MAHENDRA KUMAR HARSHA
Sub: Amendment to Inoperative EPF accounts
Respected Seniors,
With reference to above I would like to draw your kind attention towards the fact of Inoperative Accounts.Actually Inoperative Accounts holders means the person who has been expired, transferred or retired for the period of 36 months but has not withdrawn yet his P.F.ACCUMULATION are called Inoperative Accounts Holders. But at this instance I want to know about those Accounts where no transaction has been made since 36 months due to the suspension of work declared by company.Whether these Accounts fall under Inoperative Account? Please give your valuable comments on it.
Regards,
M.K.Harsha
,
From India, Calcutta
Sub: Amendment to Inoperative EPF accounts
Respected Seniors,
With reference to above I would like to draw your kind attention towards the fact of Inoperative Accounts.Actually Inoperative Accounts holders means the person who has been expired, transferred or retired for the period of 36 months but has not withdrawn yet his P.F.ACCUMULATION are called Inoperative Accounts Holders. But at this instance I want to know about those Accounts where no transaction has been made since 36 months due to the suspension of work declared by company.Whether these Accounts fall under Inoperative Account? Please give your valuable comments on it.
Regards,
M.K.Harsha
,
From India, Calcutta
Follow the advice of Mr. Chandok who is ex-commisioner in EPFO he will guided well.go through it. sumit
From India, Ghaziabad
252From India, Ghaziabad
Dear Friends,
Please see and read the contents of the Notification, Mr. Chandok has cleared about this. Once the transaction has stopped in PF account for the certain time(36 months) the account will be treated as inoperative account. If the employee transfer his account to another place or withdraw before that it will be closed.
Regards,
PBS KUMAR
From India, Kakinada
Please see and read the contents of the Notification, Mr. Chandok has cleared about this. Once the transaction has stopped in PF account for the certain time(36 months) the account will be treated as inoperative account. If the employee transfer his account to another place or withdraw before that it will be closed.
Regards,
PBS KUMAR
From India, Kakinada
Dear Mr. Harsha, in my opinion, where the accounts are not in operation because of the fault on the part of employer by not depositing the contributions, whether wages paid or not, such accounts can,t be treated as inoperative account as the employees will get the interest for the past period also as soon as defaulted amount is deposited by the employer or recovered by the PF Deptt. at any later stage. It is the duty of the RPFC to take on record such estt. as a defaulter till recovery of defaulted amount along with interest and damages.
A.K.Chandok
<link no longer exists - removed>
From India, Chandigarh
A.K.Chandok
<link no longer exists - removed>
From India, Chandigarh
Thanks Mr. Chandok for your valued opinion.
But sir, as per Amended Scheme as stated above I gone through the same. There is clearly mentioned in para 60 , 72(6) that the accounts of those employees who have been expired, retired/left, transferred to other organization and not made claim for withdraw/transfer their P.F.Accumulation since last 36 months will be treated as Inoperative Accounts and will not be Entitled for Further interest with effect from 01.04.2011.Here our employees are under Suspension of work and are not getting any type of wages. They are still on our roll as they have not been neither Expired, retired, left nor transfer to other organization. We are also not defaulter at all at any instance as we are submitting our monthly return of Essential employees who are on duty during the suspension of work wef 02.05.2008 So at this stage why our Employees who are under suspension of work will not get their interest on their accumulation? Please clarify the matter I am anxiously waiting your valuable reply.
Thanking you,
With Regards,
M.K.Harsha
Deputy Manager H.R.
From India, Calcutta
But sir, as per Amended Scheme as stated above I gone through the same. There is clearly mentioned in para 60 , 72(6) that the accounts of those employees who have been expired, retired/left, transferred to other organization and not made claim for withdraw/transfer their P.F.Accumulation since last 36 months will be treated as Inoperative Accounts and will not be Entitled for Further interest with effect from 01.04.2011.Here our employees are under Suspension of work and are not getting any type of wages. They are still on our roll as they have not been neither Expired, retired, left nor transfer to other organization. We are also not defaulter at all at any instance as we are submitting our monthly return of Essential employees who are on duty during the suspension of work wef 02.05.2008 So at this stage why our Employees who are under suspension of work will not get their interest on their accumulation? Please clarify the matter I am anxiously waiting your valuable reply.
Thanking you,
With Regards,
M.K.Harsha
Deputy Manager H.R.
From India, Calcutta
Dear Harsha ji,
I appreciate your curiosity in this matter.It is not clear to me as to since when the work is in suspension . Must not be more than three years and the matter must be pending before the concerned authority for adjudication.
I will advise you to pl. inform the position to the concerned RPFC SO AS TO KEEP THE MATTER ALIVE.
Chandok
From India, Chandigarh
I appreciate your curiosity in this matter.It is not clear to me as to since when the work is in suspension . Must not be more than three years and the matter must be pending before the concerned authority for adjudication.
