Hi Seniors, I have a doubt bases on Calculation of Interest Rate 8.65%

Per Month Contribution:
Employee Share PF Contribution - Rs. 672
Employer Share PF Contribution - Rs. 206
Pension Contribution - Rs. 466

Even after 5 months of contribution I got below interest amount.

Interest Updated upto 31.03.2017

Employee Share Interest amount Rs.48
Employer Share Interest amount Rs.15
Interest Amount for Pension Contribution is Rs.0

Why no interest for Pension Contribution?

Kindly guide me for calculating Interest Amount.

Thank You.
4th August 2017 From India, Chennai
Ranjeetha.MP

Dear Ranjeetha MP,

Employer & employee shares in PF belongs to the Member. Hence when it is deposited with EPFO, they have to give interest to members. But members have no claim on pension fund. It is EPFO's property. Members can claim either pension or withdrawal benefit, as the case may be. It have no connection with the deposit; but depends upon the service, last drawn average salary etc.

Abbas.P.S
4th August 2017 From India, Bangalore
Dear Ranjeetha,
The interest calculation is shown in the attached sheet, as per details provided by you.
Mr. Abbas has already intimated you other details.
Thanks,
Vidyadhar Bhat
8th August 2017 From India, Pune

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File Type: xls EPF Interest calculation.xls (30.5 KB, 109 views)
 

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