I have downloaded PF passbook and found that interest for the year 2017-2018 has not been credited on 31 March 2018. When is this amount credited?
If I withdraw my PF now before interest is credited, will I lose the interest for one year?
From India, Mumbai
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4If I withdraw my PF now before interest is credited, will I lose the interest for one year?
From India, Mumbai
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Dear Anamika, Please don’t be in a hurry.Circular for crediting interest for FY 2017-18 is not yet released.Please wait for some time
From India, New Delhi
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From India, New Delhi
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Interest is credited as on 31 Mar 2018 on completion of F/Y 2017-18. My PPF a/c has been updated and credited with interest for previous F/Y. Check with the bank.
From India, Pune
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From India, Pune
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The question relates to EPF and not PPF. Yes, the interest has not yet been credited in EPF for the FY 2017-18
From India, Delhi
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From India, Delhi
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The PF interest rate was decided early in the year 2017 for the financial year 2017-18. Therefore, the interest calculation should have automatically occurred and been credited on 31-Mar-18, similar to the PPF accounts with banks/post offices.
Why is this not happening with EPF? Does this mean the government does not have enough funds yet?
From India, Bengaluru
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Why is this not happening with EPF? Does this mean the government does not have enough funds yet?
From India, Bengaluru
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The EPF interest for the FY 2017-18 was decided by the GoI only on 22nd Feb 2018 to be at 8.55% (from the earlier rate of 8.65% for 2016-17). Once the announcement is made, the EPFO calculates the interest and applies it to all the accounts, which is normally completed by April. However, you will see the entry backdated as 'March' in the EPF Passbook.
Not sure what is happening this year, as the interest has not yet been credited to the members' accounts even after 2 months from the announcement of the rate.
From India, Delhi
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Not sure what is happening this year, as the interest has not yet been credited to the members' accounts even after 2 months from the announcement of the rate.
From India, Delhi
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Latest:
The Central Board of Trustees (the apex decision-making body of EPFO), headed by the Labour Minister, has decided (in a meeting held on 21 Feb 2018) on an interest rate of 8.55% for the FY 2017-18. However, this decision has not yet been approved by the Ministry of Finance, resulting in a delay in disbursing the interest for the FY 2017-18. The Ministry of Finance is expected to provide approval at any time this week.
From India, Delhi
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The Central Board of Trustees (the apex decision-making body of EPFO), headed by the Labour Minister, has decided (in a meeting held on 21 Feb 2018) on an interest rate of 8.55% for the FY 2017-18. However, this decision has not yet been approved by the Ministry of Finance, resulting in a delay in disbursing the interest for the FY 2017-18. The Ministry of Finance is expected to provide approval at any time this week.
From India, Delhi
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EPF interest not credited until 22nd May '18. All these years, it was happening before April contribution itself. Why so much delay and uncertainty this year? I am facing another issue - I deposited back the excess withdrawal PF amount in Sept '17 itself, but so far it is not showing in my Passbook. I am afraid of how poorly PF is managed!
From India, Bengaluru
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From India, Bengaluru
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EPF Interest for FY 2017-18
Yes, the EPF interest for FY 2017-18 has not yet been credited as the rate (8.55%) was finalized very late by the EPFO. To make matters worse, the same was not approved by the MoF in time (Karnataka elections were cited as one of the reasons!), and there is no news yet if it has been approved. It is unfortunate that even after 2 full months, the interest has not been added to the accounts; not sure how many EPF members were adversely affected by this inordinate delay.
Excess Withdrawal Deposited into EPF Accounts
As for your excess withdrawal deposited into EPF accounts not being accounted for, do get in touch with your respective EPF office in person and try to sort things out. Alternatively, raise a complaint with the concerned regional office.
From India, Delhi
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Yes, the EPF interest for FY 2017-18 has not yet been credited as the rate (8.55%) was finalized very late by the EPFO. To make matters worse, the same was not approved by the MoF in time (Karnataka elections were cited as one of the reasons!), and there is no news yet if it has been approved. It is unfortunate that even after 2 full months, the interest has not been added to the accounts; not sure how many EPF members were adversely affected by this inordinate delay.
