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Sreekanth Reddy:

Sreekanth is the Man behind ReLakhs.com. He is an Independent Certified Financial Planner (CFP), engaged in blogging & property consultancy for the last 12 years through his firm ReLakhs Financial Services . He is not associated with any Financial product / service provider. The main aim of his blog is to "help investors take informed financial decisions." "Please note that the views given in this Blog/Comments Section/Forum are clarifications meant for reference and guidance of the readers to explore further on the topics/queries raised and take informed decisions. These should not be construed as investment advice or legal opinion."

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  • 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 Now, once the balance amount is withdrawn fully, how will the interest on the amount be calculated in the paying year?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

  • 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).

  • 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.

      • 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.

        • 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 🙁

      • 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 ?

    • 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!

    • 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.

          • 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.

      • Hi Mounika, I have lost a lot of amount to OB Adjustment.. what to so?
        I am an ex-accenture employee.

        • 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.

  • 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 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:)

      • 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.

      • 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 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.

  • 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

  • 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.

  • 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

  • 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

  • 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!

  • 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 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 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

  • 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

  • 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.

  • 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?

  • 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!

  • 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.

  • 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

  • actully i dont understand the break of which i had withdrwal my pf amt plz suggest

    • 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 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

  • 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 Sreekanth,

    I quit my company in Dec 2015. I am not employed after that. I am planning to withdraw my EPF this September.
    Will I get interest for corpus for the period April 2017 to September 2017?
    If not, isn’t it beneficial to withdraw EPF now itself.

  • is interest calculate on EPS fund which is not showing in the EPF statement? please confirm because I am going to fill form 19 and form 10C.

    please reply

    Regards,
    Sinod Kumar Ray

  • Hi Sreekanth,

    If any employee is contributing in VPF then how the interest will calculate. Will entire contribution be invested in EPF or in the same proportion 15.67% in EPF and 8.33% in EPS ( which doesn’t generate any interest ). If you share the excel sheet with VPF contribution that will be a handy tool for understanding.

  • suppose my Basic salary is 45000/- P.M. My company has deduct Rs. 5400/- per month as EPF Contribution.

    I want to Know what is my EPF Wages, EPS Wages and EDLI wages as per new format of ECR Unified Portal.

    Kindly Help me.

  • I have applied for transfer of PF from my previous employer ( which maintain PF trust) to my new employer who maintain PF with EPFO.

    My PF was transferred by previous employer by cheque to EPFO accruing interest upto feb. however the cheque is lost in transit. Now i am requesting my pevious employer to reissue the cheque.

    Whether the interest will be recalculated till the date of issue of new Cheque or it will be old amount only and i will loss the interest amount for the in between period till the amount is actually credited to my new EPFO account.

    • Dear Suresh,
      I believe that you will get interest for the entire period as the balance is not withdrawn and is still with EPFO / Trust.
      You may check with your Ex-employer too!

  • Hi , I had worked in company where I know about UAN and balance pf which was around 44500 till 01st april 2016 and then my basic got increased and pf deducted 1200/month till september . I mean from april to sep it was deducted 1200rs /m and then I joined another company just for 18 days and left that . at there I gave my previous UAN but now that UAN has been cancelled becaused I have joined new company from oct month and till now there is new UAN with me ?
    So this was the scenario .
    Now I’m coming to the point that I need to withdraw whole PF (PF+PS) . IS this possible ?
    or to which company I have to go to withdraw this . to my old one or to where I worked just for 18 days ??

    Please repy asap

  • Hi Sreekanth,

    Thank you for the great details.

    One question – I have left the job on April 2016 and now I wanted to apply for PF withdrawal. I know PF interest is credited in April 2017, so if I apply for PF withdrawal in March 2017, will the interest earned between April 2016 to Feb 2017 be paid to me along with the withdraw amount? Or Interest will be not be paid if I withdraw before interest is credited (April 2017)?

  • Hi Sreekanth,

    Very nice and informative article. Would it be possible for you to share the excel calculator?

  • I complete 10 years of service this month. I’m planning to withdraw pf amount for loan repayment. I’m eligible to withdraw entire employee and employer contributions. If I initiate the process for withdrawal in Apr’17 will I get the interest for the year 2016-17 also? I’m asking because the interest doesn’t normally reflect in the passbook till June as per my previous year observation. Also the interest rate declaration for the currect year comes later (in the next financial year like MAy or June) right? So how would I get interest amount (for 2016-17) if I apply in April itself?

  • hi sir,
    i worked last year 20 march 2015 to 25 may 2016. in my salary in hand Rs.7500 total CTC 1.2 LAKHS Per annm, every month PF deducted Rs.777 in my basic salary. it is totaly how much i will get. still i am not apply for PF. so kindly help in this regard.

    thanks
    murali

  • Dear Sir, I transferred my EPF accumulated till Aug 2007 in Nov 2011 . I got annexure K as well . It got reflected in my new account ledger from 2013 . In new account I am getting interest amount only for new account funds , not for the transfered in fund. I raised 2-3 grievences but I was always get replied that they are working on it and will let me know once it will be done. Please let me know other alternate by which I can get updated interest amount correctly.

  • Transferred mine pf from my previous to current organisation ,so i can see service details under Transfer detail section in PF passbook.
    My question is suppose if i wan’t to withdraw mine PF right now,will EPS calculated based on service in current organisation or combine(Previous + current) ?
    like mine previous organisation 2 years and current 2,so after transfer of PF ,suppose if i am going to withdraw now ,will be calculated 2+2 = 4 years of service or 2 years only?

    • Dear Ritesh,
      As you are employed and contributing to EPF, you can not withdraw PF balance in full.
      Yes, your previous service period is considered when withdrawing or calculating the pension for EPS.

  • Do we need to credit interest to members who have resigned and not transferred/ withdrawn their PF balance and their age as on 11th November 2016 is 58 years or more

    • Dear Sudeep,
      Going forward there won’t INOPERATIVE EPF a/c concept, as interest payment will be done even to the dormant PF accounts. But, the official notification is yet to be released.

  • Dear sir,
    Could you explain me about OB adjustment ?? [[OB Adjustment- ( AUTO APPENDIX BACK PERIOD )- IPR(Back Period) (2014-2015)-Contribution only]] what is mean by this sentence which is in bracket ??

