Are you a salaried Employee? Do you contribute a portion of your monthly salary towards Employees’ Provident Fund (EPF)? Are you aware that your employer also contributes a matching amount towards your EPF account? Do you know about the various components of your employer’s PF contribution? Are you aware of ‘how interest is calculated on your monthly subscriptions to Provident Fund?
I was in need of the EPF statement to resolve all the above queries and answer them in a simple and easy to understand manner. Since I am a self employed individual, I can’t contribute to Employees provident Fund and do not have online access to EPF UAN (Universal Account Number) member portal. (You can view or download your EPF statement online @ EPFO’s UAN Member Portal)
Many thanks to one of my good friends for sharing his latest employees’ provident fund statement and that has helped me in preparing this post. Before analyzing the EPF statement and how EPF’s interest is calculated, let us first understand the various components of EPF.
Latest Update (Budget 2021) : Interest on EPF Contributions above Rs 2.5 lakh is Taxable | Budget 2021
What are the Components of my Employees Provident Fund (EPF account)?
If you take out your monthly pay-slip and check, you can understand that every month 12% of your “salary” is contributed towards EPF account. Your total monthly contribution is routed towards Employees’ Provident Fund.
Your employer also contributes 12% of the salary to your EPF a/c. But your employer’s monthly contribution is routed towards various components of PF.
Out of this 12% of your employer’s monthly contribution, 8.33% goes towards EPS (Employees Pension Scheme) and only 3.67% is invested in Employees’ Provident Fund (EPF). So, you contribute 12% of your basic salary and your employer contributes 3.6% of your basic salary towards EPF deposits.
What are the new amendments made to EPF & EPS schemes?
Below are the amendments/changes made to EPFO’s EPS scheme in August 2014. (EPFO is Employees’ Provident Fund Organisation)
- EPF a/c is mandatory if your salary is less than Rs 15,000 pm. Previously this amount was limited to Rs 6,500 pm. (The definition of SALARY for EPF calculation is : Salary = Basic + Dearness Allowance)
- Latest Update (01-Mar-2019) : As per the Supreme Court judgement, employers cannot segregate ‘special allowance’ from basic wages for purpose of PF deductions.
- Cash allowances (dearness allowances) including but not limited to travel allowance, canteen allowance, special allowance, management allowance, conveyance allowance, education allowance, medical allowance, special holidays, night shift incentives and city compensatory allowances to employees are part of ‘basic wages’ for calculation of Provident Fund contributions.
- As mentioned above, you contribute certain portion of your monthly salary towards EPS (Pension). You receive the pension amount from this Employees’ Pension Scheme. The minimum pension to a pension holder is now decided as Rs 1,000 pm.
- The EPF’s account holder can nominate any family member as a nominee. On any unfortunate event (on death), the family member of the EPF subscriber will receive Rs 3 Lakh as insurance coverage. Previously this was around Rs 1.56 Lakh only. (Do not forget to inform your nominee about this provision).
- The minimum contribution used to be 12% of Rs 6,500 in most of the employees’ cases, now this is 12% of Rs 15,000 pm. So, you may now be depositing Rs 1,800 towards EPF. Whereas, you employer may now be contributing Rs 550 pm and Rs 1,250 pm towards EPF and EPS (pension) respectively.
Kindly note that the above figures are for minimum contributions. Check your pay-slip or EPF statement to know about your employer’s and your contribution percentages.
Understanding the components/sections in EPF online Statement: 
- The first column (PARTICULARS) gives you the particulars of month-wise contributions, interest updated date and about the executed PF transfers/withdrawals (if any)
- The second column has two sections which gives you information about your employer’s and your share towards EPF deposit.
- PF Withdrawals are listed under third column.
- Your Employer’s contributions towards your EPS (pension) is provided here.
- With reference to the above EPF statement, you can observe that Rs 780 and Rs 239 (12% of Rs 6500 pm) used to be employer’s and Employee’s contributions towards EPF account. These are now (after September 2014) changed to Rs Rs 1,800 and Rs 550 pm respectively.
- Employer’s contribution towards EPS account used to be Rs 541 pm and now it is Rs 1,250 (from October 2014 onwards). (Suggest you to check your statements too and understand more about the EPF and EPS contributions).
- You can observe that my friends has changed the company and had claimed EPF transfer online. The online EPF transfer details are also available in EPF statement.
