Discrepancy in EPS Withdrawal: Why Doesn't My Credited Amount Match My Passbook?

Discrepancy in EPS Withdrawal Amount

I resigned from an organization 6 months ago, and my current organization does not have PF. So, I applied for PF withdrawal online (for both EPF and EPS). Both applications were settled, and the amount was credited to my account. However, the EPS credited amount (Rs. 69,301) does not match my PF Passbook Pension Contribution (Rs. 72,062).

My last month's (March 2018) EPS contribution was Rs. 1,250 per month.

Last month's basic salary: Rs. 28,234/-

EPS Date Of Joining: 2 Jan 2012

EPS Date Of Expiry: 24 April 2018

If I calculate using Table D, the amount might be 15,000 * 6.07 = Rs. 91,050.

Kindly advise.

Based on the information provided, it seems there is a discrepancy between the credited EPS amount and the expected pension contribution in your PF Passbook. Here are the steps you can take to address this issue:

1. Verify Calculation: Double-check your calculations based on the EPS contribution formula to ensure accuracy. If the calculated amount aligns with the Table D estimate of Rs. 91,050, there might be an error in the credited amount.

2. Contact PF Office: Reach out to the PF office or your previous employer's HR department to inquire about the discrepancy. Request a detailed breakdown of the EPS calculation and the credited amount for clarification.

3. Review EPS Scheme: Understand the EPS scheme rules and regulations to determine if any specific conditions or factors could have influenced the final credited amount. Ensure that all your service years and contributions are accurately considered.

4. Submit Grievance: If the discrepancy persists, consider filing a grievance or raising a complaint through the EPF grievance portal. Provide all relevant details and documentation to support your claim for the correct pension amount.

5. Seek Legal Advice: If the issue remains unresolved, seek legal advice from a labor law expert or consult with a professional specializing in PF and EPS matters. They can guide you on the next steps to take to address the discrepancy effectively.

By following these steps and actively engaging with the relevant authorities, you can work towards resolving the EPS withdrawal amount mismatch and ensure that you receive the correct pension entitlement as per the EPS scheme guidelines.