhan says:

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

Posted on May 15th, 2012

Manish Chauhan says:

Viswa

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

Posted on May 15th, 2012

Kshitij says:

Thanks Paddu and Manish,

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

Posted on May 15th, 2012

Sukesh says:

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

Posted on May 15th, 2012

SURESAN RAJA says:

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.

Posted on May 16th, 2012

SURESAN RAJA says:

There is no loan but advance against our EPF balance.

Posted on May 16th, 2012

pophale says:

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.

Posted on May 16th, 2012

Siddhant says:

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

Posted on May 16th, 2012

Ms Hyacinth says:

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

Posted on May 16th, 2012

munish says:

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

Posted on May 16th, 2012

Shrenik says:

Thnx Manish…

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

Posted on May 16th, 2012

Prasanna says:

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

Posted on May 16th, 2012

Manish Chauhan says:

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 !

Posted on May 16th, 2012

Manish Chauhan says:

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

Posted on May 16th, 2012

Manish Chauhan says:

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

Posted on May 16th, 2012

Manish Chauhan says:

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

Posted on May 16th, 2012

Manish Chauhan says:

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

Posted on May 16th, 2012

Manish Chauhan says:

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

Posted on May 16th, 2012

Chandrashekhar says:

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

Posted on May 16th, 2012

Manish Chauhan says:

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

Posted on May 16th, 2012

Suhas says:

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….

Posted on May 16th, 2012

Manish Chauhan says:

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

Posted on May 16th, 2012

Manish Chauhan says:

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 ?

Posted on May 16th, 2012

Sukesh Choudhary says:

Thanks for your clarification in this regard.

Regards,

Sukesh

Posted on May 17th, 2012

Selva says:

Very useful info..

Posted on May 17th, 2012

Manish Chauhan says:

Thanks

Posted on May 17th, 2012

Manish Chauhan says:

Welcome

Posted on May 17th, 2012

Charu Gupta says:

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

Posted on May 17th, 2012

Shrenik says:

Thnx Manish….it is really useful.

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

Posted on May 17th, 2012

Venkatesh says:

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

Posted on May 17th, 2012

Sandeep says:

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

Posted on May 17th, 2012

ANKUR says:

Good one Manish-Very informative!

Posted on May 17th, 2012

Manish Chauhan says:

Thanks Ankur

Posted on May 18th, 2012

Manish Chauhan says:

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 .

Posted on May 18th, 2012

Manish Chauhan says:

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

Posted on May 18th, 2012

Manish Chauhan says:

Will do that soon

Posted on May 18th, 2012

Manish Chauhan says:

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 :)

Posted on May 18th, 2012

pradeep says:

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 .

Posted on May 18th, 2012

SAURABH says:

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.

Posted on May 18th, 2012

girish c sharma says:

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?

Posted on May 18th, 2012

Prof KC Arora says:

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

Posted on May 18th, 2012

Tom says:

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

Posted on May 19th, 2012

Manish Chauhan says:

Thanks Tom

Posted on May 19th, 2012

Manish Chauhan says:

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 .

Posted on May 19th, 2012

Manish Chauhan says:

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

Posted on May 19th, 2012

Manish Chauhan says:

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

Posted on May 19th, 2012

Manish Chauhan says:

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

Posted on May 19th, 2012

Prof KC Arora says:

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

Posted on May 20th, 2012

Padmesh KC says:

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

Posted on May 21st, 2012

Prasad Achaiah says:

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.

Posted on May 22nd, 2012

Manish Chauhan says:

Good to hear that Prasad :)

Posted on May 22nd, 2012

Manish Chauhan says:

File an RTI application now , it will work – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

Posted on May 22nd, 2012

nadeem says:

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.

Posted on May 24th, 2012

abhimaniu says:

Thats too much info. Thanks

Posted on May 27th, 2012

Manish Chauhan says:

good or not :)

Posted on May 27th, 2012

siva says:

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

Posted on May 28th, 2012

Manish Chauhan says:

Thanks for appreciation

Posted on May 29th, 2012

Khirubagaran says:

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

Posted on May 30th, 2012

Manish Chauhan says:

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

Posted on May 30th, 2012

Khirubagaran says:

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

Posted on May 31st, 2012

Khirubagaran says:

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

Posted on May 31st, 2012

Manish Chauhan says:

Great .. please do

Posted on June 1st, 2012

Manish Chauhan says:

ok

Posted on June 1st, 2012

Karthik says:

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

Posted on June 6th, 2012

Manish Chauhan says:

If that is the latest one , then better believe it

Posted on June 6th, 2012

Sandeep says:

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

Posted on June 7th, 2012

Sandeep says:

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

Posted on June 7th, 2012

Krishnendu says:

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?

Posted on June 7th, 2012

Deivasigamani says:

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

Posted on June 7th, 2012

Manish Chauhan says:

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

Posted on June 7th, 2012

Manish Chauhan says:

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

Posted on June 7th, 2012

Vikram says:

Hi

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

Posted on June 8th, 2012

Vikram says:

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.

Posted on June 8th, 2012

Vikram says:

Also can we withdraw EPS

Posted on June 8th, 2012

Sandeep says:

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

Posted on June 8th, 2012

Manish Chauhan says:

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

Posted on June 8th, 2012

Manish Chauhan says:

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

Posted on June 8th, 2012

Manish Chauhan says:

Only after completing 10 yrs of service

Posted on June 8th, 2012

Paddu says:

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!

Posted on June 14th, 2012

amit says:

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

Posted on June 14th, 2012

Manish Chauhan says:

Please ask in simple language !

Posted on June 15th, 2012

TULSHIDAS says:

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

Posted on June 17th, 2012

Manish Chauhan says:

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

Posted on June 19th, 2012

Prasoon says:

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

Posted on June 19th, 2012

Prasoon says:

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

Posted on June 19th, 2012

Manish Chauhan says:

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 ! .

Posted on June 19th, 2012

Naveen Kumar S R says:

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.

Posted on June 19th, 2012

Vishnumoorthy says:

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

Posted on June 20th, 2012

Manish Chauhan says:

1. Both

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

Posted on June 21st, 2012

Manish Chauhan says:

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

Posted on June 21st, 2012

Vishnumoorthy says:

Thank you :)

Posted on June 21st, 2012

Naveen Kumar S R says:

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

Posted on June 21st, 2012

Manish Chauhan says:

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

Posted on June 21st, 2012

Urvashi says:

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

Posted on June 22nd, 2012

Naveen Kumar S R says:

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?

Posted on June 22nd, 2012

Manish Chauhan says:

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

Posted on June 22nd, 2012

Manish Chauhan says:

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

Posted on June 23rd, 2012

Swati says:

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

Posted on July 4th, 2012

Swetank Saroj says:

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

Posted on July 5th, 2012

Manish Chauhan says:

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 !

Posted on July 6th, 2012

Swetank Saroj says:

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

Posted on July 6th, 2012

Manish Chauhan says:

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

Posted on July 7th, 2012

Rakesh says:

Hi Manish,

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

Please check

Thanks,
Rakesh

Posted on July 10th, 2012

Rakesh says:

After posting the comment, article is visible now.

Posted on July 10th, 2012

Arvind says:

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?

Posted on July 19th, 2012

Manish Chauhan says:

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

Posted on July 20th, 2012

KeN says:

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.

Posted on July 25th, 2012

Manish Chauhan says:

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 .

Posted on July 27th, 2012

SS says:

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 ?

Posted on July 27th, 2012

Manish Chauhan says:

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

Posted on July 28th, 2012

Prasad says:

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

Posted on July 29th, 2012

Ram says:

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

Posted on July 29th, 2012

KeN says:

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 … ?

Posted on July 30th, 2012

alpesh says:

how i witharw eps please reply give full detail regarding eps

Posted on July 31st, 2012

Manish Chauhan says:

See this http://www.jagoinvestor.com/forum/procedure-to-withdraw-epf/1011/

Posted on July 31st, 2012

Manish Chauhan says:

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

Posted on July 31st, 2012

Manish Chauhan says:

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

Posted on July 31st, 2012

Manish Chauhan says:

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

Posted on July 31st, 2012

Srinivas says:

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.

Posted on August 2nd, 2012

Neha says:

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

Posted on August 3rd, 2012

Manish Chauhan says:

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

Posted on August 4th, 2012

Manish Chauhan says:

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 !

Posted on August 4th, 2012

sathish says:

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..

Posted on August 9th, 2012

Manish Chauhan says:

Satish

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

Posted on August 10th, 2012

Aparna says:

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

Posted on August 13th, 2012

sandeep says:

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

Posted on August 13th, 2012

RAMIDI says:

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…

Posted on August 14th, 2012

Manish Chauhan says:

You will have to apply for withdrawal now !

Posted on August 14th, 2012

Manish Chauhan says:

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

Posted on August 14th, 2012

ASHWANI KUMAR says:

Sir,

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

With Regards,

Ashwani Kumar

Posted on August 15th, 2012

Deb says:

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?

Posted on August 16th, 2012

Pradeep Kumar says:

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

Posted on August 16th, 2012

Pradeep Kumar says:

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.

Posted on August 16th, 2012

Manish Chauhan says:

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 .

Posted on August 17th, 2012

Manish Chauhan says:

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

Posted on August 17th, 2012

Pradeep Kumar says:

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

Posted on August 17th, 2012

Manish Chauhan says:

What exactly you need in the guidance ?

Posted on August 17th, 2012

Kishore says:

Hi Manish,

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

Thanks in advance !

Kishore

Posted on August 17th, 2012

Manish Chauhan says:

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

Posted on August 20th, 2012

Balaji says:

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

Posted on August 20th, 2012

JayaprakashReddy says:

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.

Posted on August 20th, 2012

LOKESH TANEJA says:

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

Posted on August 21st, 2012

Manish Chauhan says:

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

Posted on August 22nd, 2012

Manish Chauhan says:

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

Posted on August 22nd, 2012

Pavan says:

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.

Posted on August 23rd, 2012

Hetav says:

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 :)

Posted on August 24th, 2012

swapan kumar says:

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

Posted on August 24th, 2012

Geeta Ramola says:

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

Posted on August 24th, 2012

Manish Chauhan says:

Geeta

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

Posted on August 26th, 2012

Manish Chauhan says:

Yes you can do that !

Posted on August 26th, 2012

Manish Chauhan says:

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

Posted on August 26th, 2012

Manish Chauhan says:

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 !

Posted on August 26th, 2012

swathi says:

Hi,

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

Posted on August 29th, 2012

Sandeep says:

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

Posted on August 30th, 2012

S K Mishra says:

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

Posted on August 30th, 2012

Sat says:

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

Posted on August 30th, 2012

Manish Chauhan says:

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

Posted on August 31st, 2012

Manish Chauhan says:

Swathi

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

Posted on August 31st, 2012

Sat says:

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

Posted on August 31st, 2012

Nirav Parikh says:

Is EPF provide any kind of loan facility?

Posted on August 31st, 2012

PIYUSH says:

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

Posted on September 2nd, 2012

Manish Chauhan says:

Yes , its there http://www.jagoinvestor.com/2012/05/epf-facts-employee-providend-fund.html

Posted on September 2nd, 2012

Manish Chauhan says:

What is EMP ?