  • What is the meaning of ” OB Adjustment- ( AUTO APPENDIX BACK PERIOD )- IPR(Back Period) (2014-2015)-Contribution only” …
    and also my (employee) contributions and Employers contribution is not visible for a whole year. i.e. from 04-2015 to 03-2016. But this was visible in my EPFO Passbook when I viewed 2 months ago. Please help me to understand this, so that I can escalate if there is an issue in my accounts. Thanks

  • Hi Sreekanth,

    I have completed ~6.7yrs of service and would like to withdraw partial PF from my account. I wanted to know if this is possible and if so, what are the steps to be followed for it

    Thank you,
    Lavanya

  • I had a query. I am in the process of joining a new firm. The salary structure offered is with a PF contribution of 10% instead of the regular 12%. When I asked the HR about this, they say that as a Bank they are permitted to have a 10% contribution to PF instead of 12% and they dont participate in pension plan. Could you please confirm if this can indeed be the case? My readings of the rules indicate that banks dont have any such exemption. Please confirm. Thanks

  • Dear Sir,
    I want to withdraw my pf balance of previous employer 5 years not completed ,so I have to fill 15G ,In column no. 16 (Estimated income for which this declaration is made ) total pf amount to be filled
    1.Please help me how to calculate total pf amount to be write in this column (deposit amount in pf showing Employee share 26,321 ;Employer share 10,504 and pension contribution is 13,427.
    2.In column no 17 of 15G( Estimated total income of the P.Y) :how to filled this if my my monthly inland salary is 20,500 and Yearly CTC is 3LPA.
    3.and please explain me column no 19. of 15G identification number of relevant investment /account ;what is to be write in NATURE OF INCOME ;SECTION UNDER WHICH TAX IS DEDUCTIBLE ;AMOUNT OF INCOME

    I m working in a private company and no other sources of income .

    • Dear Abhishek,
      1 – Employee share + Employer share + interest amount can be shown.
      2 – Your expected income + income from other sources + PF withdrawal amount.
      3 – NIL (if no other sources of income).

  • Hi Shreekanth

    Can you explain how the full PF withdrawals are calculated if one resigns and wishes to withdraw after more than two months on unemployment? Perhaps with an example? Especially with the EPS part.

    Thanks

    • Dear Yuyutsu..I am unable to comprehend your query. Whatever the outstanding balance in EPF a/c and EPS, will be paid to the PF member.
      EPS can be withdrawn if the service period is less than 10 years.

  • When we transfer amount from one company to another looks like that previous balance is not considered while calculating the interest. Interest is only compounded on the current companies PF balance. Can you throw some light on this.

      • @Sreekanth I agree to your point that Interest should be calculate on the total accumulated balance.
        Lets consider the snapshot in which Amount transferred in April 2014 of amount 8728 & 2670 towards employee & employer share respectively.
        From the month of May onwards Interest should be calculated on Total Amount i.e, Amount deposited by this company + transferred amount.

        Whereas thats not the case Interest is calculated only on the amount deposited by this company. The transferred amount not calculated in Interest calculation.

        In my case X amount transferred from my previous account in Jun 2013. I did not receive any interest on that amount till now.

        From the cases i read it looks either my understanding is not right or there is a catch in the system from the time UAN comes into the picture as this problem I observed only after that, prior to that I transferred my PF from 3 more companies & there is no issue in interest calculation.

  • Hi Sreekanth

    I have a two query

    1) When you transfer EPF/EPS from one company to another does EPS does not get transfer.
    Even in the screen shot you mention it shows as 0.
    Do we need to submit separate request to transfer EPS amount.

    2) Can we withdraw EPS amount without withdrawal of EPF & without changing the company.

    • Dear Ankush,
      1 – It gets transferred but will not be reflected in your PF passbook (only number of service years will be carry forwarded and accumulated). Yes, form 10c.
      2 – No.

  • Hi Srikanth,
    Why we need to transfer OLD PF to NEW PF account? Will the OLD PF doesn’t generate interest?

  • Hi Srikanth,

    Is a KVP better option than a FD. I would like to invest 1L for 10years in KVP (heard the amount doubles in 110months)

    Are the taxes higher in FD or KVP ?

  • Hi Sreekanth,

    How do I apply for Govt Bonds ? Are they a good option for people who are RISK averse ?

    I have FD, PPF, NSC, KVP & EPF A/Cs. Are there any more safe investments where I could invest in ?

  • Hi,
    If i transfer my one PF account to other PF account , is interest is calculated on total amount ??

  • Hi Sreekanth

    I have worked from Oct-2013 to Dec-2015 i.e., 2.2 years in a company and my basic salary was 7300/Month. Employee & employer contribution was 12%, so now i am planning to withdraw the PF.

    Can you plz calculate and explain in detail that how much i will get now.

    Regards
    Venkatesh

  • Hi Srikanth,

    Is NSC bond from Post office (5yrs) better than having a FD for 5 yrs. FD interest is taxed unlike in NSC.

    Also, is interest from Kisan Vikas Patra from Post office non taxable ?

    Regards

  • HI SIR I WORKED IN SPENCERS RETAIL INDIA LTD IN WARANGAL IN TELANGANA STATE FROM 2009 TO 2011. AFTER IN 2011 I RESIGNED . NOW I WANT TO KNOW MY UAN NUMBER… THE COMPANY DOESNT HAVE MY UAN NUMBER…IN 2014 ONWARDS UAN NUMBERS ATRE AVAILABLE.. HOW CAN I GET MY UAN NUMBER.. PLEASE TELL ME THE PROCEDURE..

  • Hi,
    I changed my job and had transferred the PF balance to the new company. Even it is getting reflected in the statement from the epfo website. But when it comes to interest payment, it is not counting the previous balance for calculation.
    For eg, if my balance is 150 Rs (100 from current company and 50 from previous company transferred in), interest is getting calculated only on the 100 Rs, that is, the current company’s contribution.
    Is it like so? If so what is the point of transferring?
    Can you please help.

    Regards,
    Shinoj

  • Sir,

    1.Please let me know can i withdrew my total EPF amount before joining a new company? what is criteria of 100% withdrew EPF after resigned old company and joining new company ?

    2. Suppose i m resigned after 10 years so please let me know what is my pension amount ? what is the proceger of my pension amount please let me know in details.

  • 1. Please let me know, how can check my total pension amount which is deducted in my salary from starting to till and supposed i resigned right now so can i widrow my total EPF as well as EPS?

    My joining date is 10/05/2007 .

    2. what is the criteria of gratuity and how much exact amount is receive after 9 years from my company?

  • my half of money transfer to pension facility . so can i get same when i want my pf money .

  • Hi Srikanth,

    Even I haven’t got interest amount credited to my EPF account. May is completed by today. Can you please let us know what’s going on in EPFO office, why interest is not being credited for 2015-2016 period.

    Regards,
    Savan

  • Hello Sir,

    I’m Srikanth reddy I have joined one organization as a HR I’m fresher to this job role Now my management has instructed me to enroll my self in PF and generate a UAN for myself and also instructed me to generate UAN of those employees who are yet to get UAN. Kindly guide in this regard. As a fresher I dont have any knowledge about PF.

