Confused About Indemnity Bond for PF? Need Advice on Resolving Pension Bifurcation Issue

Hello, I had one doubt. I changed my company, and the earlier company did not bifurcate the pension amount from the PF. I enquired at the PF office and was told that the company needs to submit three documents:

1) Letterhead
2) Form 3A
3) Indemnity bond

My doubt is:
On a Rs. 100 stamp paper, if we make an indemnity bond, is it fine? Also, the stamp paper is issued with a name only. So whose name should I put?

Also, if anyone has faced this kind of problem, is the issue resolved after submitting the documents?

Thanks

Hi, if you are issuing and signing the indemnity bond, the stamp paper should be in your name.

Indemnity Bond Requirements
Indemnity Bond to be on Rs. 110/- Stamp Paper duly notarized after your signatures.

Processing Time
Usually, this correction takes 3-4 months.

Required Documents
Also, submit your copy of Aadhar, PAN, Form 5, and Form 10 (All attested by your employer).

Thanks, Abhishek. I have not heard of 110. It is usually in denominations of 50 or 100. Is this some special kind of stamp paper? Also, I wanted to ask, if an employee suffers with no fault of his own, meaning pension has not been deducted from the employer's side, is there no remedy without involving the employer? Can the PF department make this rectification directly?

Furthermore, why does it take so long? They did not mention to me about forms other than 3A.

Thanks,

Regards.

Common Issues with PF Form 11

In this case, most of the time, employees fill in incorrect information at the time of joining in PF Form 11 due to unawareness. Based on the declarations in Form 11, the employer moves ahead with EPS or No EPS.

Employer's Role in Corrections

There is no remedy without the involvement of your employer, as the employer will attest all the documents and provide a declaration on letterhead stating the facts. In case of any fraudulent payment occurring in this regard, the employer will be responsible for the same. Similarly, the employee also provides an Indemnity Bond for the same purpose.

Indemnity Bond Requirements

Normally, Indemnity Bonds are on Rs. 110/- Stamp Papers in most states. However, if Rs. 110/- stamp paper is not available in your state, then you can use Rs. 100/- as well.

Additional Document Submission

Perhaps the PF Office may not have informed you about the other documents, as it is common. It is advised to submit the additional documents mentioned above so that no delay or rejection may occur by the PF Officials.

Timeframe for Correction

As the correction involves internal approvals at various levels and involves long calculations depending on your service and adjustments of any withdrawal, it usually takes 3-4 months. Also, you have to do follow-ups.

Thanks for the guidance. Is it only Form 5 and Form 10? Does this mean there is no A and B to it, right?

Hello, the company is not cooperating at all. Hence, I have decided to handle the indemnity bond myself. After that, I will obtain the stamp from the company along with the required documents. Is it fine for an employee to submit the documents to the PF office? Also, what precautions should be taken, such as obtaining a signature on a Xerox copy as proof of submission?

While filling out the employment form, I filled in the following:

- Whether earlier a member of Provident Fund Scheme 1952 - I answered yes
- Whether earlier a member of Employees' Pension Scheme 1995 - I answered no

Is it possible to have the above scenario?

In what cases could it be the same, and when could it differ?

Regards,

Hello, I am still unable to solve the problem as the company has refused to give an indemnity bond.