Posted on September 2nd, 2012

Peter says:

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

Posted on September 5th, 2012

Manish Chauhan says:

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/

Posted on September 5th, 2012

Peter says:

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

Posted on September 6th, 2012

Manish Chauhan says:

There will not be a TDS

Posted on September 8th, 2012

Sheela says:

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.

Posted on September 11th, 2012

Vishal Mane says:

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

Posted on September 11th, 2012

Manish Chauhan says:

Thanks for appreciation Vishal !

Posted on September 12th, 2012

Manish Chauhan says:

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

Posted on September 12th, 2012

bimal Mehra says:

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.

Posted on September 12th, 2012

ravi says:

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 ?

Posted on September 12th, 2012

Prasad says:

Hi Manish,

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

Posted on September 13th, 2012

Manish Chauhan says:

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

Posted on September 13th, 2012

Manish Chauhan says:

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

Posted on September 13th, 2012

Manish Chauhan says:

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

Posted on September 13th, 2012

Kushal Sharma says:

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

Posted on September 15th, 2012

ANIL says:

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

Posted on September 16th, 2012

Yougesh says:

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

Posted on September 16th, 2012

Manish Chauhan says:

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

Posted on September 16th, 2012

Manish Chauhan says:

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/

Posted on September 16th, 2012

Manish Chauhan says:

Welcome Kushal !

Posted on September 18th, 2012

Nithin R says:

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!

Posted on September 19th, 2012

SANDEEP KUMAR SAMAL says:

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

Posted on September 19th, 2012

Manish Chauhan says:

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/

Posted on September 19th, 2012

Manish Chauhan says:

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

Posted on September 19th, 2012

ASHWINI says:

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…

Posted on September 20th, 2012

Harinderpal Singh says:

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.

Posted on September 21st, 2012

Jacob says:

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!!

Posted on September 21st, 2012

Manish Chauhan says:

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 !

Posted on September 22nd, 2012

Manish Chauhan says:

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

Posted on September 22nd, 2012

Manish Chauhan says:

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

Posted on September 22nd, 2012

Sateesh says:

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

Posted on September 22nd, 2012

Mahendra Singh Gaharwar says:

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 ?

Posted on September 23rd, 2012

sachin verma says:

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

Posted on September 24th, 2012

ravi shankar says:

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

Posted on September 26th, 2012

Manish Chauhan says:

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

Posted on September 26th, 2012

Manish Chauhan says:

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

Posted on September 26th, 2012

Manish Chauhan says:

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

Posted on September 26th, 2012

Manish Chauhan says:

Its all mentioned in the article itself !

Posted on September 26th, 2012

vishnu says:

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????

Posted on September 27th, 2012

jobin says:

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?

Posted on September 28th, 2012

Manish Chauhan says:

You have to fill form 13 for that .

Posted on September 29th, 2012

Manish Chauhan says:

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 !

Posted on September 29th, 2012

NAGARAJU says:

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

Posted on September 30th, 2012

ANAND METRANI says:

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..

Posted on October 1st, 2012

Rahul says:

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 ?

Posted on October 1st, 2012

NISHA says:

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

Posted on October 2nd, 2012

C Raghu says:

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.

Posted on October 2nd, 2012

Manish Chauhan says:

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

Posted on October 2nd, 2012

Manish Chauhan says:

No , there is nothing like that

Posted on October 2nd, 2012

Manish Chauhan says:

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

Posted on October 2nd, 2012

Manish Chauhan says:

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

Posted on October 2nd, 2012

Manish Chauhan says:

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

Posted on October 2nd, 2012

sampath says:

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.

Posted on October 3rd, 2012

Manish Chauhan says:

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

Posted on October 4th, 2012

Abhijit Kamat says:

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

Posted on October 5th, 2012

satish prasad says:

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

Posted on October 6th, 2012

PINTU AGARWAL says:

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.

Posted on October 6th, 2012

Manish Chauhan says:

It was just an example !

Posted on October 9th, 2012

Manish Chauhan says:

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

Posted on October 9th, 2012

Manish Chauhan says:

Thanks Abhijit !

Posted on October 9th, 2012

Nishant says:

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?

Posted on October 10th, 2012

Piyush Patwari says:

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

Posted on October 11th, 2012

Manish Chauhan says:

At the time of leaving the job only

Posted on October 12th, 2012

Manish Chauhan says:

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

Posted on October 12th, 2012

Nishant says:

Thanks for the reply.

Posted on October 12th, 2012

Deepak Yadav says:

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

Posted on October 12th, 2012

Maria Louis says:

Very useful information about EPF & EPS

Posted on October 13th, 2012

Maria Louis says:

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.

Posted on October 13th, 2012

Sonali says:

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.

Posted on October 14th, 2012

Naveen says:

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.

Posted on October 15th, 2012

Manish Chauhan says:

No it will not be taxable

Posted on October 16th, 2012

Manish Chauhan says:

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

Posted on October 16th, 2012

Manish Chauhan says:

EPS is there in EE and ER

Posted on October 16th, 2012

Uday Kiran says:

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

Posted on October 16th, 2012

Sumit Mishra says:

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?

Posted on October 18th, 2012

S. Jayaraj Maria Louis says:

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

Posted on October 18th, 2012

Manish Chauhan says:

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

Posted on October 19th, 2012

Manish Chauhan says:

You have to fill up form 19 for that

Posted on October 19th, 2012

Manish Chauhan says:

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

Posted on October 19th, 2012

Kothapalli says:

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.

Posted on October 21st, 2012

Manish Chauhan says:

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

Posted on October 22nd, 2012

Bahubali says:

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 ?

Posted on October 22nd, 2012

Manish Chauhan says:

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

Posted on October 22nd, 2012

Bahubali says:

Thanks Manish .!

Posted on October 23rd, 2012

Arun says:

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.

Posted on October 23rd, 2012

pranav singh says:

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

Posted on October 24th, 2012

Manish Chauhan says:

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 .

Posted on October 24th, 2012

Manish Chauhan says:

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

Posted on October 24th, 2012

pranav singh says:

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,

Posted on October 25th, 2012

Manish Chauhan says:

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

Manish

Posted on October 25th, 2012

sanjiv kumar says:

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

Posted on October 25th, 2012

Prince says:

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

Posted on October 26th, 2012

Manish Chauhan says:

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

Posted on October 27th, 2012

Manish Chauhan says:

Its different because the employer contribution also goes into EPS

Posted on October 27th, 2012

Bhola Kumar says:

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.

Posted on October 28th, 2012

Bhola Kumar says:

541 is the minimum amount For EPS……….

Posted on October 28th, 2012

Punit Kumar says:

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?

Posted on October 28th, 2012

saetu says:

Hi

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

Posted on October 29th, 2012

Umesh says:

Very useful information. Thanks.

Regards

Umesh Patel

Posted on October 29th, 2012

Manish Chauhan says:

Thanks Umesh !

Posted on October 30th, 2012

Manish Chauhan says:

You will get full amount .

Posted on October 30th, 2012

Manish Chauhan says:

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

Posted on October 30th, 2012

Manish Chauhan says:

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

Posted on October 30th, 2012

dolly says:

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.

Posted on October 30th, 2012

Kothapalli says:

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

Posted on October 30th, 2012

Jay says:

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 !!!

Posted on October 30th, 2012

Bhola Kumar says:

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

Posted on October 30th, 2012

Suresh says:

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

Posted on October 30th, 2012

Sonali says:

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

Posted on October 30th, 2012

dolly says:

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.

Posted on October 31st, 2012

sai says:

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

Posted on November 1st, 2012

Manish Chauhan says:

You should check Form 10,13 and 19 for all this .

Posted on November 2nd, 2012

Manish Chauhan says:

Dolly

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

Posted on November 2nd, 2012

dolly says:

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.”

Posted on November 2nd, 2012

Manish Chauhan says:

Yes, very soon I will write on that

Posted on November 2nd, 2012

Manish Chauhan says:

Suresh

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

Posted on November 2nd, 2012

Suresh says:

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

Posted on November 2nd, 2012

Manish Chauhan says:

Yes, yours will be much better than them .

Posted on November 2nd, 2012

Joseph says:

great article… keep posting ..Superb !!

Posted on November 2nd, 2012

Manish Chauhan says:

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” .

Posted on November 2nd, 2012

Manish Chauhan says:

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 ?

Posted on November 2nd, 2012

Manish Chauhan says:

Thanks Joseph

Posted on November 2nd, 2012

Manish Chauhan says:

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

Posted on November 2nd, 2012

Manish Chauhan says:

Its already mentioned in the article

Posted on November 2nd, 2012

dolly says:

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.

Posted on November 2nd, 2012

Manish Chauhan says:

Ok great .. let me change that in my article

Posted on November 2nd, 2012

Bhola Kumar says:

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

Posted on November 2nd, 2012

Manish Chauhan says:

I meant the other way round

Posted on November 2nd, 2012

Praveen says:

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 ?

Posted on November 3rd, 2012

Sandeep Jain says:

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…

Posted on November 3rd, 2012

Srini says:

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.

Posted on November 4th, 2012

dolly says:

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

Posted on November 5th, 2012

Kumar says:

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

Posted on November 5th, 2012

kim says:

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..

Posted on November 5th, 2012

Shinto Chacko says:

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

Posted on November 6th, 2012

Manish Chauhan says:

Did you transfer your old EPF account to new one ?

Posted on November 6th, 2012

Manish Chauhan says:

You cant use the same one . You will either have to withdraw the money from it or transfer it to new EPF account

Posted on November 6th, 2012

Manish Chauhan says:

NO deductions .. just that if you do it within 5yrs , then tax will be there .

Posted on November 6th, 2012

Manish Chauhan says:

Yes, I was talking about the full and final withdrawal without a reason .

Posted on November 6th, 2012

Manish Chauhan says:

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

Posted on November 6th, 2012

Manish Chauhan says:

EPFO says that or the company ?

Posted on November 6th, 2012

Manish Chauhan says:

You mean EPF and not PPF !

Posted on November 6th, 2012

Sandeep Jain says:

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…..

Posted on November 6th, 2012

Shinto Chacko says:

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

Posted on November 6th, 2012

Praveen says:

Yes EPF ……

Posted on November 7th, 2012

Imran says:

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

Posted on November 7th, 2012

kim says:

Thank you Manish, but to withdraw the money do I have to contact my company?
In my case will company respond me?

Posted on November 9th, 2012

HARENDRA SINGH RATHORE says:

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.

Posted on November 9th, 2012

Ashish says:

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?

Posted on November 9th, 2012

Seenivasan.K says:

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.

Posted on November 10th, 2012

NARESH CHANDRA says:

NICE AND VERY USEFUL INFORMATION.

Posted on November 10th, 2012

Manish Chauhan says:

Thanks Naresh

Posted on November 12th, 2012

Manish Chauhan says:

Its maximum . But even the both the cases you mentioned are same , leading to “maximum”. think about it, take some numbers as examples

Posted on November 12th, 2012

Manish Chauhan says:

Ashish you can withdraw the EPF without your past employer help , i am doing an article in 1 month on this .

Posted on November 12th, 2012

Manish Chauhan says:

File an RTI now – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

Posted on November 12th, 2012

Manish Chauhan says:

Check that, if they do not respond or co-operate, there is a way you can withdraw the money without their help !

