PF Withdraw For 3 Months Off Roll Duration

atomz
OK
Seema,
EPF( & EPS) deduction less then 6 months. The amount of EPF will be refunded to you and EPS will be forfeited. So do not try to withdraw when your service is less then 6 months.
EPF is 12% form employee + 3.67% from employer
EPS is 8.33% from employer only.
Now if salary is Rs.12000
then EPF 12%= 1440 + 3.67% = 440 + 459 = 2339 (459 from EPS share, reason being EPS has a ceiling on Rs.6500, i.e., 6500*8.33% = Rs.541 )
& EPS 8.33% = 541 (excess amount is adjusted in EPF 3.67% share)
to your question how much amount of EPF for 3 months 2339 * 3 = 7017. & EPS 541*3 = 1623
Note: to everything above if the employer implemented a ceiling Rs. 6500 (basic) then even though you are getting basic Rs. 12000 the employer is not bound to pay EPF upto Rs.12000. He can restrict his share to Rs.6500 i.e., 6500 * 12% = 780 not 12000*12% = 1440.
I hope you understood..
Stay Cool,
Atom
jcvasava
basic salary pf contrubution 12000*12%=1440, 1440*3= 4320
pension limit 6500*8.33% = 541, 541*3=1623
differance pf-pension =1440-541= 899, 899*3= 2697
pension amount will be given if you contribute to 6 months only.
ssk1984
Dear sir,
in that calculation i understood of pf percentage of 12% of 4320/- and EPS amount of Rs.1623/- but i can not understand about Rs.2697/-, can you please provide me the details of calculation about it.
Advance Thanks.
ksingh99
Dear Seema,
1. As per PF rules if employee service is below six month than he/she can withdrawal only epf share and FPF amount can not withdrawal.
2. FPF amount can transfer in your PF account.
with regards,
Karan Chaudhary
sumitk.saxena
Dear seema,
Greetings for the day,
Agreed with jcvasava, that EPF accumulation can be withdrawn by simply filling form 19 , get the same attested by employer,. If employer is not willing to sign. the same, you just get attested same from your bank manager/gazatted officer and submit the same to concern EPFO with a letter that complaining about the employer not signing the epf withdrawl claim.EPFO will act on your complaint immediately by sending someone from their side to get your form signed by employer.For getting EPS accumulation the service/contribution of 180days is compulsory.
Thanks & Regards,
From,
Sumit Kumar Saxena
tapas.digar
Hi Seema,
You can withdraw your Epf not Eps. (For Eps, contribution shouldbe more than 6months.)
Regards.
Tapas
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