- You can also observe that there are transactions towards “Interest updated” in the statement as on 31st March of every year. These are the interest payouts on the total monthly contributions. There won’t be any interest payout towards EPS contributions.
How is interest on EPF account is calculated?
Before explaining to you about the calculation of interest on EPF deposits, let us understand few relevant points regarding the interest calculation.
- The rate of interest is notified by the central government periodically (every fiscal year). The rate of interest on EPF deposits for last three fiscal years are : EPF interest rate in 2012-13 was 8.5%, in 2013-14 it was 8.75% and for this fiscal year (2014-15) too it is 8.75%.
- Interest Amount is calculated on the average monthly balance. EPF subscribers are eligible to get interest amount on their contributions and employer’s PF deposits.
- The interest amount is calculated monthly but the total interest amount is credited once a year only. The credit payout generally happens at the end of March.
- The accounting year followed by EPFO office is from March to February.
Let us now understand how the interest is calculated on EPF deposits. Let us consider the same EPF statement as the one given above. My friend had joined in his first job in a Private Limited company in September 2012. His company contributes 8.33% of his Basic salary as “EPF deposit” (Rs 239 pm) every month and 3.67% towards the EPS scheme (Rs 541 pm). (The 12% is subject to minimum of Rs 6,500 in 2012-13). His contribution was 12% of Rs 6,500 which was Rs 780 pm.
Let me put all these figures in MS excel and calculate the total interest earned on EPF deposits from September 2012 to end of March 2013.
Let me now explain about the calculation part. In the month of September 2012 the interest amount was zero because the available EPF balance was zero in the month of August 2012.
In Oct 2012, Rs 7.2 was the interest earned for September’s monthly contribution. We need to consider September month end balance (Rs 1019) and EPF applicable interest rate ( it is 8.5% in 2012-2014) divided by 12 months (we are calculating monthly interest amount). We need to repeat these calculations till March 2013. The total accumulated interest was Rs 152 and was credited on 31/Mar/2013 (as shown in EPF statement).
The total interest amount of Rs 152 was added to April month’s balance, along with the monthly deposits. Even after the recent amendments to minimum contribution amount, the interest calculation procedure has not changed.
So, suggest you to try these calculations based on your monthly Provident Fund deposits and understand how is interest calculated on your Provident Fund Account. (Leave your query if you need any assistance).
Latest news (March 2021) : EPF interest rate for 2020-21. The Central Board recommends 8.50 % rate of interest to its subscribers for the year 2020-21. EPFO notifies 8.5% as interest Rate on EPF for the year 2020-21.
The previous FYs EPF interest rates are as below;
- FY 2019-20 : 8.50%
- FY 2018-19 : 8.65%
- FY 2017-18 : 8.55%
- FY 2016-17 : 8.65%
- FY 2015-16 : 8.80%
- FY 2014-15 : 8.75%
- FY 2013-14 : 8.75%
- FY 2012-13 : 8.50%
Income Tax Saving Benefits on EPF contributions: Only your (employee’s) contributions towards EPF account are eligible for Income tax deduction under Section 80 C of Income Tax Act. If you have contributed for 5 years in EPF then there is no tax deduction but for less than 5 years TDS (Tax Deduction at Source) is deducted for EPF amount withdrawals. Did you like reading this article? Did you find it informative? Do share this post with your friends. If you have any queries on EPF interest calculations, kindly leave your comment. Cheers! Continue reading :
- EPF Interest Income & Withdrawals | Tax Implications | Is EPF Interest taxable?
- Interest on Inoperative EPF accounts | Will I get interest on my Dormant EPF account?
- Higher EPS Pension by EPFO – Impact of recent Supreme Court Judgement for EPS Subscribers & Pensioners
Dear Sreekanth,
You have covered the complete topic very well. Kudos to you, for that.
I have an additional query for you. This relates to final withdrawal within 36 months of resigning from the last job, and not picking up any job thereafter, and thus no contributions during this period. However, interest is accrued and credited, as per rules. Now, once the balance amount is withdrawn fully, how will the interest on the amount be calculated in the paying year? This is with keeping the fact in mind that the agreed rate of interest by the government is declared much later after the end of the financial year. And, if the payment of interest is done based on the rate of interest of the previous FY, then does one get arrears later in case the interest is increased for the following year. Also, what happens in case rate of interest decreases? Since the account gets closed in EPF books, how is the individual contacted in both these cases?
I will be thankful, if you can address this issue.
