Dear Friends,
Have you come accrossed any case law on payment of Interest for the In-operative PF Account for the period beyond 36 months. If so may I request you to please share copy of the same to my mail ID: lollasastry@covalentlab.com, as I have to get some PF interest for the In-operative PF Account for the period beyond 36 months from my previous Employer.
Regards,
L.V.Sastry
Mobile No: 09866077163.
Hyderabad.
From India, Hyderabad
Have you come accrossed any case law on payment of Interest for the In-operative PF Account for the period beyond 36 months. If so may I request you to please share copy of the same to my mail ID: lollasastry@covalentlab.com, as I have to get some PF interest for the In-operative PF Account for the period beyond 36 months from my previous Employer.
Regards,
L.V.Sastry
Mobile No: 09866077163.
Hyderabad.
From India, Hyderabad
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Employees' Provident Fund Organisation, India
(Ministry of Labour & Employment, Government of India)
EPFO Inoperative Account Help Desk
Dear Members,
Para 72(6) Employee Provident Fund Scheme 1952 defines an Inoperative account as follows:
Any amount becoming due to a member as a result of (i) supplementary contribution from the employer in respect of leave wages/arrears of pay, instalment of arrear contribution received in respect of a member whose claim has been settled on account but which could not be remitted for want of latest address, or (ii) accumulation in respect of any member who has either ceased to be employed or died [but no application for withdrawal under paragraphs 69 or 70 or transfer, as the case may be has been preferred] within a period of [thirty six months] from the date it becomes payable, or if any amount remitted to a person, is received back undelivered, and is not claimed again within a period of [thirty six months] from the date it becomes payable, shall be transferred to an account to be called the “Inoperative Account”.
Further, Para 60(6) Employee Provident Fund Scheme 1952 states that: ”Interest shall not be credited to the account of a member from the date on which it has become Inoperative Account, under the provisions of sub-paragraph (6) of paragraph 72.”
The e-governance initiatives of EPFO such as Online Registration of Establishment (OLRE), Online Transfer Claim Portal (OTCP), Online Monthly Return for Exemption Establishment, provision to update the accounts in batches have shown some data regarding the inoperative account holders. The number of such subscribers is in crores.
This help desk is being created to assist these members to trace their accounts, which the member then can get it merged with the present account (UAN) or withdraw the same.
All the persons who require such help are requested to give information as per fields mentioned in proforma created. You may leave fields blank if you do not have the information.
In order to get the benefit out of this facility the members are requested to provide correct contact along with email address, if available and only their own mobile number so that EPFO may easily contact them. In case a member does not have a mobile number then a mobile number where he/she may be easily contacted should be provided. Somebody from EPFO will get in touch with you personally in the language of your choice. In case there is no response on the registered mobile the case will be closed.
All members are urged to immediately get their UAN activated before applying for settlement of his/her PF Accounts, the process for which is available at uanmembers.epfoservices.in
Wish you the best in settling your inoperative account.
Regards
Central PF Commissioner
Dear Friend,
Your case seems to be perfectly operative from the point you are projecting as the account holder is known and the organisation where it claims are visible. There is no question of claiming interest from the employer for the account if you are cease to be an employer, as you are entitled to claim the amount from the date of cessation of service to the next employment. If you have completed 10 years of service better get pension benefits and epf amount separately credited into your bank account. Further, if you want to claim interest beyond 36 months you have to write to the commissioner of the respective regions about live of the account and not as inoperative. Above, is the version of inoperative account for your perusal and guidance. You will get the interest when it is merged to the new employer or you join into a new company with EPF benefits. Also, you will find an attachment for guidance.
From India, Arcot
175(Ministry of Labour & Employment, Government of India)
EPFO Inoperative Account Help Desk
Dear Members,
Para 72(6) Employee Provident Fund Scheme 1952 defines an Inoperative account as follows:
Any amount becoming due to a member as a result of (i) supplementary contribution from the employer in respect of leave wages/arrears of pay, instalment of arrear contribution received in respect of a member whose claim has been settled on account but which could not be remitted for want of latest address, or (ii) accumulation in respect of any member who has either ceased to be employed or died [but no application for withdrawal under paragraphs 69 or 70 or transfer, as the case may be has been preferred] within a period of [thirty six months] from the date it becomes payable, or if any amount remitted to a person, is received back undelivered, and is not claimed again within a period of [thirty six months] from the date it becomes payable, shall be transferred to an account to be called the “Inoperative Account”.
Further, Para 60(6) Employee Provident Fund Scheme 1952 states that: ”Interest shall not be credited to the account of a member from the date on which it has become Inoperative Account, under the provisions of sub-paragraph (6) of paragraph 72.”
The e-governance initiatives of EPFO such as Online Registration of Establishment (OLRE), Online Transfer Claim Portal (OTCP), Online Monthly Return for Exemption Establishment, provision to update the accounts in batches have shown some data regarding the inoperative account holders. The number of such subscribers is in crores.
This help desk is being created to assist these members to trace their accounts, which the member then can get it merged with the present account (UAN) or withdraw the same.
All the persons who require such help are requested to give information as per fields mentioned in proforma created. You may leave fields blank if you do not have the information.
In order to get the benefit out of this facility the members are requested to provide correct contact along with email address, if available and only their own mobile number so that EPFO may easily contact them. In case a member does not have a mobile number then a mobile number where he/she may be easily contacted should be provided. Somebody from EPFO will get in touch with you personally in the language of your choice. In case there is no response on the registered mobile the case will be closed.
All members are urged to immediately get their UAN activated before applying for settlement of his/her PF Accounts, the process for which is available at uanmembers.epfoservices.in
Wish you the best in settling your inoperative account.
Regards
Central PF Commissioner
Dear Friend,
Your case seems to be perfectly operative from the point you are projecting as the account holder is known and the organisation where it claims are visible. There is no question of claiming interest from the employer for the account if you are cease to be an employer, as you are entitled to claim the amount from the date of cessation of service to the next employment. If you have completed 10 years of service better get pension benefits and epf amount separately credited into your bank account. Further, if you want to claim interest beyond 36 months you have to write to the commissioner of the respective regions about live of the account and not as inoperative. Above, is the version of inoperative account for your perusal and guidance. You will get the interest when it is merged to the new employer or you join into a new company with EPF benefits. Also, you will find an attachment for guidance.
From India, Arcot
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PF - JT BK ACCOUNT ACCEPTABLE.pdf