Can someone help me with an illustration for calculation of interest for PF wherein an entry for transfer of corpus from earlier account is included. Snap of passbook is enclosed for ready reference.
4 Answers
Hi,
You may kindly go through this article @
EPF a/c interest calculation : Components & illustration (Employees’ Provident Fund)
Hi!
Thanks for your reply. I had already seen your post on this earlier and have created my own calculation sheet. But I cannot figure out how to calculate for corpus transfer amount which happened mid-way in the fiscal. Had uploaded a sample for reference.
Thanks for your reply. I had already seen your post on this earlier and have created my own calculation sheet. But I cannot figure out how to calculate for corpus transfer amount which happened mid-way in the fiscal. Had uploaded a sample for reference.
Hi,
May I know your exact query!
Kindly note that interest calculation on EPF is a system generated one, kindly dont worry about the correctness of calculation!
Hi Sreekanth,
What I’m asking is that I have seen and understood the interest calculation method adopted in case of regular PF deposits. But you must appreciate that with a company change, the previous PF amount gets transferred and the transferred corpus is added as a midway entry. In such a scenario, I cannot understand, how the cumulative sum is considered for interest calculation. PF interest calculation being a system generated one, I have complete faith on that but I want to know the methodology for my own knowledge. Can you help me with that?
Thanks.
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