With best wishes,
Lt Col Ranvir Singh
To all the Accenture folks who are facing the “REJECTED AA EMP REQUEST” issue, let me inform you why this actually happened. So, if your basic salary is below Rs. 15000, you are eligible for the Pension Scheme/EPS. Under this, the Employer Contribution of 12% is split into two parts – 3.67% for the PF part and the remaining 8.33% for the EPS part. So, what actually happened that Accenture credited the entire 12% in the employer PF part. So now, EPFO is rectifying the mistake made by the company. But the process that they are following is incorrect. Incorrect HOW you ask? Well, they are deducting the amount TWICE and then later crediting just ONCE.
You might have noticed that the PF entry for certain months is missing from your passbook and then there is REJECTED AA EMP REQUEST debit. By doing this, they have basically deducted the amount twice. So even when they are crediting the amount by splitting it in Employer PF and EPS part, the sum total for Employer PF contribution would still be negative.
Now comes the question of what can be done? Well to be honest, not much. I have raised atleast 20 grievances on their portal and they give the same explanation and then close it. On escalation, the head branch of EPFO gave me the reason that due to Covid there is a shortage of staff, so they’ll look into it later. It’s been almost an year and there is no progress.
Looks like Accenture has done mistakes/errors. A lot of people from Accenture are having negative epf balance.
Wanted to get update from you guys, did you receive your money back or not ?
Dear all,
I have got multiple below mentioned entries in my PF passbook and a huge amount has been debited from my PF account what could be the possible reason? Appreciate your assistance.
OB Adjustment- ( OTHER_APPENDIX_E )- AUTO ADJ
TRRNO MMYYY:42015 REJECTED AA
EMP REQUEST
Thanks,
Sandip
Dear Sandip,
As per comments from other readers (who have faced similar issue) –
” I raised a grievance in Grievance portal. I got a reply that records are updated for FY end reconciliation activities and will get corrected at end of FY audit. So hopefully in few months we should know….”
You may also submit a grievance request to the EPFO via this link and/or check with your employer as well on this..
Dear all,
I have got multiple below mentioned entries in my PF passbook and a huge amount has been debited from my PF account what could be the possible reason? Appreciate your assistance.
OB Adjustment- ( OTHER_APPENDIX_E )- AUTO ADJ
TRRNO #~# REJECTED AA
EMP REQUEST
Thanks,
Sandip
Hi,
How was this EPF amount deduction issue resolved?
Thank you
I was working for company one for 5 years and was on break then. After 1 year i joined another company two. i was working for company one till April 2018. ( After 36 months (April 2021) this will get inactive and will fetch no interest)
If i transfer epf from company one to company two , will i continue to get interest
(after completing 36 months in April 2021) since i will be transferring to account which is active (company two).
Dear Alex,
You may kindly go through below article and revert if you need any more assistance :
Why should you Withdraw Old EPF Account Balance? | In-operative EPF A/c Timeline
Hi Sreekanth,
I left Accenture on January 13th. I see the negative values under “OB Adjustment- ( OTHER_INTEREST )- INT AMT AUTO ADJ TRRNO #~#3101703015098 MMYYY:32017 REJECTED AA EMP REQUEST” now. I just dropped in a Grievance to both Accenture and EPFO. How long does it takes to resolve this? I have 18520 been deducted from my account.
Did you get any reply ? I am facing similar issue, I also left Accenture.
Hi Lokesh, I’m seeing same issue since 1 year and still it is not resolved.
I left Accenture in 2018 same is with me that in statement showing ob adjustment, can you tell me is there any solution for this till now.
Even i have faced this same issue. I did raise the grievance. But no response received. Nearly 15 k amount is deducted. Please somebody suggest what to be done.
My contribution to EPF is 3858 but my employer contribute 550 + 1250 (EPF + EPS)
Why is the difference.
Dear Avinash,
Did you check with your employer?
Yes, but no use.
Actually it’s a School, does this change anything as they are contributing same for all the teachers i.e (550+1250) even if their contribution is 1800 or more, like few teachers contribute 6000 and more but employer contribution is fixed.
Hi All,
Even i faced the same issue. Around 28k got deducted from my previous employer(Accenture) PF balance with these OB adjustments. And this happend when i created a transfer PF request and that too got rejected by field office due to the reason that ECR revision is pending and father’s name mismatch. Do anyone have any idea about ECR revision and? Did anyone got their deducted amount back. Kindly help what to do next!!