Excess Withdrawal Deposited into EPF Accounts
As for your excess withdrawal deposited into EPF accounts not being accounted for, do get in touch with your respective EPF office in person and try to sort things out. Alternatively, raise a complaint with the concerned regional office.
From India, Delhi
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February contribution and the interest of annual year 2017-18 both are not showing in my passbook.. What’s the reason behind it..??
From India, Patna
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From India, Patna
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Interest is not credited to anyone for FY 2017-18. But, if your February contribution is not appearing in your passbook, then there is a mistake in updating: please visit your nearest EPF office and get that clarified. Or you can write to uanepf@epfindia.gov.in or call 1800118005.
From India, Delhi
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From India, Delhi
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Hi, the interest is not yet credited to the account. does any one have an idea as to when will it get credited and how much time does it take to withdraw the amount
From India, Kolkata
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From India, Kolkata
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No one knows when the interest will be credited to individual accounts.
As far as the time taken for withdrawal of the amount, if you submit the request online at UAN's website (https://unifiedportal-mem.epfindia.gov.in/memberinterface/), you will get the amount in your bank in a week's time.
Regarding the details as to when one can withdraw, how much, etc., please read at https://cleartax.in/s/epf-withdrawal-online
From India, Delhi
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As far as the time taken for withdrawal of the amount, if you submit the request online at UAN's website (https://unifiedportal-mem.epfindia.gov.in/memberinterface/), you will get the amount in your bank in a week's time.
Regarding the details as to when one can withdraw, how much, etc., please read at https://cleartax.in/s/epf-withdrawal-online
From India, Delhi
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I got to know that in order to withdraw online, the ex-employer needs to update our PF portal with the date of joining and leaving the organization. Is it true? If yes, what is the other way to withdraw the same as my ex-employer is not updating it, and he wants me to submit the papers physically.
From India, Kolkata
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From India, Kolkata
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Update on EPF interest for 2017-18:
Only yesterday (Friday, 25th May 2018), the Government approved the payment of 8.55% as the interest for the FY 2017-18. EPFO has already instructed the offices to credit the interest into individual accounts. My assumption is that this should reflect in the passbook within a week's time from now.
From India, Delhi
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Only yesterday (Friday, 25th May 2018), the Government approved the payment of 8.55% as the interest for the FY 2017-18. EPFO has already instructed the offices to credit the interest into individual accounts. My assumption is that this should reflect in the passbook within a week's time from now.
From India, Delhi
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If we claim for withdrawal now as in today, will we get the interest amount due for 2017-18 at the time of settlement as it is still not showing in our passbook?
From India, Kolkata
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From India, Kolkata
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The government took its own sweet time due to red tape and laziness to approve the interest rate. Some papers reported this delay was due to election code!! Can you believe it? The interest credit should happen on 31-Mar every year just like bank interest. Why would the election code come in between?
From India, Bengaluru
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From India, Bengaluru
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It is now 7th June and the interest is still not appearing in the PF passbook.
From India, Bengaluru
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From India, Bengaluru
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If i withdraw the pf amount today will i get the interest due for 2017-2018 at the time of settlement.??
From India, Kolkata
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From India, Kolkata
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Hi All, I would like to inform you that, EPF interest of year 2017-18 has been credited in EPF account as I checked my PF account. Check now.
From India, Delhi
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From India, Delhi
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The interest for FY 2017-18 has not yet been credited into the account. The monthly contribution for June '18 has been updated, though. Not sure why this is taking so much time to credit the interest into the respective accounts... Of course, that is how a government office functions...
From India, Delhi
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From India, Delhi
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I transferred my old PF amount to a new PF account, so it has been done and also reflecting EPF interest of 2017-18. I'm sure about my PF account that EPF interest of 2017-18 has been credited in my PF account.
