Good Morning Everyone, I have a query. In our organization, the previous person made a mistake in PF contribution. He deducted the employer's contribution based on wages capping of Rs. 6500/- per month. For example, if the staff's salary is Rs. 15000/-, then the contribution was as follows:
Wages Employee PF Cont. Company Contribution
15000/- 1800/- 1258/- & 542/- (In pension fund)
When the mistake was identified, I approached the personnel for correction in the staff's PF ledger. The PF official requested to submit a revised 3-(A) form for staff members, which was duly submitted. (Contribution period was from 10/17 to 01/2021)
Now, the PF officials have sent a notice stating that the amount cannot be transferred from EPF to the pension account. They advised to deposit the balance amount on a monthly basis through a challan. I approached PFC and highlighted the problem, requesting if we could deposit the insufficient amount in the pension fund and adjust the excess amount deposited in EPF. However, he refused, stating it was not possible.
I suggested that the establishment deposit the lesser amount due to the mistake in the bifurcation. He declined to consider this.
Kindly advise.
Thanks in advance.
Wages Employee PF Cont. Company Contribution
15000/- 1800/- 1258/- & 542/- (In pension fund)
When the mistake was identified, I approached the personnel for correction in the staff's PF ledger. The PF official requested to submit a revised 3-(A) form for staff members, which was duly submitted. (Contribution period was from 10/17 to 01/2021)
Now, the PF officials have sent a notice stating that the amount cannot be transferred from EPF to the pension account. They advised to deposit the balance amount on a monthly basis through a challan. I approached PFC and highlighted the problem, requesting if we could deposit the insufficient amount in the pension fund and adjust the excess amount deposited in EPF. However, he refused, stating it was not possible.
I suggested that the establishment deposit the lesser amount due to the mistake in the bifurcation. He declined to consider this.
Kindly advise.
Thanks in advance.