Same issue faced by me. Around 23k got deducted from Accenture PF account (previous employer) and my PF transfer rejected due to same ECR and father’s name mismatch issue. I have sent a mail to Accenture regarding the ECR revision as I think that is their fault and waiting for their response. Parallelly, I have registered a grievance to EPFO for the deduction showing in the passbook and waiting for their response as well.
According to me, this is not related to the transfer, as I can see from the posts here, many people who are facing the issue did not initiate the transfer yet. The date of deduction showing in my passbook is 3rd August, 2020 which I think is the same date for many of us. I think it is an issue between PF office and Accenture and nothing can be done from our side. But for record purpose, we can contact Accenture and can raise a grievance to the PF office.
What can we do ?? How can we get money back?
Hi Bhagya, there is nothing we can do from our side. The adjustments are internal activities between the employer(Accenture) and EPF office. Over 50k has been deducted from my account on 3rd of August. When I raised a grievance to the PF office and Accenture, they said I will get my amount back. But, they didnt tell me when I’ll be getting it back. However, I got half of the lost amount credited to my PF account on 4th of September. Can you check your PF account and let me know if the same happened with you?
Hi Mounika,
I am facing the same issue but as you said you have got half of the money, please check again your passbook.
They have deducted the amount for FY 15-16 and credited the the same by dividing into 3 category Employee, Employer and Pension BUT when you check your passbook for FY15-16 dates preciously you will see they have removed all of your amount for FY15-16. So we have yet to receive full amount not the half.
Hey Aditya, I am taking into consideration the balance amount which is present at the top of the passbook page in my PF account and adding it to the Pension component. I had the note of the balance which I had previously before Aug3rd. Now, when I see, almost half of the lost amount has been added up in September leaving the rest of the lost amount unpaid. I raised a total PF withdrawal request before August 3rd. That’s when I took note of the amount in my PF account. I am just comparing my balance before deduction(i.e., before Aug3) and after deduction on the whole.
Hi Mounika,
No amount is credited to my account . And there is no response from Accenture and EPFO grievance is closed with comment necessary action to be taken. Am unable to understand what else to be done 🙁
Is you problem solved ? I am facing similar issue. Please guide me
Hey Suman, there was a deduction from my PF account between 3rd and 4th of August. And on 4th September I received half of the deducted amount into my account. Can you check your passbook again to see if the same happened with you as well? I think the revision activity takes place every month around 3rd or 4th. Im expecting my remaining amount to be credited this october 3rd or 4th.
Hey Supriya, this happened to me as well when I created a PF transfer and withdrawal request with my previous employer Accenture. My withdrawal request was rejected stating that ECR revision is in process. I googled about ECR. It is electronic challan cum return. I think it is something related to adjustments.
Hey Guys, I have the same problem. My PF accumulations is not at 50 % after OB Adjustments.
I have been planning to transfer my Accenture PF account to my current employer. Please suggest if I should initiate a transfer at this time or wait for these discrepancies to be corrected ?
Dear Avinas,
Advisable to get the transfer done after sometime.
Meanwhile, kindly check on this with your ex-employer as well!
Hey Avinas, even if you initiate the transfer request, it will be rejected by them with the comment “ECR under process”.
Dearf Sreekanth,
I have got multiple below mentioned entries in my PF passbook and a huge amount has been debited from my PF account what could be the possible reason? Appreciate your assistance.
OB Adjustment- ( OTHER_APPENDIX_E )- AUTO ADJ
TRRNO #~#3101504009013 MMYYY:42015 REJECTED AA
EMP REQUEST
Thanks,
Wasim
Dear Wasim,
Looks like there is some ‘rectification of accounting entries’ going on.. not sure if this is a technical glitch.. Suggest you all submit a grievance request to the EPFO and also check with your employer(s).
In case, you get a ‘confirmed’ information, kindly share it here, can be useful to other readers.
Thanks!
I have also faced same issue.50k deducted with the same reason
Hey Wasim, the same thing happened to me. However, I got a response from the EPFO team that the deducted amount will be credited to the pension balance from the PF balance soon after getting some approvals from their end. This happened due to their account discrepancies. There is no action needed from our end. So, no need to worry 🙂
Thank you for the info mounika. Nevertheless I have raised a grievance in EPFO portal and yes I contacted Accenture PF team. Awaiting there response.
how to raise grievance i too lost some 78 k
Dear rameshbabu,
You can submit your grievance via this link..