From India, Delhi
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From India, Delhi
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Hi All, The interest for FY 2017-18 is not reflecting in my PF passbook yet. If i put a request for withdrawal of PF will my interest be paid now or will it remain pending. Please help. Regards
From India, Ludhiana
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From India, Ludhiana
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Hi All, The interest for FY 2017-18 is not reflecting in my PF passbook yet.
From India, Pune
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From India, Pune
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It’s 5th July, 2018, and interest is not credited yet in my EPF account. Anyone else received the interest?
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The interest for FY 2017-18 is not reflecting in my PF passbook. If i withdraw a PF amount means afterthat whether they will put interest for FY 2017-18 or not. Please anyone clarify me.
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We are sitting on 10th of July and i still don’t see my interest for EPF reflecting for the year 2017 - 18. Any idea as to when would it be credited.
From India , Delhi
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From India , Delhi
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Still EPF interest not credited in passbook on 31 march 2018 I want to Withdraw total money what can do Plzzzzzz any one Suggest me
From India, Hyderabad
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From India, Hyderabad
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We are already on July 12th 2018 and the EPF interest is not visible in the account. Can somebody help with the escalation process in the Government for the delay
From India, Bhopal
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From India, Bhopal
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I was also waiting for PF interest not credited for 2017-18 Year. Please let me know when it will be credited in this year only ?
From India, Bengaluru
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From India, Bengaluru
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Per last interaction with EPFO office, July 23rd is supposedly the day when the interest will be credited. Fingers crossed.
From India, Delhi
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From India, Delhi
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Its July 24, 3pm. I still dont see the interest credited yet. Did anyone else received ?
From Israel, Tel Aviv
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From Israel, Tel Aviv
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Its July 24, 3.30pm. I have a doubt, it is almost 4 months late in crediting interest. So will we get the interest on this 4 months interest in the next year?
From United States, Plymouth
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From United States, Plymouth
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Still, I don't see interest credit. Could someone clarify if the interest will be credited with backdate (31-March-2018)? If not, what will happen to the interest (of the interest) for the four months in the current year.
From India, Chennai
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From India, Chennai
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I am also withdrawing PF but interest for 2017-18 is not credited, I have already applied, do EPFO will settle my claim along with interest or without interest
From India, Shimla
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From India, Shimla
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This happens every year. EPF body takes 5-6 months to credit the interest for previous. Although, there is no financial loss to individual because the entries are posted later on past date but mental agony of not finding it for 5 -6 months is there. Even in the era of digitisation where such calculation can happen in a click of a button , it's difficult to understand the reason other than the red tape of the Govt organisation
From India, Delhi
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From India, Delhi
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I tried the EPFO page on Facebook to get details of when they are crediting interest. They provided this email ID to contact: <employeefeedback@epfindia.gov.in>.
I have emailed them, and they replied as follows:
Dear Sir,
The software for updating interest is under development and testing, and it will be available soon. However, if you prefer to claim the same, it will be settled with up-to-date interest.
Regards,
Helpdesk34
From Israel, Tel Aviv
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I have emailed them, and they replied as follows:
Dear Sir,
The software for updating interest is under development and testing, and it will be available soon. However, if you prefer to claim the same, it will be settled with up-to-date interest.
Regards,
Helpdesk34
From Israel, Tel Aviv
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I am too having same issue. This is 31July2018 but still EPF interest not created for Mar2018. Have any one else got the interest by now ? Thanks
From India, Ahmedabad
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From India, Ahmedabad
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Please download the PDF from the following link: [URL](https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&u act=8&ved=2ahUKEwiFz7yshcfcAhXJL48KHQ8gCE0QFjAAegQ IABAC&url=https%3A%2F%2Fepfindia.gov.in%2Fsite_doc s%2FPDFs%2FCirculars%2FY2017-2018%2FNDC_AnnaulAcctsProcessing_16022018.pdf&usg= AOvVaw2EtNLKrkLsyUmKM30I1ys8).
As stated in this document, until the testing of the new software development is done, no annual accounts processing (for us, it is crediting annual interest) will be done. Only God knows when it will be done (after all, it's a government project). Fingers crossed.
