Confused About My PF Deductions and Balance for FY2009-10 – Can Anyone Help?

Respected Seniors,

An amount of Rs. 792/- @ 12% of my basic, i.e., Rs. 6600/-, was deducted by the employer for the months of Dec '09, Jan '10, and Feb '10 for FY2009-10.

As the PF office financial year starts from March, please advise me on what will be the last year's total balance amount for my PF account for the year ending Feb 2010.

Please help.

Regards,
Janmejay Kumar

Hi,

Calculate 0.66667% interest on every month's contribution, i.e., 15.67% of the basic salary (12 + 3.67). The total will be the balance. For any further clarification, email me.

Hi Janmejay,

Thank you, sir.

When I fill out the form for final settlement, I have to show the amount of Rs. 3123 in the column "Previous Balance" for the 3 months of December '09, January '10, and February '10.

Please clarify this as well.

Regards,
Janmejay

Dear Janmejay,

I am unable to understand the purpose of your seeking the total PF balance. If you need to know the balance in your PF account, you can quote your PF number and obtain this information from the concerned PF office. However, this is dependent on whether the employer has submitted the Annual returns (Form 3A & 6A).

If your employer has submitted the returns on time, your organization will be given an account slip in Form 23 for each PF member, and you are entitled to receive this slip. It will clearly reflect the amount outstanding in your account. Please note that the amount will only reflect the balance in your PF account and will not indicate the amount recovered towards the Pension account, as this is maintained in a corpus account by EPFO.

M.V. KANNAN

Without a PF number, you cannot know your balance. Check your payslip; I am sure that it would have mentioned the number. Otherwise, approach your HR and get your PF number. It's important to know your PF number. Please make a note of it.

Regards,
Babu

Thank you, Sir.

Please also advise on the interest amount. When I fill out the form after February 2011, the total amount in the Previous Balance column will be $4752.

Please advise whether I have to add EDIL and Administration Service Charges or not.

Regards,
Janmejay

Hi Janmejay,

Thank you, sir. Please also clarify while claiming for final settlement on 01.03.2011, the amount I have to fill in the column "Previous Balance" is Rs. 2376 + 753 + 1623 + interest. (i.e., the contribution by me + employer for Dec '09, Jan '10, & Feb '10). Please help.

Regards,
Janmejay

Sir,

My EPF No. GJ/15798/2. I am working in a Private firm and started PF from 1.3.87. The Pension scheme began in Nov. 95 when my salary was Rs. 2600/= per month. Currently, my PF contribution is a fixed amount of Rs. 650/= regularly for the past 3 years. I intend to resign from 1.9.10 at the age of 54.

Could you assist me in calculating the pension available to me and my EPF balance as of today? I tried to click on the website of - epfahmedabad.org, but nothing seems to be available. Please help me.

Thanks,
Mary

Dear Mr. Kushwaha,

5 types of accounts are involved in PF contributions:
- Account 1 for Employee
- Account 2 for PF Admin Charge
- Account 10 for Pension Fund
- Account 21 for Employee Deposit Linked Insurance
- Account 22 for Admin Charge on EDLI (Account No. 21)

Please find contributions based on Basic Salary of 6600.00:

| | A/c No 1 | A/c 2 | A/c 10 | A/c 21 | A/c 22 | Total |
|--------------|----------|-------|--------|--------|--------|-------|
| Employee Contribution | 792 | 0 | 0 | 0 | 0 | 792 |
| Employer Contribution | 251 | 73 | 541 | 33 | 1 | 899 |
| Total | 1043 | 73 | 541 | 33 | 1 | 1691 |

Note: This calculation is for one month only.
Replace the PF to Employee amount only of Account 1 & Account 10.
You can't get the amount for Account 10 when your contribution is below six months.