Posted on November 12th, 2012

Manish Chauhan says:

I have considered 250000 with interest, you will get all the interest on the EPF

Posted on November 12th, 2012

Manish Chauhan says:

In that case you can still complain with EPFO on this

Posted on November 12th, 2012

Manish Chauhan says:

Has the transfer happened ?

Posted on November 12th, 2012

Manish Chauhan says:

You cant withdraw if your tenure has been less than 6 months !

Posted on November 12th, 2012

Babu says:

For loans, Purchase of Plot and again construction of house both are possible seperately?

Posted on November 12th, 2012

kim says:

thank you Manish..
Wish you and your family a happy Diwali..

Posted on November 13th, 2012

Ashish says:

Thanks a lot Manish for your instant reply.

Can you provide some more detailed information on how exactly can that be done..?

Posted on November 14th, 2012

suman malik says:

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

Posted on November 15th, 2012

Manish Chauhan says:

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

Posted on November 15th, 2012

Manish Chauhan says:

That article is coming in few days !

Posted on November 15th, 2012

Manish Chauhan says:

Same to you :)

Posted on November 15th, 2012

Manish Chauhan says:

I think it will be tough !

Posted on November 15th, 2012

Pooja says:

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?

Posted on November 16th, 2012

Partha Dev says:

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 ?

Posted on November 20th, 2012

Manish Chauhan says:

This is something needs to be discussed at our forum – http://www.jagoinvestor.com/forum/

Posted on November 20th, 2012

Manish Chauhan says:

You get all the EPS !

Posted on November 20th, 2012

himanshu Gupta says:

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

Posted on November 20th, 2012

prabu says:

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

Posted on November 21st, 2012

venkatesh says:

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

Posted on November 22nd, 2012

Manish Chauhan says:

I am not clear about it . Can you explain more , buying a life insurance policy is any way exempted , right !

Posted on November 25th, 2012

Manish Chauhan says:

I think the answer now is “file a RTI to find out more”

Posted on November 25th, 2012

Manish Chauhan says:

file a RTI to find out exactly what happened !

Posted on November 25th, 2012

vinod says:

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

Posted on November 27th, 2012

Abhijeet says:

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?

Posted on November 28th, 2012

Josina says:

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.

Posted on November 29th, 2012

Manish Chauhan says:

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 !

Posted on November 30th, 2012

Prabhu says:

Hi, Manish,
Is EDLI scheme is a death benifit? Does it covers disability? Is this schem is applicable to pensioners? Please reply

Prabhu

Posted on November 30th, 2012

Manish Chauhan says:

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 .

Posted on November 30th, 2012

Manish Chauhan says:

You can get this info only from EPFO , I would recommend filing an RTI for this !

Posted on November 30th, 2012

Manish Chauhan says:

Vinod

that does not change much

Posted on November 30th, 2012

vinod says:

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

Posted on November 30th, 2012

Manish Chauhan says:

Yes, the interest will keep on accruing for 3 yrs , after which it will become inactive

Posted on November 30th, 2012

vinod says:

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

Posted on November 30th, 2012

Manish Chauhan says:

Not aware of these acts !

Posted on November 30th, 2012

R K says:

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

Posted on December 3rd, 2012

anjan says:

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 .

Posted on December 4th, 2012

Manish Chauhan says:

yes you can do tht

Posted on December 5th, 2012

Josina says:

Thanks.. but How do I file a RTI ? Where must I approach..
regards,
Josina.

Posted on December 5th, 2012

Amjad pasha says:

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.

Posted on December 5th, 2012

divya says:

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.

Posted on December 7th, 2012

Vishwanath says:

Manish,
Very informative & helpful. Thanks for your efforts in sharing this article.

Posted on December 7th, 2012

rajesh says:

manish ,Thanks a lot for the valuable information .

Posted on December 11th, 2012

Manish Chauhan says:

Welcome :) . Can you share your biggest learning ?

Posted on December 11th, 2012

Manish Chauhan says:

Thanks Vishwanath !

Posted on December 11th, 2012

Manish Chauhan says:

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

Posted on December 11th, 2012

Manish Chauhan says:

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 !

Posted on December 11th, 2012

Manish Chauhan says:

Refer this – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

Posted on December 11th, 2012

Manish Chauhan says:

It lies with Employee !

Posted on December 11th, 2012

PANKAJ says:

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)..

Posted on December 11th, 2012

Mohan kumar k says:

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

Posted on December 11th, 2012

Anupam says:

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 ?

Posted on December 13th, 2012

Nilesh M says:

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%.

Posted on December 13th, 2012

Prasant says:

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

Posted on December 13th, 2012

Saurabh Sharma says:

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

Posted on December 13th, 2012

Ananda says:

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

Posted on December 13th, 2012

anilkumar says:

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…

Posted on December 14th, 2012

anilkumar says:

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

Posted on December 14th, 2012

ganesh says:

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..

Posted on December 14th, 2012

Aditya says:

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??

Posted on December 16th, 2012

Meenxi says:

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?

Posted on December 17th, 2012

natrajan says:

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

Posted on December 18th, 2012

Aakanksha says:

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

Posted on December 19th, 2012

Manish Chauhan says:

Its Basic Salary component

Posted on December 19th, 2012

Manish Chauhan says:

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

Posted on December 19th, 2012

Manish Chauhan says:

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

Posted on December 19th, 2012

Manish Chauhan says:

I think you will get it as Partial withdrawal not LOAN

Posted on December 19th, 2012

Manish Chauhan says:

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

Posted on December 19th, 2012

Manish Chauhan says:

Life time

Posted on December 19th, 2012

Manish Chauhan says:

You should get it lifetime

Posted on December 19th, 2012

Manish Chauhan says:

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 !

Posted on December 19th, 2012

Manish Chauhan says:

WIll write on this soon . I think its just a proposal and has not become a law !

Posted on December 19th, 2012

Manish Chauhan says:

Let me research a bit more on this and get back !

Posted on December 19th, 2012

Manish Chauhan says:

Is it 12.5% now , can you send me the link which you read ?

Posted on December 19th, 2012

Manish Chauhan says:

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 !

Posted on December 19th, 2012

Manish Chauhan says:

You should not use RTI to get the status of your EPF

Posted on December 19th, 2012

Manish Chauhan says:

That is discussion by someone on comments section

Posted on December 19th, 2012

Aditya says:

What is benefit of doing withdrawl after maturity(after 15yrs) over withdrawl whenever required??Is the tax waived after 15yrs??

Posted on December 19th, 2012

Pratap Chandra says:

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….

Posted on December 20th, 2012

Rakesh says:

I appreciate your initiative of providing us with such a detailed information!!!!
Keep up the good work :)

Posted on December 20th, 2012

Manish Chauhan says:

Thanks Rakesh !

Posted on December 21st, 2012

Manish Chauhan says:

He can switch companies, the EPF has to be 10 yrs old !

Posted on December 21st, 2012

Manish Chauhan says:

The withdrawal is tax free after 15 yrs, does not matter when you do it .

Posted on December 21st, 2012

Aditya says:

Then any year before the maturity tax is deducted..

Posted on December 21st, 2012

Naren says:

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.

Posted on December 21st, 2012

rocky says:

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

Posted on December 23rd, 2012

Manish Chauhan says:

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

Posted on December 24th, 2012

Manish Chauhan says:

Naren

You will have the option to withdraw the full amount later, the pension is optional later

Posted on December 24th, 2012

Abhijit Powar says:

Very good article. Thanks alot for information.

Posted on December 25th, 2012

Manish Chauhan says:

Thanks Abhijit !

Posted on December 25th, 2012

Babu says:

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?

Posted on December 26th, 2012

Rajesh Patel says:

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.

Posted on December 27th, 2012

Babu says:

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.

Posted on December 28th, 2012

Manish Chauhan says:

yes , you can withdraw it now , but you will have to give affidavit to prove that you are unemployed !

Posted on December 29th, 2012

Manish Chauhan says:

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 !

Posted on December 29th, 2012

Sharath Krishna says:

How the compound interest calculated for PF? i.e Monthly or Yearly

Posted on January 2nd, 2013

Rohit Majethia says:

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?

Posted on January 2nd, 2013

Manish Chauhan says:

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

Posted on January 3rd, 2013

Ravi Shankar says:

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?

Posted on January 3rd, 2013

Ashish Doifode says:

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…

Posted on January 5th, 2013

balveer says:

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

Posted on January 7th, 2013

Manish Chauhan says:

Its about the present. Are you unemployed right now or not ? You need to make the affidavit for that

Posted on January 7th, 2013

Manish Chauhan says:

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 .

Posted on January 7th, 2013

Purnima says:

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

Posted on January 8th, 2013

Purnima says:

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

Posted on January 8th, 2013

Manish Chauhan says:

No

Posted on January 9th, 2013

Purnima says:

Thanks a lot Manish.

Posted on January 11th, 2013

kathiresh says:

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

Posted on January 11th, 2013

Pritesh Vora says:

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

Posted on January 12th, 2013

Manish Chauhan says:

The only thing I will suggest for now is file a RTI application . Only then you will get the exact status !

Posted on January 14th, 2013

Purnima says:

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

Posted on January 15th, 2013

Raj says:

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.

Posted on January 15th, 2013

Saket krishna says:

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 .

Posted on January 15th, 2013

Purnima says:

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

Posted on January 16th, 2013

Sunil says:

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?

Posted on January 17th, 2013

Rajanikant says:

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

Posted on January 17th, 2013

Gurinder Singh says:

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

Posted on January 17th, 2013

Manish Chauhan says:

Thanks for your appreciation !

Posted on January 18th, 2013

Manish Chauhan says:

Now you should file an RTI application and check with them if you can file is again without involving the previous company

Posted on January 18th, 2013

Manish Chauhan says:

I am not sure about the exact timing , but it can take some good time !

Posted on January 18th, 2013

Manish Chauhan says:

NO ..

Posted on January 18th, 2013

Manish Chauhan says:

Saket

this is something you should confirm at our forum http://www.jagoinvestor.com/forum/

Posted on January 18th, 2013

Manish Chauhan says:

You should be getting the EPS part also !

Posted on January 18th, 2013

Manish Chauhan says:

You can withdraw EPS also

Posted on January 18th, 2013

Suresh says:

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.

Posted on January 18th, 2013

Manish Chauhan says:

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

Posted on January 18th, 2013

Saket krishna says:

SURE ..

Posted on January 18th, 2013

Rohit C says:

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)?

Posted on January 20th, 2013

PF withdrawal before 5 years for education purpose says:

[...] http://www.jagoinvestor.com/2012/05/epf-facts-employee-providend-fund.html [...]

Posted on January 22nd, 2013

Jawahar V R says:

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?

Posted on January 22nd, 2013

Manish Chauhan says:

How many people are there in company , if its below 20 , then its not compulsory for them to deduct PF

Posted on January 22nd, 2013

Namrata Ketkar says:

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?.

Posted on January 22nd, 2013

Manish Chauhan says:

You cant claim the interest for years which are gone now !