From India, Bengaluru
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As stated in this document, until the testing of the new software development is done, no annual accounts processing (for us, it is crediting annual interest) will be done. Only God knows when it will be done (after all, it's a government project). Fingers crossed.
From India, Bengaluru
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PF interest credited to our account is only a number that shows up in the PF passbook. They responded back to me, mentioning that they are upgrading their systems, and due to technical glitches, they are unable to credit the due amount into individual accounts.
For those who are withdrawing it, the interest will be added to their account for FY17-18, so there is no need to worry.
Hope this helps.
From India, Chennai
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For those who are withdrawing it, the interest will be added to their account for FY17-18, so there is no need to worry.
Hope this helps.
From India, Chennai
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Today 2nd August 2018!
I still do not see the EPF interest credited on my passbook!!!
It's been 5 months already and seems no one from the govt or EPFO has come forward to address the genuine concern from working class.
This is absolute pathetic state of affairs !!
Regardless of the system updation - what's taking so long to add the entry into passbook !!
From India, New Delhi
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I still do not see the EPF interest credited on my passbook!!!
It's been 5 months already and seems no one from the govt or EPFO has come forward to address the genuine concern from working class.
This is absolute pathetic state of affairs !!
Regardless of the system updation - what's taking so long to add the entry into passbook !!
From India, New Delhi
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In August 2018, still of interest is not updated. I want to withdraw as soon as possible. The central government has approved crediting 8.55% interest in April 2018. It has been 4 months, and still, nothing has been done. Even though the government has upgraded many systems to digital processes, there are still delays made by them.
From India, Jalalpur
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From India, Jalalpur
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EPFO office shall come out with a clear-cut opinion on the delay to EPFO members. It is surprising that even after 4 months, interest has not been credited. What does this mean?
It is the responsibility of the department to ensure 10 crore subscribers. It shows the commitment of the department.
From India, Bengaluru
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It is the responsibility of the department to ensure 10 crore subscribers. It shows the commitment of the department.
From India, Bengaluru
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I have applied for withdrawal on 7th August. I see interest is updated for 31st March 2018 and 31st March 2019 as well (calculated prorated) and now shows the balance as zero. Still waiting for the payment.
From Israel, Tel Aviv
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From Israel, Tel Aviv
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Dear Member,
The software for updating interest is under development and testing, and it will be available soon. However, if you prefer to claim, the same will be settled with up-to-date interest.
Regards,
HELPDESK-14
From India
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The software for updating interest is under development and testing, and it will be available soon. However, if you prefer to claim, the same will be settled with up-to-date interest.
Regards,
HELPDESK-14
From India
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I have applied for partial withdrawal on 9th Aug. But shows in the statement. Claim status shows 'Under procrss'. Nothing in PF statement.
From India, Delhi
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From India, Delhi
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i am not reciveved PF intrest in account till date 27/08/2017, So please confirmed what time taken for credit intrest in member account.
From India
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From India
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Hi All, It’s 27th August 2018. Still interest is not credited for me. Anyone, can you please comment whether you got it credited or not. Thank You.
From India, Chennai
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From India, Chennai
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No interest paid till date for 2017-18. I have applied for partial withdrawal on 9th Aug. Still Claim status shows 'Under process'. Nothing in PF statement.
From India, Delhi
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From India, Delhi
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Finally, PF interest for FY 2017-2018 is added. It wasn’t there yesterday, but is reflecting today!
From India, Chandigarh
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From India, Chandigarh
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My EPF Regional office is in Bengaluru. Still i could not see the interest for 17-18
From India, Delhi
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From India, Delhi
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It’s September & the Interest doesn’t seem to have been credited as yet. What kind of Digital India are we talking of....
From India, Bhopal
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From India, Bhopal
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Its unbelievable that the interest for 2017-18 is still not credited 5 months after end of financial year.
From Canada, Toronto
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From Canada, Toronto
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Hi All,
I just checked the PF interest for FY 2017-18, and it has still not been credited. It was supposed to be credited on 31-03-2018. Is this happening for all locations across the rest of India, or is it only in Mumbai?
Location: Mumbai Bandra PF office
Thank you.
