Greetings for the day!
Please note that if your PF deduction on your earned Basic Salary is Rs.1206/per month then
A) Your 12 months PF contribution will be - Rs. 14472 (i.e. 1206 X 12)
B) Employer's 12 months PF contribution will be - Rs. 7980 (i.e. 665 X 12)
C) Employer's 12 months EPS contribution will be - Rs. 6492 (i.e. 541 X 12)
Total amount in PF will be (A+B) and interest.
So please check your deposited amount with your ex-employer then you will be able to understand the calculation of received amount.
In my opinion your credited EPS amount of Rs.6630/- is correct, if your service is exact 1 year (i.e. 6500 X 1.02)
For any further queries, please feel free to communicate, I will be glad to assist you.
Asstt. Manager (HR & Admn)
16th August 2012 From India, Sirohi
Also confirm that if you have given full attendance every month by employer for every month & same reflects in the annual return Form-3A submitted by company mentioning there is "No" Non-Contributory period /Days(NCP) in Coloumn during the year. If some NCP is there, PF office surely reduce your amount according to their central rules. For that purpose, now they wants break certificate from Employers.
(HR Admin PPMS (p) Ltd)
17th August 2012 From India, Calcutta
The employee's subscription as well as employer's contribution is to be worked out @ 12% of one's basic pay + dearness allowance wherever applicable. Some employers who are CTC conscious, deduct employer's contribution from the employee's salary on the ground of cost to company agreed upon between them. Some employers restrict their contribution to the maximum ceiling of Rs.6500. Our aggrieved friend may please check up the actual amount of deductions from her salary and remittances to her EPF account with the concerned EPFO.
As regards reference to pension component, I have to add that pension component is only 8.33% of employer's contribution, subject to maximum of Rs.541 (8.33% of ceiling 6500). This is never given to the member except in the form of pension at the end of one's career or on reaching the age of 58 after completion of minimum 10 years of membership. Death of the member is exception to this rule. In the case of death of the member, the member's spouse (for life) and two children (till the age of 25) get pension. If some member quits membership before completion of prescribed period of ten years (except death), he / she loses pension component permanently. That is why I always insist that those who quit one job to take up new one, may opt for continuation of their current EPF account with the new employer instead of closing it. If it is not possible for some reason, one may consider the option of scheme certificate. The aggrieved friend may apply for issue of scheme certificate to her for her one year membership which may be used at the end of her career at 58 for enhanced pension then. Thanks & regards,
18th August 2012 From India, Pune
This doubt is with regards to My EPS withdrawal.
For the period from Nov 2013 - August 2014 my EPS was Rs 542/-P.M
From Sept 2014 - March 2015 my EPS was paid at Rs 620/-P.M
As I had resigned on 8th April 2015 my EPS was paid at Rs 276/-P.M
I would like to know my EPS amount, If I were to withdraw the same.
14th August 2015 From India, Chennai
I am working for a private company. I have resigned and by the relieved date I would complete my service in current company 9 Yrs 5months and 24 days. I wanted to know whether I need to extend my stay here for another 1 week so that I can eleigible for the pesnsion. If I am not able to extend my stay here what would be the loss for me as for as EPS is concerned. Please suggest
16th November 2015 From India, Bengaluru
#AnonymousI have joined in Nov'15.My basic + DA salary is 10000 k and my EPF deduction is (EE-1200 @12 % and ER-367 @3.67%),So only till August'16 month my EPF balance-12264 only showing in passbook but it should be Rs.15327 as per my calculation.
and in this only NOv'15 [EPF-(EE-1040+ ER-318)] and jan'16 [EPF-(EE-1103+ ER-330)] deducted as per salary slip due to leave and rest all month (EE-1200+ER-367) deducted shown both contribution as per EPFO passbook.
one more think in month on JUNE my EPF deducted but in EPFO passbook that month is missing (Me,& 2 friends)also when we all cross check passbook.
so please tell me if company given EPF @3.67 % then,are they contribute EPS@8.33% or not.
when I asked about to HR he said we paid June month EPF and all will check why its not adding.
and also asked why they contribute ER-3.67 %,he said pension scheme also contribute by them.
1.so how can I know about EPS amount?
2.are the contribute or not?
3.what document required for checking and connect with that EPS for future company contribution when I changed company.
23rd September 2016 From India, Chandigarh