Posted on January 22nd, 2013

Manish Chauhan says:

Yes , you can opt for PF now .. talk to your company

Posted on January 22nd, 2013

Namrata Ketkar says:

Thanks Manish

Posted on January 22nd, 2013

Sumith says:

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

Posted on January 23rd, 2013

Namrata Ketkar says:

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??

Posted on January 23rd, 2013

Sundaram says:

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

Posted on January 24th, 2013

Manish Chauhan says:

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.

Posted on January 24th, 2013

Manish Chauhan says:

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/

Posted on January 24th, 2013

Manish Chauhan says:

It will be 6 yrs old ..

No you cant withdraw the EPS part like this

Posted on January 24th, 2013

Aditya pandey says:

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.

Posted on January 25th, 2013

Prashant says:

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.

Posted on January 26th, 2013

Konark says:

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 :)

Posted on January 27th, 2013

suman gupta says:

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 ?

Posted on January 27th, 2013

Sundaram says:

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

Posted on January 29th, 2013

Neeraj says:

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..

Posted on January 29th, 2013

Mohan says:

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.

Posted on January 29th, 2013

Manish Chauhan says:

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

Posted on January 30th, 2013

Manish Chauhan says:

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 ..

Posted on January 30th, 2013

Neeraj says:

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

Posted on January 30th, 2013

Manish Chauhan says:

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 !

Posted on January 30th, 2013

Manish Chauhan says:

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 ?

Posted on January 30th, 2013

Neeraj says:

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 ??

Posted on January 30th, 2013

Manish Chauhan says:

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 !

Posted on January 30th, 2013

Manish Chauhan says:

Great to hear your story :) .. yes you can withdraw your EPF now …

Posted on January 30th, 2013

sundaram says:

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

Posted on January 30th, 2013

Manish Chauhan says:

Yes. do it now !

Posted on January 30th, 2013

Manish Chauhan says:

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

Posted on January 30th, 2013

Manish Chauhan says:

I dont think you can do unless the house is in your name .. or atleast the land !

Posted on January 30th, 2013

MUNNA DANDAPAT says:

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

Posted on January 30th, 2013

Vimal says:

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

Posted on January 31st, 2013

Nandan says:

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.

Posted on January 31st, 2013

HARI says:

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

Posted on February 1st, 2013

Jayaraman says:

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

Posted on February 1st, 2013

hirenj patel says:

if member is not coming on job from 3 month ,as an employer can we put a resignation date of him without resign letter.

Posted on February 4th, 2013

jaya kumar maben says:

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

Posted on February 4th, 2013

Manish Chauhan says:

Good to hear that :)

Posted on February 5th, 2013

Manish Chauhan says:

I am not sure on that ,please check on our forum for this – http://www.jagoinvestor.com/forum/

Posted on February 6th, 2013

Lopamudra says:

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.

Posted on February 6th, 2013

Manish Chauhan says:

Yes, thats true

Posted on February 6th, 2013

S. Jayaraj Maria Louis says:

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.

Posted on February 6th, 2013

Manish Chauhan says:

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 ?

Posted on February 7th, 2013

Asankaran says:

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).

Posted on February 7th, 2013

Manish Chauhan says:

If its already settled , then why will you get the updated interest?

Posted on February 7th, 2013

Ananth Sankaran says:

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).

Posted on February 7th, 2013

Manish Chauhan says:

Best you can do now is file a RTI for this – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

Posted on February 7th, 2013

Manish Chauhan says:

You have to fill form 13 for that, did you fill it ?

Posted on February 7th, 2013

Manish Chauhan says:

You can get back all your EPF , once employer contributes to EPF, then its your money only.

Manish

Posted on February 7th, 2013

mohd says:

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

Posted on February 7th, 2013

Ramya says:

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 ?

Posted on February 11th, 2013

Manish Chauhan says:

There is nothing wrong in that .. employer has communicated that in advance already . Thats what CTC means btw .

Posted on February 11th, 2013

Rajender says:

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

Posted on February 12th, 2013

Abhijit says:

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.

Posted on February 12th, 2013

Hemant says:

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?

Posted on February 15th, 2013

Arul says:

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

Posted on February 15th, 2013

Manish Chauhan says:

You can maintain two EPF , the first EPF should cross 5 yrs in existance so that you have to not pay tax on it

Posted on February 18th, 2013

Manish Chauhan says:

No cant do like that

Posted on February 18th, 2013

Manish Chauhan says:

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

Posted on February 18th, 2013

Rohit Godkhindi says:

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.

Posted on February 18th, 2013

Manish Chauhan says:

It might be updated after many months !

Posted on February 18th, 2013

Manish Chauhan says:

I think its available only for the purchase of a house

Posted on February 18th, 2013

Abhijit says:

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

Posted on February 19th, 2013

Madan Mohan says:

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.

Posted on February 19th, 2013

Manish Chauhan says:

Sure

Posted on February 21st, 2013

neha says:

thanks a lot for the information..

Posted on February 22nd, 2013

Shailesh Patel says:

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?

Posted on February 22nd, 2013

Rajkrishnan says:

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

Posted on February 25th, 2013

Vikram says:

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.

Posted on February 25th, 2013

Manish Chauhan says:

Withdraw your existing EPF then

Posted on February 25th, 2013

Manish Chauhan says:

Better you enquire this now using RTI , because only EPFO department will be able to help you with the exact procedure !

Posted on February 25th, 2013

Manish Chauhan says:

I think that you should get on our forum – http://www.jagoinvestor.com/forum/

Posted on February 25th, 2013

Rajkrishnan says:

Thanks…

Posted on February 25th, 2013

saurabh says:

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!

Posted on February 26th, 2013

Manish Chauhan says:

yes .. that will help you get a non-taxable PF !

Posted on February 27th, 2013

Deepak says:

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..

Posted on February 27th, 2013

Sameer says:

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

Posted on February 28th, 2013

Dinesh Kumar says:

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

Posted on March 1st, 2013

Manish Chauhan says:

You should get around Rs 2500 .

Posted on March 1st, 2013

Dinesh Kumar says:

how come rs.2500 for 28month

Posted on March 1st, 2013

Manish Chauhan says:

I am taking it around 2 yrs .. so your contribution + employer should be around that amount .. may be little up or down

Posted on March 1st, 2013

Manish Chauhan says:

Only if you had filled the form for EPS. By default the company gives you the form for that

Posted on March 1st, 2013

Dinesh Kumar says:

ok 2500 per month and I should calculate for 2500 x 28months or how please calculate and tell me the amount.

Posted on March 1st, 2013

Manish Chauhan says:

YEs . it should be around that !

Posted on March 1st, 2013

Manish Chauhan says:

For exact amount, you can only know by filing a RTI !

Posted on March 1st, 2013

Deepak says:

Thanks Manish, you are doing great job by running this blogsite. Very useful for those who have no proper knowledge. Thanks again.

Posted on March 1st, 2013

RITESH says:

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.

Posted on March 1st, 2013

Manish Chauhan says:

The best thing you guys can do is file a RTI and ask what is the status and whats next . things should move faster !

Posted on March 3rd, 2013

Manish Chauhan says:

Thanks !

Posted on March 3rd, 2013

M.Agarwal says:

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

Posted on March 4th, 2013

krishna kumar saxena says:

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.

Posted on March 5th, 2013

Avinash Soni says:

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.

Posted on March 7th, 2013

expat says:

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?

Posted on March 8th, 2013

krishna saxena says:

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.

Posted on March 8th, 2013

Kamleshwar Prasad says:

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.

Posted on March 8th, 2013

Manish Chauhan says:

Your pension can not be predicted with just above information .. I suggest to file a RTI for this !

Posted on March 8th, 2013

Manish Chauhan says:

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

Posted on March 8th, 2013

Manish Chauhan says:

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 !

Posted on March 8th, 2013

Manish Chauhan says:

Each company has a establishment code .. JUst search for it in google with your company name

Posted on March 8th, 2013

krishna saxena says:

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…..

Posted on March 9th, 2013

Avishek Chakraborty says:

Thanks for the valuable information.It will definitely help a lot.

Posted on March 9th, 2013

Chanchal says:

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

Posted on March 10th, 2013

ashok phogat says:

I withdraw an amount for my son’s marriage from my P.F.,, can I get any deduction for this??

Posted on March 11th, 2013

Snehal Sukhadia says:

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?

Posted on March 11th, 2013

Priyanka says:

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

Posted on March 11th, 2013

Raju Madhavan says:

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

Posted on March 12th, 2013

Sanjiwan says:

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…….

Posted on March 12th, 2013

Manish Chauhan says:

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

Posted on March 13th, 2013

Manish Chauhan says:

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 !

Posted on March 13th, 2013

Manish Chauhan says:

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 .

Posted on March 13th, 2013

Manish Chauhan says:

1. Not really, once you are employed again , you cant withdraw the PF , you need to transfer it

2. I dont think so !

Posted on March 13th, 2013

Manish Chauhan says:

No , there are no deduction like this

Posted on March 13th, 2013

Manish Chauhan says:

Will have to check myself on that :)

Posted on March 13th, 2013

Manish Chauhan says:

Yes ,they should send it asap . Ask them to do it asap ..

Posted on March 13th, 2013

Manish Chauhan says:

You should now follow this – http://www.jagoinvestor.com/2012/11/withdraw-your-epf-without-employer-signature.html

Posted on March 13th, 2013

Manish Chauhan says:

You will have to file the transfer form for each of your company

Posted on March 13th, 2013

Snehal Sukhadia says:

Thanks a lot Manish

Posted on March 14th, 2013

Prakash reddy says:

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?

Posted on March 14th, 2013

leela says:

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

Posted on March 14th, 2013

Susant says:

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.

Posted on March 14th, 2013

Mohan says:

Nice article. Very informative. Thanks for sharing.

Posted on March 16th, 2013

Mitesh says:

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?

Posted on March 16th, 2013

BHAUSO THORAT says:

sir,if i get loan against EPF ,Can i am eligible for EPF PENSION?

Posted on March 16th, 2013

Sukumar says:

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?

Posted on March 18th, 2013

Devang says:

Thanks for providing some valuable info on epf/eps rules…

Posted on March 18th, 2013

Manish Chauhan says:

Welcome Devang !

Posted on March 19th, 2013

Manish Chauhan says:

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 !

Posted on March 19th, 2013

Manish Chauhan says:

Good to hear that !

Posted on March 19th, 2013

Manish Chauhan says:

Yes, if you repay the loan

Posted on March 19th, 2013

Manish Chauhan says:

Yes

Posted on March 19th, 2013

Manish Chauhan says:

I am not sure if it will be allowed if the house is not on your name

Posted on March 19th, 2013

Manish Chauhan says:

Yes employee can increase his share , but only upto 1 lacs in total is covered under 80C section ..

Posted on March 19th, 2013

Manish Chauhan says:

There is form 13 to be filled, but its given by your employer

Posted on March 19th, 2013

Irfana Parveen says:

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

Posted on March 19th, 2013

Santhosh says:

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?

Posted on March 19th, 2013

Avinash Soni says:

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.

Posted on March 20th, 2013

Sarath says:

Hey Manish, many thanks !!!
very crisp and clear…very much useful one :)

Posted on March 20th, 2013

Shishir Pandey says:

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.