  • I have served in IFFCO for 8 yrs. And left on 2013. Now I want to withdraw my EPF fund. How much can I withdraw? What are the TDS implications? Will I get interest for the last three years during which I have not contributed.

    • Dear Somanath,
      If it is more than 36 months since you made PF contributions to that PF a/c then it would have become INOPERATIVE. But as per the recent govt’s notification, interest will be paid on INOPERATIVE a/cs too.
      PF withdrawal is tax-free in your case.
      If you are not employed now and not contributing to EPF scheme, you can withdraw full balance.
      Kindly read:
      New EPF withdrawal forms.
      EPF withdrawal & new TDS rules.
      EPF inoperative a/c helpdesk.

      • Thank you very much Reddy Sir….. I am now employed and not contributing to EPF but contributing to NPS. So how much can I withdraw ? Can I transfer it to my PPF account or NPS account ? What other options are available for me ?

        • Dear Somanath,
          Govt is contemplating to provide one time portability option (EPF to NPS and vice-versa), but haven’t yet announced it.
          You can not transfer the funds to PPF account.
          You have the option to withdraw full balance now.

          • Thank you Sir….. Your suggestions are too much helpful to me…. Have a very nice Day….

  • My age is 41years.

    Current EPF balance = 1516630
    Basic Salary = 68852
    VPF contribution= 88% (Company = 12%)
    Salary Hike for next 20 years = 8% (average)
    EPF rate = 8.8% ( I assume for 2016)

    I would like to know what would be the corpus EPF/EPS amount when I turn 60years.

    • Dear Sreekanth ,

      Requesting your kind support for the above query.
      Also, for my basic, I am sure a part of the amount will only be considered for PF & the remaining will be taxed. May I know the breakup of how much will be taxed ?

      Thanks.

      • Dear Sreekanth ,

        I think the formula is wrong. If the increment is equal to the EPF rate of interest, the formula fails.
        Hence, kindly calculate (on my behalf) the corpus amount @ 60yrs for the below data. Thanks for the great support.

        Age = 41yrs
        Current EPF balance = 1516630
        Basic Salary = 68852
        VPF contribution= 88% (Company = 12%)
        Salary Hike for next 20 years = 8% (average)
        EPF rate = 8.8% ( I assume for 2016)

        • Dear Irshad,
          Kindly share the correct formula then?
          The reason I am not calculating is, this is all hypothetical and salary will not remain same and ROI will not remain same. There is no point in calculating the corpus.

          • Dear Sreekanth,

            I totally agree with you.

            But assuming that the below data remains CONSTANT, could you then give me the corpus amount @ 60yrs

            Age = 41yrs
            Current EPF balance = 1516630
            Basic Salary = 68852
            VPF contribution= 88% (Company = 12%)
            Salary Hike for next 20 years = 8% (average)
            EPF rate = 8.8% ( I assume for 2016)

    • Dear Irshad..Your salary may appreciate at the rate of 8% but your basic salary may not be the same or may not increase in the same proportionate, EPF interest rates may vary year on year.

  • I have also not received my PF yearly interest for period of April 2015 to March 2016.Since last 4 yrs I have received interest after march. pls reply to my query at the earliest.Thanks

  • Hi Sreekanth,

    Can you pls tell me how much amount i can withdraw from PF account.Rite now the balances am having is

    Employee Share till december’2015 is accumlated is : 109404 and

    Employer Share till december’2015 is accumlated is : 76482,

    So total in my PF account i have is : 185886

  • Sir I am complited my CT(company trainee) 6 months in bajaj auto ltd, chakan and my stiepend 10000/pm and in that my PF contributions is 1200/pm then how much amount is come to me provident fund (of) pleas tell me sir

  • Hi Team I m working at goldenstar company at hyderabad from fast 2 years i m working in my salary is 9679 for pf deducting 999 Rs so please how money i will cum let me Know With interest

    Thanks& Regards
    Manohar Yadav

  • DEAR SIR

    AM WORKING PAST 7 YEARS ONE COMPANY TILL NOW AM NOT GET UAN NUMBER PLS GIVE ME SUGGESTION

  • I got the point what is explained. My doubt is while we are withdrawing PF amount, the whole PF (EPF+EPS) amount will be returned or Only EPF ?
    How we will get EPS back ?
    Or If we apply for PF withdraw total amount (EPF+EPS) is returned ?
    Is it compulsory for the employer to deduct amount for EPS ?

  • Hi all i am working in private sector and my company is taking amount of Rs 1500 for esi and pf what would be the total amount for 1 year.

  • Dear Sreekanth,

    Assume that I quit my job in Sep 2016 and remain without any job for two months and apply for full EPF withdrawal. What happens to the interest part of the corpus as of Mar 2016 and contributions from Mar 2016 to Sep 2016. As the interest rate is decided after the end of the financial year i.e, Mar 2017, at what rate would my interest on my corpus calculated at the time of withdrawal (which happened before the interest rates were finalised).

    Kindly enlighten.

    Regards,
    Krishna Chaitanya.

  • I joined a company on April 1st, 2015, so basically the very first day of the fiscal year. As of today (4/21/2016), I see only 11 monthly entries in my PF account, though all of my 12 salary slips show the PF amount deducted. Shouldn’t there be 12 entries in my PF account for 2015? Also, I don’t any Interest Credit as such.

      • Thanks for the link,
        I’ve successfully submitted a grievance regarding non-credit of interest for the period Apr 2015 to Mar 2016

        • Hi,
          I have also not got interest credited in March 2016 (for April 2015 – March 2016). Did you get any response? Do you suggest to submit a grievance?

          Thanks,
          Prasad
          subprasad@yahoo.com

  • when yearly intrest on PF money is credited for apr 2015 to march 2016?i have checked my PF account and its not credited yet. what should i do ?

  • Hi Sreekanth,

    I have one doubt…I will be grateful if you can provide some inputs about it…my question is that in your point 4 u have said that full EPF accumulation can be balance can be withdrawn on some condition…
    (i) Is that condition valid for all (for those having < 5 years of service )
    (ii) is the amount withdrawn under these condition would be taxable…?

    Thanks,
    Rohan

  • Hi Sreekanth,

    As per the new amendment regarding EFP. what is the benefit that employee will get from PF if he withdraw after his retirement apart from interest (Present interest rate is 8.1% per Annam).
    and If the employee did not specify any nominee in PF and he served 50 years in the same organization and if he died (passed away). then where the 50 years PF amount will go.

    Why should we have to wait till 58 years to consume our PF amount. any logic behind this amendment passed from the government?

  • Hi sreekanth,

    I have a question regarding EPS.

    The above shown UAN statement found that there is a PF transfer from previous account. It seems the amount transferred only employee share + employer share but we don’t see anything about the previous EPS amount. It should be some amount credited in the EPS column right?

