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rajeevdixit
111

We have seen that when any employee leaves an organisation within six months of joining, he can withdraw his PF amount but his EPS amount is not given back to him saying that you have left the service within six months.
My question is if the amount of 8.33% (EPS ) is not given back to employee nor it goes back to employer then where does it go? How it is treated?

From India, Bangalore
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Apex Management
Labour Laws Consultants
Rajeevdixit
Hr , Personnel & Admin
+1 Other

Gurgaon HR
94

Dear Rajeev,
Provident fund organisation will keep 8.33% of the EPS amount in this situation and the amount will not go back to employer in any case.
Simple & Clear.
Chill HR
https://www.facebook.com/HRGang

From India, Gurgaon
rajeevdixit
111

Then where is goes is my question .
It does not go to employee nor to employer .
Regards
Rajeev Dixit

From India, Bangalore
Apex Management
157

Dear all,
In sum up, the EPS scheme of the EPFO is suffering deficit by way of paying out pensions to dependents and contributors and these forfeited amounts are adjusted into the EPS scheme. This is the main reason why the ceiling limit of Rs.6500/- is still not increased.
P K Sharma

From India, Delhi
Gurgaon HR
94

Dear Rajeev,
The funds will retain by the pf department for infrastructure development and for other similar purpose.
Chill HR
https://www.facebook.com/HRGang

From India, Gurgaon
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