Posted on March 20th, 2013

Manish Chauhan says:

NO , you get all the money in one go ..

Posted on March 21st, 2013

Manish Chauhan says:

Thanks :)

Posted on March 21st, 2013

Manish Chauhan says:

You should be filing the RTI to find out the status . Only they will be able to give you accurate info

Posted on March 21st, 2013

Manish Chauhan says:

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

Posted on March 21st, 2013

Nishant says:

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.

Posted on March 23rd, 2013

R S Gupta says:

I worked in an organization for 2 months so could I withdraw the pf amount?

Posted on March 24th, 2013

Gnanasekaran says:

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

Posted on March 26th, 2013

Rupesh kadam says:

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.

Posted on March 26th, 2013

Manish Chauhan says:

He might reject it asking you to prove that you are unemployed .

Posted on March 27th, 2013

Manish Chauhan says:

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/

Posted on March 27th, 2013

Manish Chauhan says:

No , you have to work for atleast 6 months for that

Posted on March 27th, 2013

Manish Chauhan says:

No its a good option ,you can do that after 2 yrs

Posted on March 27th, 2013

Nishant says:

Thanks Manish.

Posted on March 27th, 2013

mallikarjun says:

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.

Posted on March 27th, 2013

Rupesh kadam says:

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

Posted on March 28th, 2013

karthik says:

Appreciate your article !

Posted on March 31st, 2013

Neetu says:

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

Posted on April 1st, 2013

bhavin says:

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.

Posted on April 1st, 2013

Manish Chauhan says:

Its 6 months !

Posted on April 3rd, 2013

Manish Chauhan says:

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 .

Posted on April 3rd, 2013

Manish Chauhan says:

I am not sure , but there are cases like that

Posted on April 3rd, 2013

Rupesh kadam says:

ok thank you, sir

Posted on April 3rd, 2013

SA says:

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

Posted on April 4th, 2013

Taher says:

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/-

Posted on April 5th, 2013

Manish Chauhan says:

Not so easy to find out like this . Better file a RTI for this to EPFO and find out

Posted on April 6th, 2013

Manish Chauhan says:

definately you are .. just fill up the withdrawal form . you should have ideally done it when you left for US !

Posted on April 6th, 2013

nmsadguru says:

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/-

Posted on April 6th, 2013

Deepak says:

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

Posted on April 6th, 2013

Deepak says:

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

Posted on April 8th, 2013

Alok Agrawal says:

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?

Posted on April 8th, 2013

sumeetkumar says:

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…

Posted on April 8th, 2013

Prabhanjan says:

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

Posted on April 10th, 2013

Manish Chauhan says:

No EPF should not reject your application because you are borrowing from other place also

Posted on April 12th, 2013

Manish Chauhan says:

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

Posted on April 12th, 2013

Manish Chauhan says:

The only right answer can come with RTI

Posted on April 12th, 2013

Manish Chauhan says:

The full amount

Posted on April 12th, 2013

Manish Chauhan says:

He will get as per the chart given in the article

Posted on April 12th, 2013

Babu says:

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..

Posted on April 12th, 2013

Praveen Deshmukh says:

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.

Posted on April 13th, 2013

mallikarjun says:

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.

Posted on April 15th, 2013

Irfana Parveen says:

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….

Posted on April 16th, 2013

Prashant says:

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

Posted on April 17th, 2013

Manish Chauhan says:

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

Posted on April 19th, 2013

Manish Chauhan says:

Yes, then you should apply for re-withdrawal

Posted on April 19th, 2013

Manish Chauhan says:

What kind of info you want ? Its already covered into this article i guess

Posted on April 19th, 2013

Manish Chauhan says:

The data is not uploaded for all the years ..

Posted on April 19th, 2013

Manish Chauhan says:

Yes, this should be good ..

Posted on April 19th, 2013

Babu says:

Thanks !

Posted on April 19th, 2013

praveen says:

But my pf account started in 01/01/2012. why the report is showing from one year back.

Posted on April 20th, 2013

Jose says:

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?

Posted on April 25th, 2013

Ashish L says:

Hi Manish,

Morning. Did not know the backend of how EPF works.

Thank You for educating us all.

Regards,
Ashish

Posted on April 26th, 2013

Manish Chauhan says:

Welcome :)

Posted on April 26th, 2013

Manish Chauhan says:

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 .

Posted on April 26th, 2013

Manish Chauhan says:

All you can do is file a RTI and ask this

Posted on April 26th, 2013

Manish Chauhan says:

Its one year only , right .. from 2012-2013

Posted on April 26th, 2013

koushik says:

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.

Posted on April 29th, 2013

praveen anand says:

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.

Posted on April 29th, 2013

S Srinivasan says:

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?

Posted on April 29th, 2013

Lokesh sharma says:

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.

Posted on April 30th, 2013

Lokesh sharma says:

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 ?

Posted on April 30th, 2013

dr. amit says:

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..

Posted on May 1st, 2013

samy jain says:

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).

Posted on May 6th, 2013

Manish Chauhan says:

Samy

1. No

2. Yes, past years will be counted !

Posted on May 6th, 2013

Manish Chauhan says:

Hi Amit

http://www.jagoinvestor.com/forum/ our forum is a right place to ask this

Posted on May 6th, 2013

Manish Chauhan says:

Complain to EPFO on this and registrar of companies

Posted on May 6th, 2013

Manish Chauhan says:

No , you need to have 10 yrs of service if you had EPF in a company

Posted on May 6th, 2013

Manish Chauhan says:

You can only be sure by filing a RTI .

Posted on May 6th, 2013

Manish Chauhan says:

I am not clear on this . But I think PF is mainly for your permanent employees ! . You can check with EPFO on this

Posted on May 6th, 2013

S Srinivasan says:

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.

Posted on May 6th, 2013

manish chandra says:

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?

Posted on May 10th, 2013

Manish Chauhan says:

Not yet , only after 5 yrs of service

Posted on May 10th, 2013

Manish Chauhan says:

I think this needs lots of discussion , please open a thread at http://www.jagoinvestor.com/forum/

Posted on May 10th, 2013

deepu says:

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?

Posted on May 16th, 2013

Manish Chauhan says:

Deepu

We are not aware of this at the moment, please take help on our forum – http://www.jagoinvestor.com/forum/

Posted on May 18th, 2013

Reni says:

This piece of information was of great help to understand the basic rules on EPF withdrawal :-)

Posted on May 22nd, 2013

Naresh Makwana says:

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?

Posted on May 23rd, 2013

Karthikeyan chinnaswamy says:

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?

Posted on May 23rd, 2013

pjay says:

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.

Posted on May 23rd, 2013

Manish Chauhan says:

One cant tell it that way .. file a RTI to know this

Posted on May 25th, 2013

Manish Chauhan says:

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

Posted on May 25th, 2013

Manish Chauhan says:

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

Posted on May 25th, 2013

Manish Chauhan says:

Thanks Reni !

Posted on May 25th, 2013

Naresh Makwana says:

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.

Posted on May 25th, 2013

Manish Chauhan says:

You can merge all 3 , actually its not merging , but transferring , Ask your employer to transfer 1st->3rd and 2nd->3rd !

Posted on May 25th, 2013

Provident Fund Requirements For Foreigners Employed in India | FRRO - India says:

[...] 12% from Basic Salary (this is not the same as Gross Salary) and contributes a further 12%. The Provident Fund provides a tax free, compound interest savings scheme and ensures that employees at least have [...]

Posted on May 26th, 2013

amit says:

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

Posted on May 26th, 2013

Manish Chauhan says:

File a withdrawal form for it

Posted on May 26th, 2013

Srinivasan C says:

Manish,

Neatly written, very helpful article. Thank you.

Regards,
Srini

Posted on May 27th, 2013

sougato pal says:

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.

Posted on May 28th, 2013

PRASHANT says:

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

Posted on May 29th, 2013

Manish Chauhan says:

First tell your employer that you are complaining to CVO office at EPFO , He will come on line

Posted on May 31st, 2013

Manish Chauhan says:

THere is another form for that, didnt your employer give it you ?

Posted on May 31st, 2013

KNN says:

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?

Posted on May 31st, 2013

Manish Chauhan says:

You mean you want your PF money through us ?

Posted on June 1st, 2013

Ajin Nair says:

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

Posted on June 6th, 2013

Manish Chauhan says:

I guess you forgot to fill up the form relevent for the EPS fund transfer . Check with EPFO using RTI now

Posted on June 8th, 2013

Ashok says:

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.

Posted on June 11th, 2013

Seema says:

Thanks Manish,these things are very helpful

Posted on June 12th, 2013

KNN says:

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?

Posted on June 13th, 2013

Manish Chauhan says:

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

Posted on June 14th, 2013

Manish Chauhan says:

No , it will not apply , because you transferred your old EPF to new one !

Posted on June 14th, 2013

Sneh says:

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 ?

Posted on June 18th, 2013

JIm says:

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

Posted on June 19th, 2013

Kiran R. Bage says:

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

Posted on June 19th, 2013

Manish Chauhan says:

Only RTI will help in your case !

Posted on June 21st, 2013

Manish Chauhan says:

Thats the final amount !

Posted on June 21st, 2013

Manish Chauhan says:

Correct !

Posted on June 21st, 2013

krishna says:

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.

Posted on June 22nd, 2013

Rajiv Dutta says:

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

Posted on June 25th, 2013

sunita joshi says:

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!

Posted on July 1st, 2013

Manish Chauhan says:

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 !

Posted on July 1st, 2013

Manish Chauhan says:

Yes, you can get it transferred to new company !

Posted on July 1st, 2013

Manish Chauhan says:

Thanks for sharing that Krishna !

Posted on July 1st, 2013

Shailley says:

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

Posted on July 3rd, 2013

Manish Chauhan says:

Get it transferred !

Posted on July 5th, 2013

Ramesh says:

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……….

Posted on July 5th, 2013

Manish Chauhan says:

Not to worry . Leave this org and then re file the transfer papers .

Posted on July 5th, 2013

Ramesh says:

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….

Posted on July 5th, 2013

T R Mishra says:

whether the EPF deduction is applicable or statutory for contractual employees in Govt. or Govt. PSUs where there is no EPF acount.

Posted on July 5th, 2013

Pulkit says:

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.

Posted on July 11th, 2013

Manish Chauhan says:

Only a RTI application will be able to give you right answer on this

Posted on July 15th, 2013

Manish Chauhan says:

They have their own kind of PF !

Posted on July 15th, 2013

Manish Chauhan says:

Ramesh

I suggeest filing a RTI in that case and asking them your doubts !

Posted on July 15th, 2013

Mohammed says:

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?

Posted on July 16th, 2013

Manish Chauhan says:

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

Posted on July 18th, 2013

Mona says:

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?

Posted on July 18th, 2013

Manish Chauhan says:

1. NO you can join later

2. No .

Posted on July 20th, 2013

Mona says:

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?

Posted on July 20th, 2013

Naishadh says:

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

Posted on July 25th, 2013

Shailesh says:

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?

Posted on July 29th, 2013

Manish Chauhan says:

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.

Posted on July 29th, 2013

Shailesh says:

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.

