Confused About Partial PF Withdrawal: Should I Wait or Contact the PF Office?

I had worked for 4 years in Mumbai and contributed to my PF account for all those 4 years. Recently, I left my job and submitted my PF withdrawal request last month with the Kandivali PF office in Mumbai.

Yesterday (7th May 2014), I received a credit of around 12,700 rupees in my bank account through NEFT from EPFO. According to my calculations, my PF amount should be much more than this. My pension amount alone would be somewhere around 26,000 rupees, and my PF would be approximately 15 times the amount I received.

I wanted to know whether the PF amount gets credited in chunks or all at once. Should I wait for some time before raising any grievances with the PF office?

I am not sure how you arrived at your figures. Are they based on the annual account statements given by the EPFO? If so, that should be correct. Otherwise, you have to recalculate it. In any case, if you have doubts about the correctness of the amount settled, you can ask for the details from the EPFO.

Settlement of EPF

Settlement of EPF is normally done in one go. It is not done piecemeal.

EPFO amount will be credited at one go. You can verify your yearly slips given by EPFO to know the year's balance in your account. Remember, 12% of PF is calculated on Basic and DA, not on the gross salary. If you need further clarification, recalculate and go through the website for more information.

Regards.

Thanks bpugazhendhi and Sirisha Rani for your replies. This is how I reached the figure I have quoted in my query:

Calculation Breakdown

Basic | Employee | Employer | Total | Interest (approx)
1st 12 months: 10500 | 22680 | 16188 | 38868 | 11563.23 | 50431.23
next 18 months: 11000 | 23760 | 17268 | 41028 | 8718.45 | 49746.45
next 12 months: 17000 | 24480 | 17988 | 42468 | 5414.67 | 47882.67
next 7 months: 19380 | 16279.2 | 9787.2 | 26066.4 | 1107.822 | 27174.222
Total: 175234.572

My EPS will be above this calculated amount, which I mentioned as 26000 rupees (4 x 6500). The data on the EPFO website is more than a year old and has not been updated. Meanwhile, I got another credit of around 80000, but still, the full amount has not been credited.

File your grievance with the EPFO department or online; you will receive your calculation sheet/statement.

Hi Sammy05,

After how many days was the second credit done to your account? Can you please update. I am going through a similar situation. I have got a single credit amount much less than what was expected.

Please calculate your PF and Pension amount only based on your basic salary amount. PF amount is always credited at one go. I believe the discrepancy may be due to an incorrect calculation.

Thank you.

Hi Sammy05,

After how many days was the second credit done to your account? Can you let me know? I am going through a similar situation. I have received, I guess, only my EPS credit as of now. The EPF credit is still pending. If you could let me know, I can reach out to them.

Thanks a lot.

Hi Digambar_Tiwari,

I have come across several threads where individuals received the EPS and EPF amounts separately, credited within a gap of one week for some. Upon reviewing my account, I noticed that up to October '14, the EPF amount alone was INR 55,955. I reached out to sammy05 with this concern. Thank you for your input regardless.

Please let me know if you need further assistance.

Best regards.

PF Transfer and Settlement Issues

Second credit was after 2 days, but still, it was not complete. (First credit was for EPS and the second was for PF.) My total PF amount was around 175,000, but I got a credit of just 80,000. For EPS, I only received half of the total amount.

After checking with the PF office and my last employer, I came to know the full story. Actually, I had switched jobs after 2 years and opted for PF transfer at that time. All paperwork was done properly, but the actual credit of the last job PF amount to my new PF account was not done. When I made the request for final settlement, only the second job PF and EPS were considered. This led to approximately half of the amount being credited only (the PF and EPS for the second job only, with the transferred amount from the first job missing). I had to follow up with my first employer and raise some grievances on the EPF portal to sort this out.

You can raise a grievance at http://epfigms.gov.in/. They take around 15 days to reply, but you will get some idea of where your money is. Just be patient and try to keep your last employer in the loop. These things take time but will eventually get sorted out.

Regards

Hi Sammy05, Thanks for the update. I haven't switched jobs. I have worked in a single company for 3.5 years and am now going for my studies. That is the reason I have withdrawn the amount. I wrote an email to my employer as well, and they replied that the PF office clears the EPS funds first, followed by the EPF amount within a few days. I read about people getting the credit in two installments, with the gap varying from a day to a week. That is why I posted a query here. I'll wait for a day or two more and then communicate with the PF office accordingly. Thanks for the information.

Hi Buddy,

I have a pretty much the same situation as yours; I got my EPS credited to the bank 2 days back, but my EPF is not credited yet. How much gap was there for you between the two payments? Any information would be much appreciated.