Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Hi,
I am really thankful for a quick response of my query. However I need further more clarification on part B and C
If Basic Salary is Rs.1206/per month then
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)
  • How did it 7980(i.e. 665*12) and 6492 (i.e. 541*12) calculated and what percentage applied to calculate this?
if Total amount in PF will be (A+B) or (14472+7980) that should be (22452) and interest ; then the amount received for Employee provident fund is not correct i.e. 21518 as interest is not included in it.[/LIST]If it is correct then How it was calculated?
  • If not then what should be the actual amount for provident fund including the interest?
What is the rate of interest for PF A/C? Is it compound or simple?
Thanks and regards,
Kanchan

From India, Delhi
Hi,
Greetings for the day!
Once you give me details of your deposited amount against employee’s PF contribution and employer’s contribution, I will explain you accurate calculation with amount.
Calculation of EPS is on salary ceiling limit of Rs.6500/- per month and maximum EPS contribution on the ceiling is Rs.541/- per month.
In your case, your monthly PF is Rs. 1206/-
Then employers monthly PF and EPS will be :
Rs. 665/- and Rs. 541/- (i.e. 665+541=1206)
If your employer is contributing as per ceiling limit then
Employer’s monthly PF and EPS on Rs.6500/- will be:
Rs. 239/- and Rs. 541/- (i.e. 239+541=780)
With Regards,
P.C. Lohar

From India, Sirohi
[With reference to the last email by Nundun Negi for my PF A/C? TN/TAM/30027/24240 I have send a request for E-passbook to EPF Office. I have send this request on 18/08/2012. However it is still pending. Can I send a reminder to them. If yes them tell me the procedure.

I also contact with my company’s shared service and according to them my contribution to Employe Provident fund is R.s 22378 and it is Rs. 860 less then the actual amount credited i.e (14472+7980) or 12% of employee and 3.67% of employer; as deduction from r My basic Salary i.e. Rs. 1206/PM.

The detail provided by company’s shared service for contribution is given in the file attached

Hence it is quite clear from the given data that in the amount received( Rs. 21518) Rs. 860 is less from the actual contribution and no interest was paid by the EPF office for this account.

So please let me know what I need to do receive the remaining balance including interest from EPF office.

Please also Let me know what Should be the actual amount including the interest if contribution is Rs. 22378.

From India, Delhi

Attached Files
File Type: xls Copy of Kanchan contribution details.xls (23.0 KB, 107 views)

Hi,
Greetings for the day!
On the basis of your details, I try to understand your PF settlement (pl see attach sheet). To obtain final result of calculations, I need some more informations from your end, which you may share.

From India, Sirohi
Hi,
Thanks for solving my query. The copy of file for contribution to the PF provided by company's shared service is attached here for your review. Please check the attachment and let me know what should be the actual amount I suppose to receive. I had filled a request for E-passbook on 18/08/2012. It is still pending from PF office. Can I send a reminder for it? If yes then How?
What I need to do to get the remaining balance from EPF Office. Please suggest.
Regards,
Kanchan

From India, Delhi

Attached Files
File Type: xls Copy of Kanchan contribution details.xls (23.0 KB, 65 views)

Hi,
Greetings for the day!
If ur claim settled in the m/o JULY-2012, then, total EPF amount with interest will be Rs. 23,764/- (approx).
With regular reminder/follow-up (i.e. through e-mail and FAX) at your end. Positively, you will get advice from PF office to get your balance.
In above context, you may talk telephonic-ally directly to RPFC/APFC of the office.

From India, Sirohi
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™