Cite Contribution
1856

Greetings,
This question was raised by N. Murali:
If an employee leave the job from the organization after completion of his 11 months and he applied for PF refund by completing the forms 19 and form 10c, where his basic salary is 10000 and now i want to know how much amount he will get and what is that calculation part for this.
Regards,
Murali
Management Trainee

From India, Mumbai
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Boss2966
Industrial Relations
Sumitk.saxena
Service/manager-hr
Gopinath Varahamurthi
Mindhour Partner, Ass.professor/adm. Officer,
Pandhareyogesh
Admin Executive
Cite Contribution
Community Manager
Abbasiti
Assistant Engineer, Indian Telephone Industries,
Ashwin.hebbal
Software Engineer
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deadsoul2011
3

IF the employee is subscribed to EPF then kindly view this thread and look at the replies given by Ashok Kumar Mishra for refund of EPF PF,
https://www.citehr.com/53350-provide...d-pension.html
but if the company has its own trust where its only PF and no pension part, then full PF amount along with interest is refunded, i guess so ;)

From India, Madras
boss2966
1167

In Form 19, there will be a column stating, Whether required EPS Certificate or not? In that column the applicant has to make a tick mark in NO Box. Then he will get his all 24% PF (Employee 12% and Employer 12%). If he made the tickmark in YES Box, then he will be issued with EPS Certificate and further 15.67% (12% employee and 3.67% employer) and if the EPS amount is more than 541 per month, then in excess of Rs.541/- whatever it may be the amount also will be added alongwith 3.67%, and given to the individual.
From India, Kumbakonam
sumitk.saxena
252

Dear 1979,
Greetings for the day,
Since you have mentioned that you are completed 11 monts of your sevice then filed withdrawl claim of PF accumulation.
you will get full refund of your EPF & EPS accumulation including current intrest rate i.e 12%+current intrest rate+3.67%+current interst rate-Through Cheque1.
8.33%(EPS)-Through cheque-2
The accumulation directly credited to your account through 2 cheques within stipulated time.
Thanks & Regards,
From,
Sumit Kumar Saxena,
9899669071, 0120-4131277

From India, Ghaziabad
abbasiti
517

I understand that the total contribution to PF is 1200+1200 = Rs. 2400, out of which Rs. 541 go to EPS and balance Rs. 1859 will be credited to PF account.
Towards EPS, the withdrawal benefit will be
6500 x 1.02 =Rs. 6630 - (A).
The details of PF contribution is as follows.
Employee Contribution - 13200
interest @ 9.5% - 627
Sub total - 13827
Employer Contribution - 7249
interest @ 9.5% - 344
Sub total - 7593
Total 13827 + 7593 = Rs. 21420 - (B)
Those who join EPF on or after 16.11.95 or join the Family Pension under EPF before 16.11.95 have no option to get exempted from EPS.
Abbas.P.S

From India, Bangalore
sumitk.saxena
252

Dear Abbas.P.S
Please clerify the EPF/EPS calculation done so far.
secondly rate of intrest is paid on EPF only i.e 12%+3.67% not on 8.33% i.e EPS.
Thanks & Regards,
From,
Sumit Kumar Saxena,
9899669071, 0120-4131277

From India, Ghaziabad
abbasiti
517

To calculate interest on PF; (1) add the monthly accumulations, (2) divide by 12, (3) then calculate the interest at the prevailing rates.
For EPS withdrawal, there is a multiplying factor stipulated in Table D which is to be multiplied by the last drawn salary. No other interest will be considered.
Abbas.P.S

From India, Bangalore
Zeeshan AB
Hi,
My Employee share is 37917 which has variable VPF contribution every month. My Employer Share 4836.
The amount in pension fund is 10574.
So the above amount is after 21months.
I am planning to quit the company in next two month, the sole reason why I contributed to VPF is to save tax. Now I read somewhere that the pension amount will attract tax since it is not 5years. I am planning to withdraw that amount. How much tax will be deducted on the said figures?
Was it just a waste contributing every month to save tax?
Thanks for your help.

From India, Bangalore
Pandhareyogesh
hi i am yogesh, i am working in MNC from last 3.5 yrs when i joined my Pf was deducted Rs. 780 on basic 4500,
but from last oct my pf is deducted 1054 on same basic
please can u help me for understanding this

From India, Pune
gopinath varahamurthi
176

In the instant case there is no certificate, full amount on account of PF will get refunded including pension benefits. Unless one completes 10 years service get the certificate towards pension (countable service) otherwise get the amount refunded.
From India, Arcot

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