Understanding PF Withdrawal: How Much Will I Get and How Long Will It Take?

Hi, I have a few doubts regarding PF. I checked my PF balance with my previous employer on the online site. It's showing EE 12545 and ER 3842.

1. What's the meaning of this?
2. Could someone please clarify how much money I will get if I withdraw?
3. Is it possible to submit the withdrawal request online? If so, please guide me.
4. How much time does it normally take to receive the cash?

Thank you.

Dear Macromatician, I shall answer your first two queries.

PF Contribution Breakdown

Towards PF, 12% each will be deducted from both the employee and employer. The entire contribution of the employee, i.e., Rs. 12,545/-, will be remitted to the PF account. Out of the employer's contribution, 8.33% will be paid to the Pension fund, and the balance amount (generally 3.67%) will also be credited to the PF. The approximate ratio between the pension fund and PF from the employer's share can be calculated as 25:11, i.e., 12,545x25/36 is the EPS share and 12,545x11/36 is the PF share. This is bifurcated as 8,703 and 3,842.

Hence, you will receive 12,545 + 3,842 = 16,387 with interest from the PF account.

EPS Details Required

Regarding the EPS amount, kindly provide your date of joining, date of relief, salary details, etc.

Regards,
Abbas.P.S

Thanks for your help. Is the pension fund withdrawable? I worked from 14-Jan-2010 to 22-Feb-2012 in my old company. My annual package was 2.6 Lacs. Please let me know if you would require anything else.

You have contributed for 2 years (rounded figure) to EPS. For 2 years, the withdrawal benefit is 1.99 (refer to Table D) x 6500 (ceiling limit on salary) = Rs. 12,935. You may apply on Form 10C for either the withdrawal benefit or a scheme certificate. With the use of the scheme certificate, you can either club the service with future service or avail the withdrawal benefit later.

Regards,
Abbas P.S