Dear Brajesh Kumar Tiwari,
It is really unfortunate to hear the manner in which your case has been handled.
I would sincerely recommend that you meet the EPF authorities dealing with your establishment. In some cases establishments have their own PF trust and the trustees are responsible for settling matters. In any case the EPF authorities can help you in finding out whether your establishment is covered under the EPF office or is operating as a seperate trust. The officials in Government offices these days extend a helping hand in almost all cases and surely your case will be dealt by them favourably.
As regards Gratuity you can seek clarification from your establishment giving them your Date of Joining and Exit and work out the actual payment due to you. The calculation is simple.
Your last drawn Basic pay + Dearness Allowance (if any)/ 26 X 15 X Number of years of completed service.
In case the number of year of service is more than six months say 24 years and 6 months it is deemed as 25 years and if it less than six months it is considered as 24 years. Seek clarification from them as to why there is a difference in payment made by them.
Keep us updated on the developments and we shall extend all the help required.
M.V.KANNAN
From India, Madras
257It is really unfortunate to hear the manner in which your case has been handled.
I would sincerely recommend that you meet the EPF authorities dealing with your establishment. In some cases establishments have their own PF trust and the trustees are responsible for settling matters. In any case the EPF authorities can help you in finding out whether your establishment is covered under the EPF office or is operating as a seperate trust. The officials in Government offices these days extend a helping hand in almost all cases and surely your case will be dealt by them favourably.
As regards Gratuity you can seek clarification from your establishment giving them your Date of Joining and Exit and work out the actual payment due to you. The calculation is simple.
Your last drawn Basic pay + Dearness Allowance (if any)/ 26 X 15 X Number of years of completed service.
In case the number of year of service is more than six months say 24 years and 6 months it is deemed as 25 years and if it less than six months it is considered as 24 years. Seek clarification from them as to why there is a difference in payment made by them.
Keep us updated on the developments and we shall extend all the help required.
M.V.KANNAN
From India, Madras
Dear Mr Kannan,
While searching the net for EPS withdrawal after 10 years, I came across your posting and I believe your reply is quite helpful. A quick clarification: table-D gives multiplicative factors only upto 9 years, so in case EPFO allows EPS withdrawal after 10 years under exceptional circumstances e.g in the 15th year/20th year-how much (what is the multiplicative factor) of money can one expect to get from the EPS fund in the 15th year/20th year (any rule of thumb?) Further is the money withdrawn for EPS part taxable?
Again, I am working with a pvt sector company and have plans to continue working with it till mid 2017 and by that time I would complete 12 years of membership with EPFO. My age at that time would be 39. Thereafter, I intend to join a teaching institute NIT as faculty and I would not be able to contribute to EPS/EPF (can I still continue to contribute to EPF on my own then?) as I would be mandatorily contributing to NPS, can I still withdraw the EPS component on then (and would that case be coming under exceptional circumstances) and what would be the multiplicative factor in that case ie. 6500*X. What would the value of X be? And in case EPFO does not allow me to withdraw the EPS component in 2017, would that mean that I would be drawing a pension of just Rs 1114 per month (calculated as 6500*12/70) from 2039 onwards when I attain an age of 58? If this is true, then it is peanuts and govt is cheating us in that case, as I can invest the money (if EPS allows me to withdraw) and let it grow and then I can buy an annuity in 2039 which will fetch me much higher returns per month than Rs 1114 ?
Btw, when if I were to switch compnay now (I have not completed 9.5 years of EPF membership yet), can I transfer just the EPF part of it to the new company and withdraw the whole of EPS part separately now (And the remaining EPS part for the new company separately in 2017) ?
Regards
Sumit
From India, Bangalore
While searching the net for EPS withdrawal after 10 years, I came across your posting and I believe your reply is quite helpful. A quick clarification: table-D gives multiplicative factors only upto 9 years, so in case EPFO allows EPS withdrawal after 10 years under exceptional circumstances e.g in the 15th year/20th year-how much (what is the multiplicative factor) of money can one expect to get from the EPS fund in the 15th year/20th year (any rule of thumb?) Further is the money withdrawn for EPS part taxable?
Again, I am working with a pvt sector company and have plans to continue working with it till mid 2017 and by that time I would complete 12 years of membership with EPFO. My age at that time would be 39. Thereafter, I intend to join a teaching institute NIT as faculty and I would not be able to contribute to EPS/EPF (can I still continue to contribute to EPF on my own then?) as I would be mandatorily contributing to NPS, can I still withdraw the EPS component on then (and would that case be coming under exceptional circumstances) and what would be the multiplicative factor in that case ie. 6500*X. What would the value of X be? And in case EPFO does not allow me to withdraw the EPS component in 2017, would that mean that I would be drawing a pension of just Rs 1114 per month (calculated as 6500*12/70) from 2039 onwards when I attain an age of 58? If this is true, then it is peanuts and govt is cheating us in that case, as I can invest the money (if EPS allows me to withdraw) and let it grow and then I can buy an annuity in 2039 which will fetch me much higher returns per month than Rs 1114 ?
