EE amount: Rs. 37,862/-
ER amount: Rs. 11,816/-
as of 10-12-12
Account updated up to 31-03-12.
Can someone let me know why the ER amount is less than the EE amount? I understand it should be an equal contribution. Also, a rough estimate of my total amount would be appreciated.
From India, Pune
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2ER amount: Rs. 11,816/-
as of 10-12-12
Account updated up to 31-03-12.
Can someone let me know why the ER amount is less than the EE amount? I understand it should be an equal contribution. Also, a rough estimate of my total amount would be appreciated.
From India, Pune
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Dear Mr. Samz5000, You need to give us the breakup of the amount for our calculation in order to extend our views. Please specify to enable answer your query.
From India, Visakhapatnam
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From India, Visakhapatnam
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Hello,
The contribution is always equal, so do not worry. Let me explain how it works: Employers' contribution is divided into two parts, namely PF & Pension. The ER amount of Rs. 11,816/- is only the PF part, and you can assume that the Pension part is EE - ER, i.e., 37,862 - 11,816 = 26,046/-. Therefore, the total amount of PF is Rs. 37,862/- + 37,862 = 75,724/-.
Hope you understood.
Regards
From India, Ahmedabad
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The contribution is always equal, so do not worry. Let me explain how it works: Employers' contribution is divided into two parts, namely PF & Pension. The ER amount of Rs. 11,816/- is only the PF part, and you can assume that the Pension part is EE - ER, i.e., 37,862 - 11,816 = 26,046/-. Therefore, the total amount of PF is Rs. 37,862/- + 37,862 = 75,724/-.
Hope you understood.
Regards
From India, Ahmedabad
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The employer contribution is equal to 8.33% of the employee's salary, which is paid into the Pension Fund Account, and only 3.67% of the employee's salary out of the employer's share remains with the Provident Fund. The difference is due to this fact. Thus, the Employee's Contribution (EE) shows more because it includes a total of 12% of the employee's share, while the employer's share shown is only 3.67%.
Regards,
S. Hoda
From India, Pune
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Regards,
S. Hoda
From India, Pune
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I agree with Hiral Mehta. However, the exact amount shown in Employee share = Employer share + Pension Fund will not be accurate because there is another element involved, which is Interest. The employee's portion will be higher as the amount remains undivided, and the pension amount does not accrue interest.
For example, if an employee contributed 1500 per month for a year, the total contribution would be 12 x 1500 = 18000. In this scenario, the employer contributed 1000 as the employer share and 500 towards the Pension fund. The portion allocated to the pension fund will not generate any interest. Consequently, the total amount received by the employee will not match the total amount they contributed.
I hope this explanation clarifies the situation.
Regards,
Avi
From India, Hyderabad
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For example, if an employee contributed 1500 per month for a year, the total contribution would be 12 x 1500 = 18000. In this scenario, the employer contributed 1000 as the employer share and 500 towards the Pension fund. The portion allocated to the pension fund will not generate any interest. Consequently, the total amount received by the employee will not match the total amount they contributed.
I hope this explanation clarifies the situation.
Regards,
Avi
From India, Hyderabad
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Out of the employer's contribution, 8.33% or Rs. 541/-, whichever is less, will go to your pension account, for which you will not receive any statement. You can try the online PF passbook, where you will be able to see your pension accumulation. The pension amount is always calculated on Rs. 6,500/-. For example, if your basic wages are Rs. 10,000/-, you will still contribute Rs. 541/-, and the balance amount will be added to your PF contribution. Whereas, if your basic wages are less than Rs. 6,500, then an amount of 8.33% of basic wages will go to the pension fund.
Thank you.
From India, Mumbai
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Thank you.
From India, Mumbai
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Dear Friend, As per EPF Rule, the current rate of deduction is 12% from employees. The employer's share to the PF account is 3.67%, and the remaining 8.33% goes to the Family Pension account. Normally, the account statement received annually from the PF department only reflects the PF contribution account. The Family Pension amount is not reflected in that statement.
Regards,
Shaji George.
From India, Cochin
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Regards,
Shaji George.
From India, Cochin
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Your calculation is as follows:
Employee Provident Fund Contribution
Since your Employee Provident Fund (EE) contribution is Rs. 37,862, your salary (calculation for PF) must be Rs. 315,517. Now, your EE contribution at 12% on Rs. 315,517 is Rs. 37,862 (your EE figure is Rs. 37,862).
Employer's Contribution
- Pension Scheme at 8.33% is Rs. 26,282.