Posted on July 29th, 2013

Manish Chauhan says:

I dont think so , there is nothing called loan in EPF as far as I know

Posted on July 29th, 2013

Manish Chauhan says:

Why MONA ? They offer it as part of CTC only when you are part of EPF ,else that component will not be there !

Posted on July 29th, 2013

Anisha says:

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.

Posted on July 31st, 2013

Manish Chauhan says:

I am not sure of the exact rule , but you will have to check for the rules in EPFO

Posted on July 31st, 2013

B ANIL KUMAR says:

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

Posted on August 1st, 2013

Rekha says:

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.

Posted on August 2nd, 2013

Manish Chauhan says:

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 !

Posted on August 5th, 2013

Manish Chauhan says:

Most of the company include their contribution in the CTC mentioned . So nothing wrong in it . You accepted the offer

Posted on August 5th, 2013

Abhay says:

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

Posted on August 6th, 2013

Abhay Nadgir says:

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

Posted on August 7th, 2013

Abhay Nadgir says:

Also, haven’t they calculated the interest?

Posted on August 7th, 2013

Manish Chauhan says:

Hi Abhay

I strongly suggest filing a RTI, because otherwise you will not get proper answer !

Posted on August 9th, 2013

Manish Chauhan says:

No , it will be there for 3 yrs and then it will become inactive !

Posted on August 9th, 2013

Ankur says:

Great article manish, very useful for everyone….

Posted on August 13th, 2013

ravindra Ghorpade says:

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.

Posted on August 13th, 2013

Ram says:

Nice information.. Specially the withdrawal for home loan.

Posted on August 14th, 2013

Ramanan Menon says:

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

Posted on August 15th, 2013

Ajit G says:

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

Posted on August 15th, 2013

Gaurav Garg says:

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

Posted on August 19th, 2013

Sundar says:

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

Posted on August 19th, 2013

Manish Chauhan says:

there will be interest also . right !

Posted on August 21st, 2013

Manish Chauhan says:

I am not very sure on that . Better check on our forum

Posted on August 21st, 2013

SomaSundaram says:

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

Posted on August 21st, 2013

Manish Chauhan says:

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 !

Posted on August 21st, 2013

Manish Chauhan says:

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 !

Posted on August 21st, 2013

Manish Chauhan says:

Menon

Please open a thread to discuss here – http://www.jagoinvestor.com/forum/

Posted on August 21st, 2013

Manish Chauhan says:

Thanks

Posted on August 21st, 2013

Manish Chauhan says:

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 !

Posted on August 21st, 2013

Manish Chauhan says:

Thanks

Posted on August 21st, 2013

Ajit G says:

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

Posted on August 21st, 2013

SomaSundaram says:

Mr.Manish,

You are right.

I will try.

Regards

S.SomaSundaram – HRD

Posted on August 22nd, 2013

Tushar says:

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.

Posted on August 22nd, 2013

Satish says:

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 ?

Posted on August 23rd, 2013

niteen says:

That is such an informative read! Else EPF and EPS is like blackbox, and most of us doesn’t know what lies inside!

Posted on August 23rd, 2013

Praveen Dehsmukh says:

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.

Posted on August 26th, 2013

Praveen Dehsmukh says:

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.

Posted on August 26th, 2013

Shashank says:

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

Posted on August 28th, 2013

Manish Chauhan says:

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

Posted on August 28th, 2013

manish Sahu says:

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.

Posted on August 28th, 2013

Manish Chauhan says:

The best thing would be to file a RTI and ask what was the procedure to calculate the amount.

Manish

Posted on August 29th, 2013

Manish Chauhan says:

Better transfer it

Posted on August 29th, 2013

Manish Chauhan says:

Using RTI

Posted on August 29th, 2013

Manish Chauhan says:

thanks Niteen

Posted on August 29th, 2013

Manish Chauhan says:

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 !

Posted on August 29th, 2013

Manish Chauhan says:

Its compulsory for all companies more than 20 employees

Posted on August 29th, 2013

Shashank says:

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

Posted on August 29th, 2013

Manish Chauhan says:

No , in that case what he is saying is Final

Posted on August 29th, 2013

manish sahu says:

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.

Posted on August 29th, 2013

Somen Bhattacharya says:

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.

Posted on August 30th, 2013

Purushotham says:

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

Posted on September 3rd, 2013

Manish Chauhan says:

No there is no provision like that .

Posted on September 3rd, 2013

Manish Chauhan says:

You should have 5 yrs of SERVICE !

Posted on September 3rd, 2013

Manish Chauhan says:

You have to fill up a seperate form called Form 13 . That is generally given to you by employer !

Posted on September 3rd, 2013

5 tricks played by Employers to fool you with high CTC (Cost to Company) Salary - Real Estate India - Indian Real Estate Forum says:

[…] […]

Posted on September 3rd, 2013

Chinmoy Kumar Padhi says:

Thanks Manish , for a such a wonderful and detail information.

Posted on September 4th, 2013

Purushotham says:

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

Posted on September 4th, 2013

Somen Bhattacharya says:

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.

Posted on September 5th, 2013

Manish Chauhan says:

It should be service period

Posted on September 7th, 2013

Somen says:

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.

Posted on September 7th, 2013

Harish says:

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……

Posted on September 7th, 2013

Manish Chauhan says:

Its form 13 I guess

Posted on September 7th, 2013

Manish Chauhan says:

Somen

The best thing you can do is check your EPF balance through RTI first !

Posted on September 7th, 2013

Manish Chauhan says:

The duration is your continuous service (of all companies) . You can withdraw EPS anytime .

Posted on September 7th, 2013

Manish Chauhan says:

Thanks Chinmoy !

Posted on September 7th, 2013

Venkat says:

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 .

Posted on September 9th, 2013

Mandeep Singh says:

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.

Posted on September 9th, 2013

Harish says:

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 .

Posted on September 10th, 2013

Muneer K.V says:

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?

Posted on September 10th, 2013

Srinivasan says:

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?

Posted on September 10th, 2013

Srinivasan says:

From what I have read, you cease to exercise the option of withdrawal of EPS after 10 years of service.

Posted on September 10th, 2013

Harish says:

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 .

Posted on September 12th, 2013

Srinivas says:

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.

Posted on September 17th, 2013

Manish Chauhan says:

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 !

Posted on September 17th, 2013

Manish Chauhan says:

You need to fill up form 13 for that, but when employer gives you the forms to fill, they generally give that one too

Posted on September 18th, 2013

Manish Chauhan says:

DId you fill form 13 ?

Posted on September 18th, 2013

Manish Chauhan says:

I am not aware about it . Please open a thread on our forum for discussing this http://www.jagoinvestor.com/forum/

Posted on September 18th, 2013

Manish Chauhan says:

PLease open a thread on forum to discuss this and keep your questions short – http://www.jagoinvestor.com/forum/

Posted on September 18th, 2013

Muneer K.V says:

yes

Posted on September 18th, 2013

Manish Sahu says:

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

Posted on September 22nd, 2013

Manoranjan Mahakud says:

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

Posted on September 23rd, 2013

Prakash Kumar says:

Hi Manish,

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

Thanks,
Prakash

Posted on September 24th, 2013

Manish Chauhan says:

Thanks :)

Posted on September 24th, 2013

Manish Chauhan says:

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 .

Posted on September 24th, 2013

Manish Chauhan says:

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 !

Posted on September 25th, 2013

pendse ajay krishnaji says:

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

Posted on October 3rd, 2013

sanjay patidar says:

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

Posted on October 5th, 2013

Manish Chauhan says:

Thanks :)

Posted on October 7th, 2013

Manish Chauhan says:

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.

Posted on October 7th, 2013

Milind Shah says:

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 Rs.17853/- and my basic salary was Rs. 60000/-
2. If I withdraw this amount, the same will have to be offered for Taxation in 2013-14. Instead can I wait upto April 2014 and offer for taxation in the new year?

Regards
Milind Shah

Posted on October 7th, 2013

yeoleyogesh says:

Hi Manish,

I gone through your post and this is really useful information, thanks for taking initiative and all answers. I have also some queries about the same.

Last month I have requested for PF passbook through member portal and this month I am able to download the PDF file where all the details are mentioned about my account. I am working from last 5 years in current organization and this is my third company. In second company I worked 3 years and transferred my PF into this current organization PF account, so 8 year balance available in my current PF account. I have gone through your information and also with some of the question/answers flow. Following is the example for my closing balance as per the passbook. Employee Share: 200000 Employer Share: 142000 Pension Fund: 31000

Now questions are

1. Can I withdraw the amount for my home loan repayment? If yes then how much max amount can be allowed to withdraw (excluding Pension Fund)?

2. If I withdraw amount (excluding Pension Fund) before completion of 10 years then can these 8 years accountable for pension?

3. What is benefit apart from interest if I wait for next 2 more years so that I can complete 10 years.

4. If I apply for PF withdraw how much time it will take to complete the process. As per my above mention balance which form I need to submit.

5. In my first company I worked only 4 months (After left the job within one year this company was shut down due to loss) and as per Salary slip PF also deducted hence I went PF office to withdraw that amount but as per them the account is not online for this company and they are not able to find out the my record, amount may be around 5K hence how can I withdrawal this amount? Company ka to diwala nikal gaya so now no one is belong to this company. Please your advice really appreciated.

6. If I continue my PF account till 58 years and after 58 years still I will get only 3500 per month? (unless there is rule change by government)

Whenever you are free could you please take a look my big list?

Thanks much,
Yogesh.

Posted on October 10th, 2013

AVIK SARKAR says:

The post was very illuminative. I have one query though. I worked for @ years in a PSU where there was EPF scheme available. Now I have joined another PSU where EPF scheme is not available instead we are enrolled under NPS (New Pension Scheme). In that case can I withdraw my amount accumulated in previous company or I have to transfer it to my new Company??

Posted on October 11th, 2013

shamshad rayan says:

Hi mnish

Can you til me EPF rules Wat time i wat time i flip the epf form

Posted on October 15th, 2013

Lalit Mohan Gupta says:

I have taken a house and paid money by arranging from my friends. Though i have already paid 100% amount, i am still to pay society charges and get possession. Can i still withdraw under 5 clause of withdrwal mentioned here. I have completed 5 years of service.

Posted on October 17th, 2013

Manish Chauhan says:

But if the house is already bought, I dont think then you can get it .

Posted on October 18th, 2013

Manish Chauhan says:

Not sure of your question ?

Posted on October 18th, 2013

Manish Chauhan says:

You can either withdraw it or transfer it , you have both the choices !

Posted on October 18th, 2013

Manish Chauhan says:

Yogesh

Can you put these questions on a thread on our forum – http://www.jagoinvestor.com/forum/

Posted on October 18th, 2013

Manish Chauhan says:

1. No idea exactly . But you should get what you have in your EPS at the moment

2. YOu should transfer it to new EPF , else it will be taxable

Posted on October 19th, 2013

Vivek Purohit says:

Hi Manish, Kindly see below my work history:
4 years 3 months —- Org A (PF Transferred to Org C)
0 years 6 months —- Org B (PF withdrawn while joining Org C)
1 year 6 months —- Org C (Org A PF transferred to Org C)

Can I take PF advance for buying a flat from my PF account with Org C.