You will not lose your Funds, kindly dont worry!
Hey Ramesh, did you get some amount credited to your account this september 4th? I received half of my deducted amount on the said date. I’m assuming that the revision activity will be conducted probably the first week of every month. So, I think I’ll be receiving the other half this october.
Thank you dear Mounika for sharing this info!
Hi Mounika, I have lost a lot of amount to OB Adjustment.. what to so?
I am an ex-accenture employee.
Same issue faced by me. Did anyone received the PF passbook update with the correction details?
Hey Rohit, did you receive half of the deducted amount on 4th of September?
I have received the amount which was deducted for 11 months as a cumulative amount on 4th of September. So the negative and positive makes equally now. But for the months which has been deducted it’s still showing zero amount for 11 monthS and still my 28k is not added.
hi wasim
have u got the solution of your issue plz confirm
Did anyone receive any reply for the OB adjustment deductions from the PF office??? Over 50,000 has been deducted from my account.
I received the reply that Employer (Accenture) had not deposited Pension Fund Contribution (Rs 1250 p.m. ) due to which money shall be diverted from PF to pension fund from Employer contribution and all entries will be corrected shortly.
I left Accenture company in 2019 and I see many entries with negative amount in all entries, should I raise a grievance request or it will be corrected automatically.
I left Accenture a couple of months back. I got the same response as that of Himanshu’s for my grievance request. Looks like this has happened only to employees linked to Accenture. Is there anyone who is not linked to Accenture in any way?
I am also from accenture and faced same 50k deducted.
Did you get your money back ??
I have also got same issue what Himanshu and Prateek have explained. I have raised grievance to the EPFO and it is also with Tushar Wankhede:)
Sames issue what Himanshu and Prateek have explained. Does anybody know about it?
Dear Deepak,
Suggest you to submit a grievance to the EPFO..You can now contact them on their new Whatsapp helpline number as well..
Thanks Srikanth, however the wassapp number for Bandra is infact the landline number. Which is not reachable most of the times, rather always. The OB adjustment looks to happen for quite a few people as it seems. Please address. Thanks for being the voice.
Did you try submitting your grievance through online link??
I RAISED A GRIEVANCE AND MY GRIEVANCE IS UNDER PROCESS WITH SH TUSHAR WANKHEDE BUT HIS NUMBER IS NOT REACHABLE
Hi Himanshu, Did you get any reply from TUSHAR ?
Hi Deepak, have you got any information about it?
Hi Mounika,
I haven’t got any revert as such. That’s said I feel okay that I am not the only one who had this incident.
I have raised a grievance on EPF grievance site.
Thank you for the response Deepak! Please let us know if you get any further info 🙂
Hey Deepak, have you initiated your PF withdrawal claim recently? I resigned from my job and have applied for the withdrawal and currently, its status is “under process”.I’m just trying to figure out if this has happened only to people who have applied for the withdrawal.
Hi Mounika, I am currently working with Accenture, haven’t initiated any withdrawal but the same happened with me, `50k got deducted from my PF Account on 16th Feb 2021. Have raised the same to Accenture Payroll and have also initiated a grievance with the PF department, awaiting a response.
Hi, I got multiple entries as OB Adjustment on 3rd Aug 20 as – ( OTHER_INTEREST )- INT AMT AUTO ADJ
TRRNO #~#3101504009013 MMYYY:42015 REJECTED AA
EMP REQUEST and amount of approx Rs 1 lakh is debited. Also the balance is now showing less by about Rs 2 lakh. What can be the reason?
I have got the same issue with 24 such transactions corresponding to one year(FY215). Its on the same date 3rd Aug. Raised Grievance, but did you get a solution ?
Hi Prateek, I faced the same issue. Did you get a solution?
Hi Mounika, I raised a grievance in Grievance portal. I got a reply that records are updated for FY19-20 reconciliation activities and will get corrected at end of FY19-20 audit. So hopefully in few months we should know.
I am also having the exact same issue…thanks for the update
In how many days did you get the response?
Hi Himanshu, I am facing the same issue. Were you able to find out the reason?
Hello Srikanth.
You have explained it very nicely. How the interest in PF is calculated after resignation and not in job for one year. Is it calculated on the total amount of PF or considering the last basic salary pf contribution amount.
Dear James.. will be calculated on the accumulated balance..
