Greetings,
This question was raised by N. Murali:
If an employee leaves the job from the organization after completion of his 11 months and applies for PF refund by completing forms 19 and form 10c, where his basic salary is 10000, I want to know how much amount he will get and what the calculation part for this is.
Regards,
Murali
Management Trainee
From India, Mumbai
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1872This question was raised by N. Murali:
If an employee leaves the job from the organization after completion of his 11 months and applies for PF refund by completing forms 19 and form 10c, where his basic salary is 10000, I want to know how much amount he will get and what the calculation part for this is.
Regards,
Murali
Management Trainee
From India, Mumbai
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If the employee is subscribed to EPF, kindly view this thread and look at the replies given by Ashok Kumar Mishra for a refund of EPF PF: [CiteHR Link](https://www.citehr.com/53350-provident-fund-pension.html).
If the company has its own trust where it's only PF and no pension part, then the full PF amount along with interest is refunded. I guess so ;)
From India, Madras
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If the company has its own trust where it's only PF and no pension part, then the full PF amount along with interest is refunded. I guess so ;)
From India, Madras
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In Form 19, there will be a column stating, "Whether required EPS Certificate or not?" In that column, the applicant has to make a tick mark in the NO box. Then he will get his full 24% PF (Employee 12% and Employer 12%). If he marks the YES box, he will be issued an EPS Certificate and an additional 15.67% (12% employee and 3.67% employer). If the EPS amount exceeds Rs. 541 per month, the excess amount above Rs. 541, along with 3.67%, will be added and given to the individual.
From India, Kumbakonam
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From India, Kumbakonam
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Dear 1979,
Greetings for the day,
Since you have mentioned that you have completed 11 months of your service and then filed a withdrawal claim for PF accumulation, you will receive a full refund of your EPF & EPS accumulation, including the current interest rate i.e., 12% + current interest rate + 3.67% + current interest rate - Through Cheque 1. Additionally, 8.33% (EPS) will be refunded through Cheque 2. The accumulation will be directly credited to your account through 2 cheques within the stipulated time.
Thanks & Regards,
Sumit Kumar Saxena
9899669071, 0120-4131277
From India, Ghaziabad
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Greetings for the day,
Since you have mentioned that you have completed 11 months of your service and then filed a withdrawal claim for PF accumulation, you will receive a full refund of your EPF & EPS accumulation, including the current interest rate i.e., 12% + current interest rate + 3.67% + current interest rate - Through Cheque 1. Additionally, 8.33% (EPS) will be refunded through Cheque 2. The accumulation will be directly credited to your account through 2 cheques within the stipulated time.
Thanks & Regards,
Sumit Kumar Saxena
9899669071, 0120-4131277
From India, Ghaziabad
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I understand that the total contribution to PF is 1200+1200 = Rs. 2400, out of which Rs. 541 go to EPS and the balance Rs. 1859 will be credited to the PF account.
Towards EPS, the withdrawal benefit will be 6500 x 1.02 = Rs. 6630 - (A).
The details of PF contribution are as follows: Employee Contribution - 13200, interest @ 9.5% - 627, Subtotal - 13827. Employer Contribution - 7249, interest @ 9.5% - 344, Subtotal - 7593. Total 13827 + 7593 = Rs. 21420 - (B).
Those who join EPF on or after 16.11.95 or join the Family Pension under EPF before 16.11.95 have no option to get exempted from EPS.
Abbas.P.S
From India, Bangalore
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Towards EPS, the withdrawal benefit will be 6500 x 1.02 = Rs. 6630 - (A).
The details of PF contribution are as follows: Employee Contribution - 13200, interest @ 9.5% - 627, Subtotal - 13827. Employer Contribution - 7249, interest @ 9.5% - 344, Subtotal - 7593. Total 13827 + 7593 = Rs. 21420 - (B).
Those who join EPF on or after 16.11.95 or join the Family Pension under EPF before 16.11.95 have no option to get exempted from EPS.
Abbas.P.S
From India, Bangalore
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To calculate interest on PF: (1) add the monthly accumulations, (2) divide by 12, and (3) then calculate the interest at the prevailing rates. For EPS withdrawal, there is a multiplying factor stipulated in Table D which is to be multiplied by the last drawn salary. No other interest will be considered.
Abbas.P.S
From India, Bangalore
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Abbas.P.S
From India, Bangalore
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In the instant case, there is no certificate. The full amount on account of PF will be refunded, including pension benefits. Unless one completes 10 years of service to receive the certificate towards pension (countable service), otherwise, the amount will be refunded.
From India, Arcot
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From India, Arcot
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EPS Withdrawal and Eligibility Queries
I am Ashwin, working for an MNC for the past 9 years across 3 organizations, and my PF membership is for 8 years. All my previous EPF and EPS amounts have been transferred to the current PF account. I am planning to withdraw my EPS (pension amount). My questions go as below:
1. When I look at my PF statement, the EPS (pension) amount accumulated shows up only for the amount credited by the current organization. Will the amount credited by the previous organizations I have worked for also be eligible when I withdraw EPS?
2. How can I check the total accumulation of EPS?
3. My current basic salary stands at 52,000, and having completed 9 years of service and 8 years of PF membership, what would be the EPS (pension) amount I would get on withdrawal?
Would appreciate your help on this.
Thanks in Advance!
Regards,
Ashwin Hebbal
[Email Removed For Privacy Reasons]
From India, Bangalore
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I am Ashwin, working for an MNC for the past 9 years across 3 organizations, and my PF membership is for 8 years. All my previous EPF and EPS amounts have been transferred to the current PF account. I am planning to withdraw my EPS (pension amount). My questions go as below:
1. When I look at my PF statement, the EPS (pension) amount accumulated shows up only for the amount credited by the current organization. Will the amount credited by the previous organizations I have worked for also be eligible when I withdraw EPS?
2. How can I check the total accumulation of EPS?
3. My current basic salary stands at 52,000, and having completed 9 years of service and 8 years of PF membership, what would be the EPS (pension) amount I would get on withdrawal?
Would appreciate your help on this.
Thanks in Advance!
Regards,
Ashwin Hebbal
[Email Removed For Privacy Reasons]
From India, Bangalore
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
PROVIDENT FUND CALCULATION.xls