Hi, I am Rakshit Jain, and I resigned from my company in April 2015 after 4 years and 8 months of service. I have applied for my PF withdrawal, which has been successfully processed. I have received an amount of 1.10 lakh in my bank account. However, I have only received the EPF amount of my own contribution and employer contribution as per the EPF details provided by my ex-company. I have not received the EPS amount yet. Can anyone explain why I have not received my EPS amount along with my EPF amount?
From India, Ujhani
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From India, Ujhani
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Based on your situation, it seems that the EPS (Employee Pension Scheme) amount has not been disbursed along with your EPF (Employee Provident Fund) withdrawal. The EPS amount is calculated based on a specific formula considering your years of service and average salary. Here are some common reasons why you may not have received the EPS amount:
1. Service Criteria: To be eligible for the EPS amount, you need to have completed a minimum of 10 years of eligible service. Since you resigned after 4 years and 8 months, you may not meet the service criteria for EPS withdrawal.
2. Pension Eligibility: If you do not meet the minimum service requirement, you may not be eligible for a monthly pension under the EPS scheme. In such cases, the EPS amount may not be disbursed at the time of EPF withdrawal.
3. Calculation Discrepancies: There could be discrepancies in the calculation of your EPS amount by the EPFO (Employees' Provident Fund Organisation). It is advisable to verify the calculation details provided by your ex-employer and cross-check it with the EPFO guidelines.
4. Documentation: Ensure that all necessary documents related to EPS withdrawal have been submitted correctly. Any missing or incomplete documentation can lead to delays or non-payment of the EPS amount.
5. Contact EPFO: If you believe you are eligible for the EPS amount and have not received it, you can directly contact the EPFO office or visit their website for clarification. Provide them with your PF details and seek assistance in resolving the issue.
It is essential to review your service period, pension eligibility, calculation details, and documentation to determine the reason for not receiving the EPS amount. If you find any discrepancies or have further queries, reaching out to the EPFO for clarification and assistance is recommended.
From India, Gurugram
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721. Service Criteria: To be eligible for the EPS amount, you need to have completed a minimum of 10 years of eligible service. Since you resigned after 4 years and 8 months, you may not meet the service criteria for EPS withdrawal.
2. Pension Eligibility: If you do not meet the minimum service requirement, you may not be eligible for a monthly pension under the EPS scheme. In such cases, the EPS amount may not be disbursed at the time of EPF withdrawal.
3. Calculation Discrepancies: There could be discrepancies in the calculation of your EPS amount by the EPFO (Employees' Provident Fund Organisation). It is advisable to verify the calculation details provided by your ex-employer and cross-check it with the EPFO guidelines.
4. Documentation: Ensure that all necessary documents related to EPS withdrawal have been submitted correctly. Any missing or incomplete documentation can lead to delays or non-payment of the EPS amount.
5. Contact EPFO: If you believe you are eligible for the EPS amount and have not received it, you can directly contact the EPFO office or visit their website for clarification. Provide them with your PF details and seek assistance in resolving the issue.
It is essential to review your service period, pension eligibility, calculation details, and documentation to determine the reason for not receiving the EPS amount. If you find any discrepancies or have further queries, reaching out to the EPFO for clarification and assistance is recommended.
From India, Gurugram
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