My PF Amount Calcualtion

senthamizh
Dear All,
I worked in a MNC company for a period of 23 months and they deduced PF amount of total 13418 for 23 months. I have received an amount of rupees 27k as my PF total amount. One of my friend worked in my same organization with me for 19 months he has received total PF amount as 26k.I have a doubt how he is getting nearly my amount. Actually my company has not given me any statement of amount deposited (yearly statement) of my account. They have submitted my account in Maharashtra (Vashi) Branch. Now I want to know that the amount which I have received is correct or wrong. In order to enquire what is the procedure and where should I ask for it.
Many of us in our organization are facing this same problem.
HR Hiral Mehta
Hello,
Along with number of months worked you need to even mention the Basic earned by both of you. Chances are that your colleague who has worked for 19 months might have higher basic compared to yours.
Pl give full details so as to get accurate answer.
Meanwhile you can get your PF passbook generated online though EPFO site; if your company has filed the return online from March'12. PF passbook shows total contribution of employee, employer, interest earned & contribution towards pension fund.
senthamizh
Hi Hiral Mehta,
Me and my friend both of us received same salary and our Basic salary is 6500.
HR Hiral Mehta
Then look at the contribution percentage. Probably your friend would have opted for higher percentage or he might have transferred the amount from previous employer. You can go through your PF statement / passbook & you'll get answer to all your queries.
senthamizh
I tired to download My PF account statement in online but it showing error as Your request date. 20/11/2012 for e-Passbook for account number is under process. You shall be intimated on SMS when the same is available.
Both of us did not increase the percentage of amount. They have deduced rupees 780.
HR Hiral Mehta
The passbook is generated within 3 to 4 working days. You will receive a sms once generated. If that is what it is showing, it is NOT an error.
sandhya_kumari@sify.com
calculation sud done in this manner
1.6500*12%=780*23=17940(Employee contribution)
2.6500*3.67%=239*23=5497 (employer contribution)
3.6500*8.33%=541*23=12443(employer contribution)
Regards
Sandhya
Total: 17940+5497+12443=35880.00 (excluding interest)
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