Btw, when if I were to switch compnay now (I have not completed 9.5 years of EPF membership yet), can I transfer just the EPF part of it to the new company and withdraw the whole of EPS part separately now (And the remaining EPS part for the new company separately in 2017) ?
Regards
Sumit
From India, Bangalore
Dear Sir if we withdraw only PF amount (i.e we only submit the form 19) and keep the pension amount with EPF authority, do we get the benefit of pension scheme at the age of 58 years.??
From India, Mumbai
From India, Mumbai
Defenitely. If you have a service of 9 years and 6 months or more you will get pension. Otherwise you are eligible for withdrawal benefit . . Abbas.P.S
From India, Bangalore
From India, Bangalore
Dear Abbas Sir,
I have a real life question.Please guide.
A person XYZ was terminated on illigimate ground on Jan,1,2010. The case is subjudice(labout court/industrial court). The PF deduction stopped on Jan 1,2010 itself.
1. In Sep 2013, XYZ applied for PF withdrawal. How new rule of inoperative account will be applicable here. (Account inoperative for more than 36 months will not get interest etc etc.) The circular was applicable from April 1,2011. Please enlighten. Will XYZ get interest from Jan 1,10 to Sep 2013 or only till Jan 2013? Should XYZ calculate 36 months from April 1 ,2011? Interest calculated by EPFO is less than his calculation. Written to EPFO but no reply yet.
2. The employer also applied for pension i.e 10D. XYZ got first monthly pension in Oct 2013 (Rs. 1692). Actually EPFO should give pension from Jan 1,2010. How can XYZ apply/claim for arrears (Jan 2010 to Sep 2013)? (EPFO took Jan 1,2010 as the date of separation while calculating pension amount)
Awaiting your guidance!
P.S- Your pension calculator sheet is very useful.
Thanks and Regards!
Shri
From India, Delhi
I have a real life question.Please guide.
A person XYZ was terminated on illigimate ground on Jan,1,2010. The case is subjudice(labout court/industrial court). The PF deduction stopped on Jan 1,2010 itself.
1. In Sep 2013, XYZ applied for PF withdrawal. How new rule of inoperative account will be applicable here. (Account inoperative for more than 36 months will not get interest etc etc.) The circular was applicable from April 1,2011. Please enlighten. Will XYZ get interest from Jan 1,10 to Sep 2013 or only till Jan 2013? Should XYZ calculate 36 months from April 1 ,2011? Interest calculated by EPFO is less than his calculation. Written to EPFO but no reply yet.
2. The employer also applied for pension i.e 10D. XYZ got first monthly pension in Oct 2013 (Rs. 1692). Actually EPFO should give pension from Jan 1,2010. How can XYZ apply/claim for arrears (Jan 2010 to Sep 2013)? (EPFO took Jan 1,2010 as the date of separation while calculating pension amount)
Awaiting your guidance!
P.S- Your pension calculator sheet is very useful.
Thanks and Regards!
Shri
From India, Delhi
Hello
I have worked in a company for 4 years and 11 months. Now iam moving to abroad for another job. I would like to withdraw my PF amount. Can anybody help out in this? How can I claim and what are the documents that I needed for this application.
thank you
ROopesh
From India, Noida
I have worked in a company for 4 years and 11 months. Now iam moving to abroad for another job. I would like to withdraw my PF amount. Can anybody help out in this? How can I claim and what are the documents that I needed for this application.
thank you
ROopesh
From India, Noida
Hello,
I have not completed my 10 years (7.5 now). I will be leaving in 2 months.
I went through http://epfindia.com <link updated to site home> to check for my eligibility for Pension, but am confused with:
""
WHO CAN APPLY:
1. A member of the Employees’ Family Pension Scheme, 1971/ Employees’ Pension Scheme,1995 - (a) who has left the employment before completion of 10 years service;
Type of benefit eligible
1) A member falling under Item 1 (a) above is eligible and may apply to get the amount towards withdrawal benefit.
2) A member falling under Item 1 (a) above is not eligible to get Pension and has to apply to get the amount towards withdrawal benefit.
""
Does this mean I am eligible?
Or, does it mean in order to get my hard earned money, I have to fill some other form?
Also, what would be my benefit %, and what is Table D?
I joined in August 2007, and might leave by April 2015, end.
Danke Schôn
Vishal
From India, Kolkata
I have not completed my 10 years (7.5 now). I will be leaving in 2 months.
I went through http://epfindia.com <link updated to site home> to check for my eligibility for Pension, but am confused with:
""
WHO CAN APPLY:
1. A member of the Employees’ Family Pension Scheme, 1971/ Employees’ Pension Scheme,1995 - (a) who has left the employment before completion of 10 years service;
Type of benefit eligible
1) A member falling under Item 1 (a) above is eligible and may apply to get the amount towards withdrawal benefit.
