I was working in an organization that had its own trust for Provident Fund. There was no deduction towards the Employees' Pension Fund from my contributions. Now, I have joined a new organization that is under the Regional Provident Fund Commissioner.
If I transfer my amount in the P.F. to my new account, will there be a deduction towards the Pension Fund from my accumulated amount, or will it only be from my future contributions?
From India, New Delhi
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If I transfer my amount in the P.F. to my new account, will there be a deduction towards the Pension Fund from my accumulated amount, or will it only be from my future contributions?
From India, New Delhi
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Dear Mr. Krish,
When any organization has its own trust, the employee contribution is 12%, and the employer's share for PF is deposited in the trust. However, the pension amount payable by the employer is deposited in the PF office.
When you go to transfer the accumulations, you will have to fill out two Form 13s: one for EPF and one for EPS. There will not be any deduction from your accumulation.
Regards,
Bhanu Pratap Singh
From India, Gandhidham
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1When any organization has its own trust, the employee contribution is 12%, and the employer's share for PF is deposited in the trust. However, the pension amount payable by the employer is deposited in the PF office.
When you go to transfer the accumulations, you will have to fill out two Form 13s: one for EPF and one for EPS. There will not be any deduction from your accumulation.
Regards,
Bhanu Pratap Singh
From India, Gandhidham
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Dear Krishnarajagopalan,
When did you join EPF? Was it before or after 16.11.95? If it was before 16.11.95, were you a member of the erstwhile Family Pension Scheme? If the answer to the last question is no, did you opt to join EPS? Please answer the above questions to confirm whether you were a member of EPS in your previous service.
For EPS, no deduction will be made from the employee's contribution. 8.33% of the employer's contribution, subject to a ceiling of Rs. 541 p.m., will be remitted to EPS, and the remaining contribution will go to the individual PF account.
If you were not a member of EPS, and the PF authorities now allow you to join EPS with retrospective effect for your previous service, you will have to pay the full amount/arrears with an interest rate of 8.5%.
To transfer both EPF and EPS, one Form 13 will suffice. The previous PF Office will prepare Annexure K and send it to the present PF Office with the details of both EPF and EPS.
Abbas.PS
From India, Bangalore
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When did you join EPF? Was it before or after 16.11.95? If it was before 16.11.95, were you a member of the erstwhile Family Pension Scheme? If the answer to the last question is no, did you opt to join EPS? Please answer the above questions to confirm whether you were a member of EPS in your previous service.
For EPS, no deduction will be made from the employee's contribution. 8.33% of the employer's contribution, subject to a ceiling of Rs. 541 p.m., will be remitted to EPS, and the remaining contribution will go to the individual PF account.
If you were not a member of EPS, and the PF authorities now allow you to join EPS with retrospective effect for your previous service, you will have to pay the full amount/arrears with an interest rate of 8.5%.
To transfer both EPF and EPS, one Form 13 will suffice. The previous PF Office will prepare Annexure K and send it to the present PF Office with the details of both EPF and EPS.
Abbas.PS
From India, Bangalore
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Dear Shri Krishnaraja,
I hope you have received a satisfactory answer to your queries. Some organizations maintain PF accounts of their employees in the Trust with the prior approval and sanction of the EPFO. Without permission from the EPFO, no employer will venture to keep the amount deducted from employees' salary with them. Employers who are permitted to maintain PF accounts of their employees have to send pension contributions to the EPFO office of the area. When an employee of such an employer changes jobs and applies for the continuation of their existing PF account, the Contributory Provident Fund Trust of their previous company sends the deposits with interest to the EPFO office of the area where the employee has taken up a new assignment. The EPFO also transfers the Pension contribution to the new EPFO office. The employee gets the benefit of the continuation of their membership of the EPS 1995.
Regarding the query of Shri K N Shivananja, I wonder whether there was any option of a return of capital in the previous Family Pension Scheme, 1971. I will carefully watch the posts to know more about this case.
Thanks and regards,
From India, Pune
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I hope you have received a satisfactory answer to your queries. Some organizations maintain PF accounts of their employees in the Trust with the prior approval and sanction of the EPFO. Without permission from the EPFO, no employer will venture to keep the amount deducted from employees' salary with them. Employers who are permitted to maintain PF accounts of their employees have to send pension contributions to the EPFO office of the area. When an employee of such an employer changes jobs and applies for the continuation of their existing PF account, the Contributory Provident Fund Trust of their previous company sends the deposits with interest to the EPFO office of the area where the employee has taken up a new assignment. The EPFO also transfers the Pension contribution to the new EPFO office. The employee gets the benefit of the continuation of their membership of the EPS 1995.
Regarding the query of Shri K N Shivananja, I wonder whether there was any option of a return of capital in the previous Family Pension Scheme, 1971. I will carefully watch the posts to know more about this case.
Thanks and regards,
From India, Pune
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Dear Mr. K N Shivananja,
In your case, the earlier Family Pension scheme will be applicable. You have to tell us whether you submitted two claims: one for PF and the other for EPS. If you have submitted for PF and have received the amount, then your claim for pension is still lying with the EPF office.
Please note that the EPF office does not maintain an individual Pension account for each person as is done for PF. The amount remitted to the Pension account is kept as a corpus fund. Therefore, based on the last drawn wages, the Pension amount is calculated and paid.
