actually you are saying right. But there are some rules :-
employee share which deducted from salary = 12%
employer share which paid = 12% or equal to employee share
so as per deduction total share is 24% but the 24% is divided in following ratio-
employee provident fund = ( employee 12% + 3.67% of employer share)
employee pension fund = remaining 8.33% of employer share. And as you know any employee can get the benefit of pension amount either by doing the job continuously in any account more than 9 years are after leaving the job.
So when you see your account balance at that time you are aliv employee and epf dept. Think that you will continue your job more than 9 years so you see in ee share only 12+3.67%. ( pension amount will be not display ). But if did not complete more tham 09 years and you left the job and claiming your epf than you will get24%.
Note if the service is less then 06 month then also you will not entitled for 24%, you will only 15.67%
From India, Rudarpur
From United States, Cambridge
The amounts which shows first amount if you are withdrawing with in 120 years of services you will get double amount or you will receive first amount + second amount the difference goes to pension fund, it will be repayable only after attain of 58 years
From India, Hyderabad
From India, Bengaluru
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