2) A member falling under Item 1 (a) above is not eligible to get Pension and has to apply to get the amount towards withdrawal benefit.
""
Does this mean I am eligible?
Or, does it mean in order to get my hard earned money, I have to fill some other form?
Also, what would be my benefit %, and what is Table D?
I joined in August 2007, and might leave by April 2015, end.
Danke Schôn
Vishal
From India, Kolkata
Dear Danke Schôn Vishal,
If your service in EPS is from 2007 August to 2015 April, you will get a withdrawal amount equal to 8.22 x salary. Table D is dealing with the multiplying factor for calculating withdrawal benefit for a service of 1 to 9 years in EPS-95 and 8.22 is the multiplying factor for 8 years as per Table D.
Abbas.P.S
From India, Bangalore
If your service in EPS is from 2007 August to 2015 April, you will get a withdrawal amount equal to 8.22 x salary. Table D is dealing with the multiplying factor for calculating withdrawal benefit for a service of 1 to 9 years in EPS-95 and 8.22 is the multiplying factor for 8 years as per Table D.
Abbas.P.S
From India, Bangalore
I have reproduce a posting that I came to notice now only.
Dear Abbas Sir,
I have a real life question.Please guide.
A person XYZ was terminated on illigimate ground on Jan,1,2010. The case is subjudice(labout court/industrial court). The PF deduction stopped on Jan 1,2010 itself.
1. In Sep 2013, XYZ applied for PF withdrawal. How new rule of inoperative account will be applicable here. (Account inoperative for more than 36 months will not get interest etc etc.) The circular was applicable from April 1,2011. Please enlighten. Will XYZ get interest from Jan 1,10 to Sep 2013 or only till Jan 2013? Should XYZ calculate 36 months from April 1 ,2011? Interest calculated by EPFO is less than his calculation. Written to EPFO but no reply yet.
2. The employer also applied for pension i.e 10D. XYZ got first monthly pension in Oct 2013 (Rs. 1692). Actually EPFO should give pension from Jan 1,2010. How can XYZ apply/claim for arrears (Jan 2010 to Sep 2013)? (EPFO took Jan 1,2010 as the date of separation while calculating pension amount)
Awaiting your guidance!
P.S- Your pension calculator sheet is very useful.
Thanks and Regards!
Shri
Posted 9th November 2013
Dear friend,
1. Stoppage of interest on inoperative fund will be applicable only applicable after completion of 36 months in compliance with the circular i.e from 1.4.2011
2. Regarding pension applicability kindly furnish Date of Birth.
Abbas.P.S
From India, Bangalore
Dear Abbas Sir,
I have a real life question.Please guide.
A person XYZ was terminated on illigimate ground on Jan,1,2010. The case is subjudice(labout court/industrial court). The PF deduction stopped on Jan 1,2010 itself.
1. In Sep 2013, XYZ applied for PF withdrawal. How new rule of inoperative account will be applicable here. (Account inoperative for more than 36 months will not get interest etc etc.) The circular was applicable from April 1,2011. Please enlighten. Will XYZ get interest from Jan 1,10 to Sep 2013 or only till Jan 2013? Should XYZ calculate 36 months from April 1 ,2011? Interest calculated by EPFO is less than his calculation. Written to EPFO but no reply yet.
2. The employer also applied for pension i.e 10D. XYZ got first monthly pension in Oct 2013 (Rs. 1692). Actually EPFO should give pension from Jan 1,2010. How can XYZ apply/claim for arrears (Jan 2010 to Sep 2013)? (EPFO took Jan 1,2010 as the date of separation while calculating pension amount)
Awaiting your guidance!
P.S- Your pension calculator sheet is very useful.
Thanks and Regards!
Shri
Posted 9th November 2013
Dear friend,
1. Stoppage of interest on inoperative fund will be applicable only applicable after completion of 36 months in compliance with the circular i.e from 1.4.2011
2. Regarding pension applicability kindly furnish Date of Birth.
Abbas.P.S
From India, Bangalore
Dear Sir,
My name is sanjay (age 45year) and i have worked in a company 10year 2months. I have sent my pf from 19,10c to pf office for withdrawal the amount. Epfo cleared the my form 19 and deposit the amount in bank a/c. But they returned my 10c stating the "not eligible for withdrawal benifit service greater than 10 years"
Pls guide me what should I do?
From India, Dehradun
My name is sanjay (age 45year) and i have worked in a company 10year 2months. I have sent my pf from 19,10c to pf office for withdrawal the amount. Epfo cleared the my form 19 and deposit the amount in bank a/c. But they returned my 10c stating the "not eligible for withdrawal benifit service greater than 10 years"
Pls guide me what should I do?
From India, Dehradun
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PF guidleines for Pension fund.pdf