      • Why not reflected?

        When transfer of PF amount then the EPS also would get transferred right? If four years contribution in the previous company.

        Or how do we get this into new PF account?

        • Dear Yuva..I am not sure if EPF passbook reflects the EPS transfer amount / settlement amount.
          If you are employed, kindly check with your employer and let me know if this is possible? (I am not a salaried person, can’t check this, but will try to get info from my friends who are salaried individuals).

  • I retired after attaining the age of 58 on 1st Mar, 2014. I have not withdrawn my EPF. what will happen to interest accrual ?

    • Dear Madhu Kant,
      The interest will be credited on the accumulated balance.
      But suggest you to withdraw the balance and re-invest prudently (if required) based on your investment objectives/requirements.

  • Dear Sreekanth,

    How do I know that the interest is being calculated correctly? Is the interest is calculated only on yearly accumulation and not on previous year accumulation? Please clarify.

    Thanks!

    Ranjan

  • Very informative. Thanx a million.
    After recent changes regarding PF withdrawal that have been effected, one question cropped up in my mind.
    For example:
    A ‘single’ woman employee who has worked for over 15 years and contributed to PF from the first month itself and has not withdrawn any money till date wants to quit job on health grounds at the age of 46. The amended rules says she won’t be able to withdraw all PF accumulation. If suppose something happens to her before she attains the age of 58, what is the use of the money lying in her PF account. She may need all her savings (including PF) for medical purposes. This seems ridiculous on part of EPFO or for that matter Government to act like Big Brother and decide that ‘One size fits all’. Anyone listening??

  • Hii Sreekanth,

    I am working in Adecco india Holding Mumbai Branch. Having its head office at Bangaluru. Also my PF pertain to bangluru. Our pf has been deposited in Adecco Trust (Not in EPF no). now new rule has come after feb 2016 that entire amt cant be withdrawn except our contribution. So from whom can i apply after 58 years.

    Prashant

    • Dear Prashant..Kindly note that the new rules are applicable to pvt PF trusts too. You can apply for withdrawal through your Trust if you are employed with Adecco at the time of retirement.

  • Hello, I want to know like if employee share is Rs.20000 & employee share is Rs.5000 approx and for service having 1.8 year , so can person eligible to withdraw the amount during the service(for repayment of loan). Is it possible.

  • hi Sreekanth, my office deducted epf from nov 2014 to march 2015 financial year (2014-2015) of rs.1800/month in my salary and i continuously working with same company now, i downloaded UAN passbook from epf website just two days back. according to my payslips, total epf deduction on (Nov 2014 – Mar 2015) is rs.9000/- rupees,but downloaded UAN passbook shows only 7200/- rupees of (Nov 2014-Mar 2015) financial year, passbook entry started from december 2015 only. i think my one epf has not credited
    pls clarify me
    thanks!

    • Anto, There is no mistake here. This is how it happens.

      1. You work from 01-Jan to 31-Jan. Salary credited, say on 31-Jan only (where your EPF contribution) is deducted.
      2. Your company/org deposits this with EPF sometime in February say on 10-Feb. I’m not going to look up exact guidelines by which an org has to deposit funds with EPFO after collecting/deducting from employees.
      3. So, EPFO actually got your contribution (which was a result of your employment in January) in the month of February.

      So, in essence your statement will always run one month behind your actual employment. No need to worry here.

      Cheers,
      Ashu

  • श्रीकांत जी…
    Plz. मैं आपसे ये पूछना चाहता हूँ कि मुझे ई पी एफ में शेयर करते हुए 6 साल हो गए हैं और मेरा बैलेंस मैसेज में 31/03/15 तक EE 36257 + ११०९४ दिखा रहा है टोटल बैलेंस ४७३५१ है तो मुझे अपने सारे शेयर निकालने पर मुझे कुल कितने पैसे मिलेंगे | एक बात और अगर में ये शेयर १० साल तक जमा करता रहूँ और ११ साल में निकलवा लूँ तो उसमे जो ये पेंसन का मामला है ये मुझे समझा दे | क्योंकि मुझे ये जानना है कि कुल बैलेंस मालूम होने पर भी उसका दोगुना फंड मिलता है या फिर नहीं…as per my e-epf app. shown total balance 47351/- on 1st april…

    Thanking you
    Bhuwan Singh

  • Dear Sreekanth,

    I have a query, you have given a very good illustration with previous month’s balance is nil. How will the calculations be made, Let us say in case there is previous balance and also transfer as under at the time of start of year, details as under:
    Employee Balance – Rs.10,000/- Employee’s share balance – Rs.9000/-
    Intt on Employee Balance – Rs.4,000/-, Intt on Employee’s share – Rs.3,000/-
    Transfer of Employee share Rs.15,000/-, Transfer of Employee’s share Rs.12,000/-
    Intt on Employee share transfer Rs.5,000/- Intt on Employee’s share transfer Rs.4,000/-

    My query comes, since I have both, when I reviewed my PF statement online, I find that the interest has neither been calculated on previous balance nor on the transferred amount. You advise will be helpful.
    Kind regards
    Dinesh Minocha

    • Dear Dinesh..What’s the difference between ’employee balance’ & ’employee share balance’ here. Unable to understand your point.
      Kindly note that you can see the interest amount transaction generally in the month of March/April.

  • Hi Sreekanth, Hope you’re doing good.

    It’s Rahul here and kudos for your excellent guidelines and blog.

    I was working with an organisation in 2013 june- oct 2013.

    UAN and KYC formalities has been complied and i’m good to withdraw the PF & EPS amount.

    I’d like to know when can i start the process of submitting the forms to EPFO office with respect to frequency of interest which will be credited.

    Could i submit it within this FY i.e. before march 31 2016 or is it fine to do after Apr 2016

    If i submit delay after April 2016 would i be getting the interest for FY 2013-14, 2014-15 & 2015-16 and 2016-17 as well?

    What if i submit my forms after Apr 2016 and which FY interest would be credited?

    • Dear Rahul,
      You can submit the withdrawal form in the first week of April, so that you can get interest for the full FY (2015-16). Kindly note that interest for the previous FYs would have been already paid.

  • Hello Sreekanth,

    First thing first. Kudos to your wonderfully articulated article. A lot of people like me would have benefited with the nuances of EPF and the related stuff.

    I have a query on EPF Interest.

    What if some one decides to quit his job by 45 years or for the sake of argument say any time before the stipulated 58 years. When there is no more contribution into such an EPFO account with the holder being unemployed. What happens in this scenario? Would the interest still be getting credited on the Principal + Interest amount accrued so far year on year till 58?

    Appreciate your response.