I withdrew my EPF about 2 years ago but a year later I got this in my Particulars: I got a credit of this money in my employee and employer particulars.
OB Adjustment- ( OTHER_APPENDIX_E )- CPE RECTIFICATION – SINGLE YEAR – TRANS RECEIVED AFTER SETTLEMENT – CB MISMATCH Employye 363,817 Employer74,705
Dear pavan,
Looks like some kind of rectification entry.. Suggest you to kindly check with the EPFO via this link..
Thanks for wonderfully explained step by step!
There is only concern.. how it works when one changes organisation and transfer PF, how interest calculated on that years contribution? there is mismatch if i use same formula.
Hi Sreekanth.. Your Blog was really helpful. I got answers for all of my queries. Only one confirmation I need is—– My current balance PF balance is around 34,000. I will withdraw the amount strictly after retirement(easily after 05 years). The amount will easily be more than 50,000. Will i need to update PAN under KYC of PF?? Actually I am unable to update PAN details under KYC of PF due to name mismatch. Awaiting your response.
Dear Vinod,
Yes, advisable to get the PAN linked and verified in UAN portal.
Kindly read :
* EPF Interest Income & Withdrawals | Tax Implications | Is EPF Interest taxable?
* How to verify PAN online in EPF UAN Member portal?
This question is on PF contribution rate in companies with less than 10 employees.
Is it mandatory in this case to restrict employee contribution to 10% instead of normal 12%? Also, if the employee contribution is considered at 10% how is the EPS and Employer contribution split? will it be 8.33% and 1.67%. Please clarify
Dear Ramesh,
12% is mandatory.
Hi Sreeknath ,
How PF interest will calculate ,If a person working last 12 years in the same company .Suppose FY 2018 Accumulated balance is 5 lacks and FY 2019 each month contribution 14000 per month (8%+3.63%) will Interest call for amount 15.14 lacks like 514000*8.67/12 or 14000*8.67/12
Dear Sharanappa,
Interest will be calculated on the accumulated balance (Rs 5 lakh) as on previous month..Kindly refer to the table in the above article..
Related articles :
* EPF Interest Income & Withdrawals | Tax Implications | Is EPF Interest taxable?
* Tax Implications of EPF, PPF & NPS Withdrawals (Full / Partial) & Maturity proceeds
Kindly advise how to procure the Annexure-K Document from EPFO Office? Had raised the request through grievance (EPFiGMS) and requested them to send/share the copy on my registered e-mail id. But they did not provide one till date!
Dear Debaditya,
Generally they do share it via email based on the Grievance request.
You may re-try submitting your request..
Dear Sreekanth,
Thanks for your reply. Have again raised a ticket today! Let’s see what do they reply.
Please file an RTI..you may do so online as well. Sure shot way to get that.
Hi Sreekanth! Fantastic Illustration. But as you know in case of EPF Transfer, the corpus gets realised immediately while the interest on the corpus being transferred in shown in the contribution for March. In this case, how is the interest calculated?
Dear Debaditya,
The interest gets accrued on the entire balance as per the prevailing interest rate(s)..
Dear Sreekanth,
Thanks for your reply! What my query precisely was, I transferred my EPF from A/c-1 (WBCAL00xxxxx0000000xxx) to A/c-2 (WBPRB00xxxxx0000000xxx) on 12/08/2016 which finally got transferred on 19/09/2016. Following is the entry of transactions :
“Cont. For 072016
Cont. For 082016
TRANSFER IN (Old Member Id-:WBCAL00xxxxx0000000xxx )
Cont. For 092016
Cont. For 102016
Cont. For 112016
Cont. For 122016
Cont. For 012017
Cont. For 022017
TRANSFER IN – INTEREST AMOUNT ONLY(Old Member Id-:WBCAL00xxxxx0000000xxx )
Cont. For 032017
Int. Updated upto 31/03/2017”
As you can see, the EPF corpus from A/c-1 is being shown in conjunction to the time of transfer and thus accrual of interest on it started with immediate effect. But the interest component on the EPF corpus (being transferred), is shown in March 2017, does this mean that accrual of interest on the Interest component (being transferred) will start from immediate effect from March 2017??
Furthermore, though my EPF corpus got transferred, but my EPS for A/c-1 is not transferred/shown in my A/c-2. It is still being shown in A/c-1. Does this mean that the EPS needs to be transferred separately??