- PF at 3.67% is Rs. 11,580 (the given ER PF is Rs. 11,816).
I think it is clear to you now.
Regards,
Sanjeev
From India, Pune
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Employee Provident Fund Contribution
Since your Employee Provident Fund (EE) contribution is Rs. 37,862, your salary (calculation for PF) must be Rs. 315,517. Now, your EE contribution at 12% on Rs. 315,517 is Rs. 37,862 (your EE figure is Rs. 37,862).
Employer's Contribution
- Pension Scheme at 8.33% is Rs. 26,282.
- PF at 3.67% is Rs. 11,580 (the given ER PF is Rs. 11,816).
I think it is clear to you now.
Regards,
Sanjeev
From India, Pune
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First of all, I would like to appreciate our friends for their responses. Here, I would like to add some more information related to PF.
Employee Contribution
- 12%
Employer Contribution
- 12%
Coming to the employer contribution: 8.33% Pension fund, 3.67% PF. However, as per the ceiling of ₹6,500, we can make it 6,500 * 8.33% = ₹541. If anyone has a basic salary higher than ₹6,500, then the remaining amount can be posted into the PF account.
One important note is that for EPF, we can earn interest, but for the pension fund, no interest will be added to the account.
As per our seniors, please take a statement of your account where you can find all the information.
I hope this information will be useful for you.
From India, Hyderabad
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Employee Contribution
- 12%
Employer Contribution
- 12%
Coming to the employer contribution: 8.33% Pension fund, 3.67% PF. However, as per the ceiling of ₹6,500, we can make it 6,500 * 8.33% = ₹541. If anyone has a basic salary higher than ₹6,500, then the remaining amount can be posted into the PF account.
One important note is that for EPF, we can earn interest, but for the pension fund, no interest will be added to the account.
As per our seniors, please take a statement of your account where you can find all the information.
I hope this information will be useful for you.
From India, Hyderabad
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As very well defined by Hiral Mehta, I would just like to add a few points. As provided by you:
EE amount: Rs. 37,862/-
ER amount: Rs. 11,816/-
PF Contribution Details
Your PF contribution, i.e., 12% of the basic, will be as follows:
- 12% + Interest earned on that (EE) = Rs. 37,862/-
- 3.67% + Interest earned on that (ER) = Rs. 11,816/-
The rest of the amount contributed from the employer towards the Pension fund is 8.33%. Hence, your Pension amount will be:
EE (Rs. 37,862) - Interest Amount earned on (EE + ER) - ER (Rs. 11,816) = Outcome will be your Pension amount.
Total Amount Calculation
The total amount will be:
EE + ER + (Pension fund - Interest amount earned on (EE + ER))
i.e., Rs. 37,862 + Rs. 11,816 + (Rs. 26,046 - Interest earned on EE + ER)
Note: As per the PF scheme, we do not earn any interest on the contribution towards the Pension.
Please write if you still require any further clarification.
Regards,
Pushkar Bisht
From India, Delhi
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EE amount: Rs. 37,862/-
ER amount: Rs. 11,816/-
PF Contribution Details
Your PF contribution, i.e., 12% of the basic, will be as follows:
- 12% + Interest earned on that (EE) = Rs. 37,862/-
- 3.67% + Interest earned on that (ER) = Rs. 11,816/-
The rest of the amount contributed from the employer towards the Pension fund is 8.33%. Hence, your Pension amount will be:
EE (Rs. 37,862) - Interest Amount earned on (EE + ER) - ER (Rs. 11,816) = Outcome will be your Pension amount.
Total Amount Calculation
The total amount will be:
EE + ER + (Pension fund - Interest amount earned on (EE + ER))
i.e., Rs. 37,862 + Rs. 11,816 + (Rs. 26,046 - Interest earned on EE + ER)
Note: As per the PF scheme, we do not earn any interest on the contribution towards the Pension.
Please write if you still require any further clarification.
Regards,
Pushkar Bisht
From India, Delhi
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Dear Syama,
Yes, you can withdraw the pension amount, but there are some conditions under which it will not be withdrawn:
1. If your total service is less than 6 months towards the Pension Scheme.
2. If your total service is more than 10 years, then you cannot withdraw the amount; you will only be eligible for a PSC (Pension Scheme Certificate) at the time of withdrawal.
