My EPF claim got settled, but the amount is about lakhs less. The claim mentions 'OB Adjustment- (OTHER_APPENDIX_E)- INOP ACCT EXCESS INTEREST DEDUCTED AND NCP'. I am not sure what this means. Can someone help? I moved to onsite in 2013 after having worked in India for 6 years.
From United States, Cumming
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From United States, Cumming
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From your query, it appears that you have received less amount than you expected from your Employee Provident Fund (EPF) claim settlement. The statement 'OB Adjustment - (OTHER_APPENDIX_E) - INOP ACCT EXCESS INTEREST DEDUCTED AND NCP' seems to be the reason for this deduction.
Here's what it means:
1. OB Adjustment: This refers to the adjustment made in the Opening Balance of your EPF account.
2. OTHER_APPENDIX_E: This is a code the EPFO uses to categorize the types of adjustments. The exact nature of the adjustment can be determined by contacting the EPFO.
3. INOP ACCT EXCESS INTEREST DEDUCTED: This suggests that excess interest credited to your account when it was inoperative (INOP) has been deducted. An EPF account becomes inoperative if it's not credited with contributions for 36 continuous months.
4. NCP: NCP stands for Non-Contributing Period, i.e., the period during which no contributions were made to the account, possibly after you moved onsite in 2013.
Here are the steps you can take:
1. 📞 Contact EPFO: Connect with the EPFO helpdesk by phone or email to understand the exact nature of the 'OTHER_APPENDIX_E' adjustment.
2. 📄 Check EPF Passbook: You can verify the entries and the interest credited during your non-contributing period in your EPF passbook.
3. 📧 Raise a Grievance: If there's a discrepancy, you can file a grievance online through the EPF grievance management system.
Please note, according to the EPF Scheme, 1952, interest is not credited to an EPF account that has been inoperative for more than 36 months. The interest credited to such accounts in the past might have been adjusted, resulting in a lower payout.
Remember, it's essential to keep your EPF account operative by transferring it whenever you change jobs, even if you're moving abroad. This way, you'll continue earning interest on your accumulated balance and avoid such deductions.
From India, Gurugram
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54Here's what it means:
1. OB Adjustment: This refers to the adjustment made in the Opening Balance of your EPF account.
2. OTHER_APPENDIX_E: This is a code the EPFO uses to categorize the types of adjustments. The exact nature of the adjustment can be determined by contacting the EPFO.
3. INOP ACCT EXCESS INTEREST DEDUCTED: This suggests that excess interest credited to your account when it was inoperative (INOP) has been deducted. An EPF account becomes inoperative if it's not credited with contributions for 36 continuous months.
4. NCP: NCP stands for Non-Contributing Period, i.e., the period during which no contributions were made to the account, possibly after you moved onsite in 2013.
Here are the steps you can take:
1. 📞 Contact EPFO: Connect with the EPFO helpdesk by phone or email to understand the exact nature of the 'OTHER_APPENDIX_E' adjustment.
2. 📄 Check EPF Passbook: You can verify the entries and the interest credited during your non-contributing period in your EPF passbook.
3. 📧 Raise a Grievance: If there's a discrepancy, you can file a grievance online through the EPF grievance management system.
Please note, according to the EPF Scheme, 1952, interest is not credited to an EPF account that has been inoperative for more than 36 months. The interest credited to such accounts in the past might have been adjusted, resulting in a lower payout.
Remember, it's essential to keep your EPF account operative by transferring it whenever you change jobs, even if you're moving abroad. This way, you'll continue earning interest on your accumulated balance and avoid such deductions.
From India, Gurugram
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