From India, Mumbai
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I just checked the PF interest for FY 2017-18, and it has still not been credited. It was supposed to be credited on 31-03-2018. Is this happening for all locations across the rest of India, or is it only in Mumbai?
Location: Mumbai Bandra PF office
Thank you.
From India, Mumbai
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My EPFO regional office is in BAngalore. But i could not see interest in passbook for 2017-18
From India, Delhi
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From India, Delhi
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PF Interest not credited till 7 September 2018. Will I ever get this?
From United States, Jersey City
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From United States, Jersey City
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I had applied PF advance on 9th Aug, On 7th Sep, EPF account was showing Claim settled.Today i got Advance credited to my bank account. But EFP passbook still not showing the interest for 2017-18.
From India, Delhi
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From India, Delhi
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My EPFO regional office is in BAngalore. But i could not see interest in passbook Post April 2018. Please update on this
From India, Bengaluru
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From India, Bengaluru
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First time in history, There will be no interest will be paid for 2017-2018. that is the decision taken today. I hope that they should reconsider the decision.
From India, Delhi
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From India, Delhi
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Dear all,
Please refer to the link below for more updates on the EPFO interest credit for FY 2017-18: https://www.timesnownews.com/busines...delayed/283354.
Thank you.
From India, Mumbai
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Please refer to the link below for more updates on the EPFO interest credit for FY 2017-18: https://www.timesnownews.com/busines...delayed/283354.
Thank you.
From India, Mumbai
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Do you not think it is the first time that interest is not credited when it is September? All members have not received the interest. All people may get interest only by the end of the year as per the Times of India link above. More than 60% have not received it yet. Only a few lucky ones may have received it!
From India, New Delhi
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From India, New Delhi
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First of all, it doesn't even matter if the interest is showing on your passbook or not. Even if it is not showing on the passbook, and you try to withdraw money from your PF account, you will receive interest till date. The update on the passbook is only academic.
Secondly, if it will show on the passbook for everyone by the end of the year, how does this statement get justified? "There will be no interest paid for 2017-2018. That is the decision taken today."
From India, undefined
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Secondly, if it will show on the passbook for everyone by the end of the year, how does this statement get justified? "There will be no interest paid for 2017-2018. That is the decision taken today."
From India, undefined
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I had withdraw partial 4L from account but still not showing interest for 2017- 18.
From India, New Delhi
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From India, New Delhi
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Hi All, Just checked EPFO passbook and found PF interest credited entry for FY 2017 -18 Do check yours... Regards Amit Mumbai
From India, Mumbai
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From India, Mumbai
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It's the end of September, and the interest for PF has still not credited to my account. Is there an update on this anymore? Is there anyone who has received this interest for FY 2017-18? I have tried calling the PF call center but cannot get through any day.
From India, Pune
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From India, Pune
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If you are withdrawing your PF, you will be credited the entire amount along with interest till date. I withdrew recently, and the interest till date was credited to my account, even though the same was not reflecting in my passbook before I requested for withdrawal.
From India, Kolkata
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From India, Kolkata
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Dear sagarwal, Please note that PF Interest is Credited for FY 2017-18 I.E FROM 01/04/2018 TO 31/03/2018, Not till date.For your information
From India, New Delhi
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From India, New Delhi
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Hi,
The indicated date of 30th Sep '18 has passed, yet the interest component still does not reflect in the Passbook. #AchcheDin ^_^
For more information, you can visit: [Economic Times - EPF Account Interest for FY 2017-18 Still Not Credited](https://economictimes.indiatimes.com/wealth/personal-finance-news/epf-account-interest-for-fy-2017-18-still-not-credited-heres-what-we-know-so-far/articleshow/65764703.cms)
From India, Bhopal
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The indicated date of 30th Sep '18 has passed, yet the interest component still does not reflect in the Passbook. #AchcheDin ^_^
For more information, you can visit: [Economic Times - EPF Account Interest for FY 2017-18 Still Not Credited](https://economictimes.indiatimes.com/wealth/personal-finance-news/epf-account-interest-for-fy-2017-18-still-not-credited-heres-what-we-know-so-far/articleshow/65764703.cms)
From India, Bhopal
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Hi,
Even though the indicated deadline of 30th Sep '18 has passed, the interest component is nowhere to be seen in the passbook. #AchcheDin ^_^
https://economictimes.indiatimes.com...w/65764703.cms
From India, Bhopal
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Even though the indicated deadline of 30th Sep '18 has passed, the interest component is nowhere to be seen in the passbook. #AchcheDin ^_^
https://economictimes.indiatimes.com...w/65764703.cms
From India, Bhopal
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Interest rates would get credited one day or the other, or at least for sure during withdrawal. The real problem is the lack of communication to the EPFO subscribers. Why are we paying administrative charges?