Posted on October 21st, 2013

vipin says:

Manishji,

I would like to know further about EDLI. You said that it gives Rs. 60,000/-. How it will give. An EPF person ( subscriber ) dies while in service normally or by accident . Kindly give your full advice.

Posted on October 24th, 2013

Venkat says:

Does any tax levied when withdrawing EPF (Irrespective of any number of companies you have changed and not withdrawn in previous company switches)?

Posted on October 25th, 2013

Abhishek singh says:

Hi manish

I have two queries

Firstly , what is the minimum working days requirement for opening an epf account..mi have worked in PSU but I dont know wether my PF is opened or not..pay slip only shows amount deducted but not pf no.

Secondl I am joining a new Psu now since there was bond in previous psu I want to keep it un disclosed. .is there any chance that new employer can get details of previous employer through PF details…isnt it linked with PAN card no??

Posted on October 26th, 2013

Manish Chauhan says:

As I know, most of the PSU’s have NPS account opened and not EPF account ! .

Posted on October 26th, 2013

Manish Chauhan says:

If its before 5 yrs of working , then it is part of your salary and taxed at slab rate !

Posted on October 26th, 2013

Manish Chauhan says:

it was an example – EDLI is not always applicable , contact your company department on finance to know more on this

Posted on October 26th, 2013

Manish Chauhan says:

You cant . there has to be continuous 5 yrs of service

Posted on October 26th, 2013

Abhishek says:

Nice article. Informative. Thanks :)

Posted on October 31st, 2013

Manish Chauhan says:

Welcome

Posted on November 4th, 2013

amin says:

sir,i had left one orgnasition in 2010 after 4 and half years and join new one.I had not withdraw or transfer pf. Just I have left second orgnistion after 2 and 1/2 years and join new organistion. What I should do with previous both pf.?

Posted on November 6th, 2013

Rajesh Nayak K says:

Hi,

I have got my PF transferred after lot of deliberations, visit etc. to PF office at Kandivali Mumbai to my present co’s. Trust.

This money was lying idle (Rs.83666/-) with Kandivali Mumbai, which was transferred from my previous co. and no interest was accruing as the same was not merged with my PF at Kandivali Mumbai. After lot of follow-up it was finally merged & transferred but with interest for only 3 years. This amount was lying with PF office at Kandivali for almost 6 years (Jul’2007 to Aug’2013) whereas inspite of transferring and not withdrawing I have got interest only for 3 years, hence as against expected amount of Rs.1.38 lacs I have got only Rs.1.10 lacs. with interest.
Please let me know if i am within my right to get the balance interest as I have not got my PF withdrawn right from 1996 to till date ie. for almost 17 years.

Posted on November 7th, 2013

Rajesh Nayak K says:

Is interest applicable on PF for entire tenure of 7 years, during which period the amount was lying idle with the PF office, in cases where such PF has been got transferred and not withdrawn. As I have recently transfered PF after 7 years (only due to inordinate delay from PF Office) but interest is paid by PF office only for 3 years saying dormant account.
Please guide me.

Posted on November 7th, 2013

Honey Malviya says:

Hello Sir,
I applied for PF deduction but its showing no record found on EPFO site.
What can be the issue?

Please accept and solve my query.
Thanks

Posted on November 10th, 2013

Manish Chauhan says:

Is your employer paying the EPF money regularly to EPFO department ? – http://www.jagoinvestor.com/2013/06/is-your-company-depositing-your-employee-provident-fund-epf-money.html

Posted on November 12th, 2013

Manish Chauhan says:

Yes, if account is inactive for more than 3 yrs, it becomes dormant and only interest given on it is for 3 yrs, but I think this rule came only 2-3 yrs back . So you should have got even the 3 yrs interest after the news. File RTI to get answers from EPFO

Posted on November 12th, 2013

Manish Chauhan says:

Yes, I think in your case, the transfer was not done by EPFO and thats their mistake. It the transfer would have happened (you would have got all interest) , so its service failure. I am sure you would get the justice, but the only thing is you will have to now fight for your right. I suggest file a RTI to EPFO on this first and then later go to consumer court on this . You will win – but a little late

Manish

Posted on November 12th, 2013

Manish Chauhan says:

YOu have both the options , If you are in need of money , better withdraw else transfer them to your new company !

Posted on November 12th, 2013

Rajesh Nayak K says:

Great Manish ji …. I really appreciate your sincere efforts in helping people which is a very noble cause … Keep it up !

Thanks

RAJESH NAYAK.K

Posted on November 13th, 2013

Manish Chauhan says:

Thanks Rajesh :)

Posted on November 14th, 2013

Asha says:

Hi Manish,

I have been working for 9+ years and haven’t withdrawn PF when I changed the company. Can I withdraw only EPS and continue the EPF part? If yes, what is the process.

Posted on November 19th, 2013

Nitin Jain says:

Hi Manish,

I worked from 2007 to 2010 say in company A and then I joined another company say B in 2010. I worked in company B for 6 months and by default they gave my PF amount after two months. I joined company C meanwhile. I transferred my PF amount of company A to company C. Now I left company C in 2013. Now I have no job and want to start my own setup. Also I am planning to withdrawal my PF amount. So first question is, for me PF amount would be taxable or not? and second is how much time it will take to get money? Please revert me back.

Posted on November 20th, 2013

Manish Chauhan says:

It will be taxable for you , because there was no “continuous” duration of 5 yrs working . Also it can take anywhere from 3-4 months to 1 yrs to get the EPF money . If it takes more than 3-4 months, file a RTI and ask the status of your EPF

Manish

Posted on November 23rd, 2013

Manish Chauhan says:

I dont think its possible to just take EPS part , I suggest double checking with RTI !

Posted on November 23rd, 2013

Nitin Jain says:

Thanks Manish for addressing my queries

Posted on November 25th, 2013

Raj says:

I am a working professional and I have my EPF account. What needs to be done with my EPF account & money if i plan to go for higher studies? I read somewhere that EPF is only for salaried professionals, so I won’t be eligible to make any contributions to this account for 2 to 3 years.
Would it b wise to start VPF at this point then ?

Posted on November 27th, 2013

anitha says:

i m anitha from vellore i m previous employer of india infoline i was worked in the period 2006 – 2007 how to get my pf settlement kindly suggest me

Posted on December 1st, 2013

ModeLearner says:

I have heard that pension is given only to Government employees. I am working in a private firm and my PF gets deduceted every month. Am I eligible for pension after my retirement? If yes, how should I calculate my pension amount per month?

Posted on December 4th, 2013

Sujeeth says:

Hi Manish,

I have worked in private company for 3 years. I left company 3 months back. However they were not paying salary properly and EPF amount also. For 4 months i.e. from June 2013-Sept2013 they have paid only employee’s contribution not the Employers.

Now I want to withdraw my PF. Is it mandatory that for withdrawing do I need to wait untill my previous company pays the balance amount ?
If yes, is there any provision that I can pay the balance amount and withdraw EPF and EPS money ?

Thanks & Regards,
Sujeeth

Posted on December 12th, 2013

Manish Chauhan says:

You dont need to wait for anyone . You can surely withdraw your money right away and because employer has not submitted their own share,you should also file a complain to EPFO on that and also complain to Police on this

Manish

Posted on December 12th, 2013

Manish Chauhan says:

Yes, but there are some conditions to that which is already discussed in the same article

Posted on December 12th, 2013

Manish Chauhan says:

You have to fill up EPF withdrawal form .. but your company should assist you on that !

Posted on December 12th, 2013

Manish Chauhan says:

Better withdraw it !

Posted on December 12th, 2013

Yogesh B says:

Hi All,
I have one concern about my EPF account. I gonna explain with example to got the exact point.
I was worked with one company “C1″ for about 3 years with EPF acc. “PF1″. Then I shift my job to company “C2″ with new PF acc. “PF2″. Unfortunately, after being with company “C2″ for about 3 months, i have had to left the company “C2″ due to financial problem of the company mgmt, so I again rejoined to my previous company “C1″ and told to continue my PF acc. “PF1″. Now my question is that:

1. Can I transfer amount from PF2 to PF1?

Posted on January 2nd, 2014

Manish Chauhan says:

Yes, why not . you can surely do that. I think your EPF money amount must be very small in PF2, but anyways you can do that. I assume you have not initiated transfer when you left company 2 , now better fill up the transfer form yourself and send it to EPFO !

Manish

Posted on January 4th, 2014

Nilabh Sharma says:

Hi,

I wanted to know if I can withdraw from my PF to pay for house loan. I have already withdrawn once for my marriage.

Posted on January 8th, 2014

Yogesh B says:

Thanks Manish.

Posted on January 8th, 2014

Manish Chauhan says:

I guess you can do that .

Posted on January 9th, 2014

Makardhwaj says:

Dear Sir,
Your article on PF is superb, too nice.
It’s like a ” GAGAR ME SAGAR BHARNA ” i.e. complete information/fact in brief.

Thanks a lot Sir.

Posted on January 12th, 2014

Wriju Bharadwaj says:

Hi Manish,

Say I have a EPF account number available with me “XY/333/SMPL/001199″. How can I find out the EPS account number?

I recently spoke to a friend who had withdrawn EPF and EPS (through two different forms) where the EPS number was provided by the employer in a pre filled form. When the same was submitted a reply came back saying the account number is wrong. BTW this is a private PF trust.

Any thoughts?
Thanks and Regards,

Wriju Bharadwaj

Posted on January 13th, 2014

Manish Chauhan says:

Hmm .. Actually I am hearing this for the first time. All I knew was a EPF number, a EPS part is already attached to it . I mean its mapped to it ! .

Posted on January 14th, 2014

Manish Chauhan says:

Thanks for your kind words :)

Posted on January 14th, 2014

Nagesh says:

Hi,

I have the following queries:

1. In my 1st company I have worked for 3 years(Apr-2004 to Mar-2007), In my 2nd company I am working from May-2007 to till-date(Nearly 7 years). Now I have applied for transfer of PF from my 1st company. My question is will Pension amount get deducted from my pf account? Is there any way to stop this?
2. If I withdraw the money from my 2nd company’s pf account(after getting the pf amount transferred from 1st companY) will I be eligible for pension. How will it work in this scenario?

Appreciate your help over here.

Regards,
Nagesh

Posted on January 16th, 2014

Manish Chauhan says:

I dont think you will be eligible for pension because first reason – you have not completed a continuous service of 10 yrs , and 2nd, it only starts after you are retired !

Posted on January 20th, 2014

anilkumar says:

Hi Manish..
I am having one query..If i have worked in some organisation for 35 years and My contribution towards EPS scheme is 541 which is maximum..
If I resigned from my job and applied for Pension after 58 of age..
Can i get lumpsum amount which I invested for EPS not in EPF & also Pension.
As per your detail, If any body worked in more than 10 years the EPS amount will be seased and elgible for pension..The amount which is deposited is EPS, we didn,t get any intrest for that..
So As per my calculation If I Deposited 541RS monthly in RD for 35 years As 8% P.a Intrest I will get around 12 lakhs..The same amount which I deposited in FD. I will get monthly around 7500 to 8000 monthly as Intrest..
But the EPS scheme is providing maximum 3200-3500 of Pension If the employee is Worked equal to maximum 35 years of service.
So As per My opinion Iam losing montly averagely around 3500-4000 minimum..
If I didn,t get Lumpsum amount for EPS that means they are do cheating with public..

