POSTED BY June 27, 2014 2:10 pm NO COMMENTSON
I had left my previous organisation in Mar 2011. The organisation has its own PF trust. I could not collect the PF money transferred to my new organisation. I have request the previous organisation to settle my PF on 26th June. I am informed that
” This is to inform you that the interest on your PF accumulations has been ceased to accrue w.e.f 29th July 2011 as per the Rules and Regulation of our PF Trust. Your PF balances has been transferred to Retired Members account upon authorization of final settlement after considering interest calculated in terms of Rule 19 read with 9 (d) of rules and Regulations of the Fund. As a result, interest ceased to accrue from the date of transfer of PF balance to retired members account upon authorization of aforesaid settlement. Accordingly, while processing the PF Settlement claim, no further interest on this existing retired member account will be considered”
On the face of it it looks really unjust not to pay the interest when I am sure, they would have accrued the interest during that period. Request for help and suggestion.