    Thanks,
    Sundar

  • Hi Sreekanth,

    I have query that you mentioned about TDS on withdrawal. I worked for a company for 6 months. Then I left it and now I don’t have any job. They have deducted TDS for the EPF contribution by employee too. So now if I don’t withdraw within 5 years then will I get this TDS back. Or there is any other way to get it back. Also if I withdraw in next financial year then what would be taxation on that amount given that I don’t have any other source of income.
    Please help

  • Hi sreekant
    My name ravi
    Actually my epf account 1080 he draws
    How much amount company given

  • Hi Sreekanth,
    I have a query. You might be already aware of PF Trusts managed by some organizations.
    My previous employer had its own trust for managing PF accounts. I was part of the organization for less than 4 yrs.
    After joining new organization, I do not wish to transfer the PF to new org so that after completion of 5 yrs of maintaining the same PF account, I can withdraw completely without TDS from that PF account. Is that feasible.
    If yes, what does Govt PF guidelines for these private trusts, state about them paying the annual interest on these accounts of old employees and till what period they can maintain.

    Thanks

  • Sreekanth,

    At-least help me on this query, for how to come to the figure of Interest earned for 2011-12 if

    Int. Updated upto 31/03/2011 is 11300 on employee and 10000 on emplyr
    Int. Updated upto 31/03/2012 is 12000 on employee and 10200 on emplyr

    What will be my Interest earned for FY 2011-12, is it whole of 12000 and 10200 OR the difference (11300-12000) for EE & (1000-10200) for ER

  • Sreekanth,

    [I am the same person who has asked a clarification
    What will be my Interest earned for FY 2011-12, is it whole of 12000 and 10200 OR the difference in Int amounts from Previous Yr.]
    [If we are suppose to consider the difference of interest of 2 years, that’s the reason for asking this question.]

    Question 2:
    As per passbook
    Int. Updated upto 31/03/2011 1000 EE 500 ER
    Int. Updated upto 31/03/2011 1087 EE 767 ER

    There was very little difference in the both the years interest, whereas the employee and employer contribution had increased from 2010-11. I understand there was decline in int rate in 2011-12, even though difference of 87/- & 267 is too low. Do you think there was a mistake in debiting Interest in my a/c
    Please comment on this.

    Thanks.

  • Sreekanth,

    Please help me with this. For e.g., As per passbook,
    Int. Updated upto 31/03/2011 11300 on employee and 10000 on emplyr
    Int. Updated upto 31/03/2012 12000 on employee and 10200 on emplyr

    What will be my Interest earned for FY 2011-12, is it whole of 12000 and 10200 OR the difference in Int amounts from Previous Yr.

  • I had worked for 2 years. & applied for pf after 6 months.
    9000 is credited On 28 jan in my account with comment EPFO & 21000 is credited in same account with comments by salary.

    I want to know what is that by salary, is it pension amount?

    • hi vicky,

      I would like to know how long it take for you to credit second time from the 28th Jan.
      I got amount yesterday,its around 11,000/-I need to get more.can you please tell me

  • Hi Srikanth,

    I would like to know about the withdrawal amount,
    when we apply for a withdraw of amount…so as per the instructions which i read i understand that i will get {employee share+employer share (8.33% EPS + 3.67% EPF)+Interest cal up to withdrawal date} , am i right?

  • Dear Sreekanth,

    Thanks for the informative and easily understandable post. I have one query. If one closes the PF before March 31st, that is before the interest for the fiscal year is credited, will he/she lose the interest for the entire year?

    Thanks
    Mathan

  • Hello.

    I am informed that with regards to PF funds, interests would not accrue to the same upon 3 years of accumulation (i.e., no withdrawals).

    I wish to know if the same principle applies for accumulations in case of PF Trusts as well.

    If possible, please provide the legal source ( either under the EPF Act/Scheme or a judgement/case-law) to support your answer.

    Thank you.

    • Dear Dinesh,
      I believe that your understanding is wrong. The EPF subscriber would get the interest amount on all the contributions.
      It is only when one stops contributing to EPF scheme, the interest would still be given for 36 months on the accumulated balance. After which the EPF a/c would be treated as an inoperative one.

  • Hi there, for example if I quit the company after completing 3 years and after that when I will apply to get my pf amount, will I get my pension amt as well with it as my employee was contributing towards pention part of amount

    Regards
    Salim

  • Dear Sreekanth Reddy.

    I paying pf from june 2016,
    1850 employer contribution
    550 employee contribution
    1250 for pension scheme,
    How much money can i get interest for 1 year,

    please give reply

  • Dear Shrikanth,

    Thank youf for the exhaustive information about the EPF. I would like to know weather contribution made to UTI retirement benefit fund retirement option is eligible under sec80C. What is the min investment period and withdrawals are taxable?.

    Thank U

    • Dear Sanat,
      Income tax deduction is available on the amount of investment in the scheme under Section 80 C of Income Tax Act, 1961. It has 5 year lock-in period. It is treated like a Debt fund for taxation purposes, so Long term capital gains tax rate @ 20% (with indexation) is applicable.

  • Hi,

    Firstly thanks for the information.
    I have a query about when I quit my job and withdraw the entire PF do I get (EPS+EPF + interest) or (EPF + interest) and what happens to EPS in the second case, do I get any interest on EPS also if I receive it in my withdrawal.

    Thanks in advance.

    • Dear Zuni,
      You need to submit separate withdrawal forms for EPF (Form 19) & EPS (Form 10c). Interest is paid on EPF contributions.
      You will not get any interest on your EPS contribution.
      You can withdraw EPS amount provided you have completed less than 10 Yrs of service. The withdrawal amount is calculated based on a formula.
      To avail pension, you must complete 10 yrs of service and your age must be 58 yrs or above.

  • Hi Sreekant,

    I have a query. My previous employer was maintaining the PF account as a trust and my current PF account with new employer is in RPFC.

    I want to transfer the amount from previous emploer’s Trust to my current RPFC account. So my query regarding this is:

    1. If I initiate the transfer now and it gets done before March 31 ,2016 i..e this financial year ending , then will I get the interest amount for this Financial Year also transferred ? or I will not get the Interest for this financial year?

    Thanks
    Neeraj

  • Hi !
    In March 2015,I earned my first salary in which my PF deduction has been done,but on the day of mid November 2015 I left that company so am i eligible for interest or not?

    There were total deduction of 900 RS (including me and employer), so how much I will receive back?

    Reply soon,
    Thanks in advance

  • Hi sir, u blog has been amazing..
    My friend has worked for one year in pvt co. And she claimed the PF after resigning in a year..
    Within 15 days she git a funds in her a/c but the amount is lesser than in it mentioned in EPF A/c..
    As per site, emoloyee contribution is 17996 + employer contribution is 5676 = 23672.
    But she got only 12935..
    Pls advice..