Regards,
Pushkar Bisht
From India, Delhi
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Yes, you can withdraw the pension amount, but there are some conditions under which it will not be withdrawn:
1. If your total service is less than 6 months towards the Pension Scheme.
2. If your total service is more than 10 years, then you cannot withdraw the amount; you will only be eligible for a PSC (Pension Scheme Certificate) at the time of withdrawal.
Regards,
Pushkar Bisht
From India, Delhi
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Pension Contribution and Withdrawal Conditions
8.33% or Rs. 541/-, whichever is less, will go to the Pension account, and the balance will be shown as the Employer's PF contribution. The Pension part of PF can only be withdrawn if your service is less than 9 years and 6 months. You cannot withdraw the pension part if your service is more than 9 years and 6 months.
Regards,
Novel Lopes Manager - HR
From India, Mumbai
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8.33% or Rs. 541/-, whichever is less, will go to the Pension account, and the balance will be shown as the Employer's PF contribution. The Pension part of PF can only be withdrawn if your service is less than 9 years and 6 months. You cannot withdraw the pension part if your service is more than 9 years and 6 months.
Regards,
Novel Lopes Manager - HR
From India, Mumbai
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ER amt is less because 8.33 % goes to Pension Fund which does not show in Annual slip and 3.67% shoes in PF slip. Calculate to check the amounts.
From India, Rourkela
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From India, Rourkela
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I received my PF from my earlier employer. I received ER and EE, but I doubt whether I had received the Family Pension account. Will the 8.33% portion be given to the employee at the time of withdrawal of PF?
Understanding PF Withdrawal Details
Please help me understand how to obtain the details of these. My earlier PF office is in Mumbai, Bandra.
Thanks and regards
From India, Madras
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Understanding PF Withdrawal Details
Please help me understand how to obtain the details of these. My earlier PF office is in Mumbai, Bandra.
Thanks and regards
From India, Madras
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[QUOTE=satishwr;2002022]
Dear members, I received my PF from my earlier employer. I got ER and EE, but I doubt if I received the Family Pension account. Will the 8.33% portion be given to the employee at the time of PF withdrawal? Please help me understand how to get details on these. My earlier PF office is in Mumbai, Bandra.
Thanks and regards,
satishwr
From India, Madras
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Dear members, I received my PF from my earlier employer. I got ER and EE, but I doubt if I received the Family Pension account. Will the 8.33% portion be given to the employee at the time of PF withdrawal? Please help me understand how to get details on these. My earlier PF office is in Mumbai, Bandra.
Thanks and regards,
satishwr
From India, Madras
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Dear Satishwr, Please check your PF slips and match the settled amount or else check with your employer. Please write if you have any query pertaining to above. Regards, Pushkar Bisht
From India, Delhi
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From India, Delhi
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The Employer Contribution of 8.33% to the Family Pension Account will be refunded to you at the time of your Refund Claim. If you complete 10 years of service, the monthly pension amount will be calculated from this 8.33%. You have the option to withdraw the 8.33% (Family Pension amount) along with your PF contribution at the time of your resignation or retirement. (You can opt for the Pension Scheme or withdrawal of the full amount in the Refund claim.)
Regards,
Shaji George.
From India, Cochin
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Regards,
Shaji George.
From India, Cochin
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PF Account Inquiry
My name is Anil, and I have some questions about my PF account.
EE Amt - 45379
ER Amt - 19463 up to 31/03/2011- EPFO
I would like to know my total amount with regard to PF and how I can transfer or withdraw it. I am concerned that my current employer may not support me in this process.
Please also advise on whether it is better to withdraw or transfer the funds.
Thank you.
Regards,
Anil Dohare
[Email Removed For Privacy Reasons]
From India, Pune
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My name is Anil, and I have some questions about my PF account.
EE Amt - 45379
ER Amt - 19463 up to 31/03/2011- EPFO
I would like to know my total amount with regard to PF and how I can transfer or withdraw it. I am concerned that my current employer may not support me in this process.
Please also advise on whether it is better to withdraw or transfer the funds.
Thank you.
Regards,
Anil Dohare
[Email Removed For Privacy Reasons]
From India, Pune
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I got a message by saying My EE Amt Rs. 39421/- ER Amt Rs. 12074/- As On 31-03-15 Acc\' Updated Upto 31-03-15. Could anyone please tell me how much of pf amount should be credited into my account ?
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Hello sir My name is maulik.what is the meaning ee&er.and one message i received by pf.my EEamt:-10521 ERamt:-3217 Please help me how can i caluctef and total amount my pf. Thanx Maulik
From India, Manor
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From India, Manor
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PF guidleines for Pension fund.pdf