Hello,
I applied for transfer of PF which after a long process of trying and retrying, it was transferred in June 2010. Then it was about 1.74L.
I checked my PF balance recently on the company's outsourced PF vendor site and it is 2 lakhs less than expected!! After a lot of scrambling through my payslips and other records, I concluded that the money is exactly the same as missing PF transfer and interest (which comes to 30K, therefore 1.74L + 30k = 2.05L)
I'm asking my company to look into this but while I may be able to recover the principal, if the company made a mistake in not properly handling the transfer, it is unlikely I will get the PF interest for this duration, i.e. 30K from EPFO .
What should I do in this case? Is the company obligated to pay the lost interest out of their pocket because they did not deposit the transferred principal in June 2010?
I applied for transfer of PF which after a long process of trying and retrying, it was transferred in June 2010. Then it was about 1.74L.
I checked my PF balance recently on the company's outsourced PF vendor site and it is 2 lakhs less than expected!! After a lot of scrambling through my payslips and other records, I concluded that the money is exactly the same as missing PF transfer and interest (which comes to 30K, therefore 1.74L + 30k = 2.05L)
I'm asking my company to look into this but while I may be able to recover the principal, if the company made a mistake in not properly handling the transfer, it is unlikely I will get the PF interest for this duration, i.e. 30K from EPFO .
What should I do in this case? Is the company obligated to pay the lost interest out of their pocket because they did not deposit the transferred principal in June 2010?