  • Dear Sreekant,

    At first, I would like to thank you for posting detail information on PF. My erstwhile employer was maintaining a PF trust and my accrued PF was transferred from trust to RPFC on 10th Oct, 2015. How RPFC will treat the transferred PF for computing interest? Will I receive interest on the transferred PF fund from 11th Oct, 2015 onwards? My current PF is deposited with the same RPFC office. Please clarify.

    Thanks,
    Mudita

  • Hi Sriknth, Thanks for taking initiative to share your knowledge abt EPF, i liked this article.

    Would need to have clarity on last point alone, you stated that if we maintain EPF account(for 5 years) without withdrawing , tax deduction is not applicable. Can you explain that alone please since i couldnt understand

  • Hi Srikanth,

    I have done online pf transfer twice successfully but this time i made a little mistake as my current company is Trust one so i should have opted for my current company but i choosed previous one apart from that i was not having idea that we have to mention trust details as well but system generated blank over there(but now when i tried to check whether i can do another online pf transfer only to test system generated all trust details and this happened after 4 days of submission). No w i am worried how the transfer will happen and what are the next steps after rejection.
    One more thing when i checked previous company uan in uan member portal there is new row over there in passbook Claim Against PARA 57(1) but whole amout is not mentioend in row.
    I think some process is going on.
    Any idea about my query?

    • Dear Vinay,
      You may wait till 15 days and once the claim rejected, you can submit new request with correct details.
      I am not sure about ‘passbook Claim Against PARA 57(1)’ issue.

  • Dear Sreekanth Sir,

    I worked in ‘X’ company for 4 years, and i am currently not employed. My Pf amount is obviously more than 30000 which will be taxable if i withdraw before 5 years of the PF account created.

    My question – In the above situation, to avoid TDS, shall/can i submit the 15G form to avoid tax if my annual income in not under taxable. i will submit my PAN in the 15G form also.

    Your reply will be useful.
    Thanks in advance.

  • I felt this article quiet useful and understandable and I have read many of ur pages.thanks,they are quiet useful.what is the rate of interest for the refundable loan on my pf amount?

    • I dnt want to withdraw permanently,instead I want to take as a loan and repay it

      I have another query which is irrelevant to this page,its regarding MFs
      In which MF i can invest so that I can make atleast 3-5 lakhs after 3-4 years. I can invest a max of 4k/month starting from Feb’16

        • so what is the approximate max investment per month if I need to accumulate 5l in 3 years with best MF.also let me know is there any other investments so that I can accumulate the same with min amount per month

  • Sreekanth Reddy Garu,

    i am earning salary of Rs 14,791 (take home: Rs 12000+Deductions Rs 780 + Employers contribution for PF Rs 885 + Medical insurance Rs 280 etc). Please tell me how much amount will be added as interest to the above PF per month. Also please tell me benefits of medical insurance & how to utilize the same. Thanks in advance.

  • I APPLIED PF WITHDRAWLS IN JANUARY- 2016 . Every year end of the 31st march pf interest caluclated.
    my pf contribution apl-2014 to oct-2015 can i get last 7 months pf interest

  • Dear Mr. Shrikanth,

    Thanks for a detailed help and illustrations.

    I need to know is it beneficial to withdraw EPF accumulation or to get a personal loan to pay an amount of Rs 350000/- . I will be able to payback this amount in 12 months max.

    present PF accumulation is 1630861.

    Per month Deduction is 5640 Voluntary deduction Rs 6110.

    it will be great if you reply in details on my email ID paragdharkar@gmail.com

    Thanking you in anticipation,

    Regards,
    Parag Dharkar

  • Dear srikant
    If I leave my organisation on march and don’t withdraw my EPF till may 2015. Will I get interest for fy 2015-16 from my present company.??

  • Dear Sir,

    Thank you so much for your clarification on PF (Employee and Employer Part)
    But still i have dought on Pension (that is 8.33% of employer part):- please clarify me–
    Q1. As i can see in your screnshot 1) there is NO interest amount added by end of financial year to the pension amount, why its so?
    Q2. Did we get pension amnt transferd/withdrawled when we do the PF transfer/withdrawle:– again as you mention in another screen shot about the transfer money– there is NO money mentioned in pension part.

    Please clarify me.
    Dhananjay

  • I worked for 9 month for an IT firm in Hyd (June 14 to Apr 15) and then moved to Bangalore and joined new company. I got my UAN from new company. How do I transfer my Hyd pf amount to present account. when I checked my pf balance, I get message as records not available and it shows in the site as last updated 12 Dec 14. I want to check the balance before transferring the amount.

    Also please let me know if I can withdarw money if possible.

    Thanks,
    karthik

  • Mr. Ragavendra

    I worked in an org for about 9 continued years. I quit recently and have not withdrawn my PF amount. Is it safer option to leave the amount in pf office for it to fetch interest or should I withdraw? Since I worked more than 5 years I am sure my amount will not be taxed. Secondly what happens to the EPS amount of 1250 set aside for all these months or years? Will it be given as well or is there any other clause attached to it?

      • Dear Anand,
        You need to submit separate EPS withdrawal form. Check with your Ex-employer if you have not submitted it.
        If you are currently not employed, you may withdraw EPF monies and can invest in other better investment avenues based on your Financial goals and profile.

  • Hi Thanks for detailed info. I hv one question? recently i hv changed my company and transferred all my pf amount from old account to new account. Amount along with interest is now transferred in my account, but even after 2 yrs I am only getting interest on the contribution I am making in my new company. No interest has been given for the amount trasferred from my old PF account to new account. Is there any rule pertaining this? I was under impression that old PF amount will be added up as carry fw balance for next yr to calculate interest. Pl clarify.

  • Sir,

    In my EPF Account my existing balance is RS. 140000 including employer share i want to withdraw some amount how much i can withdraw.

  • Thanks for the detailed information.
    I have PF worth 90K. I have done service in a company “X” for 4years ,8 months and quit the job in jan 2015. I’m not continuing with any job for next 2-3 years.These are my questions:

    a)If I keep the money in PF account for 3 years, will it earn interest?
    b)Since I do not have 5 years of continuous employment, will it be taxed?
    c)When we withdraw PF, will the pension fund also be given?

    Please suggest , if it is good to keep in PF account for another 3years or withdraw the money.

    Thank you!

    • I have a similar query.
      I worked continuously in a company for 4 years 10 months and quit in May 2015. I am not employed right now. Since the withdrawal guidelines state that 2 months of unemployment is necessary, would that account for 5 years in total (4.10 years+ 2 months) and would withdrawing after 5 years make it non-taxable ?

      Also, is it advisable to withdraw the amount right now when I am not employed as it falls in the 20% tax bracket and would be my only source of income so would bring the tax down to a great extend (given I earn nothing currently) or to keep it till the time I can.