Looking forward to your reply/advice!
Dear Debaditya,
EPF interest is shown only at the concerned FY year end.
Regarding EPS query, kindly read : What happens to EPS on Transfer of EPF account (or) when you switch Jobs?
Dear Sreekanth,
Thanks for the illustration/explanation. Will raise my query, if any, in future! Best wishes.
Can u explain ob adjustment- ( auto appendix back period ) IPR back period
Dear Kumar,
I am not very sure on this!
But found on the net that – You get this when your PF contribution was not updated automatically into your PF account but had to be manually done by the EPFO department.
You may check with your employer /EPFO.
Dear Sir
This is regarding my Balance Amount Not Getting From EPFO
When I have left the JOB after 2 month i have applied PF Form 19 for withdrawal
1st Time i have received PF Amount Rs,116171/- on 27/10/2018
and 2nd time i have received Amount was Rs,399328/-
and after 3rd time when i have applied it was rejected
Still my E-Pass Book Showing Balance amount 300206/- why i am not able to getting Balance amount what is the issue
Deposit
Withdrawal
Pension Contribution
Employee Share
Empolyer Share
Employee Share
Empolyer Share
604320
211385
380782
134717
42768
Balance amount i have to get Rs,300206/-
and when i have checked Miss Call Service EPFO 01122901406 AND 7738299899
BOUGHT the Sms showing Balance amount as per above
SMS Alart Showing as per below
Dear Member, Your UAN : *******,NAME : NAGARAJU,DOB : 23-05-1975, AADHAAR :Not Available, PAN : AE*******6B, Bank Details : Available, TOTAL BALANCE : 300206, LAST CONTRIBUTION : 803 (05-2017).
So It’s Humble Request kindly advise and i have given my grivance two time
to EPFO They are telling their is no balance in my account
but how come my e-pass book and sms alert showing balance till date 26/12/2018
and know last month i have applied form 10c.
Regards
Nagaraju
Dear Sir
I have complied my service 19 1/2 years
Dear Nagaraju ji,
Form 19 is for full settlement.
How come you have been applying for full settlement multiple times?
If your service period is more than 10 years then you can not withdraw EPS balance. You will get pension from 58 years of age.
Kindly go through related article @ What happens to EPS on Transfer of EPF account (or) when you switch Jobs?
Thanks for reply sir
Sir as on today my E-Pass Book Showing BALANCE Amount and i am Getting SMS Also Form EPFO SMS ALERT
Sir Can i have your mobile no or Mail ID PLS
Dear Nagaraju ji,
That can be your EPS Balance.
You may request for Annexure – K from EPFO to go through all transactions done in your EPF account through this link..
Kindly note that I provide assistance through my blog only.
Sreekanth Reddy,
What would be EPS amount received if worked for 9.6 years. is it latest basic salary*9.33.
And how 9.6 years calculated if joined EPS in OCT 2009
Dear Babu,
Employees are eligible for EPS only if they complete 10 Yrs of service or attain the age of 58 or 50 Yrs of age.
You may kindly refer to this blog post..
Hi Sreekanth,
I recently changes jobs. The interest credit in the PF Account opened by my ex-employer is still pending.
Recently, I have submitted an online request to transfer my PF accumulation from the PF Account of my ex-employer to the PF Account opened by my new employer.
My question – Since the interest credit pending and if the transfer gets completed before the interest gets credited, will I loose the interest that I am entitled for.
Please advise.
Dear Aalok,
Is your previous EPF account administered by a Pvt Trust of your Employer?
If so, your previous employer will pay the accumulated interest on the Funds.
If it is maintained by EPFO, even then you will receive the accrued interest on your PF balance. Nothing to worry about!
Related article : What happens to EPS on Transfer of EPF account (or) when you switch Jobs?
If I withdraw my EPF in Sep-2018, I am assuming interest for FY2017-18 will be added and EPF balance will be transferred. when will the interest for Mar to Sep-18 paid to me? Will it be paid at all after the EPF Settlement?
Dear Murali,
Yes, interest will be paid even for the FY 2018-19 duration as well, based on the prevailing interest rate.
Thanks.
I had employee share balance of Rs. 7,60,424 (Rs. 7,05,646 balance as on 1.4.17 and Rs. 54,778 as int. updated up to 31.03.17). From Apr 17 to Feb 18, my contribution was 1800 per month (employee portion only). EPFO has given me an interest of Rs. 60,675 as on 31.03.18. When calculated as per your excel sheet example, there is much difference. Even only balance amount of Rs. 7,60,424 should fetch me an interest of Rs. 65,016 @ 8.55 per annum. Could you please analyse this and explain?
