Hi Manish
The write up on RTI in jagoinvestor.com is really very very helpful. Thanks a lot to you and your team for the site.
I would be grateful if you can help me with my queries.
I am working with the same company for the past 15 years. While I was posted in their Kolkata branch, my PF and VPF was getting deposited in the account with EPFO,Kolkata. However in 2010, I got transferred to Mumbai (HQ). The employees in our HQ have their PF account with our company trust itself. So, a new PF was opened for me in Mumbai with my company.
Now what I want to know is
1> Can I leave the EPFO account in Kolkata as it is..??
2> Is there any legal problems in not getting the money tranferred to my new EPF and subsequently closing the old EPF account..??
3> If it is allowed to keep the account alive in the abovementioned scenarion, will the EPFO ( including my VPF) account in Kolkata continue to earn interest as declared by the govt every year..??
4> Since there is no employer contribution, then will the 8.33% towards pension get debited from my interest income..?? I think it wont but would like you to confirm please as there is some discrepency in the interest income received and am trying to find the reason.
5> I have found from the net that some EDLI changes of 0.51% and administrative charges of 1.1% are calculated on the basic salary and paid by the employer to EPFO. Since there would be no further contribution to my EPF account every year, will the EDLI and Admin still be debited..??
6> I was transferred to Mumbi in September 2010. The last contribution to my PF account was till September 2010. The balance in my EPFO account was Rs.5,69,337 as on Mar 2011. The interest for 2011-12 was 8.6%. As per my calculation, the interest income received by me should be Rs.48963/- in 2011-12 but I have received Rs.46970/- i.e a short of Rs.1993/-. Would you be able to help me with the plausible reason for this difference. I am sure I am making some mistakes in my calculation but unable to place my finger on it.
I apologise in advance if you find my queries to be too many.
Thanks
Koel