I was reading about the Provident Fund and EPS, and I have a couple of questions.
1) Can private companies have their own PF Trusts? If they do, how can I know the balance in the EPS as they only provide us with the PF balance?
2) If I join a new company from my current one, will the "10 years of Service" start from scratch since my new PF account number is opened in the new company where I transfer the money from the old account?
From India, New Delhi
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1) Can private companies have their own PF Trusts? If they do, how can I know the balance in the EPS as they only provide us with the PF balance?
2) If I join a new company from my current one, will the "10 years of Service" start from scratch since my new PF account number is opened in the new company where I transfer the money from the old account?
From India, New Delhi
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EPS is not managed by Private Trusts but EPFO. 10 Yrs service is from the date of PF account. Pon
From India, Lucknow
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616From India, Lucknow
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So it means if i open a new PF account on changing jobs and transfer my previous PF account to the new one, my service starts from 0?
From India, New Delhi
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From India, New Delhi
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Private companies manage the PF portion only; they transfer the EPS portion to EPFO. Even if you change jobs from one employer to another, the service regarding EPS continuity remains unaffected.
Regards,
Pon
From India, Lucknow
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Regards,
Pon
From India, Lucknow
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I have about 32 years of service starting from October 1979 until September 2011 across different organizations spanning from the Family Pension regime to the EPS regime. In some companies, the Provident Fund was managed by its own trust, and in others, it was managed by EPFO.
Company A - GoI PSU (19 October 1979 to 30 November 1991)
Pre-EPS era - Managed by PF Commissioner, Bangalore.
Company B - A Pvt Ltd Co. (09 December 1991 to 30 June 1996)
Pre-EPS era - Managed by PF Commissioner, Bangalore.
Company C - A Pvt Ltd Co. (25 September 1996 to 30 June 2007)
Post-EPS era - Managed by Company Trust.
Company D - A Pvt Ltd Co. (02 July 2007 to 31 March 2009)
Post-EPS era - Managed by PF Commissioner, Bangalore.
Company E - A Pvt Ltd Co. (25 September 1996 to 30 June 2007)
Post-EPS era - Managed by Company Trust.
As my PF number was different in each organization, how will EPFO keep track of my total service to work out the pension that is correctly due? What should I do so that I do not lose out on the pension benefits?
Thanks
From India, Bangalore
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Company A - GoI PSU (19 October 1979 to 30 November 1991)
Pre-EPS era - Managed by PF Commissioner, Bangalore.
Company B - A Pvt Ltd Co. (09 December 1991 to 30 June 1996)
Pre-EPS era - Managed by PF Commissioner, Bangalore.
Company C - A Pvt Ltd Co. (25 September 1996 to 30 June 2007)
Post-EPS era - Managed by Company Trust.
Company D - A Pvt Ltd Co. (02 July 2007 to 31 March 2009)
Post-EPS era - Managed by PF Commissioner, Bangalore.
Company E - A Pvt Ltd Co. (25 September 1996 to 30 June 2007)
Post-EPS era - Managed by Company Trust.
As my PF number was different in each organization, how will EPFO keep track of my total service to work out the pension that is correctly due? What should I do so that I do not lose out on the pension benefits?
Thanks
From India, Bangalore
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Employee Pension Scheme, 1995.doc
Form10C.PDF for Employee Pension Scheme 1995.PDF