You may need to verify with the respective PF office for more details and then forward your claim for Pension if you have not already done so, as the account has been inactive for over 23 years. Urgent action on this is advisable.
Regards, M.V. KANNAN
From India, Madras
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In your case, the earlier Family Pension scheme will be applicable. You have to tell us whether you submitted two claims: one for PF and the other for EPS. If you have submitted for PF and have received the amount, then your claim for pension is still lying with the EPF office.
Please note that the EPF office does not maintain an individual Pension account for each person as is done for PF. The amount remitted to the Pension account is kept as a corpus fund. Therefore, based on the last drawn wages, the Pension amount is calculated and paid.
You may need to verify with the respective PF office for more details and then forward your claim for Pension if you have not already done so, as the account has been inactive for over 23 years. Urgent action on this is advisable.
Regards, M.V. KANNAN
From India, Madras
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Dear Krish,
Greetings for the day.
In the organization where there is a PF trust, the deduction of 12% + 3.67% is only deposited to the PF trust, and the rest 8.33% (pension fund) is deposited to the concerned EPFO. In case of transferring the PF + pension accumulation, you have to fill out two sets of Form 13 and submit them to the concerned EPFO.
Thanks & Regards,
From,
Sumit Kumar Saxena,
+91-9899669071, 0120-4131277
From India, Ghaziabad
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Greetings for the day.
In the organization where there is a PF trust, the deduction of 12% + 3.67% is only deposited to the PF trust, and the rest 8.33% (pension fund) is deposited to the concerned EPFO. In case of transferring the PF + pension accumulation, you have to fill out two sets of Form 13 and submit them to the concerned EPFO.
Thanks & Regards,
From,
Sumit Kumar Saxena,
+91-9899669071, 0120-4131277
From India, Ghaziabad
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Can you please explain the detailed process of PF transfer after filling up Form 13, process at EPFO? I am joining company A, but I have a PF account from my previous employer that has been unused for one and a half years. Hence, I have the following questions:
1. Will the amount from my old account be transferred to my new employer's PF account?
2. Or will the deductions from my new employment be credited to the old account?
3. What is the procedure to determine the reason for a claim getting rejected?
4. What is the average time for a PF account transfer?
From India, Mumbai
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1. Will the amount from my old account be transferred to my new employer's PF account?
2. Or will the deductions from my new employment be credited to the old account?
3. What is the procedure to determine the reason for a claim getting rejected?
4. What is the average time for a PF account transfer?
From India, Mumbai
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I worked for an IT company from 2004 to 2008, and now I want to transfer that money to my current employer. When I checked my EPF balance for that employer, I got a message: "Inoperative PF Account." Please contact the PF office. I submitted a request for PF transfer online at epfindia.com and have also submitted it to my current employer. Please suggest if I need to do anything else.
Thanks,
Tarun
From India, Delhi
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Thanks,
Tarun
From India, Delhi
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I have a query on the eligibility for a pension under FPF or EPS (Family Pension Fund) and the transfer of EPF.
I left Company #1 in Delhi on 16-02-2009 (EPF & Pension fund under RPFO Delhi) and joined Company #2 in Hyderabad on 17-02-2009 (EPF & Pension fund under RPFO Hyderabad). Effective 01-01-2011, Company #2 transferred all employees to a new company (Company #3) and maintained the EPF part under its own trust and the Pension Fund under RPFO Delhi.
My PF from Company #1 has not yet been transferred, and the PF & Pension fund from Company #2 was transferred to Company #3 on 01-08-2014 (EPF to Trust & Pension fund to RPFO, Delhi).
Eligibility for Pension Transfer
To be eligible for a pension, should I transfer the PF from Company #1 to Company #2 and then from Company #2 to Company #3, or am I still eligible if I transfer the amount from Company #1 directly to Company #3? There will be a gap period between the two companies.
Continuous Contribution Requirement
I heard that a continuous 10-year contribution to FPF is required to be eligible for a pension. Is that 10 years of service in one organization, or can it be in different organizations with different EPF accounts? Please help...
Thanks,
Manoj
From India, Hyderabad
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I left Company #1 in Delhi on 16-02-2009 (EPF & Pension fund under RPFO Delhi) and joined Company #2 in Hyderabad on 17-02-2009 (EPF & Pension fund under RPFO Hyderabad). Effective 01-01-2011, Company #2 transferred all employees to a new company (Company #3) and maintained the EPF part under its own trust and the Pension Fund under RPFO Delhi.
My PF from Company #1 has not yet been transferred, and the PF & Pension fund from Company #2 was transferred to Company #3 on 01-08-2014 (EPF to Trust & Pension fund to RPFO, Delhi).
Eligibility for Pension Transfer
To be eligible for a pension, should I transfer the PF from Company #1 to Company #2 and then from Company #2 to Company #3, or am I still eligible if I transfer the amount from Company #1 directly to Company #3? There will be a gap period between the two companies.
Continuous Contribution Requirement
I heard that a continuous 10-year contribution to FPF is required to be eligible for a pension. Is that 10 years of service in one organization, or can it be in different organizations with different EPF accounts? Please help...
Thanks,
Manoj
From India, Hyderabad
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PF guidleines for Pension fund.pdf