P.F. Transfer - Provident Fund
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P.F. Transfer - Provident Fund

krishrajagopalan Started The Discussion:

I was working in a organization which was having its own trust for Provident fund. There was no deduction towards Employees Pension fund from my contribution.
Now I have a joined a new organization, which is with the Regional Provident Fund Commissioner.
If I transfer my amount in the P.F. to my new account, whether there will be deduction towards Pension Fund from my accumulated amount or will it be only from my future contribution.

bhanu p singh - Member Since: Apr 2010
Dear Mr. Krish
when any organisation have its own trust the Employee contribution 12% and Employer share for PF is deposited in Trust but the pension amount which is payable by the employer is deposited in PF Office.

whenever you goes to transfer the accumulations you will have to move two form 13 one for EPF and one For EPS.
there will not be any deduction from your accumulation.

Regards

Bhanu Pratap Singh

abbasiti - Member Since: May 2010
Dear Krishnarajagopalan,

When you have joined EPF? Before or after 16.11.95? If before 16.11.95, were you a member of the earstwhile Family Pension Scheme? If the answer for the last question is no, had you opted to join EPS? Please answer the above questions to confirm that whether you had been a member of EPS in the previous service.

For EPS no deduction wii be affected on the employee contribution. From the employer contribution 8.33%, subject to a ceiling of Rs. 541 p.m, will be remitted to EPS and rest of the contribution will go to the individual PF account.

If you were not a member of EPS and the PF authorities now allow you to join EPS with retospective effect for the previous service, you have to pay the full amount/arrears with an interest rate of 8.5%.

To transfer both EPF and EPS, one number of Form 13 will do. The previous PF Office will prepare Annexure K and send to the present PF Office with the details of both EPF and EPS.

Abbas.PS

shivkeen - Member Since: Aug 2009
Quote:
Originally Posted by krishrajagopalan View Post
I was working in a organization which was having its own trust for Provident fund. There was no deduction towards Employees Pension fund from my contribution.
Now I have a joined a new organization, which is with the Regional Provident Fund Commissioner.
If I transfer my amount in the P.F. to my new account, whether there will be deduction towards Pension Fund from my accumulated amount or will it be only from my future contribution.
I am K N Shivananja I was also working in public limited co.,afterwords I have joined another company it is an exempted unit. I was member family pension scheme in the earlier company. I do not know whether they transfer the family pension amount.To start my own industry , I have left they given a lump sum amount. But I do not know whether they included my family pension amount. I left the company in 1987. I do not know whether they included the family pension. If any one can guide whether they have included the family pension.

Shyam Agrawal - Member Since: May 2010
Dear Shri Krishnaraja,
I hope you have received satisfactory answer to your queries. Some organizations maintain PF accounts of thier employees in the Trust with the prior approval and sanction of the EPFO. Without permission of the EPFO, no employer will venture to keep the amount deducted from employees' salary with him. The employers who are permitted to maintain PF accounts of their employees have to send pension contribution to the EPFO office of the area. When an employee of such an employer changes job and applies for continuation of his existing PF account, the Contributory Provident Fund Trust of his previous company sends the deposits with interest to the EPFO office of the area where the employee has taken up new assignment. The EPFO also tranfers the Pension contribution to the new EPFO office. The employee gets benefit of continuation of his membership of the EPS 1995.

As regards the query of Shri K N Shivananja, I wonder whether there was any option of return of capital in the previous Family Pension Scheme, 1971. I would therefore carefully watch the posts to know more about this case.

Thanks and regards,

kannanmv - Member Since: Apr 2009
Dear Mr.K N Shivananja,

In your case the earlier Family Pension scheme will be applicable.

You have to tell us whether you submitted two claims one for PF and other for EPS. If you have submitted for PF and have received the amount then your claim for pension is still lying with the EPF office.

Please note that EPF office does not maintain a individual Pension account for each individual as is being done for PF. The amount remitted to the Pension account is maintained as a corpus fund. So based on the last drawn wages the Pension amount is calculated and being paid.

You may have to verify with the respective PF office for more details and then forward your claim for Pension if you have not done already as the account has been lying inoperative for over 23 years. Urgent action on this is advisable.

Regards

M.V.KANNAN

sumitk.saxena - Member Since: Nov 2007
Dear Krish,
Greeting for the day,
In the organization where there is a PF trust the deduction of 12% + 3.67% is only deposited to PF trust and rest 8.33% (pension fund) is deposited to the concern EPFO in case to transfer the Pf + pen. accumulation you have to fill 2 set of Form 13 and submitted the same to the concern EPFO.
Thanks & Regards,
From,
Sumit Kumar Saxena,
+91-9899669071, 0120-4131277

sekharpalle - Member Since: Oct 2010
Dear professionals plz let me know thease issus:

-Full& final settlement(sample docment)
-Training needs collection process&nessessary docs& calander.
-Induction Checlist.
-Exit Interview details & Exit Form
-Employee joing form
my mail:
mbn:9581642686

THANKING YOU PROFESSIONALS

meghal_6600 - Member Since: Apr 2013
Can you please explain detailed process of PF transfer after filling up form 13,process at EPFO?
I am joining company A, but I have a PF A/C of Previous to previous employer which is unused sicne 1 and half year, Hence I have following questions:

1)Will my old a/c amount be transferred to new employers PF a/c?
2)or will the new employments deductions be credited to old a/c?
3)What is procedure to find out the reason of claim getting rejected?
4)What is average time for PF a/c transfer?

tkhanna82 - Member Since: Apr 2014
I worked for a IT company from 2004 to 2008 and now I want to transfer that money to my current employer. When I checked my EPF balance for that employer I get a message "Inoperative PF Account" Please contact PF office. I submitted a request for PF transfer online at epfindia.com and submitted it to my current employer. Please suggest if I need to do something else.

Thanks,
Tarun



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