From India, Bengaluru
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From India, Bengaluru
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My Company’s head office is in Bengaluru. I had withdraw partial 4L from account but still not showing interest for 2017- 18.
From India, New Delhi
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From India, New Delhi
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Ditto for me. We are on 9th Oct, and I still haven't received the interest for the EPF account. On writing to them, they haven't given a specific date, but the only response was that annual accounts are being done, and the interest will be credited post that.
From India , Delhi
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From India , Delhi
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With great displeasure, I wanted everyone to know that my interest hasn't still been credited to my passbook despite writing to the officials about the same. Every time I write to them, I get the same answer of some annual accounts happening, and we are sitting today on 25 Oct 2018, and we don't have a revert. Now, this is a true example of "Ache din."
From India , Delhi
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From India , Delhi
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30th Oct also over, no interest credited in pass book. This seems like an endless wait
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Anyone from Hyderabad offices got their pf account updated with interest amount?
From United States, Kansas City
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From United States, Kansas City
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Looks like it's too much delay, more than 8 months, in crediting the PF interest for the year 2017-18. This is not acceptable whatsoever the reason - either a new software update, checking the validity of PF accounts, or whether they are active or not.
Delay is delay. The way the government deducts tax every month and the company pays to the Government of India, yet they ask us to file IT returns. If there is a delay, they start charging penalties. The government should be held accountable, and deadlines should be measurable.
This is a disgusting delay.
From United States
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Delay is delay. The way the government deducts tax every month and the company pays to the Government of India, yet they ask us to file IT returns. If there is a delay, they start charging penalties. The government should be held accountable, and deadlines should be measurable.
This is a disgusting delay.
From United States
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Gurgaon officers members get intrest credited or not till now??????
From India, New Delhi
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From India, New Delhi
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Chennai Office PF also not credited. Yes, this delay is disgusting. Govt is taking us for a ride....
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Hi Team, Any idea when the chennai office will post the interest in Indiviual account for FY 18-19. Thanks, Venkatanarayanan
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Dear Everyone,
Such a shame on EPFO... 14th Jan 2019, and when I check my PF passbook, the interest for 2017-18 is yet to be credited to my account. Location: Bangalore (EPFO - KR Puram branch). I have sent several emails as they never pick up their phone, but there has been no reply even to my emails. I hope the white-collared individuals get what is due to them.
Is there a way to raise a complaint on a mass basis? If yes, then please let me know.
Regards,
Gaurav
From India, Bengaluru
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Such a shame on EPFO... 14th Jan 2019, and when I check my PF passbook, the interest for 2017-18 is yet to be credited to my account. Location: Bangalore (EPFO - KR Puram branch). I have sent several emails as they never pick up their phone, but there has been no reply even to my emails. I hope the white-collared individuals get what is due to them.
Is there a way to raise a complaint on a mass basis? If yes, then please let me know.
Regards,
Gaurav
From India, Bengaluru
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I am also having PF account with Bangalore EPFO. Interest in my account get credited around 6-7 Nov 2018
From India, New Delhi
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From India, New Delhi
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In the first week of February, there is still NO credit of EPFO interest so far for 2017/18. In 2 months, we would have a pending due of 2 years. Twitter, Grievance, etc., have not provided any good lead so far. This is from the Gurgaon EPFO office.
