not getting Amount

POSTED BY robin shivhare ON March 26, 2012 4:29 pm ONE COMMENT

Hi Manish ji,
i have apply to withdraw my pf amount and i have applied for it after 2 year i have not received the amount i am pasting the mail which is reply me by the my previous employer i want to know that is it right or not plz help me

first mail :
Dear Mr. Robin Shivhare,
We are in receipt of your PF withdrawal/Transfer form no. 19 along with
Pension form no. 10C.
In this regard, would like to inform you that:-
HDFC Standard Life Insurance Company Ltd.(herein after referred to as
”Company”) earlier maintained a PF trust which was recognized under Income
Tax Act, 1961. The Employees’ Provident Fund & Misc. Provisions Act, 1952
was made applicable to HDFC Standard Life Insurance Company Ltd. effective
November 16, 2007. The company thereafter made an application for exemption
under Para 27A of EPF & MP Act 1952 & Scheme framed there under for
maintaining an exempted PF trust, which was not conceded by the appropriate
authority.
Consequentially, the company had to surrender the existing HDFC Standard
Life Employees’ Provident Fund Trust to the Regional Provident Fund
Commissioner effective November 2010 contribution. The company thereafter
started depositing the contribution of all its active employees then to the
Regional Provident Fund Commissioner at Bandra.
The aforesaid process of transfer of trust to the Regional Provident Fund
Commissioner Office, Bandra is still in process and the company on account
of this transition is currently not authorized to process any PF & Pension
Settlement or Transfer or withdrawal of claims. Hence, the settlement would
only start post completion of the entire transition to the Regional
Provident Fund Commissioner Office, Bandra which will take around another
3-4 months. The settlements post this transition would be effected from
Regional Provident Fund Commissioner Office, Bandra.
While we agree on the inconvenience caused to you on account of such delay
in settlements, but given the statutory procedure defined, the company as
lawful corporate is adhering to the same and putting its best efforts in
closure of the issue on priority basis.
Thanks & Regards
PF Team | Human Resources I HDFC Standard Life Insurance Company Ltd EPF
Trust., Corporate Office, 12th floor, Lodha Excelus, Apollo Mills
Compound, N.M.Joshi Marg, Mahalaxmi, Mumbai 400 011
Connect With Us On
2nd mail :
Dear Mr. Robin Shivhare
HDFC Standard Life Insurance Company Ltd since inception maintained the
Provident Fund Trust on its own. Consequently as per provisions of the
Provident Fund Act, the company made an application to the appropriate
government authorities for “exemption” from profitability requirement so
that trust could still be managed by the company. The application was not
approved and we had no choice but to transfer the trust.
In view of the above and to avoid further inconvenience and delay to the
members, the Company, effective November 2010 decided to surrender the
trust to the Regional Provident Fund Commissioner. Normally once the trust
is surrendered, it does take time for movement of the trust. However, given
the complex nature of transfer it takes even more time if the trust has
been in existence for sometime and has large number of transactions. We
have of course continued to deposit the monthly contribution for all its
active employees since November 2010, transferred the existing funds in the
trust account to RPFC and also filed required documents for transfer of
securities to the authorities. The company has also started submission of
PF & Pension settlement forms effective December 2011 to the authorities.
We have received the requisite acknowledgements for each of these
submissions.
While we understand and regret the inconvenience caused to the members on
account of the entire transition, however, given that the process is
cumbersome involving huge sums of money, it normally takes a long time. We
are taking every possible step and action required to ensure speedy
settlement of your PF claim. However, we can push only that much and
finally it is entirely upto the convenience of Government authorities to
close the process. Given the progress made to date we believe it will take
another 2-3 months before the process is over and we return to normalcy.
We would like to assure members that their contributions are safe and would
attract interest till the date of settlement. In the mean time, you can be
in touch base with the following personnel whose email ids and cell phone
number is mentioned in case of any further queries. (Abhay Dhyagude –
adhayagude@hdfclife.com (cell 9920190481))
Regards,
PF Queries
3rd Mail :
—– Forwarded Message —–
From: PF Queries
To: robin_shivhare2000@yahoo.com
Sent: Tuesday, January 10, 2012 1:28 PM
Subject: Status on HDFCSL Employee Provident Fund Trust transition to Regional Provident Fund Commissioner, Bandra. Emp. No.17777
Dear Mr. Robin Shivhare
HDFC Standard Life Insurance Company Ltd since inception maintained the
Provident Fund Trust on its own. Consequently as per provisions of the
Provident Fund Act, the company made an application to the appropriate
government authorities for “exemption” from profitability requirement so
that trust could still be managed by the company. The application was not
approved and we had no choice but to transfer the trust.
In view of the above and to avoid further inconvenience and delay to the
members, the Company, effective November 2010 decided to surrender the
trust to the Regional Provident Fund Commissioner. Normally once the trust
is surrendered, it does take time for movement of the trust. However, given
the complex nature of transfer it takes even more time if the trust has
been in existence for sometime and has large number of transactions. We
have of course continued to deposit the monthly contribution for all its
active employees since November 2010, transferred the existing funds in the
trust account to RPFC and also filed required documents for transfer of
securities to the authorities. The company has also started submission of
PF & Pension settlement forms effective December 2011 to the authorities.
We have received the requisite acknowledgements for each of these
submissions.
While we understand and regret the inconvenience caused to the members on
account of the entire transition, however, given that the process is
cumbersome involving huge sums of money, it normally takes a long time. We
are taking every possible step and action required to ensure speedy
settlement of your PF claim. However, we can push only that much and
finally it is entirely upto the convenience of Government authorities to
close the process. Given the progress made to date we believe it will take
another 2-3 months before the process is over and we return to normalcy.
We would like to assure members that their contributions are safe and would
attract interest till the date of settlement. In the mean time, you can be
in touch base with the following personnel whose email ids and cell phone
number is mentioned in case of any further queries. (Abhay Dhyagude –
adhayagude@hdfclife.com (cell 9920190481))
Regards,
PF Queries
Please suggest me what should i do
Robin Shivhare

One reply on this article “not getting Amount”

  1. Dear Robin, please wait for some more time i.e. another 2-3 months. Some how I feel, HDFC Life is not at fault in your case & it’s the RPFO to blame for this mess. Please wait.

    Thanks

    Ashal

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