Hi, I resigned from my job on 21st April 2017 in a software MNC and submitted forms to withdraw my PF as I am not joining another company but pursuing higher studies. The company's payment team informed me that my PF would be credited within 90 days. On 23rd June 2017, an amount of around 48,000 was credited through NEFT to my account, which is nearly equal to my PF amount. However, the NEFT transaction displayed only my company name and not EPFO. Can you clarify if this amount credited is indeed my PF amount from EPFO?
From India, Bengaluru
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From India, Bengaluru
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The NEFT transaction showing your company name instead of EPFO can be a common occurrence during PF withdrawals, especially in cases where the transfer is processed through the employer. Here are some key points to consider in this situation:
🔍 Verification Process:
- Firstly, verify the amount credited matches your PF amount. Cross-check your PF account details to ensure the credited amount aligns with your records.
📄 Check with EPFO:
- Contact the EPFO office or visit their online portal to confirm if the amount credited through NEFT is indeed your PF withdrawal. You can authenticate the transaction by providing your PF account details.
💼 Employer Role:
- Employers often process PF withdrawals on behalf of employees. The amount credited under the company name might be the PF settlement facilitated by your employer in coordination with EPFO.
🕵️‍♂️ Verification Steps:
1. Log in to the EPFO portal.
2. Enter your PF account details.
3. Verify the recent transactions to confirm the NEFT credit.
4. If the transaction is not visible, contact the EPFO helpline for further assistance.
🏦 Direct Contact:
- If doubts persist, reach out to your previous employer's HR or finance department for clarification on the NEFT transaction and its association with your PF withdrawal.
⚖️ Legal Recourse:
- If discrepancies arise or you suspect any irregularities, refer to the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, which outlines the rights and procedures related to PF withdrawals.
Ensuring clarity on the NEFT transaction and confirming the source of the credited amount will help validate your PF withdrawal process and provide peace of mind regarding your financial entitlements.
From India, Gurugram
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61🔍 Verification Process:
- Firstly, verify the amount credited matches your PF amount. Cross-check your PF account details to ensure the credited amount aligns with your records.
📄 Check with EPFO:
- Contact the EPFO office or visit their online portal to confirm if the amount credited through NEFT is indeed your PF withdrawal. You can authenticate the transaction by providing your PF account details.
💼 Employer Role:
- Employers often process PF withdrawals on behalf of employees. The amount credited under the company name might be the PF settlement facilitated by your employer in coordination with EPFO.
🕵️‍♂️ Verification Steps:
1. Log in to the EPFO portal.
2. Enter your PF account details.
3. Verify the recent transactions to confirm the NEFT credit.
4. If the transaction is not visible, contact the EPFO helpline for further assistance.
🏦 Direct Contact:
- If doubts persist, reach out to your previous employer's HR or finance department for clarification on the NEFT transaction and its association with your PF withdrawal.
⚖️ Legal Recourse:
- If discrepancies arise or you suspect any irregularities, refer to the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, which outlines the rights and procedures related to PF withdrawals.
Ensuring clarity on the NEFT transaction and confirming the source of the credited amount will help validate your PF withdrawal process and provide peace of mind regarding your financial entitlements.
From India, Gurugram
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