I was reading the stuff about Provident fund and EPS. I have a couple of questions
1) Private companies can have their own PF Trusts? In case they have it, how can i know the Balance in the EPS as they only tell us the PF balance.
2) In case i join a new company from the older one, will the "10 years of Service" begin from scratch as my new PF account number is opened in new company in which i transfer the money from the older account.
From India, New Delhi
1) Private companies can have their own PF Trusts? In case they have it, how can i know the Balance in the EPS as they only tell us the PF balance.
2) In case i join a new company from the older one, will the "10 years of Service" begin from scratch as my new PF account number is opened in new company in which i transfer the money from the older account.
From India, New Delhi
EPS is not managed by Private Trusts but EPFO. 10 Yrs service is from the date of PF account. Pon
From India, Lucknow
604From India, Lucknow
So it means if i open a new PF account on changing jobs and transfer my previous PF account to the new one, my service starts from 0?
From India, New Delhi
From India, New Delhi
Private companies manage the PF portion only. They transfer the EPS portion to EPFO. Even if you change the services from one employer to another, the service does not get affected w.r.t. EPS continuity.
Pon
From India, Lucknow
Pon
From India, Lucknow
Dear sir,
I have about 32 yrs of service starting from Oct-1979 till Sep-2011 across different organizations spanning Family Pension regime to EPS regime. In some companies the Provident fund was managed by its own trust and some others it was EPFO.
Company A- GoI PSU (19-Oct-1979 to 30-Nov-1991)- Pre EPS era --Managed by PF commissioner, Bangalore
Comapny B -A Pvt Ltd Co. (09-Dec-1991 to 30 Jun-1996) - Pre EPS era --Managed by PF commissioner, Bangalore
Comapny C -A Pvt Ltd Co. (25-Sep-1996 to 30-Jun-2007) - Post EPS era- Managed by Co. Trust
Comapny D -A Pvt Ltd Co. (02-Jul-2007 to 31-Mar-2009) - Post EPS era --Managed by PF commissioner, Bangalore
Comapny E -A Pvt Ltd Co. (25-Sep-1996 to 30-Jun-2007) - Post EPS era- Managed by Co. Trust
As my PF no. was different in each organization, how will EPFO keep track of my total service to work out the Pension that is correctly due?
What should I do so that do not lose out on the pension benefits?
Thanks
From India, Bangalore
I have about 32 yrs of service starting from Oct-1979 till Sep-2011 across different organizations spanning Family Pension regime to EPS regime. In some companies the Provident fund was managed by its own trust and some others it was EPFO.
Company A- GoI PSU (19-Oct-1979 to 30-Nov-1991)- Pre EPS era --Managed by PF commissioner, Bangalore
Comapny B -A Pvt Ltd Co. (09-Dec-1991 to 30 Jun-1996) - Pre EPS era --Managed by PF commissioner, Bangalore
Comapny C -A Pvt Ltd Co. (25-Sep-1996 to 30-Jun-2007) - Post EPS era- Managed by Co. Trust
Comapny D -A Pvt Ltd Co. (02-Jul-2007 to 31-Mar-2009) - Post EPS era --Managed by PF commissioner, Bangalore
Comapny E -A Pvt Ltd Co. (25-Sep-1996 to 30-Jun-2007) - Post EPS era- Managed by Co. Trust
As my PF no. was different in each organization, how will EPFO keep track of my total service to work out the Pension that is correctly due?
What should I do so that do not lose out on the pension benefits?
Thanks
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Employee Pension Scheme, 1995.doc
Form10C.PDF for Employee Pension Scheme 1995.PDF