PF Balance - Pension Fund

I want to share some more information which I have regarding PF balance SMS getting from EPFO and PF interest calculation tool (Excel file).

Information on SMS getting from EPFO
Sl.No Massage Meaning/ interpretation
1 Account Details Office and Account no ext,
2 EE Amt.: Employee’s Contribution (12% on Basic +DA or Max. 780/- per month)
3 ER Amt.: Employer’s Contribution (3.67% on Basic +DA) or Max. 239/- per month)
4 ER Pension Remaining balance of Employer’s Contribution (8.33% on Basic +DA “or” Max. 541/- per month). is goes to pension fund account. (it does not reflect the PF Account)
5 As on date– dd-mm-yyyy Your monthly contributions updated as on dd-mm-yyyy
6 (Accounts updated up to 31-03-2010) Interest added to your account balance up to 31-03-2010((interest is Compounded annually)
7 Interest rates 16.11.95 to 31.3.2000 - 12%
1.4.2000 to 31.3.2001 - 11%
1.4.2001 to 31.3.2005 - 9.5%
1.4.2005 to 31.3.2010 - 8.5%
2010-2011 is 9.5%
2011-2012 not yet declared



All the best

KVJ Raghunath

Thanks Mr Raghunath/Mr Dhingra, is it possible to calculate the approx. balance that i am entitled to receive?

I have filled PF withdrawal form 3 months ago..
On website status showing as Under Process. When we call at PF office, nobody pick-up call.

I also sent mail multiple time on given email ID of respecting PF office but nobody respond.

I also put grievance on website but nobody responded yet. Let me know what to do ?

Who can be authority believe in responding me.

Regards,
Sourabh

Dear Chandan,

Definitely you can. You can even calculate exact balance along with interest on your pf account, as follows:

Take the closing balance (CB) of the last year, say 2008-09 and treat that as your opening balance (OB) for the year 2009-10.

You can cast OB & CB of each month as follows:

April 2010: OB (+) total subscription of the month (-) withdrawal (if any) = CB
May 2010: OB, i.e., CB of April (+) subscription of the month (-) withdrawal = CB

AND SO ON for every month up to March 2011

ADD all CBs of 12 months and DIVIDE by 12 = Average yearly CB at the end of March 2011

To this CB, multiply with the approved rate of interest/100.

Last CB + interest will be your balance for 2010-11.

Similarly, you can calculate for 2011-12 and onwards every year.

Mr. Chandhan, Yes You can calculate. Find the Calculation tool All the best KVJ Raghunath KVJ Raghunath

Attached Files

Provided by community member kvjraghunath. Join us to learn and grow with your peers.

Provident Fund interest Calculation Tool -97-03.xls (74.5 KB, 1010 views)