Can u please tell me. Can i get lumpsum(with or without Intrest) amount and Pension na?

Posted on January 21st, 2014

R.Ravi says:

Mr. Manish
I have completed 09 years 1 month in the job . I want to withdraw my amount can I get full amount from EPF

Posted on January 23rd, 2014

raghav says:

i have taken the housing loan from EPF in the year 2007 for construction.
and also i have taken the housing loan from SBI bank on the same purpose.
a) Can i take the repayment of housing loan ( since still outstanding loan in their in SBI bank). I like to clear the same.
b) what all the document i Need to submit?

Thak U,

Posted on January 26th, 2014

thiru says:

Hi Manish,

I am working in a company for almost 3 years. I had informed my employer that i don’t need EPF. But i would like to have now. Can you please tell me how to approach my employer.

Thanks in advance.

Posted on January 27th, 2014

Sathish kumar says:

Hi,
I’ve a doubt about pension formula that
Pension = (6500*35)/70
My doubt is why devided by 70 ?
what is 70?
Please clarify.

Posted on January 30th, 2014

Manish Chauhan says:

Thats just the number , its not a variable !

Posted on January 30th, 2014

Manish Chauhan says:

Hmm .. I am not very sure on that part .I think the best thing will be to meet the finance team of your company, they will be able to guide you on this

Manish

Posted on January 30th, 2014

Manish Chauhan says:

Hi Raghav

I suggest you open up this query on our forum for detailed discussion – http://www.jagoinvestor.com/forum

Posted on January 30th, 2014

Manish Chauhan says:

Yes

Posted on January 30th, 2014

Manish Chauhan says:

I dont think you will get lumpsum from your EPS part, but for EPF you will get it

Posted on January 30th, 2014

Rahul Mukherjee says:

Hi Friends,

Could anyone guide me how to solve the PF issue at moment.I was working with CSC india when i got my PF transfered from Satyam and Wipro Technologies.From Satyam computers employee share which is mine was transferred correctly while the employer share which includesPF+PENSION, pension fund was not transfered.I submitted one form 13 to satyam while i was in CSC to get my pf transfered.I downloaded my epass book from government of india and found that pension fund was not transfered .The same was the case with wipro.

Oct 2007–I joined Satyam and left satyam feb 2010
March 2010 i joined Wipro and left wipro on may 2010
june 2010-joined CSC .I applied for PF transfer from both Satyam and Wipro.In both i submitted one 13 form for satyam and one 13 form for wipro.Still the pension is not transfered ,only pf is transfered.

Could anyone guide me how to get pension fund transfer.I raised grievience with Satyam Computers concerned pf office and they gave the answer-

This is with reference to your Grievance registered vide Registration Number xx/xx/xx/xx
It is informed that after processing your grievance,the following action(s) has been taken:
It is informed that, an amount of Rs.xxxxx/- towards EPF was transferred to xx/xx/xx/xx through cheque NO.xxxx dated 05/01/2011 alongwith the above Annexure’K’ (Transfer document) was also forwarded to the concerned PF office based on which the above amount and EPS (Pensionable Service) which is furnished in the transfer documents were to be credited in your PF a/c to which the above details were sent. As per the EPS rules, the service rendered by you in your previous & present spell of (EPS) service is the only requirement for pension eligibility or for withdrawal.

Therefore, we are closing your grievance from this office.Please quote the same in your future correspondence.

I also raised grievenece with Wipro (which has PF trust) and they replied-

We have received one form 13 and we have processed your PF amount and If you would like to transfer your Pension a/c to your new employer, please send us one more form 13 transfer applications to the below mentioned address through your new employer, On receipt of the same we shall process and transfer your Pension a/c.
1. EPF and FPF A/c No. is one and the same.
2. Please note that your PF a/c is maintained by Wipro Provident Fund Trust.
3. Trust address is as follows.
Wipro PF Trust,
EC 1, 3rd Floor, Tower 4
No 72 Keonics Electronic City,
Hosur Main Road, Bangalore-560100

whatever amount they have mentioned i check in my online epassbook that pension fund is missing while only pf part of employer share is given.Please help me to get my Pension fund transfered.Also why reply from Satyam and Wipro is different

Regards,
Rahul

Posted on January 30th, 2014

Sathish kumar says:

Hi Manish,
Thanks for your reply.
I know that it’s a number!
But why don’t we divide by 40,50,60,80,90,100………?
I’m asking you the reason that why should divide by 70?
Please explain cause nobody giving suitable clarification!

Posted on January 31st, 2014

Manish Chauhan says:

I am not 100% sure on that number, But may its some “expected age” ! . Just a guess !

Posted on January 31st, 2014

Manish Chauhan says:

Hi Rahul

Your case seems to be complicated, but now you should use RTI as tool to find out information about the transfer of EPF and its status

Posted on January 31st, 2014

Suri Mangal says:

Greetings!!!

May I request if anyone can suggest me on my issue that I am facing with the withdrawal of my PF. I have been seeing status at the http://epfoservices.in/claim_status and since Oct 16th 2013, I am seeing that my PF has been settled and getting this update: “Claim Form 19 for PF Settlement AGAINST Member Account No (GNGGNxxxxxxxx) has been settled. Payment sent through NEFT). However, I havent recieved anything yet in my bank.

Kindly help !!

Regards
Suri

Posted on February 10th, 2014

muralidhara says:

How much maximum amount to calculate a Provident Fund for the employees?
Please reply

Posted on February 11th, 2014

Manish Chauhan says:

Not sure what is your question

Posted on February 14th, 2014

Manish Chauhan says:

Hi Suri

Seems like they payment is first done to SBI bank who then transfers it to final member ! , so you need to co-ordinate it with EPFO ,. File a RTI on this and I am sure it will get settled pretty fast !

Posted on February 14th, 2014

Jyoti says:

Hi manish,

I have one question, we have withdrawn our EPF for house down payment 4 yrs back, and my husband has completed 10 yrs of service. Are we eligible for EPS after 58 yrs or can withdraw the amount as per our wish anytime?

Posted on February 16th, 2014

Kiran says:

Hi Manish

Thanks for this useful information

If only 541 is going towards EPS than how much pension one can get from it

Posted on February 18th, 2014

Jadeja Kuldip says:

How can i request for a e passbook on member portal or mail or sms ? and when i download it from member portal it shows only trancisation up to nov-2012.

Posted on February 18th, 2014

Manish Chauhan says:

Yes, but thats a rotten system . do not rely on that. Use RTI to access the information from EPFO , its the best , but slow way !

Posted on February 21st, 2014

Manish Chauhan says:

I have already mentioned about it in the article itself, did you not get it ?

Posted on February 21st, 2014

Kiran says:

You have mentioned maximum limit 3250, but what is the actual amount as I guess minimum amount is 1000. so it can be anything between this, but what are the criteria for calculation.

Thanks again for wonderful information.

Posted on February 21st, 2014

Jadeja Kuldipsinh says:

I can not understand what u want to say ? Please explain in detail ?

Regards,

Kuldip.

Posted on February 21st, 2014

Manish Chauhan says:

After 10 yrs of service, its compulsory to take pension, you cant withdraw it now . As far as my understaning

Posted on February 21st, 2014

Manish Chauhan says:

I mean to say that the e-passbook website has lot of issue and they do not update the records . But if you use RTI , it will give you 100% correct answer, but it will take 40-50 days, it will not be instant !

Posted on February 21st, 2014

Jadeja Kuldipsinh says:

ok Thanks for information. How can i use RTI ? Please explain in detail ?

Posted on February 21st, 2014

Shan says:

Hi Manish,

I have initiated my EPF transfer online from my previous employer to my current employer. I dint see a provision in that online form to include EPS for this transfer.

Will both my EPF & EPS amounts get transferred to my current EPF account?

Appreciate your help on this.

Regards,
Shan

Posted on February 27th, 2014

Manish Chauhan says:

I am not sure if EPS form was given to you or not . Please check with employer once if that was filled ?

Posted on March 2nd, 2014

SHAN says:

No manish,

There was no option in Online application form to include EPS while initiating a transfer.

My question is if its not included part of online transfer, then how to transfer that amount to my new PF account. And the form to be used for that?

My previous employer wont have it unless i fill that specific form and give them right?

Shan

Posted on March 2nd, 2014

Manish Chauhan says:

I believe its form 13, which you can download from EPFO website

Posted on March 3rd, 2014

Manish Chauhan says:

You will get an idea here – http://www.jagoinvestor.com/2012/03/rti-for-epf-withdrawal-or-transfer.html

Posted on March 3rd, 2014

SHAN says:

Hi Manish,

Got it confirmed from the finance team of my previous employer that, via Online transfer request, both EPF & EPS would get transferred to the notified PF account. No need of applying via separate form.

Shan

Posted on March 3rd, 2014

Manish Chauhan says:

Thats great !

Posted on March 12th, 2014

Nisrin Manva says:

Hi ,

i have recently resgined from my company post 10 yrs of service. i understand now that i can withdraw EPF and not EPS. Although for my understanding, how much % from the the overall funds can i withdraw. Also how do i claim for EPS at age of 58?

Posted on March 27th, 2014

Sumit Bakshin says:

After going through the complete article, it feels that there is no stone left unturned in this area of knowledge. I am very impressed with the content provided in the thread and your helpful attitude Manish.

Thanks once again for this meaningful article.

Regards
Sumit

Posted on April 2nd, 2014

Ashish says:

Hi Manish,

I came to US more than two years ago and since then there is no contribution to my PF. Now I work for a US company which obviously is not contributing to EPF. Will it be illegal to withdraw EPF balance by stating that I do not have any job in India?

Can you guide which form I need to fill for this?

Thanks,
Ashish

Posted on April 3rd, 2014

Sanil says:

Dear Manish,
I understood for a site purchase I can withdraw 24 times of my basic salary or Accumulation, whichever is less. But one confusion accumulation means only Employer contribution or Employee contribution also.
Could you please clarify.
Regards
Sanil

Posted on April 5th, 2014

Anjan says:

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.

Posted on April 8th, 2014

Praneet says:

Hi Manish,

I have 4yrs of IT experience,
I am about to leave my current company.How much percentage of tax will be levied on my PF amount if i withdraw it.

Posted on April 9th, 2014

Manish Chauhan says:

It is based on your SLAB , there is no fixed rate, if you are in 30% slab, then 30% !

Posted on April 10th, 2014

Manish Chauhan says:

You will get your answer here – http://www.jagoinvestor.com/2014/02/withdraw-from-epf-account-for-buying-house-marriage-education-and-medical-treatment.html

manish

Posted on April 10th, 2014

Manish Chauhan says:

Not at all, its perfectly fine to ask for WITHDRAWAL .. you might have to mention that you are now in US and want to withdraw your job, it will be required by you to produce your VISA and also some proof of you being in US . just make sure you use RTI here for faster processing if possible !

Posted on April 10th, 2014

Manish Chauhan says:

Thansk Sumit !

Posted on April 10th, 2014

Manish Chauhan says:

Better open a thread for discussion at our forum for this – http://www.jagoinvestor.com/forum

Posted on April 10th, 2014