Bijay_majumdar
Freelancer In Hr &indirect Taxes For
Glidor
Hr Consultant
+1 Other

I recently submitted form 19A and 10C for EPS (Pension Contribution) withdrawal. The total amount in my EPS (Pension Contribution) Column is Rs. 51,264.00. However, my claim has been settled for only Rs. 35391.00
Is this an error or is there a reason behind this? I have submitted form 15H.
My passbook shows as follows:
Employee Share: 79,718.00
Employer Share: 24,517.00
Pension Contributions: 51,264.00
Years employed: 4 Years and 4 Months
Date of leaving 02-Nov-2020. Date of filing form 19A and 10C 05-Jan-2020
Date of settlement for Form 10C 07-Jan-2020
What could be the reason for this?
Thank You,


Eps withdrwal is subject to condition of number of years of service upto 10 years. Calculation is based on the propertionate index against that year x eps wage last drawn.
From India, Vadodara
Service is 4 Years and 4 Months in all. I did not have EPF or EPS before 01-July-2016. Should I not have got the full amount of 51264.00?

Ok. I understood what you've said. Is there a way I can get the difference amount of 15873.00 back?
51,264.00 as per passbook
35391.00 as per claim
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15873.00 difference can it be withdrawn somehow?
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TDS will be deducted in respect of the following cases:
 If employee withdraws amount more than or equal to Rs. 30000/-, with service less than 5 years, then
a) TDS will be deducted @ 10% if Form-15G/15H is not submitted provided PAN is submitted.
b) TDS will be deducted @ maximum marginal rate (i:e. 34.608%) if employee fails to submit PAN.
https://epfindia.gov.in/site_docs/PD...ctions_Eng.pdf


This is for EPF. For EPF form 15H was submitted and PAN number is updated at the time of joining itself. The difference is in EPS amount. Still cannot make out why this has happened.

both epf and eps claims needs separate form 15G/15H please check at your end as the service period is less than 5 years so without TDS it would not be able to settle the claim,
if the balance is still displaying in your passbook, then contact the office for submission of requisite exemption forms for reduced TDS


I received the amount of 35391.00 a few minutes ago in my Bank Account. Claim was submitted on 05-Jan-2020, and amount got on 08-Jan-2020. Im surprised with the speed it is settled, but the difference amount still puzzles me. I did not find any option to upload form 15G/H when submitting 10C.

EPF/EPS contributions are exempt under section 80C(chapter 6A) of income tax act, and have an lock in period of 5 years,
if the amount is withdrawn before completion of 5 years, it reflects to deduct TDS as the same may have been claimed under exemption under income tax, department has to follow the guidelines of HO,
if we do not withdraw the money for 3-4 more months and let it get 5+ years from the date of joining, then it get auto exempt, however the member has their own choice to withdraw or retain,
if the balance amount is still available in passbook, then it is time to hurry up and contact with fresh 15G/H and ask for reduced rate of deduction and obtain TDS certificate to reclaim the amount in their Income tax return to be filed
as the query does not mention that form 19 is settled fully or not, it is assumed that department has deducted 10% on whole balance available, as it is filed to withdraw before completion of 5 years hence the benefits of section 80C is getting taxable under incometax


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