I will advise you to pl. inform the position to the concerned RPFC SO AS TO KEEP THE MATTER ALIVE.
Chandok
From India, Chandigarh
Sri Chandok Ji,
Thanks a lot for sharing views.For your kind information pl be noted that our concern bearing P.A.Code No: WB/HLO/12388 is under suspension wef 02.05.2008 to till date.All employees who are under suspension of work are still on roll. They have been neither retired, transfer or expired .What will happen with their P.F.Accumulation?
Whether they will get intrest on their accumulation or not? Please clarify. As their P.F.accumulation is approx Rs 1.50 to 2 crors.
Thanking You,
M.K.HARSHA
From India, Calcutta
Thanks a lot for sharing views.For your kind information pl be noted that our concern bearing P.A.Code No: WB/HLO/12388 is under suspension wef 02.05.2008 to till date.All employees who are under suspension of work are still on roll. They have been neither retired, transfer or expired .What will happen with their P.F.Accumulation?
Whether they will get intrest on their accumulation or not? Please clarify. As their P.F.accumulation is approx Rs 1.50 to 2 crors.
Thanking You,
M.K.HARSHA
From India, Calcutta
Dear esteemed Friends
Thanks for your valuable update on the epf a/c transfer to inoperative account by the department.
In this regard please clarify me on the following situation.
a person retired in October 2014 after working for a period of 22.5 years & not applied for epf withdrawal or pension so far.It was advised that the EPF department would give up-todate interest for three years after retirement and after that the account shall be declared in-operative.
In line with this advice the retired employee has not applied for withdrawal or pension so far and intends to apply for withdrawal before completion of 3 years after retirement to enable him defray the same on the children marriage.
Please advise on this if it is OK to go this way or there is a chance of any problem whatsoever.However after the UAN log in it is seen that the interest is being updated by the EPF deptt for the last two years or so after the retirement.
Kindly advise on this to proceed accordingly for withdrawal,i,e whether it it would be ok to wait for three years after retirement.
looking forward to your valuable response.
with Kind Regards
K Bhatia
email at:
From India, Chennai
Thanks for your valuable update on the epf a/c transfer to inoperative account by the department.
In this regard please clarify me on the following situation.
a person retired in October 2014 after working for a period of 22.5 years & not applied for epf withdrawal or pension so far.It was advised that the EPF department would give up-todate interest for three years after retirement and after that the account shall be declared in-operative.
In line with this advice the retired employee has not applied for withdrawal or pension so far and intends to apply for withdrawal before completion of 3 years after retirement to enable him defray the same on the children marriage.
Please advise on this if it is OK to go this way or there is a chance of any problem whatsoever.However after the UAN log in it is seen that the interest is being updated by the EPF deptt for the last two years or so after the retirement.
Kindly advise on this to proceed accordingly for withdrawal,i,e whether it it would be ok to wait for three years after retirement.
looking forward to your valuable response.
with Kind Regards
K Bhatia
email at:
From India, Chennai
Dear Esteemed Friends
Thanks for your valuable update on the epf a/c transfer to inoperative account by the department.
In this regard please clarify me on the following situation.
a person retired in October 2014 after working for a period of 22.5 years & not applied for epf withdrawal or pension so far.It was advised that the EPF department would give up-todate interest for three years after retirement and after that the account shall be declared in-operative.
In line with this advice the retired employee has not applied for withdrawal or pension so far and intends to apply for withdrawal before completion of 3 years after retirement to enable him defray the same on the children marriage.
Please advise on this if it is OK to go this way or there is a chance of any problem whatsoever.However after the UAN log in it is seen that the interest is being updated by the EPF deptt for the last two years or so after the retirement.
Kindly advise on this to proceed accordingly for withdrawal,i,e whether it it would be ok to wait for three years after retirement.
looking forward to your valuable response.
with Kind Regards
K Bhatia
email at:
From India, Chennai
Thanks for your valuable update on the epf a/c transfer to inoperative account by the department.
In this regard please clarify me on the following situation.
a person retired in October 2014 after working for a period of 22.5 years & not applied for epf withdrawal or pension so far.It was advised that the EPF department would give up-todate interest for three years after retirement and after that the account shall be declared in-operative.
In line with this advice the retired employee has not applied for withdrawal or pension so far and intends to apply for withdrawal before completion of 3 years after retirement to enable him defray the same on the children marriage.
Please advise on this if it is OK to go this way or there is a chance of any problem whatsoever.However after the UAN log in it is seen that the interest is being updated by the EPF deptt for the last two years or so after the retirement.
Kindly advise on this to proceed accordingly for withdrawal,i,e whether it it would be ok to wait for three years after retirement.
looking forward to your valuable response.
with Kind Regards
K Bhatia
email at:
From India, Chennai
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EPF New Amendment.pdf