      • Dear Sana,
        I believe that as your contributions are for 4.10 years, TDS can be applicable.
        The decision to withdrawal is dependent on your requirements. If you do not have any obligations , suggest you to withdraw and invest in some other better investment options as per your financial goals.

  • I have seen my EPF statement and understand the details of what employee and employer has contributed in last 7 years of my service. My question is how can i get the information about any money added because of the govt interest rates/schemes. I don’t see that in the statement.
    I was planning to withdraw all money from my account and keeping it in FD for more benefits as i was not able to understand the benefit of keeping money in EPF. Please advise.

      • Thanks for your reply. Yes, i am currently employed and after going through the statement i thought where are the interest rates and thought may be idea of FD is better. There are no columns of interest credits in the statement and there is only monthly credited amount mentioned and there is no mention of interest credit. There is one additional row annually “Int. Updated upto 31/03/2013”; is it the interest rate and the row you are talking about?

  • If service is complete 10 years but employer not update epf last 10 month at that time employee is eligible for under 10 years epf withdrawal please guide us

  • I would need clarification on ppf interest calculated. When I see FD, I aM getting higher interest although the ROI is only 8.2%.
    Although My total PPF is higher than 1 lac, I aM usually getting 2000-3000 rs only. If it is FD I should be getting More than rs 8000 p.a.

    Please clarify why this is like this.

    Thank you for your help.

    • Dear SEKHAR,
      So much difference in interest earned. Somewhere your calculation or understanding is wrong.
      Also, note that interest earned on FD is taxable.

  • Sir
    i joined in the month of Jan,2008 in p.ltd.co. at the age of 52 years,still i am doing my job,& the co.is deducting my p.f rs.1800 p.m.& they are not seperate the employer contribution as epf & eps what is the rule kindly confirm or

    elobrate the same
    thanks

  • Sir,

    which is better option for Savings of PPF & Post office saving scheme..

    regards
    Ravi

  • how the total interest of a financial year is divided between employee share and employer share

  • Sir
    I got my eps amount as average salary x table D factor which was told by epfo in response to my grievance.but said you that eps is calculated as last salary x table D factor.Please answer

  • Thank you for your wonderful article and information on EPF related matters.

    I read in some internet source that tax benifit cannot be claimed for principle or interest earned for employer contribution for EPFO scheme under section 10 (D) and other section at the time of retirement.

    I would be thankful, if you can clarify whether both employee and employer contribution and its interest are tax free at the time of retirement or interest earned in employee contribution is only tax free ? What are the tax liabilities for employee and employer contribution ? I would be thankful, if you can eloborate this matter.

    With Kind Regards

    Aravind

    • Dear Aravinda,
      Tax benefits are not available on employer’s contributions (u/s 80c).
      At the time of retirement, the entire EPF a/c money is tax exempted.

  • I worked in a company for 4 years and 6 months and withdrew my PF after 5 years due to travel abroad. During withdrawal the PF trust has deducted around 22% of the total settlement amount. Could you help me understand is TDS applicable here and if yes is this the right amount to be deducted?

  • PF withdrawn after 5 years is tax exempt. Which part interest or entire amount has to be shown in itr under schedule EI ?

  • Hi,

    My PF deduction monthly is around 1800/month till date and the same share is from Employer’s end as well. I have been working in the company since Sep 2010.

    My question is – If i happen to withdraw it in the month of Oct 2015. How much amount can i expect?

    Appreciate your help.
    Thanks in Advance,

  • I have some doubt:

    I have worked on Company A from March 2006 to October 2008.
    Then I shifted my job and worked on Company B from November 2008 to November 2011.
    Then I shifted again to Company C and working there since November 2011.

    Both my PF A/Cs in Company A and Company B remained unoperative until April 2015 as I did not transferred the balance in my old PF Accounts to the new Accounts.

    I have initiated and get the balance transferred from PF A/Cs of Company A and Company B to Company C in April 2015 and the transfer has already been done and the balance is now reflecting in my New PF A/C.

    However, the EPFO did not pay any interest on the amount accumulated on my PF A/Cs in Company A and Company B.

    So, my question is:
    1) Do I entitle to get the interest for the three years even though the balance transfer from old PF to new PF account is initiated after three year (as in my case)?

    2) If yes, what I need to do to get the interest from the EPFO.

    Thanks,
    Sandeep

    • Dear Sandeep,
      Company A – you have to get interest for the period from 2008 to 2011 (3 years) though no contributions were made, after that the epf a/c would have become in-operative.
      Company B – you have to get interest for the period from 20011 to 2014 (3 years) after that the epf a/c would have become in-operative account.
      Yes, you are entitled to get interest.
      You may contact the nearest EPFO office for details. Contact details are available on EPFO website.

  • My salary was 4500 at exit,I have received 17615 in form 10c,so what was my service year calculated, 4year or 3 year.actually I have spent 6 years in job.but epf was deducted 1year later,now my account was inoperative,& epfo doesn’t say anything,except saying you have settled

  • Dear Srikant,

    Could you please tell that in pf slip form 23 is pension amount included or only epf from employee & emplyr?

    Please confirm

    Tks in advance.

    • Dear Sheela,
      EPF/ PF contributions are only reflected in the Form 23 and it is maintained by the respective PF offices in the member’s account individually.

  • Hi Sreekanth,

    I have been working from Feb 2013 for a company. I am planing to resign and moving to hometown. Also no more planing to work for any company. Can you help me on below given queries?

    1. Can i keep the account without withdrawing money? Will the interest will be calculated up to 58 years?
    2. If withdraw money how to get full amount without any tax?
    3. Can i deposit money for each month as a self employment for each month?

    Thanks In Advance,
    Mohan

    • Dear Mohan,
      1 – Interest will be credited for next 36 months only. After that, the EPF a/c will be considered as inoperative one.
      2 – You can not avoid tax. Tax is applicable.But, if you do not have any other income in a given Financial year then you can file ITR and get refund of any TDS that has been deducted, accordingly .
      3 – No. You may consider PPF (Public Provident Fund)

      • Hi Srikanth,

        If interest calculated fro 36 months can i leave it without encash?
        And can i apply after 2 years to withdraw(i.e. completion of 5 yr period)?
        So it is like 3 years operated account and 2 years In-operated account.

        Please suggest me.