Actually EPFO should have calculated the interest the way explained here BUT they do not.
I file an RTI for their detailed calculation and come to know they eat up one month interest on each contribution. What happens is lets say you started working in anuary and your EPF will be credited in FEB. They will calculate the interest on opening balance. January interest would be zero obviously. For FEB they calculate interest ZERO as well as opening balance of feb is also zero and EPFO contribution would added on 1st Feb. This way you will get the interest for contribution for January salary in March only.
This is how they are cheating 5 Crore employees. But nobody complaints!
Thank you dear Manoj for sharing the above information!
Hello Sreekanth, this is a very informative post. I would like to know how to get the interest amount credited to an PF account where there is no active contribution since Feb 2017 due to terminatuon of employment but the accumulated amount is not yet withdrawn.
Dear Ray,
The EPFO will they themselves credit the interest to your EPF account.
But it is not yet posted in the PF passbook till date. That is why I am asking this. Is there any different process for inactive accounts?
Dear Ray,
You may kindly post your grievance to the EPFO online..click here..
sir i am not got intrest last financialy year .can you tell me why.
Dear Arun..EPFO has notified the interest rate for FY 2017-18 during last week of May, so you should be receiving the interest payment anytime in this month (June).
Sir, interest on last years PF balance is taxable, since employee terminated services and went abroad. Return for filing of Returns in India has come. How to calculate interest for 2017-18?
If last years total balance including interest was, say, Rs. 30 lakh, will taxable interest this year be Rs.30 lakh x 8.55 % = Rs.2,56,500?
Thanks
Dear dinesh,
The interest income can be taken from EPF Passbook.
If there were no fresh contributions in FY 2017-18 then you may do so.
actully i dont understand the break of which i had withdrwal my pf amt plz suggest
Dear suvidha ..May I know your exact query??
what the exactly received because in bank a/c received 30174
but how i know exact which amt i get
please give me break up for the same
and please can you contact on my no 86691599**
for sharing this imformation………..
deposit withdrawal
employee share 19328 employee share 19328
employershare 5912 employershare 5912
pention contribution 12401
my question is if 19328+5912=25240 but what about pension amt can you give reply on the same and also you can contact on 86691599**
Dear suvidha,
If you are making full EPF / EPS withdrawal then whatever is there as accumulated balances in your passbook, can be withdrawn.
If you are referring to partial withdrawal, kindly go through this article..
I had withdraw my previous 3 of already, however in my current organization am working from 5 years. My UAN is just showing current employer of details,so if now try for part-time withdrawal will my previous employers 7 years would be considered as well
Dear Vivek ..If you have withdrawn money from your previous EPF a/c then only current EPF a/c contribution period is counted (ie 5 years only).
Dear Srikant,
These are the details mentained in my EPF.I would like to know whether the PF can be withdrawn without employers signature .Though I left the organisation in May 2015 and my account has digitally verified my PAN number and bank details but my AADHAR is not seeded.Can I withdraw the amount online /offline
Please find the details given in website
PF Exemption UNKNOWN
EDLI Exemption UNKNOWN Pension Exemption UNKNOWN
Reason for Leaving NOT APPLICABLE
Date of Joining EPFNOT AVAILABLE ,EPS:NOT AVAILABLE FPS: NOT AVAILABLE
Date of Exit EPF: NOT AVAILABLE EPS: NOT AVAILABLE FPS: NOT AVAILABLE
Please do needful
Regards
Dear Ramesh,
As Aadhar is not seeded, you have to route the withdrawal request through your ex-employer only.
Kindly read :
New Composite EPF withdrawal form..
Online EPF withdrawal facilty
My employer has created 2 EPF accounts for me but in one epf account zero amount , now both accounts reflecting in my UAN but now Iam resigned , while applying for Claim, its considering the account which does not have money.
suggest me plzzz
regards
suneel
Dear suneel ..Kindly contact your employer and get this sorted out.
I have seen the statement of balances from UAN login link and observed that the last time the interest was credited was in 2013. All queries to Delhi North EPFO office went unanswered and the toll free number doesn’t work either. Same is the case for others. Anyone made a similar observation?
hi how many years pf ill be double ?