From India, New Delhi
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From India, New Delhi
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Grievance raised again, and got the following reply (and they have closed the case) -
"Sir/Ma'am, it is to state that the details have been downloaded and forwarded to the concerned section. You will be informed as soon as the report is received."
The above is from the Gurgaon EPFO office.
From India, New Delhi
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"Sir/Ma'am, it is to state that the details have been downloaded and forwarded to the concerned section. You will be informed as soon as the report is received."
The above is from the Gurgaon EPFO office.
From India, New Delhi
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I am an employee of an unexempted organization under RPFC Rajkot, EPFO, since 1988. Whenever I download my Member Passbook, I could not find the interest in the passbook. It shows only Employee contribution and Employer contribution. How can I check the interest on the whole contribution? Somebody, please guide me.
From India
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From India
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You can check your Interest on your whole by below calculation: Total EPF contribution every month=Employee’s contribution towards EPF +Employer’s contribution towards EPF
From India, Mumbai
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From India, Mumbai
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My closing balance on 31st March 2018 was EE 3,49,579 and ER 1,97,283, for which interest credited on 31st March 2019 is EE 27,398 and ER 15,462. I am aware that the interest is not credited for the Year 2018-19. But I assume that interest is credited only because I have requested a balance transfer (on 15th June 2019) to the new employer's account.
I must appreciate the EPFO Kandivali2 for making the quick transfer, but I noticed that the interest is paid out at 7.84% instead of the declared 8.65%. Can somebody explain if:
Is this an interim interest payout or is it the final?
If final, then why the lesser payout?
Note: I have made no withdrawals or deposits in the last two financial years, and for the financial year 2017-18, the interest payout is calculated correctly at the declared rate of 8.55%.
From India, Mumbai
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I must appreciate the EPFO Kandivali2 for making the quick transfer, but I noticed that the interest is paid out at 7.84% instead of the declared 8.65%. Can somebody explain if:
Is this an interim interest payout or is it the final?
If final, then why the lesser payout?
Note: I have made no withdrawals or deposits in the last two financial years, and for the financial year 2017-18, the interest payout is calculated correctly at the declared rate of 8.55%.
From India, Mumbai
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It's July and still, the EPF interest amount has not been credited. They have failed to process the deposit for the 2018-19 interest amount like they did for 2017-18. I don't understand why we have automation in place then.
From United States, Kansas City
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From United States, Kansas City
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Hi All,
Last year for FY 2017-18, PF interest got credited on 24th September 2018 (instead of March 2018, Mumbai area). Now it's FY 2018-19, and we are in the middle of July 2019, but PF interest is still not credited. Whom to blame? I think the government is still calculating it.
Regards,
Amit
From India, Mumbai
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Last year for FY 2017-18, PF interest got credited on 24th September 2018 (instead of March 2018, Mumbai area). Now it's FY 2018-19, and we are in the middle of July 2019, but PF interest is still not credited. Whom to blame? I think the government is still calculating it.
Regards,
Amit
From India, Mumbai
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So it's almost September 2019 now, and the interest for FY 2018-19 has not yet been credited. In this digitized era, I would expect it should have been in by 31st March 2019 or at least sometime in April. Last year's interest got credited only in January 2019 with a backdated March 2018 entry.
Anyway, the question is: if every month the interest is calculated on the balance available in the account for that month, wouldn't we get lesser interest due to this amount not being credited on time? In the above example, since I got the 2017-18 interest only in January 2019, the base amount is lesser by that much, and so would I have lost the extra interest from April 18 - December 18 calculation? Does anyone know exactly how this calculation is done?
From India, Salem
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Anyway, the question is: if every month the interest is calculated on the balance available in the account for that month, wouldn't we get lesser interest due to this amount not being credited on time? In the above example, since I got the 2017-18 interest only in January 2019, the base amount is lesser by that much, and so would I have lost the extra interest from April 18 - December 18 calculation? Does anyone know exactly how this calculation is done?
From India, Salem
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Circular_ESIC_M aternity Benefit_23 March 2018.pdf