  • Hi Sreekanth,

    i have worked in X Company for 4 Years and i joined in Y Company and I have transfer my PF to Y(New) Company.

    will interest calculated on my OLD PF(from X Company) money or will calculated only for New PF(from Y Company)

    Thanks,
    Srinivas

  • Hiii sreekanth I have a pf account in which my contribution is around 900 rs p/m for 6 month..I left tht company a year ago…in may 2014 …so now how many amount I will get if I withdraw the money

  • Hi

    I have a question on the taxation of the EPF amount. If I work in a company for 3 years (throughout which the EPF contributions are made) and then I quit the company but do not withdraw or transfer the EPF amount. If I submit the papers to withdraw the EPF amount after 2 years
    1. Will I be taxed as I have technically let my account be “alive” for a continuous period of 5 years?
    2. Will I earn interest for the 2 years that I have not contributed?
    Please clarify.
    Thanks

    • Dear Sumitra,
      The EPFO’s circular says ‘years of service’, so in this case TDS will be applicable. You will get interest, after 3 years of non-contribution the account will be treated as in-operative one and interest will not be paid.
      kindly read my article – Inoperative EPF A/c .

  • you are requested to please give me advice that i will transfer the EPF from old employer to current employer account than the amount of pension contribution will be transfer along with employee share and employer share

  • i am due to retire on 30/06/2015.I understand i can keep my PF with my company;s PF Trust (recognized by GOI) for 3 years & interest received at the end of 3 year period is not taxable.Can u elaborate the income tax rule to claim exemption of above interest @.

  • Hi Sreekanth,

    I am in my 10th year of service. With X company 5.1 yrs and still working for Y. I did transfer PF from X to Y. Once I stop working and want to withdraw PF amount, do I still need to pay tax on my withdrawal amount ?

    Please clarify.

  • Hi Sreekanth,

    Nice article with examples. Can you share excel on my email?

    Thanks

  • I resigned a job , since feb2014 , now i am working abrod, so i am not filling any EPF , so the balance amount in my EPF account will get interest or not?

  • What about transfer claims? Is that included for Interest calculation for next month?

    Thanks, Sathish

      • A person as resigned and joined a new company and transferred his PF account in Jun. Then in this case, Jul interest would be calculated as (current company employee contribution+End of month balance till Jun+Interest from prev month balance + previous company employee contribution).

        Is this correct?

  • One more doubt is whether the 6500 is maximum ceiling or minimum? If my salary including DA is 50000, does employer contributes 12% of 50000? I hope it is.
    In that case, fo EPS too, is 6500 is minimum?
    Thanking you in advance.

  • Thanks for your simple and crisp explanation on EPF Interest calculation. And it was exactly in time for me. I had been trying for it, but I used to get information in bits and still incomplete. Now I will start calculation and I hope I can get further help in case I find some difficulty.
    Further I have a query on calculation of withdrawal benefit.
    My basic pay when I retired on 31 -3 -2014, at the age of 60 – on superannuation, after completing 9 years of service was Rs. 30000/- Can you please tell me what is the amount of withdrawal benefit, I should get? Can you tell me the actual amount applying the chart in schedule D or so? Is it 6500*9.88= 64220? I was paid Rs.46345/- I dont understand.

  • NO;1-HOW TO I KNOW THE PF AMOUNT I WILL GET AFTER MY 6 YEAR PF CONTRIBUTION
    2;MINIMUM MOUTH OF GETTING PF AMOUNT
    3;WHEN I AM ELIGEBLE FOR MY PF AMOUNT , MIN YEAR 1 OR 2 YEAR

  • Have a question on the EPF interest calculation you have explained here.

    The interest earned in the previous year Rs152 has not been included to the previous year closing balance of Rs7133 while calculating interest for Apr-13.

    The interest calculated in Apr-13 shows only (Rs7133 x 8.75%)/12. This should have been (Rs7133+152)x(8.75%/12) .. Any reasons why it was not included?.

    Please clarify.

    • Dear Arun,
      The interest is paid on previous month’s ending balance. So Rs 152 is included in April’s balance and the interest is paid in May.

  • IS EMPLOYEE INSURANCE AMOUNT WILL PAY TO HIS NOMINEE WHEN EMPLOYEE DIED DURING DUTY OR DIED ANY TIME.

  • hiii shreekanth

    my organisation have kept pf as optional if taken then 24% of basic will be deducted from my salary itself then should i opt for pf or go for lic investment

  • Hi,
    when I viewed the PF statement, it showed interest credited for the contributions made in 2014 – 15 (which is showing in correct amount only). However the statement doesn’t reflect the interest earned for the balance amount that is present till March 2014. Is this common or there is an issue here?
    Kumar

  • Dear Sreekanth,

    A very well researched, informative and well explained article. Please keep it up.

    Ranvir

  • Hi Sir,

    I have downloaded my PF contribution from the EPFO website, but the interest earned, does not match with the calculation. [ http://bit.ly/19LTFks ] file is available in this location.

    Kindly, verify and let me know.

    Regards,
    Tuhin

  • Dear Srikanth Garu,

    Nice article.Thanks for your time.

    Pls share an article on interest calculation on R.D’s through.If possible to send on mail id pls do so.

    Thanks,
    R.Ravi.

  • Very good informative article Sreekanth, please do share the excel

    Thank you
    Sridhar

  • Hi Sreekanth,

    Very nice and informative article. Would it be possible for you to share the excel calculator?

  • Good articles, simple and to the point!!! Do you offer any paid services in financial matters?

  • I want your suggestion regarding my choice of funds and any changes to be made .
    1. IDFC PREMIER EQUITY FUND-GROWTH (REGULAR PLAN)
    2.ICICI PRUDENCIAL FOCUSSED BLUECHIP EQUITY FUND FUND REGULAR PLAN GROWTH
    3.ICICI PRUDENTIAL VALUE DISCOVERY FUND REGULAR PLAN GROWTH
    4.UTI OPPORTUNITIES FUND GROWTH PLAN
    I am planning to invest for 5 years please give your suggestion.

    • Dear Aarti,
      1 & 3 Funds are Small-Midcap oriented funds. So, you shortlist one fund. You may consider ICICI Pru Value discovery fund
      2 & 4 – These are large cap funds. Both are equally good funds on all parameters. You can confidently invest in any one of them.

      (if you want to leave your comments related to equity funds, suggest you to leave them after this post “Top Equity Funds.”)

  • You explained it in a very simple way, easy to understand, great job, thank you so much Sreekanth.

  • Hi Sree….
    In a very cut short form , you have provided a detailed information…reagarding epf interest is a very helpfull to all of us….
    thank you…..

  • Good one Srikant – Thanks

    One question – will the pension contribution also paid along with PF when employee withdraws the PF from the company ?

    • Dear Nags,
      Nice to see you here.
      Legally, we should not withdraw PF and Pension (EPF & EPS), if we are joining a new company.
      Yes, you need to submit withdrawal request for both provident fund and pension monies.

  • Hi Sreekanth garu,

    Thanks for sharing detailed info regarding EPF . it is very nice article. Thanks for your time!

    – Rajendra

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